What is Third Party Liability?
- Legal liability due to permanent injury and/or death of a third party
- Legal liability due to damage to a third party's property
No more tedious yearly renewals
Save premium buying purchasing two wheeler insurance online
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This means that two wheeler owners don't have to renew their policies every year. Instead, they can opt for an insurance policy that is valid for three years. What's more by opting for long term insurance you are immune to the revision of Third Party Rates every year resulting in significant savings.
Yearly policy renewals are hard to keep track of, especially when you own more than one insurance policy. Despite renewal reminders, a lot of policies lapse because the owner is unable to renew it in due time. This not only increases unnecessary costs for both the insurer and insured, but also exposes the insured to risk during the period.
Owners may also missout certain benefits if there is a delay in renewing the policy.
With a comprehensive long-term two wheeler policy, you do not have to renew a bike insurance policy every year. You can pay your entire premium for three years through one simple transaction. Payment for all three years can be done in one installment.
Since Third Party Liability (TPL) cover is mandatory by law in India, this changein policy comes as a major relief to two wheeler owners who had to go through the hassle of yearly renewals.
Furthermore, most insurers require a vehicle inspection once a policy lapses, before they renew or issue a policy. Under a long-term policy, this inconvenience is alleviated for three years.
With a long-term insurance policy, you are insulated from the fluctuations in premium every year.
Apart from reducing costs for the buyer, the three-year tenure decreases the cost of issuing policies, administering them and following up for renewals. Any savings made by the insurer can be passed over to the customer in the form of lower premium.
Visit our website to purchase a two wheeler insurance policy with a three-year policy period. Fill in a few personal and vehicle details and generate an instant policy document after paying your one-time premium online. After this, you will not have to bother about renewals for another three years.