Published On: Wed, Sep 27th, 2017

When your bike is there for a long-term, why not complement it with a long-term bike insurance as well?

Share This

New Delhi: How many times does it happen that you forget the birthdays and anniversaries of your loved ones? While we can do least in helping you remember the special days of your family or friends, we can certainly give you freedom from remembering the renewal date of your two-wheeler insurance policy. Yes, you can say goodbye to annual bike insurance renewal if you opt for a long-term motorcycle insurance policy. These long-term two-wheeler insurance policies come with tenure of up to three years. It means you would not need to renew your policy every year.

Going for long-term two-wheeler insurance online has many benefits of its own. Its convenience and the stress-free nature are attracting bike owners to go for them.

There are some more significant benefits offered by such long-term online insurance for the bike. Have a look at them:

  1. No stress of renewing the policy every year

You are saved from the hassles of renewing your bike insurance every year. Many of us tend to forget the renewal dates, and hence there is a lapse in the policy renewal. But with a long-term bike insurance policy, you don’t have to set a reminder every year. Thus, your problems are solved. Renew this policy after every three years and become stress-free from the yearly renewal task.

  1. You save on your premium

This is an important point and here is the reason why. When you go for an annual bike insurance online policy, you have to renew it every year. And every year IRDAI raises third-party insurance premiums by approximately 20%. When you buy long-term bike insurance cover, for consecutive three years, you escape the annual third-party rate hikes. Hence, your premium does not get revised during the policy tenure. Thus, you save up to 20%-40% on premiums. 

  1. You get the benefits of lower own-damage premium

When you get the long-term bike insurance online, you can avail the discounts on own-damage (OD) part of the bike insurance. As you help the bike insurance company by reducing their administrative and policy-issuing costs, they reward you with low insurance premium rates. Your discount will depend on the kind of vehicle you own, safety and theft risks. Search for the companies having long-term bike insurance online. Talk to their customer care executive and know how this online bike insurance will help you lower the OD premium.

  1. You get the No-claim bonus benefits

You get the no-claim bonus for even a standard short-term bike insurance policy. If you check for this online insurance for bikes, you will definitely read about the benefits of the no-claim bonus. So, how does a bonus differ when you get a long-term bike insurance online?

You no-claim bonus will be much higher as compared to short-term online bike insurance. This amount can increase up to 20%.

  1. You avoid the non-renewal related risks

When you have a short-term bike insurance policy which has lapsed due to non-renewal, you are inviting a lot of risks at your door. If your bike meets with an accident and is damaged, you would have to bear the entire damage amount, and your insurance policy will not come to your aid. But in case you buy a long-term bike insurance online, you are insured for a continuous period of three years. Hence, you are safe from such non-renewal risks.

Why should one go for a long-term bike insurance online?

Owning a bike comes with responsibility. Protecting it from the thefts and damages is essential. This policy not only protects you against various risks but it also provides you with financial security for a longer term. The procedure for owning such policies has also become simple. If you have all the necessary documents, owning the long-term two-wheeler insurance online policy is just one click away.

About the Author