Why You Should Renew Your Policy Before It Gets Expired

Posted on January 05,2023


Recently IRDAI (Insurance Regulatory Development Authority of India) revealed that more than 75% of two wheelers are running on roads without insurance, despite being made mandatory by law. While purchasing a new vehicle, it is mandatory to having vehicle insurance but issue arises when people ignore to renew or forget to pay premium on time. And once your policy gets expired, your security is at risk.
So, why you should renew your policy before it gets expired?

1. Your No Claims Bonus (Or NCB) will be forfeited if the policy is allowed to lapse for more than 90 days.NO-CLAIM-BONUSVisit www.shriramgi.com to renew your policy.

2. Once your policy gets expired, Pre inspection gets mandatory to renew your expired policy. PRE-INSPECTION for insurance

3. Once your policy gets expired, you and your vehicle, both are at risk. VEHICLE-AT-RISK

4. You need to pay High Premium because you won’t be able to avail discount.HIGHER-PREMIUM

Myth about policy renewal

Most of people think that you can renew your policy on its due date only. Kill this myth. According to IRDAI,you can renew your policy before 60 days from its due date

Visit Shriram General Insurance to buy/renew two wheeler insurance and Car Insurance.


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IRDAI Consumer Education:- Insurance is the subject matter of solicitation. IRDAI Registration Number - 137. CIN No. U66010RJ2006PLC029979. BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS. IRDAI clarifies to public that IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.

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