How to Transfer Your Existing Bike Insurance to TATA AIG

Mumbai (Maharashtra) [India], January 07: Owning a bike or scooter in India is quite common because they are easy to manoeuvre in traffic and inexpensive to maintain. After purchasing a vehicle, every two-wheeler owner must have a third-party bike insurance policy, which is mandatory by law.

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Different insurance providers offer different types of bike insurance plans. However, maintaining a bike insurance policy that does not offer the satisfaction of being insured is very hard.

This is why policyholders look for bike insurance transfer online. In this guide, we will learn in detail about transferring existing bike insurance to a TATA AIG bike insurance policy.

 What Does it Mean to Transfer Bike Insurance?

Transferring bike insurance means changing your existing insurance provider to a new provider that offers better coverage, lower premiums or additional benefits. It is essential to ensure that there should be no gap in coverage during the transition.

Overall, transferring bike insurance can be a strategic move to meet your needs better and enhance your financial savings. Furthermore, individuals who sell their old two-wheelers also need to transfer bike insurance to the new owner.

 How to Transfer Existing Bike Insurance to TATA AIG?

If you want to transfer your existing bike insurance plan to TATA AIG, follow the steps below.

• Step 1: Visit the TATA AIG website or contact their representative.
• Step 2: Gather all necessary documents, such as an existing bike insurance policy, photo identification, vehicle registration certificate and PUC certificate.
• Step 3: Complete the bike insurance application form correctly.
• Step 4: Cancel the existing bike insurance policy.
• Step 5: After cancelling the old policy, make a payment for your new TATA AIG bike insurance policy.
• Step 6: Once the payment has been processed, the new bike insurance policy will be sent to you on your registered email address.

 Reasons to Do Bike Insurance Transfer Online

Policyholders decide to transfer their existing bike insurance policy to TATA AIG for a wide array of reasons:

High Premium Cost

High premium costs are a significant reason for changing your bike insurance policy. If you discover that another provider offers comparable or better coverage at a lower rate, switching can lead to substantial savings.

TATA AIG provides a range of unique discounts that can significantly help reduce overall insurance costs.

Slow Claim Procedure

A slow claim procedure can be a significant reason for changing your bike insurance policy. When you file a claim after an incident, the expectation is to receive timely support and assistance; however, delays can lead to increased frustration and financial stress.

TATA AIG is known for hassle-free claim procedures that are performed swiftly at the hour of need.

Poor Customer Service

When policyholders encounter unhelpful representatives, long wait times or inadequate support, they can experience frustration and dissatisfaction.

Effective communication and assistance are essential, especially during stressful situations like filing a claim or seeking information about coverage that TATA AIG offers.

 Right Time to Transfer Bike Insurance to TATA AIG

Individuals can change or transfer existing bike insurance to TATA AIG under various scenarios, such as:

During Policy Renewal

A bike insurance policy needs to be renewed after its expiry date. However, if a policyholder feels they need extensive coverage or are not satisfied with their existing bike insurance policy, they can switch the plan to TATA AIG. You can select the plan based on your vehicle requirements.

During Policy Tenure

This is not considered the ideal time to switch to a new insurance provider, but if your existing bike insurance plan is not effective, you can switch to a new one.

All you have to do is inform the current insurance provider about the change and carry out the due process to cancel the current bike insurance plan.

If You Sell Your Bike

Your bike insurance policy is registered under your name. Hence, if you decide to sell your bike, you need to transfer your insurance to the new owner as well. Both seller and buyer need to take the initiative to transfer bike insurance plans.

If You Buy a Bike

If you buy a new bike, you will need to purchase a new bike insurance policy as well. Each policy is specifically tied to the bike it covers, so your existing insurance would not be valid for your new bike.

It is important to ensure that you secure appropriate coverage for your new bike to protect your investment and meet legal requirements.

Lapsed Bike Insurance Policy

When coverage expires, it presents a perfect opportunity to reassess your options and potentially find a better fit for your needs.

You can explore different insurers that may offer more competitive rates, enhanced coverage options, or better customer service.

Conclusion

Having an adequate bike insurance plan is crucial. If you are not satisfied with your existing plan, you can switch to a new insurance provider.

However, it is important to note that there might be bike insurance transfer charges involved, which can vary depending on your current provider and the stage of your policy.

TATA AIG is a renowned insurance provider that offers bike insurance plans tailored to meet your unique bike requirements.

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