Though there is a mandate on getting two-wheeler insurance for anyone who owns a two-wheeler, merely 25% of the owners have one. The hassles associated with visiting insurance company’s office, waiting in queues, applying for renewal, and then awaiting the same puts off many customers in a dilemma that whether to buy insurance policy or not. However, this can be avoided if you go for long term renewal (up to three years at one go) rather than just one year.
Benefits of going for long-term online bike insurance renewal:
- You save on Premiums.
Insurance premiums are never stable and keep rising approximately by 20 per cent every year. If you buy long-term two-wheeler insurance, for three-years in succession, you get to evade the yearly third-party rate hikes that come with your Insurance premiums.
You would just have to pay a cumulative premium for three years. This will eventually save you 20-40 per cent on premiums overall.
- Avoid the paperwork.
Another put-off about the whole insurance renewal process is the heavy load of paperwork you have to go through. The process goes something like this:
Find the best deal, buy it, get print outs, sign them, and send them to the insurance company. Not only does all this require patience, but time too.
Getting a long-term online bike insurance renewal saves you from the hassle of heavy paperwork for three years.
- You get better No-Claim Bonus Discount.
No-Claim Bonus or NCB is a discount you receive on your own-damage premium for every year you do not end up damaging your vehicle on your own.
That is a benefit you receive for taking care of your two-wheeler. The greater number of years you have under your claim-free belt, the more benefits you receive.
- Protect Your Vehicle For Long Without Any Stress.
You would have a lot of things on your mind. A day in today’s world comprises of endlessly worrying about some due date or bill payment. In all this, renewing your two-wheeler policy annually is easy to forget.
When you purchase a long-term cover, you are free from the stress of buying a policy for up to three years. This just means that you have one less thing to worry about or remember.
- Get Covered for Good.
When you buy a long-term cover on your two-wheeler, you happen to bridge the gap between coverage and renewal. Insurance companies run an inspection to check for damages before committing to cover your vehicle.
If you have a long-term insurance coverage, you have protection from Third-party liability, damages, and losses due to both man-made and natural causes, and theft.
There are endless insurance policies out there for you to benefit from. You have to keep an eye out for the best deals, so that you get more discounts on premiums. Online bike renewal insurance for a long-term coverage will undoubtedly help you in the long run. Go for a long- term policy and have a valid insurance for up to three years on your bike.