A bike insurance policy offers you financial cover against third-party liabilities, damages to your bike resulting from accidents, and losses resulting from total theft. In other words, a bike insurance plan is a safety net that covers you against the uncertainties of riding a two-wheeler on the Indian roads.
Moreover, opting for a bike insurance policy is not just prudent, but it is also mandatory under the directives of the Insurance Regulatory and Development Authority of India (IRDAI). As per the latest revisions to this directive, all newly purchased bikes need to be protected by a long-term two-wheeler insurance plan of at least 5 years.
The good news is that buying a new bike insurance policy does not require you to visit a brick-and-mortar insurance office. Instead, you can buy (or renew) one with just a minimum set of documents online.
Documents Required When Applying for a Bike Insurance
Here’s a list of documents you will need to present while buying a long-term two-wheeler insurance policy:
Registration Certificate
To apply for a long-term two-wheeler insurance plan, you need to first register your brand new two-wheeler with a local RTO. After your bike is successfully registered, you will receive a registration certificate or RC that will enumerate crucial information like your registration number, registration date, engine number, chassis number, etc. A copy of your RC must be submitted when applying for a bike insurance plan.
Identity Proof
To apply for a long-term two-wheeler insurance policy, you need to furnish a document that proves your identity. Documents accepted as identity proof include your Aadhaar card, passport, driver’s licence, voter ID card, and ration card.
Address Proof
Anyone applying for a fresh bike insurance plan or renewing an old one needs to submit a document verifying their residential address. Aadhaar card, passport, driver’s licence, and voter ID are generally accepted as valid proof of residence. You can submit any one of these documents as address proof.
Passport-Size Photo
You will also need to submit recent passport-size photos along with these documents to successfully apply for a long-term two-wheeler insurance policy.
Documents Needed for Renewing a Bike Insurance Policy
As per the Insurance Regulatory and Development Authority of India (IRDAI), you must renew your bike insurance policy before it expires to enjoy continuous insurance coverage. When renewing your existing bike insurance policy, you will need to submit the above-mentioned documents, along with your old insurance policy number and a policy renewal form.
Documents Needed for Changing Your Insurance Provider
You also have the option of changing insurance providers when your policy is up for renewal. To do so, you will need to furnish the following documents:
- A copy of your identity proof, like your Aadhaar card, voter ID card, passport, driver’s licence, or ration card.
- A copy of your address proof
- Recent passport size photos
- A copy of your previous two-wheeler insurance policy
- A copy of your driving licence
Summing It Up
Digitisation has made the process of applying for a long-term two-wheeler insurance plan super easy. With so many insurance providers offering quick and easy application and renewal options, you can opt for a bike insurance plan in a matter of seconds. Simply remember to keep the above-mentioned list of documents handy to ensure that the application process is smooth and hassle-free.