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What is a Break-In Period in Bike Insurance?

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It is compulsory to have an active bike insurance plan for every two-wheeler in India. The vehicle needs insurance coverage at all times and this is why you should renew the bike insurance policy on time to avoid a lapse in the cover. When this is not done, the policy lapses and you lose the two-wheeler insurance cover. If you fail to renew your policy on time for a genuine reason, then worry not. The insurance provider gives you a grace period within which you can get the policy reinstated. This grace period is known as the break-in period and is a handy and important component in bike insurance. Take a look at this article to know about a break-in period in greater detail.

What is a break-in period in insurance?

Let us understand what a break-in period is with the help of an illustration. Rahul has a Bajaj Pulsar bike. He bought the vehicle in April 2021 and the insurance coverage was valid for one year. He was due to renew the plan on March 31, 2022. However, due to the sudden hospitalisation of his mother, Rahul could not renew the policy before it expired. His mother recovered and after she went back home on April 12th, Rahul remembered about the policy renewal. Thankfully, his insurance provider offered a break-in period of 15 days and since the period had not lapsed, Rahul went online, paid the premium and his bike cover was reinstated. His NCB was also intact. Had the insurer not offered this grade time, Rahul would have to purchase a new policy.

The break-in period, therefore, is an extended period that you get beyond your policy expiration date to renew the bike insurance plan. While this is a handy benefit, you should not have to ideally use it, as getting your policy renewed before the expiration date is important.

How to renew your bike insurance online

It is very important for you to renew the bike insurance plan on time. Thankfully, the internet has made it very easy for you these days. Everything can be done online and the two-wheeler insurance renewals are no different. If your policy has lapsed and you need to get it renewed within the break-in period, all you have to do is visit the portal of your insurance provider, pay the premium and get it done. This is a big advantage you get over offline renewals. If you choose to renew your bike insurance plan offline in the break-in period, in all probability, your bike will undergo an inspection. This may lead to a hike in the premium. Therefore, look to get the policy renewed online in a quick, convenient and economical manner.

What you need to do to renew your bike insurance policy during the break-in period

As mentioned above, the process to renew the two-wheeler insurance policy online during the break-in period is very easy. The documentation is simple too. You just need some basic KYC documents, your previous policy documents and the RC book of the vehicle. Once you upload these papers and make the payment, the policy will be reinstated instantly. There are however some important points to note when you renew your bike plan during the break-in period, they are:

● The period differs from insurer to insurer:

While most two-wheeler insurance companies offer a break-in period of 90 days, this figure differs between insurers. Thus, you should read the policy wordings and find out the exact allowance that your insurance provider offers.

● Inspection may take place:

If you allow your vehicle insurance plan to remain lapsed for too long, your insurance provider may ask for a physical inspection of the bike when reinstating it. This may lead to an increase in the bike insurance premium and you will unnecessarily end up paying more.

● Best avoided:

While the break-in period is a huge benefit in bike insurance, it is a feature that is best avoided. Ideally, you should be disciplined and pay your bike insurance premium on time to renew the policy before it lapses. Set up reminders or auto-pay options so that your policy doesn't expire at all.

Keep these important points in mind when you look to renew your bike policy during the break-in period.

Consequences of a lapsed bike insurance policy

There can be some very serious problems when you allow your bike insurance plan to lapse. They are:

● No coverage:

The biggest problem is that you will remain without a bike insurance cover. If there is an accident or theft, you cannot make a claim. Even if your bike plan stays lapsed for one day, you cannot claim if there is a mishap on that very day. This is a major consequence of a lapsed bike plan that you should stay away from.

● Legal trouble:

As mentioned above, it is compulsory to have a valid bike insurance cover when you ride a two-wheeler on the roads of India. If you are found riding your bike with a lapsed plan, you can get into a lot of legal trouble. To avoid that, keep your policy updated and active at all times.

● Extra expenses:

You will have to foot all the bike repair costs yourself when your policy lapses. If your bike gets stolen, you have to pay for the replacement out of your own pocket. And finally, if your policy gets cancelled, you have to pay extra and get a new policy. These are all extra expenses that are consequences of a lapsed bike insurance plan. Stay away from them by simply renewing your two-wheeler insurance plan on time.

To prevent yourself from getting into such troublesome situations, ensure you renew your bike insurance plan on time. As you can see from the points mentioned above, the process is simple and quick, so get it done as the earliest.

Conclusion

Motor insurance is very user-friendly. You get several benefits here, including the very handy break-in period. If for any reason your policy has lapsed, make use of the break-in period and get the bike insurance plan reinstated. This will keep you and your vehicle protected against many perils.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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