Is your bike insurance nearing its expiration? If yes, you might be wondering, "Can I change my bike insurance company?" You can change your bike insurance company if you are dissatisfied with your current insurer. Keep reading this blog to learn how to change two-wheeler insurance company.
When can I change my bike insurance plan?
If you are looking for lower premiums or considering a few add-ons to your bike insurance, it may be advisable to change bike insurance company. Listed below are the opportunities for updating your bike insurance:
During policy renewal
Your current insurer will notify you when your current plan begins nearing its expiration date. Keep an eye out for these notifications if you wish to change the plan. Choose a new insurer that may meet your demands when it comes time to renew your bike insurance policy.
In the middle of the policy period
You can also switch your plan during the policy term if you are dissatisfied with your current policy or if your bike gets stolen. All you need is to cancel the existing policy.
Change of ownership
If you wish to sell your bike, you may transfer the existing insurance plan to the new owner.
Purchase of a new bike
You do not have to buy a new insurance plan if you purchase a new bike, but you can change the details of coverage. However, your premium might be affected as the insured value of your bike changes.
Conclusion
Don't change your bike insurance company solely for a lower premium or a cheaper plan. Instead, take the time to compare various bike insurance policies and choose the one that best meets your needs. Choose an insurer that has a good reputation, services, and claim settlement ratio.