9 Things to Know About Bike Insurance While Relocating

  • Author :
  • TATA AIG Team
  • Published on :
  • 26/09/2023

Relocating to a different destination or a dream location can be fascinating for many of us. The new weather, people, and surroundings excite the travel, relocation, and settlement. However, many of us forget a few critical aspects that need specific notice during a relocation. One of the most important among them is the changes that need to be reflected on your bike insurance policy after the motorcycle relocation.

Here is a detail about some aspects you need to consider about bike insurance while relocating.

Inform Your Insurance Provider

Inform Your Insurance Provider

The first and most important aspect of motorcycle relocation is to inform your insurance provider. You can connect with them and make the necessary endorsements for the bike insurance address change and any other requirements to get it updated on the bike insurance policy. It will be verified, approved, and reflected on your bike insurance plan for further communications and claims.

Register With The Local RTO

If you plan to relocate permanently or for the long term, you need to register your vehicle with the local Regional Transport Office(RTO). It is a process called re-registration and is mandatory. To complete the process, you might have to provide a No Objection Certificate(NOC) from the previous RTO. Once the process is completed, you will have to inform the insurer about the completion of the registration to get the details updated.

Find Your Bike Insurance Premium

When relocating, it is important to research and understand the factors that affect your bike insurance premium. One of the most important factors is the geographical location of your new residence. The weather, terrain, and locality can cause natural hazards such as cyclones, floods, etc., making the place more prone to accidents. As a result, the payable bike insurance premium may be higher in specific areas.

Consider An Upgradation In Bike Insurance

When you are planning to relocate to a new place, you need to consider the area and decide whether you need an upgrade, such as an increase in coverage on the insurance for a 2-wheeler. For example, if you have moved to a metropolitan city prone to frequent accidents considering the traffic, you might have to increase the coverage based on the extent of the costs that you incur.

Cities with high traffic are more prone to accidents and thefts, which can increase the risk of damage to your motorcycle. As a result, insurance providers may charge a higher premium to cover the increased risk. Additionally, suppose you plan to use your bike for commuting or touring the city. In that case, consider adding coverage for theft and damage caused by collisions, which can also increase the premium.

It's also worth noting that your premium may decrease if you move to a place with fewer natural hazards and a lower crime rate. It's always important to research the location and insurance providers before making any decisions.

Consider Including Add-on Covers

When relocating to a new location, it is essential to consider the potential risks and hazards associated with that area and whether you need to add additional coverage to your bike insurance policy. One way to enhance financial protection is by including add-on covers offered by insurance providers.

Add-on covers are insurance options you can purchase in addition to your standard policy to provide extra coverage for specific risks. For example, Roadside Assistance is an add-on cover that can be valuable if you reside in a remote area and have frequent travel plans. It can provide coverage for towing, tire change, battery jumpstart and so on, in case of any breakdowns or accidents. Another example is the zero depreciation cover, which can provide coverage for the total value of any parts replaced due to damages caused by accident rather than the depreciated value.

Researching the add-on covers offered by different insurance providers and comparing the features and costs will help you decide the best coverage for your specific needs and location.

Explore For Offers

When you have relocated to a different place, your insurance provider might provide offers based on that specific place. For example, it can be related to the premium rate, cost of add-on covers, etc. Therefore, you need to explore the offers, terms, and conditions of that branch to avail of the best discounts.

Compare And Research The Insurers If Planning To Purchase A New Vehicle

After relocating to a new location, if you plan to change your two-wheeler, you should always research. Here are a few pointers that you can consider.

Find the best insurers and the recent insurance quotes.

Compare two-wheeler insurance based on the features, add-on covers, and premium rates.

Find what is required based on affordability.

Get the No Claim Bonus(NCB) if available on your old bike to the new bike and get the applicable discounts.

Ensure To Renew Your Bike Insurance Policy

When your bike insurance plan is due for renewal, it is important to get it renewed timely. Amidst the stress and lack of time during the relocation, you may miss out on the financial security benefits if you forget the renewal process. Timely renewal will prevent the bike insurance policy from lapsing and paying higher future premiums when it is revived.

Documents Required On Motorcycle Relocation

Some of the most important documents required for motorcycle relocation are:

  • Forms 27 and 28 from the Regional Transport Office

  • Registration Certificate

  • Bike Insurance Plan

  • Pollution Under Check Certificate for the bike

Conclusion

When relocating with a motorcycle, it is important to inform your insurance provider and update your policy with the new address. You should also re-register your vehicle with the local RTO and consider any changes in coverage or add-on options based on your new location. Additionally, you should explore offers from your insurer and compare policies if you plan to purchase a new vehicle.

Lastly, renew your bike insurance policy on time to maintain financial security. Finally, make sure to keep all the documents ready and follow all the rules and regulations of your new location to have an exciting and comfortable travel lifestyle.

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Disclaimer / TnC

Your policy is subjected to terms and conditions & inclusions and exclusions mentioned in your policy wording. Please go through the documents carefully.

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