Long Term Two-Wheeler Insurance Policy: Everything You Need to Know

Two-wheeler insurance is a category of motor insurance that we purchase for our bikes and two-wheelers. It provides coverage against any damage that is done to the two-wheeler due to man-made or natural disasters.

Although mandatory, a two-wheeler insurance policy has the following benefits:

  1. No Financial Stress –

    In case your bike meets with an accident or gets damaged due to flood or an accident, you do not need to depend on your savings to repair or replace the parts. The insurance policy will take care of such expenses.

  2. Legal Protection –

    The primary objective of an insurance policy is to legally assist you in case you damage a third party or their property. So, if there is any damage done from your end, the car and the driver get protection.

  3. Personal Accident Cover 

    The insurance policy also covers you with a lump sum amount, if you meet with an accident and that leaves to permanent total or permanent partial disability.

  4. Stress-Free –

    A two-wheeler insurance policy ensures that you have peace of mind and you don’t have to be extra cautious every time you’re on the road.

Important features of long-term two-wheeler insurance

  • Two-wheeler insurance is an integral part of the Motor Insurance Act.

  • Two-wheeler insurance provides financial coverage whether the damage is inflicted by you or a third party.

  • Without a valid insurance policy for your bike, you will not only be under the fear of financial obligation, but you will also be punished by the law.

  • Two-wheeler insurance policies provide coverage against disasters like earthquakes, cyclone, landslide, riot, theft, explosions etc. However, to avail these benefits, a pre-determined premium has to be paid by the insured. Personal accident offers a sum assured of up to Rupees 1 lakh by the insurance company.

  • No claim bonus discount of up to 50% can be availed on premiums if no claim is raised during the policy period.

If you’re planning to buy long-term two-wheeler policy online, you must compare all the plans that suit you. Apart from comparison, below are few points one should remember when buying two-wheeler insurance online:

  • What sort of coverage is being offered in comprehensive two-wheeler policy.

  • What percentage of IDV or insured declared value are they settling for.

  • How expensive is thepolicy.

  • What kind of add-on covers are available or are being offered.

  • How vast is the garage network and if they accept cashless repair work.

In buying a long-term two-wheeler insurance policy online, you get to save money, compare IDV and add-on covers, and finally, you can get the best plan for yourself in the market.

Similarly, if you renew your two-wheeler insurance online, you enjoy a host of benefits. Not just that it is easy and saves paperwork but the transaction is completed in no time.

How to renew your two-wheeler insurance online?

A two-wheeler insurance policy can be renewed easily by following the process mentioned below:

  • To purchase a policy online, visit the website of your preferred insurance company.

  • Go to the two-wheeler insurance tab.

  • And then select if you want to buy a new policy or renew an existing one.

  • After clicking on the renew tab, you will be asked to put in all the details of your two-wheeler.

  • Once you have provided all the details, you will be directed to the payment window.

  • Once that is done your renewed policy will be emailed to your Email ID.

Buying a long-term two-wheeler insurance is the best way to ensure that you have complete protection against damages and financial loss incurred due to accident.