Long Term Two Wheeler Insurance: Benefits And Why You Should Consider It
Long-term two-wheeler insurance is like a long-term plan that you purchase to safeguard your bike against potential losses. The time period of such a two-wheeler insurance plan may differ depending upon the provider you choose, with a maximum of three years of coverage. Though long-term two-wheeler insurance may look expensive due to the upfront cost, the benefits it offers make it worth it. In this piece, we will explain the benefits and reasons why you should consider buying long-term two-wheeler insurance.
Benefits And Reasons To Consider Long Term Best Two Wheeler Insurance Policy
1. Convenience Of Fewer Renewals
The biggest long-term two-wheeler insurance benefit is that you have the convenience of fewer renewals. The extended period ensures that you have to do the tedious process of renewal every year. Rather, it can be done in 2 years or 3 years based on your long-term two-wheeler insurance renewal plan. So, no worries about missing out on renewals every year, as you have long-term coverage.
2. Protection Against Premium Hikes
Another excellent reason to choose long term two wheeler insurance is that you don’t have to suffer from a premium hike. Every year, based on your need for coverage, add-ons, regulation of IRDS, and tax, premium prices increase. But with long-term two-wheeler insurance, you pay an upfront cost for 2 or 3 years. That saves you from those premium hikes as you lock the rate while ensuring you get the best two-wheeler insurance policy.
3. Continuous Coverage Without Lapse
The hassle of renewing is removed. The two-wheeler insurance benefits for long terms offer continuous coverage. So, no worries if you miss out, as a single purchase gives you extended coverage for a really long time.
4. Discounts And Savings
Doing long-term two-wheeler insurance ties you up with one provider for a long time. But with the best two-wheeler insurance policy and provider, this gives a huge benefit of discount as well. They offer discounted annual bundled prices, which are cheap compared to yearly renewals. Furthermore, to encourage this practice, they even provide unmatchable discounts, which leads to significant savings.
5. Enhanced No Claim Bonus
Long-term two-wheeler insurance benefits in terms of NCB.That means if you have a clear track record with no insurance claims in the previous year, you can get a discount of 20-50%, though that depends on the policy and provider you choose.
6. Easy Cancellation
Even cancelling the long-term best two-wheeler insurance policy is quite easy. You need to check the refund terms when you make your purchase. With the best and premium bike insurance policy and provider, the provider might just refund you the amount for the remaining year. However, if you ask to do this with a single-year plan, getting a refund and switching is not that easy.
Conclusion
Long-term two-wheeler insurance benefits in several ways, like fewer renewals, savings on premium hikes and through NCB, easy cancellation, etc. You never have to worry about missing your renewal as you have long-term coverage. Furthermore, you get several discounts, which is a big savings compared to every year’s renewal. So compare while purchasing long-term two-wheeler insurance and enjoy all these benefits, giving yourself continuous coverage for a longer period.
