Why Should I Get 3-year Bike Insurance?

The only solution to his issue is long term insurance policies. Now you can directly get a 3-year bike insurance policy instead of renewing your policy every year. The best part being that these long term insurance policies are approved by the Insurance Regulatory Development Authority (IRDA). You will not have to keep track of your insurance expiry date every year.

Advantages of getting 3-year bike insurance:

Pay less save more:

When you purchase bike insurance for three years, you save more. You can save on the premium for third-party liability that gets frozen at the start of the first year. When inflation strikes, the price of the premiums also increases by a minimum of 20% annually. So if you have long term insurance, you will end up paying less premium even after inflation strikes. The calculation of the premium is also based on the IDV(insured declared value) of the vehicle. This value is calculated based on the selling price of the brand and model as listed by the manufacturer at the time of the inception of the policy or renewal. As the automobile gets older, the IDV also depreciates. The payable amount remains stable when you get long term motor insurance.


Purchasing three-year bike insurance is very convenient as you will be released from the stress of renewing your motor insurance every year in time. You can relax and not worry about the expiry of your motor insurance for at least three years.

No Claim Bonus:

No Claim Bonus is the discount provided by the insurer if you as a policyholder have not made any claims during the duration of the policy. So when you are eligible to claim 20% during the renewal of a long term policy, then a 20% discount will be applicable for all three years.

Apart from these advantages, there are also some disadvantages to purchasing three-year bike insurance.

You as a policyholder will not be able to take advantage if there is deflation. The premium amount is frozen right at the start of the policy, so if you have long term insurance, the premium will not drop even if there is deflation. Also, you can face a minor loss if you want to sell your automobile. If you decide to sell your car within the three years of your insurance, then it is you who is bearing the cost of the insurance.

But overall, buying three-year bike insurance will be a very wise decision as the chances of deflation are very less. Also, a long term two-wheeler insurance has more benefits.

You can now purchase long-term bike insurance from Future Generali. Gone are those days when you needed an agent to purchase a motor insurance policy. You can directly visit our website and purchase a long-term bike insurance policy.