A policy endorsement is nothing but making a request in the details to accommodate any change that may have happened in the vehicle. If you make an addition to the bike or remove a crucial part form it, it will impact the online 2 wheeler insurance cover. Also, as a policyholder, if you have some important changes such as a new phone number, you need to get it endorsed in the policy documents. Take a look at this article to know how you can get an endorsement done.
Changes in the vehicle – no additional payment
Some changes in the two-wheeler insurance online plan would cost money and some can be done free of cost. Let us first look at the changes that do not require you to pay an additional premium:
- Change in the name of the policyholder
- Change in the address of the policyholder
- Change in the contact information of the policyholder (phone number, email ID, etc)
- Change in the nominee details
These endorsements can merely be done by informing the insurance provider. You can call up the customer support helpline and get the job done quite easily. No documents are required in this case. Also, since it does not change the scope of the two-wheeler insurance online plan, you do not have to pay any extra premium or make any other payment.
Changes in the vehicle – additional payment required
Some changes in the policy lead to a change in the insurance cover. This is because the insurance plan is bought to cover every single aspect of the bike. If you have made modifications, let us assume, your tires are now bigger and different, you will need extra insurance to cover them properly. Your insurance provider needs to be informed. You will be given a new quote and you have to pay the additional premium thereafter. Here are a few ways in which vehicles are modified and how they are endorsed in the policy documents:
- Change in fuel type: If you have added a bi-fuel to the car, you need to present the RC copy to your insurer. All the details must be updated in the RC copy.
- Change in the electrical installations: If you install a new electrical device in the vehicle, you need to show a copy of your RC book and pay the required premium.
- Change in registration number: A copy of the RC book needs to be submitted stating the old and the new registration numbers.
- Change in location of registration: A copy of the RC book is needed.
- Chassis or engine number: Any changes in the chassis or engine number would require you to submit a copy of RC book.
- Financer details: If you change your loan provider, you need to get it endorsed on your online 2 wheeler insurance policy documents. An attested letter from the lender along with a copy of the RC book is needed for this.
- Transfer of ownership: A proof of transfer, along with a copy of the RC book is needed.
These are some common endorsements that are carried out. If you need to make some of these changes, don’t wait till it is time to renew two wheeler insurance. Do it as and when the change happens and keeps your policy coverage up-to-date at all times.
The final word
Getting a good two wheeler insurance online plan is not always enough. You need to modify it and keep the coverage sufficient and updated. This will help you to make a proper claim when the time comes. You can also look to renew two wheeler insurance online and not miss the renewal deadline. However, as stated, if you make any changes in your vehicle, inform your insurance provider right away, even if it is in the middle of a policy period. Get your policy endorsed and enjoy proper coverage.