The excitement of riding a bike gets doubled when you know that you two-wheeler is protected with an effective two wheeler insurance policy. As per motor vehicle act 1988, if you want to ride a bike on Indian road you must opt for a two wheeler insurance policy. So to ride your bike legally, two wheeler insurance plan is mandatory. You not only have to buy two-wheeler insurance online but you also have to renew every year before it expires. In case, your bike insurance policy gets expired, you have to face a lot of hazards to renew it. But there is good news for scooter and bike-owners in India; many two wheeler insurance companies have come up with long-term bike insurance plans. You now don’t have to worry about insurance renewal, since, these two wheeler insurance policies come with a host of benefits.
Reasons for opting long-term two wheeler insurance plans
You don’t have to renew two wheeler insurance every year. Once you buy a policy, you can rest assured for as many as three years. People those who have multiple insurance policies find it very inconvenient to remember all the renewal dates and as a result they tend to forget to renew their two wheeler insurance policy in time. But if you own long-term two wheeler insurance plans, you don’t have to face such hazards.
There are many risks of not getting two wheeler insurance renewals done in time. If you drive without a valid two wheeler insurance policy and get caught, you will have to pay a hefty fine. And, if you get involved in any accident, your bike insurance plan will not shield your financial expenses. By availing a long-term two wheeler insurance policy you can steer clear of these unwanted hazards.
You can save on your insurance premium if you opt for a long-term two wheeler insurance plan. The third-party premium rate is determined by IRDAI and it keeps increasing year on year. However, this rate remains fixed for the tenure of the long-term two wheeler insurance policies, so you don’t have to pay increased third party premium on your long-term two wheeler insurance policy premium.
Long-term two wheeler insurance is it doesn’t misuse your entire NCB even if you make a claim. If you don’t make any claim, you will enjoy higher NCB slab on the following year.
For all these reasons, long-term two wheeler insurance policy is one of the best insurance plans for bike in India.
Anshiroy 