How to renew your bike insurance policy on PhonePe
What's the story
PhonePe, one of India's leading digital payments platforms, has made renewing bike insurance policies easier than ever for its users.
The company's easy-to-use interface lets customers seamlessly navigate through the renewal process and make payments.
As soon as the payment is done, an updated copy of the insurance policy is immediately sent to the email address provided by the user at the time of purchase.
Process
Step-by-step guide to renewing bike insurance
To renew a bike insurance policy on PhonePe, users have to select 'Insurance' and pick the relevant type of insurance.
Following this, they have to tap on 'Renew Now' and make the payment.
The renewed policy is then instantly delivered to the user's registered email ID.
If required, users can also download a copy of their renewed policy from the app by tapping on 'Download' icon in policy details section.
Flexibility
PhonePe allows policy document sharing to alternate email IDs
PhonePe also gives flexibility in receiving the renewed policy document.
If you want your policy document to be sent to an alternate email ID, you can do that by tapping on the 'Email' icon and entering your preferred email address.
This way, you can have easy access to your important documents, even if your primary contact details have changed.
Regulations
PhonePe permits early renewal
PhonePe lets users renew their insurance policy up to 60 days before its expiry date.
This is a particularly useful feature for those looking to avoid last-minute hassles.
Also, as part of the IRDAI regulations, users will have to submit their KYC documents at the time of renewal (if they haven't already).