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7 Reasons Why Two-Wheeler Owners Should Consider Multi-Year Insurance Plan

7 Reasons Why Two-Wheeler Owners Should Consider Multi-Year Insurance Plan

Two wheeler insurance is widely purchased in India. This is because there are thousands of two-wheelers on the Indian roads. From gearless scooters to high-end motorbikes, we see many models take the roads every day. If you too are a proud two-wheeler owner, you need to get a proper two wheeler insurance cover for your vehicle. You can consider getting a long term cover. Why do you ask? Read on to get your answer.

7 Reasons Why Two-Wheeler Owners Should Consider Multi-Year Insurance Plan

Reasons why you should opt for long term two wheeler insurance

  1. It is economical: First and foremost, buying a long term bike insurance policy proves to be more economical than a regular, one year plan. When you compare two wheeler insurance, you will notice a difference in the prices. So buy such a cover and make some handy savings.
  2. It protects against inflation: A 2 wheeler insurance plan needs to be renewed every year. And every year, the price increases. This is due to inflation. But if you buy a long-term plan, you are only charged the premium at the present year’s rate. So you stay covered for two or three years at the same price, without having to worry about price hikes.
  3. It gives you a longer cover: This is a very obvious benefit, but it is useful nonetheless. When you go for a two or three year 2 wheeler insurance cover, you stay insured for a long time too. Time flies and the cover on your regular year-long plan ends before you even realize it! Buy a long term cover if you want to stay covered for a higher duration.
  4. It protects you from late fees: Like mentioned above, a one-year policy gets over so fast that at times you forget the expiration date is approaching. Subsequently, your insurance cover lapses and you are forced to pay a late fee. This unnecessarily increases your expenses. But when you get a long term plan, you can comfortably forget about all such issues for two or three years and stay protected against late fees.
  5. It is very easy to get: Since insurance providers encourage you to buy long-term plans, they have made it very simple for you to get such a cover. You can go online, compare the available options and make a purchase instantly. There is no complicated documentation process to worry about. You can also get the two-wheeler insurance plan while sitting at home at any time of the day or night. These features indeed make buying long term bike insurance a walk in the park!
  6. You get to customize your plan: You can customize your long term bike insurance plan with riders. This is another benefit of getting such a cover.
  7. Less paperwork to worry about: Even though the documentation process is simple, you still need to spend some time to buy the plan, keep the policy documents safe, etc. it is a tedious task to do this every year. You must, therefore, opt for a long term cover and only worry about these things once in three years. This is a great advantage of buying a long term bike cover, isn’t it?

These are the main merits of opting for a long term cover in relation to a regular two wheeler insurance plan. Keep these points in mind to understand how you will benefit from making such a purchase.

The final word

As you can clearly see from the points mentioned above, buying a long term cover for your two-wheeler proves to be very beneficial indeed. Compare two wheeler insurance to see what your best option is. Once you locate your ideal cover, buy it and ride your bike or scooter with ease.

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