June 18, 2024
New Delhi
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How To Check Bike Insurance?

How to check bike insurance

Bike insurance is a contract between the owner of the bike and the insurance company that covers any damage to the bike caused by an accident, theft, or collision. Bike insurance is very important in protecting financial and legal duties that may occur as a result of an unfortunate accident, a natural disaster such as a fire or landslide, or man-made reasons such as theft, riots, vandalism, and so on.

Read: How To Claim Term Insurance After Death

Motorcycles, scooters, moped bikes, and electric bikes are all covered under bike insurance coverage. According to the Indian Motor Tariff of 2002, every bike owner is required to have at least third-party bike insurance.

The importance of bike insurance

If you own a bike and do not have insurance, it can be incredibly dangerous and unsafe. Paying a small fee for an insurance policy allows you to claim a sizable sum of money in an emergency.

The following are the reasons why any vehicle owner must have a bike insurance policy:

  • Protects you from legal penalties: It is prohibited in India to ride a bike without a valid third-party bike insurance policy. As a result, having comprehensive bike insurance is required, saving you from paying large legal fees.
  • Natural and man-made disaster coverage: Insurance policies cover bike damage caused by natural disasters such as landslides, floods, earthquakes, and fires, among others. With proper insurance, one can quickly file a claim in these unforeseen scenarios.
  • Coverage Against Theft: Theft of your bike might be a serious issue, and the financial consequences of losing the bike can be severe. However, if your bike is insured, you won’t have to worry much because the insurance company will cover the cost of replacing your vehicle as soon as you report the theft.
  • Coverage Against Third-Party Liabilities: Third-party bike insurance, which is required, provides financial protection for your bike against any damages or injuries caused to a third party as a result of your vehicle being involved in an accident.
  • Coverage for Own Damages: One of the most essential reasons to have a bike insurance policy is that it provides financial assistance to the covered bike owner for any costs.

Types of bike insurance policies

There are different types of insurance policies that cater to the needs of different types of people. These are the types that are common in India:

  • Comprehensive insurance policy

This two-wheeler insurance policy covers the owner for the costs of unintentional damage to a third party as well as the vehicle itself. You can even choose add-ons to extend your coverage by paying a small additional price. At a tiny additional cost, it also includes personal accident protection of Rs 15 lakh for accidental death and disability.

  • Standalone owns the damage policy.

Our standalone two-wheeler insurance plan covers damages to your bike or scooter caused by natural disasters such as earthquakes, floods, cyclones, landslides, and so on, as well as man-made disasters such as theft, burglary, riots, strikes, and so on.

  • Third-party protection

This form of insurance policy protects you from legal responsibilities resulting from an accident. Under this form of two-wheeler insurance policy, if your bike injures a third party or damages his or her property, your insurer will cover the costs.

How to know the status of bike insurance?

If you wish to ride a motorbike or scooter on Indian roads, you must now carry two-wheeler insurance. Actually, when operating a two-wheeler in India, the government has made it obligatory to obtain at least third-party liability insurance. So, if you don’t have one or if the one you have has expired, you could end up with legal problems.

This implies that it’s important to keep track of the status of your coverage. However, many of us are prone to misplacing and losing paperwork of many types, including insurance policy documentation. However, using the registration number of your two-wheeler, you can now check the status of your bike insurance online.

Your bike’s insurance coverage is connected to its registration number at the time of purchase. With the rapid rise of Internet technology and the digital transformation of businesses gaining traction, obtaining a bike insurance policy has become simple and straightforward. To make the process more secure for consumers, the government has validated and certified a few websites where you can check without fear of personal data being compromised.

  1. Check the status of your motorcycle insurance with the IIB.

The Insurance Information Bureau (IIB) is a web platform created in 2009 by the Insurance Regulatory and Development Authority of India (IRDAI) to facilitate the efficient running of the Indian insurance industry. All information pertaining to insurance policies issued in the country is available here. These are the steps to check the status of the insurance policy for two-wheelers:

  • Visit the IIB’s official website at https://iib.gov.in/.
  • On the home page, click or tap the V-Sava tab in the “Quick Links” section.
  • You will be transported to the “Accident Vehicle Information Retrieval System” page.
  • Fill out all of the essential information, including the owner’s name, address, phone number, email address, and bike registration number.
  • Fill out the captcha.
  • Tap or click the “Submit” button.

The insurance information for your two-wheeler will be displayed on the screen of the device you are using to access the site. This includes precise details about your bike insurance coverage, such as the expiration date. However, there are several things to keep in mind when utilising the IIB portal to check your bike insurance status online. The web portal offers information about the insurance plans of vehicles purchased.

However, this website provides detailed information only to those people whose motor vehicle insurance policies were purchased after April 1, 2020. Moreover, a policyholder can view the details of the policy on this website only three times using the same email ID and mobile number.

  1. Contact the executive of the IIB office: There is one more method to check the details of the vehicle insurance policy by using this website. Follow the given steps:
  • Go to the IIB website.
  • You will find a query form there. You are required to fill out that form.
  • When you provide the details, an executive from the IIB office will call you to let you know the status of your policy.
  1. Check your two-wheeler insurance status online using VAHAN.

If you are unable to verify the status of your two-wheeler insurance through the IIB portal, you can go to the Ministry of Road Transport and Highways’ (VAHAN) official website. The steps are as below:

  • Visit the VAHAN website at https://vahan.nic.in/nrservices/ to learn more.
  • At the top, you will find the icon “Know your vehicle details”. Click that icon.
  • Create an account by entering your mobile phone number.
  • After creating the account, enter your vehicle’s registration number and verification code of your bike in the space given.
  • Tap on the “search vehicle” icon.
  • The screen will provide information about your bike insurance.

If you want any further information, go to the Regional Transport Office’s or the State Transport Department’s official websites.

  1. Check your insurance policy status online with the help of your insurance provider: The insurance provider has all the details of the motor vehicle insurance policies. You can contact the insurance provider to check the status of your policy. You only need to visit your insurance provider’s website, where you should upload the details of your insurance policy.
  2. Checking status offline: In case you are not able to check your insurance policy status online, you can check your status offline. You should have all the details of the policy. Go to the insurance office, and you can inquire about the renewal date and any other information from there.

Benefits of checking the status of an insurance policy

You should always have a record of your insurance policy status to keep yourself financially covered. The most convenient way to check your policy’s status is by visiting the IIB website. There are many benefits to having a status record, such as:

  • Avoid Wastage of Money: In case your policy lapses because of your negligence, you will have to make an extra payment for the renewal of the policy. But keeping track of the policy status will help you remember the due date of the policy renewal.
  • Avoids risk: If you forget to renew your insurance policy and your policy lapses, in such a condition, if your bike or two-wheeler is damaged in any accident, you will have to bear the expense of repairing yourself.
  • Gives mental peace: If you renew the insurance policy on your vehicle in time, it is a great relief to you. It is only possible if you are well aware of the status of the insurance policy on your bike.

Conclusion

Finally, through a variety of methods, validating your two-wheeler insurance status online has become increasingly convenient. These methods allow you to quickly recover your insurance details, policy expiry date, and other vital information, whether you use the Insurance Information Bureau (IIB) portal, VAHAN e-services, or your state’s RTO website. These simple online tools keep you up to date on your motorcycle insurance, allowing you to ride with confidence and peace of mind.

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