What Are The Benefits Of Buying Long-Term Two Wheeler Insurance?
If you have bought a two-wheeler, your first step should be to insure it. It is illegal to take an uninsured bike on the road. Moreover, it can also lead to a lot of unwanted trouble. You have to make sure that your two-wheeler insurance does not lapse even by a day.
Previously, two-wheelers could get only a one-year policy. So, most of them would lapse as the owners forgot to pay the premium. That is why long term insurance for two-wheelers is crucial. Bikes can now get insurance for a maximum of three years.
Does long term two-wheeler insurance have any benefits? Let us take a quick look at some of its advantages.
Advantages Of Long Term Two-Wheeler Bike Insurance
- Easy renewals. Renewing a policy every year is much of a headache. You might forget the date. It will put you into deep trouble. If an accident occurs after the date of renewal has passed, you cannot even make a claim. Besides, renewing a lapsed policy is not easy. It will take up a lot of your precious time and energy. However, if you buy a long term policy, you can renew it once in two or three years. Isn’t that convenient? So, whenever you purchase bike insurance online, go for the long term option.
- You will get attractive discounts on long term two-wheeler insurance- You can avail several amazing offers on all long term plans. That is because the insurance companies can save their administrative costs. Besides, they also give other offers and benefits. You cannot take your bike on the road without third party insurance. However, have to insure your motorbike against damages done to it. Several insurance providers give great discounts on first-party insurance. Make sure you do not miss them.
- No Claim Bonus. It is another advantage of long term two wheeler insurance compared to short term policies. NCB or No Claim Bonus Entitles you to a discount on the premium payment if you have not made any claims in the current year. Isn’t that a great way to save money? The no-claim bonus for long term policies is always more than short term plans. So, the next time you buy bike insurance online, make sure to choose long term two-wheeler insurance.
- Your premium rate stays frozen for three year-Third-party insurance tariffs rise every year. The company increases these rates by an average of 10-15%. You might find it hard to pay the rising premium amount. Don’t worry. When you buy long term insurance, your premium rates will remain fixed for at least three years. So. isn’t it a better idea to get long term two-wheeler insurance?
- You can boost the security of your two-wheeler through add ons. A long term policy has the facility of several add ons. These will allow you to get several other benefits. So, you can buy these add ons in the course of the tenure of your plan. Your bike might be very dear to you. Why not buy some additional protection?
- Forget the hassle of collating your documents every year. It is not an easy task. Searching through tonnes of files and doing all the official work is time-consuming. How will you manage all of it? Buying long term insurance will make sure that you will have to take the trouble once every three years. Make sure you compare bike insurance policy options before buying one.
Compare Bike Insurance Policy On PayBima
PayBima lets you compare bike insurance policy options. It is crucial to compare the advantages offered by different plans before making a decision. You need to enter your requirements on their website. They will give you a list of the best two-wheeler insurance plans. Choose a policy according to your budget and convenience. You will also get all the complex terms and conditions in a simplified form so that you can understand them easily.
If you haven’t yet bought two-wheeler bike insurance, why are you waiting? Go ahead and ensure the protection of your vehicle. Visit the PayBima website and compare bike insurance options before buying one and ensure by Mahindra. After all, why should you delay in these crucial matters?