Why choose a long term two-wheeler insurance policy 21^st January 2020

Bike rides are thrilling — the wind teasing your hair, the sound of the motor groaning, bringing in a sense of movement, a much-welcome change. If you have a bike then you know how important it is for you — it is your friend, one which doesn’t let you down, ready to go with you on every walk of life. As a bike owner, it is your job to make sure that your riding experience is forever smooth, that there are no troubles attached to it. To begin with, you have to make sure that your paperwork (registration and insurance) is in proper place. Indian law makes it mandatory to have a two-wheeler insurance policy. If your bike insurance has lapsed for even a day, it could land you into some legal trouble! To make sure that your bike-riding experience is smooth and hassle-free, you must opt for a long term two-wheeler insurance policy. Besides, having long term insurance for your bike has its own sets of benefits. Here, we will look at some of the reasons why you should opt for a long term policy for your motorbike.

● Discount on premiums

When you opt for long-term two-wheeler insurance online for your bike, you get the option to avail discount on your premiums. Insurance companies provide you with discounts and incentives since they save on administrative costs if you opt for a long term policy.

● Avoid risks that come with non-renewal and policy lapse

If your insurance policy is not renewed on time, then you are exposed to certain risks. For example, if your bike meets with an accident, or is stolen, and if the policy is not in action, then you would have to bear the entire financial loss yourself. However, if you purchase long-term insurance, such problems can be easily avoided. Besides, if the policy lapses and you intend to renew it later, several insurance companies ask for an inspection of the bike to determine its condition before they decide to renew the policy. If you opt for extended two-wheeler insurance online for your motorcycle which extends for years can easily help you avoid such situations.

● Earn higher No Claim Bonus

No-claim bonus (NCB) is a discount that insurance companies offer on the premium if you have not made a single claim during the insurance term. When it comes to NCB, long-term two-wheeler policies have the upper hand over short-term policies that last for one year. The NCB slab structure for more extended policies is also different from short-term policies. Besides, the NCB discount is additional to any upfront discount which you get on the purchase of a long-term policy.

● Get rid of the paperworke

Choosing a short-term policy makes you liable for much paperwork. You will receive new documents at the end of each policy year. And searching for new and better deals also takes much time — something which not all of us have. If you are someone who doesn’t like the hassle which comes with paperwork, then you should opt for a long-term insurance policy.When it comes to choosing the best bike insurance, Magma HDI two-wheeler insurance policy stands out as they come with a host of benefits. You get additional cover for injury and death, which makes sure that the cover is not just limited to your bike, and extends to you as well. Besides, if you have installed an anti-theft device (approved by the Automotive Research Association of India) in your two-wheeler, you have the option to avail a 2.5 percent discount (or up to Rs 500) on your own-damage (OD) premium. With minimal paperwork and a hassle-free claim process, opting for a Magma HDI two-wheeler insurance online is one of the best options that you have for your long-term bike insurance.