What will Happen if you do not Renew your Bike Insurance Policy on Time?
If you do not renew your bike insurance policy before the expiry date and even during the grace period of 90 days, your policy lapses. Many things are likely to happen if you do not renew your policy on time. For example, your no-claim bonus (NCB) discounts will be canceled. Besides, your insurer might impose a hiked premium when you renew the policy next.
Further, you will have to bear the expenses of repairing the third-party vehicle damages in case your bike (uninsured) collides with a third party in an accident. Hence, renewing and staying covered is better to avoid such situations.