Bike Insurance Endorsement

An endorsement in your bike insurance refers to changes to your existing policy documents. Such types of changes or alterations either relate to your bike details or your personal information. If you want to increase your policy coverage midway or rectify any erroneous details, you can do so by submitting an endorsement form.

Simply put, a bike insurance endorsement is a piece of written evidence detailing agreed-upon changes to the insurance for your bike. Depending upon the modifications, the insurer may provide you with the new policy document.
Let's understand this concept with an example.

Assume you bought a comprehensive insurance policy from Tata AIG in May 2022. After receiving your policy document, you notice the bike's registration number and chassis number are incorrectly imprinted. Here, you can immediately submit your request for rectification through the bike endorsement form with supporting documentation. The endorsement meaning in insurance is nothing but making corrigendum in the policy.

Endorsement under long-term two wheeler insurance is broadly classified into two types. The first is a change in your existing policy's details, and the second is new policy additions. Here is a more in-depth explanation.

**Changes in existing bike insurance details **

Two wheeler insurance endorsement allows you to modify or correct errors available on your existing bike insurance policy. When you apply to your insurer for such changes, and they accept it, the insurer must provide you with a new document that replaces the old one. Some common changes you can make here are changes in address, surnames, contact number, email id, and a few more. In bike insurance endorsement, you may also request changes to improve policy coverage and other policy conditions.
Whatever changes you make, always cross-check the newly issued document with the endorsement copy to ensure the changes are correct.

Additions to current bike insurance details

Aside from changing your policy details, you can also request changes to your policy's existing terms and conditions. The endorsement in the insurance request can be carried out here by including specific clauses. There is no need to change the entire policy document for minor changes. You can also make endorsements to boost the existing policy coverage.

Various endorsements are permissible by your insurer during the policy period. Here is a full list of them.

• A change or correction in your name.
• A modification or rectification in your contact number or email address.
• A change or rectification in your residential address.
• Rectification of your bike's registration, chassis, and engine number.
• An application for altering or adding a voluntary deductible.
• Any correction or modification related to your bike's manufacturer and model
• Request for changing or modifying the bike's manufacturing year
• Any mismatch in your two-wheeler insurance premium.
• A change or rectification in your bike's fuel type.
• An increase or decrease in the two-wheeler insurance's Insured Declared Value (IDV).
• Any changes or modifications related to your bike's cubic capacity.
• Request for adding or removing aftermarket accessories installed in your bike.
• Request for adding CNG or LPG kit.
• A rectification or modification related to your bike's seating capacity.
• Any changes or corrections related to pillion rider coverage.
• Any changes related to the nominee mentioned on the policy.
• Request concerning two-wheeler ownership transfer
• Any addition or removal of two-wheeler insurance riders such as zero depreciation cover.

Two-wheeler insurers expect their policyholders to make changes to their policy as their needs change and to comply with any new government regulations. You are allowed to file an endorsement 'n' number of times. However, various experts suggest avoiding submitting multiple changes during a policy year. The reason is multiple changes increase the risk of any mistakes and errors. Such mistakes may cost you a good amount of money depending upon the nature of alteration or changes. As a result, it is recommended that you thoroughly review your entire policy, noting any errors and omissions. Make a list of any changes you want to make to your policy. When you are finished with the list, submit it all at once using the endorsement form.

Submitting a policy endorsement request is a straightforward process. Here are the steps you need to follow.

• Contact your insurer's customer support executive by dialling a toll-free number or sending an email to the email address listed on the website.
• Share the basic details of your policy, such as policy number, your name, etc.
• Share the specifics of the changes you want to make to your existing policy.
• Provide documentation to support the requested changes.
• Your insurer will verify the information and provide you with an updated insurance document if everything checks out.

List of documents required for specific endorsements.

Addition of bio-fuel:

You need to submit your bike's registration certificate.

Addition or change in insurance cover:

You need to provide a copy of the original purchase invoice of your bike and a registration certificate.

Nominee modification:

You can modify nominee details without furnishing any document.

The effect on the premium of your bike insurance online depends upon the changes you have requested. If the change or correction is for personal information, such as an address change or contact information, your premium will remain unchanged. The list of changes or corrections influencing your policy premium is listed below.

• Change in voluntary deductible
• Installation of anti-theft devices
• Correction in engine's cubic capacity
• Installing various aftermarket accessories
• Purchasing add-on covers

If you fail to notify your insurer of the above via endorsement forms, the likelihood of your insurer rejecting your claim is high. Remember that add-on purchases are only permissible at the time of policy renewal.

Your two wheeler insurance endorsement takes effect the day your insurance company approves and endorses such modifications. The modifications remain valid till the expiration of your policy or until the request for a new endorsement has been executed. In case you have requested changes to a specific component of your bike insurance plan, the validity is based on the policy's terms and conditions.

Regardless of how many times you submit your endorsement request in a policy year, the insurer won't charge a rupee for it. However, depending on the type of endorsement, your premium may change.

The option to make an endorsement is advantageous in many ways. It can save you from traffic fines and ensures a smooth claim settlement, among other benefits. The flexibility provided by two wheeler insurance endorsement allows you to make changes at your leisure an unlimited number of times.