Long-Term Two-Wheeler Insurance Explained
What is long-term insurance for two-wheelers?
A coverage known as long-term two-wheeler insurance protects your vehicle from unforeseen events for a period of up to five years. A multi-year bike insurance policy eliminates the have to renew bike insurance annually.
A comprehensive Long-term Bike Insurance Policy covers you for claims against third-party liabilities, damages to your bike due to accidents and natural or man-made calamities, and bike theft, whether the damage is modest or results in a total loss. You can now apply for and check bike insurance online in an easy and hassle-free way. *
Why is long-term two-wheeler insurance necessary?
Bajaj allianz bike insurance that is long-term or multi-year delivers complete peace of mind. It offers comprehensive bike insurance protection under a single policy for a one-time price.
The burden of re-insuring a two-wheeler every year is eliminated by our two- or three-year bike insurance coverage. Additionally, you may acquire our two-wheeler insurance at a lesser cost and with a better claim experience thanks to our long-term two-wheeler insurance policy. *
Consider getting bike insurance for 2 or 3 years to obtain the greatest deal on bike insurance and take pleasure in a stress-free ride for a longer amount of time, whether it’s a motorcycle, scooter, or electric bike.
Important characteristics of long-term two-wheeler insurance *
The key components of multi-year two-wheeler insurance are listed below.
- Policy renewals take place every three years.
- Long-term protection
- No increase in the cost of bike insurance for three years
- Eliminates losses brought on by gaps in policy renewal
- Purchase of rapid long-term bike insurance online
What is long-term bike insurance supposed to cover?
The details of long-term two-wheeler insurance are listed below.
- Losses brought on by natural disasters like landslides, fires, storms, floods, and earthquakes.
- Damages brought on by unanticipated occurrences like riots, vandalism, terrorist actions, etc.
- Theft of bikes is also addressed.
- Accidental harm or losses that result in harm to a third party’s person, property, or vehicle.
Here are several long-term bike insurance options.
- Third-party exclusively for the long-term
Two-wheeler third-party insurance provides a financial buffer from third-party liability. Long-term third-party insurance offers protection for up to three years. It does not, however, cover damage to your bike. For those who just need coverage for third-party obligations, this policy is appropriate. *
- Comprehensive two-wheeler insurance
This policy provides financial security against damages to your two-wheeler for up to three years in addition to third-party insurance. The tenure can be chosen based on your requirements. This coverage is appropriate for people who want to be financially protected from third-party liabilities and damages to their car, such as car theft. *
Factors influencing the cost of long-term bike insurance
The following criteria are used to calculate the comprehensive policy’s long-term bike insurance premium.
- Engines’ power (cc for third-party premium) *
- The insured declared value (IDV) (current market value of the bike) *
- Details for the regional transport office (RTO)
- Year of production
- Accumulated NCB *
Points to consider while doing bike insurance check online before buying long-term bike insurance:
- Coverage: Make sure the insurance policy covers the type of bike you own and the intended use (e.g. commuting, leisure, racing).
- Duration: Check the length of the policy and if it can be renewed for the same term.
- Premiums: Compare the premium rates of different insurance providers and make sure you understand the factors that impact the premium amount. *
- Deductibles: Consider the deductible amount and how it may affect your monthly premium and out-of-pocket expenses in the event of a claim. *
- Add-on covers: Check if the bike insurance policy offers additional covers such as personal accident cover, third-party liability, or theft.
* Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
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