Buying a third-party bike insurance in India is mandatory by law. Apart from that you can also buy a standalone bike two-wheeler insurance policy or a comprehensive bike insurance policy. But what duration of the policy must be chosen?

Two-wheeler insurance holders know that a bike insurance policy can be taken for a short and long duration. Any type of policy- irrespective of whether comprehensive, standalone, or third-party insurance for bikes- can be taken for a long term.

Even if a long-term policy premium sounds like a costly proposition and a risky commitment, long-term bike insurance can benefit you in multiple ways.

Looking for cheap bike insurance can put you into long-term trouble. Applying for a long-term bike insurance policy doesn’t have to be confusing and a time-consuming process.

In this blog, understand the numerous benefits of a long-term policy and how you can apply for one.

 What is a Long Term Two Wheeler Insurance Policy?

A long-term two-wheeler insurance policy protects your vehicle for a long period. The vehicles of an insurance holder are insured for a maximum period of 3-5 years. The newly purchased vehicles can opt for a 5-year two-wheeler insurance policy.

• A third-party bike insurance can be taken for the 5-year term. This will ensure that you are following the legal compliances for the long term.
• A comprehensive bike insurance policy can be purchased for 3 years or 5 years. Thus, the duration of a long-term two-wheeler insurance policy for a comprehensive type of policy is decided by the insurance holder.

 Advantages of Buying Long Term Two Wheeler Insurance Policy

 Pay Less in the Long Term

The value of the premium for a particular policyholder will be the same over the long term. The premium costs for short-term insurance holders change every year. Long-term insurance holders do not have to pay these incremental costs. That is why long-term insurance holders can save the costs that short-term insurance holders have to pay.

 Buy Two-Wheeler Insurance  For Extended Period

Buying two-wheeler insurance online at once for a longer duration is convenient and time-saving. You can buy two-wheeler insurance online effortlessly without getting stuck in the loop of straining procedures again and again.

 Avoid Break-ins

Many bike owners do not insure their vehicles on time. This results in longer break-in periods. Break-ins refer to the time gaps between the old insurance policy and a new or renewed insurance policy. While the vehicle is not insured in this break-in period, all the liabilities incurred in this period will have to be recovered by the owner.

Break-ins result in checks of vehicles that take place before the two-wheeler bike insurance is renewed. Opting for long-term bike insurance will help you avoid frequent break-ins.

 Steps to Purchase a Long-Term Two-Wheeler Insurance Online

You can easily purchase long-term two-wheeler insurance online as well as offline. The process to buy two-wheeler insurance online is:

 Research and Compare Policies

Researching and comparing insurance policies is essential to ensure you buy the best insurance policy for yourself. An insurance policy is appropriate for the circumstances and meets all your requirements.

 Choose Your Coverage

Choose the coverage of your bike insurance policy. You can opt for a comprehensive bike insurance policy, a standalone bike insurance policy, or a third-party bike insurance policy.

If you are going for a comprehensive bike insurance policy or a standalone bike insurance policy, you can also choose a few add-ons to suit your requirement. Once you have selected your coverage, you can choose an insurance service provider and proceed to the next step.

 Fill Online Proposal

Go to the insurance service provider’s website and select the insurance policy you intend to buy. Fill out the online form. Make sure you fill in all the mandatory requirements.

 Upload Essential Documents

Once you have completed the online insurance proposal, you can start scanning and uploading your documents.

 Payment, Review and Save Documents 

After your documents are uploaded in the prescribed format, you can proceed to make the payment. Once your payment has been made, you will be allotted your insurance policy soon. The time between allocation and allotment varies from company to company.

 Conclusion

A long-term insurance plan can be beneficial in the long run. Choosing an appropriate policy isn’t as hard as it seems. Ensure that the insurance policy meets your requirements and provides adequate coverage. Now, you can buy long-term insurance online without spending much time.

 Frequently Asked Questions (FAQs)

• Where do I find my two-wheeler Insurance details?

The insurance details of your two-wheeler can be found on the

1. Insurance Provider Website
2. VAHAN e-services Portal – Under Section Know your Vehicle Details
3. On the Insurance Information Bureau Website after logging into it.

• What is a comprehensive plan in two-wheeler insurance?

A comprehensive two-wheeler insurance plan is broad coverage that protects your motorcycle or scooter from financial loss in various ways. It includes own damage coverage for accidents, theft, and natural disasters and third-party liability coverage. It protects the two-wheeler from any unforeseen events or accidents caused by its own, nature or the third party.