Significant Benefits of Long-Term Two-Wheeler Insurance

The ownership of a two-wheeler should be supplemented with choosing the right type of bike insurance. The situation can become complicated if you are not aware of the benefits of different forms of two-wheeler insurance.

Many bike owners prefer long-term bike insurance policy, as it helps them avoid the hassles of going through the insurance renewal process. Two wheelers are more vulnerable to road accidents hence, you should choose a comprehensive bike insurance policy that ensures protection from accidents.

Under two-wheeler insurance, your bike is protected against damages that occur due to events like theft, accidents, and more. In this blog, we take a deep dive into the numerous benefits offered by a long-term bike insurance policy.

Avoid hassles of yearly policy renewal

Many people tend to forget paying vehicle insurance on time and end up paying late fees. A long-term insurance policy for around two to three years can be beneficial since the renewal process occurs less frequently.

Reduced Insurance Premium

There is no running away from inflation! With the rise in inflation, the premium rates for both bike and car insurance also tend to rise.

Purchasing a long-term bike insurance policy makes your insurance immune to inflation. The other advantage is that you are paying a lower premium than the premium being paid under an annual insurance policy.

Lower risk of policy lapse

In a yearly bike insurance policy, the IDV (Insured Declared Value) has to be stated by the policyholder after the vehicle goes through a thorough inspection. This exercise can be painstaking and time-consuming, especially if you use offline channels.

In a multi-year policy, the risk of policy lapse is reduced for two to three years.

No Claim Bonus (NCB)

Bike owners should always avail No Claim Bonus (NCB) if there are no claims made by the policyholder in the preceding year.

The benefits offered by NCB will be applicable even for the subsequent years. This is one of the most compelling reasons for choosing a multi-year bike insurance policy over a yearly-policy.

No fines and penalties

As you do not have to renew the insurance policy every year, it reduces the risk of policy lapse. This in turn benefits in avoidance of unnecessary fines and penalties.

Hassle-free cancellation

There is no binding of the policyholder to continue with the same policy till its end of validity. However, you should shift your multi-year insurance policy to an insurer that retains the NCB.

Royal Sundaram General Insurance lets you transfer your NCB when you move from your current insurer to Royal Sundaram.


Though long-term bike insurance policy offers multi-fold benefits, you might not be able to take its advantage if there is a deflation in the premium rates. It is important to evaluate the insurer and insurance policy from different angles before you arrive at the final decision.