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Ride without worries, with Bharti AXA long term two wheeler insurance plan.
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One must have two wheeler insurance as contingencies might strike anywhere. The government is developing various means to encourage people to renew their two-wheeler insurance. One of the by-products of this effort is the introduction of long term two-wheeler insurance policies by the Insurance Regulatory and Development Authority of India (IRDAI), which lasts for more than one year. You also now have an option of taking insurance for your two-wheeler for three years in one go.
Here are some of the reasons for considering a multi-year bike insurance policy:
If you go for a multi-year two-wheeler insurance policy, one of the immediate benefits is long-term coverage for your bike. The process is in general better than renewing your bike insurance policy every year. Though it is effortless to buy or renew two-wheeler insurance online, still it is better to opt for a three-year insurance in one go instead of doing it thrice in three years.
According to The Motor Vehicles Act, 1988, if you have an expired policy, it is as good as having no plan. Some of the consequences of riding a two-wheeler without valid insurance include being fined or imprisoned. Moreover, with an uninsured bike comes the possibility of suffering immense financial losses whenever an accident occurs.
No-Claim Bonuses can be availed by those policyholders who do not file any claims during the maturity period of the insurance policy. The amount of financial compensation that you are liable to as a two-wheeler insurance policy holder through NCB are different for multi-year policies as compared to single-year policies. When it comes to a multi-year policy, NCB calculation is much more advantageous for the policy owner:
There are three main ways in which you can save immensely on costs by opting for a multi-year policy over a single-year policy. The first of these is the discounts that insurance companies offer for individuals who purchase multi-year policies. The second is the removal of the possibility of having to pay for break-in policies, which emerge during periodic checks of your vehicle by the insurance company in between single year maturity periods. The third is the chance to remain unaffected by changes in standard rates of your two-wheeler during the period covered by the multi-year policy, a liability while on the single-year policies.
So, consider these benefits whenever you buy a two-wheeler insurance policy for your bike.
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Disclaimer :The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Insurance needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice for Travel/Health/Motor. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.
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