9 Things To Know About Bike Insurance While Relocating
Leaving your comfort zone and starting over in a new location is the best way to learn and grow. Are you one of those who intend to relocate to a different city? While transferring to a new city in India, please consider the following nine guidelines about your bike insurance policy:
Inform Your Insurance Provider
When you move to a new city, the first thing you should do for your bike insurance is to inform your insurer so they can update the information. In doing so, you may have the following questions:
- Can I use my existing bike insurance in a different state?
- What paperwork is necessary to adjust the address on my insurance policy?
- How do I transfer my motorbike insurance to another state?
- If you purchased your bike insurance online, you could amend your permanent address by contacting your insurance expert. By doing so, your insurance provider can deliver official documents to your new registered address and interact with you quickly.
Consider Upgrading:
To safeguard your vehicle against unforeseen circumstances that may damage your car or bike, you must get your own-damage coverage and the required third-party bike insurance. Alternatively, research comprehensive two-wheeler insurance that provides financial protection for your vehicle and third-party liability in the event of an accident.*
- Explore More Alternatives: If you are migrating to a new city and your two-wheeler insurance policy is set to expire during that time, a little investigation may suffice. In addition, the insurance provider may offer additional benefits at reasonable costs in the new city. Verify whether they offer nationwide coverage and network garages in the new city.
- Consider Your Bike Insurance Rate: Are you aware that your bike insurance rate may change based on the terms and circumstances of your policy if you relocate? For instance, if you reside in a coastal part of India, you are highly susceptible to natural disasters like cyclones, heat waves, and flooding. You will certainly pay a higher premium. Thus, it would help if you verified the bike insurance premium based on the policy’s location and terms and conditions.*
- Re-enrollment with the Local RTO: Whether relocating permanently or temporarily, you must register your motorbike with that state or city’s Regional Transport Office (RTO). This procedure is known as the re-registration of your vehicle, during which you receive a new registration number. Once you have it, inform your insurance provider as well. To complete the re-registration of your car, you must get a No Objection Certificate (NOC) from the RTO where the vehicle was previously registered.
- Ensuring Your Insurance Policy Is Complete: If you are relocating, you may need to renew your bike insurance if it is about to expire. This could get you into problems if your bike insurance policy has expired or lapsed. Hence, you must ensure that your insurance coverage has no gaps, as you will not be protected from any claims if your vehicle is destroyed.
Consider before Purchasing a New Motorcycle:
While moving to a new location and preparing to acquire a new two-wheeler, it is essential to consider the following:
- Always examine the insurance rates your current insurer provides for your new vehicle. If other insurers provide more excellent coverage, you must switch to a different insurance.
- Move your No-Claim Bonus (NCB) from your old motorbike to your new one and receive a concession on your own-damage premium. *
Moving to a new city is a laborious affair. There are numerous concerns, but your motorbike and insurance coverage is essential. Thus, keep the criteria mentioned above in mind to ensure a smooth relocation and check on how to claim insurance for a bike or car in the new location from your insurer.
*Standard T&C Apply
‘Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.‘
