Why long term bike insurance plan proves beneficial?

Two wheeler motorcycles are the basic mode of transportation for millions of people across the country. In India, many people who can even afford the cars prefer to travel on motorbikes to avoid getting stuck in the traffic jams.  There is no second thought that two wheelers come cheaper than four wheelers, with better mileage, savings on fuel, flexibility to travel and beyond that the happiness of those joyful rides anytime and anywhere. So you cannot afford to lose it for silly reasons. However, inspite of people knowing the benefits of bike they use it recklessly without providing adequate safety for themselves, third party and bike. This might lead to huge financial crisis during accidents on roads, or any other mishaps like burglary, natural calamity losses or manmade incidence damages.

In India, it is mandatory to purchase atleast third party cover if you wish to get your dream machine on road. A comprehensive cover for 150cc bike with a declared value of Rs 30,000 costs will cost just Rs 1,000-1,200. But still many bikers wander on Indian roads without a comprehensive cover for the bike. But now India’s insurance companies have come up with unique option of taking long term bike insurance policy for around 2-3 years. This long term policy comes at affordable costs, value for money and no hassle for policy renewals every year.

A break in your bike policy renewal can prolong a policy purchase process in future. Your policy lapse means most insurers would insist on inspecting the vehicle before renewing it or issuing a fresh policy. Bike owners often miss out on renewing their bike insurance leading to lapse of their policies due to time constraint or other reasons. Therefore, such long-term policy proves beneficial to stay away from such issues. Besides, the facility for online insurance for bikes has helped solve this problem to a great extent. The option of bike insurance online renewal has cut down the hassles of pre-inspection, which in turn has increase the number of insurance for bike getting renewed. Also, insurers are bound to offer upfront discounts on purchasing comprehensive policy

Some companies offer a discount of upto 30% for getting insured till third consecutive year and you will also be entitled for no-claim bonuses post the tenure. IRDAI hikes third party cover tariffs by 20% every year and buying long-term policy will certainly help you save on your premiums for third party liability cover.

With the advent of online service purchasing and renewal of bike insurance has become simple, sorted and quick. You can purchase it anytime and anywhere from the country. However, there are certain things you should be very careful about while purchasing bike insurance online. It is advisable read all the fine print carefully, compare quotes, features & benefits, discounts, flexible premium pay options, hassle free claim procedure, tie-ups with garages, security aspects etc. before purchasing bike insurance. It is always better to explore your options well before coming to particular consensus while purchasing bike cover. A bike policy helps in safeguarding you from sudden road accidents expenses or other perils associated with your vehicle. It acts as a helping hand during this crisis time.