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Benefits of buying long term 2 wheeler insurance

Published on July 26, 2019. EST READ TIME: 5 MIN

Most people don’t realize that they have failed to renew the insurance policy for their scooters or motorbikes until they are pulled up by traffic police and asked to produce their documents. Though you may be quite certain that you have all the documents, the police officer will object to an insurance document that has not been renewed, leaving you with a hefty fine on your hands.

With more than 2/3rd of all two-wheelers plying uninsured on the roads, this poses a serious problem. All scooters and motorbikes leave the dealerships with insurance since third-party  two wheeler insurance has been mandated by the Motor Vehicles Act (1939). However, people fail to renew their insurance at the end of one year because they either can’t keep track of renewal dates, or don’t know or care about motor insurance renewal.

Long term two wheeler insurance to the rescue!

In view of this, insurance companies offer long term two wheeler insurance policy , to combat non-renewal. A long term insurance policy provides insurance cover up to three years ensuring that you don’t have to go through the hassle of renewing annually.

All major motor insurance providers like HDFC ERGO, offer long term bike insurance at the time of purchase of the vehicle. This is optional unlike compulsory third party insurance and customers can choose not to avail this but the sheer number of benefits makes this  policy you can’t refuse!

It’s simple and straight-forward to purchase long term two wheeler insurance online. All you have to do is go to HDFC ERGO’s webpage and look for ‘long term two wheeler insurance’ policies.

Types and Coverage

  • Long term third party insurance: Third party insurance only covers third party liabilities for a period of up to three years. This includes financial loss due to death or injury of a third party, damage to third party property, personal accident cover for owner and cover of Rs 1 lakh in the event of death of owner/driver.

  • Comprehensive long term insurance: Comprehensive insurance covers third party and own damage for a period of up to three years. This ensures that losses and damage to your own vehicle in the event of an accident are covered along with the third party insurance coverage.

Why buy long term two wheeler insurance?

Long term two wheeler insurance comes with a host of amazing features and benefits that you can’t afford to miss.

  • No renewal? No problem!: No hassle of renewal for up to three years

  • Avoid policy lapse problems: In the event of non-renewal after policy lapse, your vehicle is not covered against any risks. Also, insurance companies might not reinsure your vehicle without a thorough inspection and other hassles.

  • No worries about premium increase: Once you pay for the long term insurance, you don’t have to worry about increase in premium amounts over the next three years, which means more savings for you.

  • Attractive discounts on premium: Insurance companies are more than happy to provide great discounts on the own damage component of comprehensive long term two wheeler insurance, since they don’t inc

    This blog has been written by

    Mukesh Kumar | Motor Insurance Expert | 36+ years of experience in insurance industry

    A veteran in the insurance industry, Mukesh Kumar has the expertise of handling various functions like Business Development, Underwriting, Claims, Human Resources, Quality Management and Marketing. With rich knowledge of the industry, he loves to share his views on topics of insurance sector and takes special interest in educating people on advantages of having insurance.

    Mr. Mukesh Kumar recommends "getting your two wheeler insured from HDFC ERGO, a brand serving more than 1 crore+ customers. With overnight repair services and more than 6,800+ network garages, you can be assured of help in event of any damage to your vehicle

    ur the paperwork and associated costs of annual renewal.

This blog has been written by

S. Gopalakrishnan | Motor Insurance Expert | 40+ years of experience in insurance industry

A veteran in insurance industry. S. Gopalakrishnan is a name to reckon with in the field of reinsurance, he has headed the Reinsurance department and has rich experience in other fields of motor insurance. He loves to share his opinion on latest topics in the insurance industry and how he can help people in safeguarding their assets using insurance products.

S. Gopalakrishnan recommends "HDFC ERGO for your vehicle insurance needs, it has always put customer’s interest at the forefront, with round the clock assistance to deal with emergency breakdown issues and hassle free claims process. You can be assured of complete and reliable guidance through the whole process".

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  • How to Calculate Bike Insurance Premium in India


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