• Why Go For Long-term Third-Party Motor Insurance

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    When you buy a new vehicle, it comes with an insurance cover as it is mandatory to have a motor insurance – at least a third-party insurance – in India. This insurance cover is annual in nature, and has to be renewed every year. But, did you know that more than 2/3rd of motor insurance – whether for two-wheelers or four-wheelers – in India does not get renewed on time and gets lapsed? This means that around 70% of two-wheeler drivers are out on the roads without an active policy. One of the main reasons for this is the yearly nature of the renewal, and there is no grace period on paying the renewal premium.

    If you want your Two wheeler insurance to remain active all the time, you need to renew it before the last date and that too, every year. It does sound like a bit of a hassle, right? But the Insurance Regulatory and Development Authority of India (IRDAI), from September 2014, allows insurance companies to sell 2-year and 3-year policies to its customers. This means that you need to worry about premiums and renewal only once in 2 or 3 years.

    Let us look at the advantages of a long-term third-party motor insurance:

    • The premium payable is in a 3-year policy is thrice the usual annual amount. This amount does not change during the course of the policy. This means that the premiums can neither be hiked nor cut down, and also that the sum assured remains constant for all 3 years.
    • The premiums for a long-term policy generally come with a discount of 20% to 30% of the usual annual premium on the own damage portion, as the tenure of the policy affords the insurance provider benefits that can be passed on to the customer.
    • A 3-year policy also means that you do not have to get your vehicle inspected during the period for any change in the Insured Declared Value (IDV). A vehicle inspection is usually undertaken only if you fail to renew your policy on time and go for a renewal or new policy after a gap of even 1 day from your policy expiration.
    • Under the long-term policy, you can get either a third-party liability insurance or a comprehensive insurance policy that covers your own damage as well. Either way, you will save on premium.
    • As per IRDAI terms, the long-term policy, once issued, cannot be cancelled by the insurance provider for the duration of the policy. The only exception to this is if your vehicle suffers from total destruction.
    • No Claims Bonus is also accrued in a long-term policy, but in a better than a regular annual policy. You could get up to 40% NCB at the end of 3 years compared to 35% in a 1-year policy. Many insurers also offer riders that keep the NCB intact if you make only 1 claim in the 3-year period.

    Why Go For Long-term Third-Party Motor Insurance Reviews

  • Page 1 of 50 1 2 3 4 5
    • Bajaj Allianz Two Wheeler Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I am using the Two wheeler for the past 15 years and I renew the insurance policy only from the BAJAJ ALLIANZ GENERAL INSURANCE company. I have paid Rs,1700 to renew the policy last year . The policy coverage and the plan benefits are good with the BAJAJ ALLIANZ GENERAL INSURANCE company.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 22, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have two wheeler, which got insured with the Bajaj Allianz general insurance company. Customer service is good one for me and the response is an excellent one for me with the Bajaj allianz general insurance company. I have not experienced any claims as such.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 22, 2018
    • New India Two Wheeler Insurance
      "Good Policy"
      0.5 3.0/5 "Satisfactory"
      I took bike insurance from new India assurance now it got expired, the old premium was good. The insurance company gave me good IDV value and they got tie up with good garges. They do have cash less option for bike damage, overall its a good insurance company.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 22, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I have a two wheeler insurance with ICICI lombard from last 3 years and it is a good insurance policy to use. This policy has to be renewed every year and i pay a premium of Rs 2400 for this insurance. I do not have claim experience so far with this insurance but i am satisfied the coverage and plan benefits of this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 22, 2018
    • Tata AIG Two Wheeler Insurance
      "Its Better"
      0.5 4.0/5 "Great!"
      When I was purchasing new bike they gave me default TATA AIG two wheeler insurance, they told premium was around Rs. 1600 for one year. They are providing third party cover, accidental cover and road side assistance with 100% cover on my Bajaj avenger.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 21, 2018
    • National Insurance Two Wheeler Insurance
      "Average"
      0.5 3.5/5 "Pretty good"
      I am having the two wheeler insurance policy with the National Insurance company and the premium value is nominal one for me with them like its around 1500 Rupees. Response and other aspects are also good one with the National Insurance company.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 21, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Protection"
      0.5 5.0/5 "Blown Away!"
      ICICI lombard two wheeler premium was around Rs. 1100 for per year, they gives road side assistance, third party cover and no claim bonus. I have Honda Dream Yuga cost of the vehicle was Rs. 62,000. At the time of activation I got the policy copy from the insurance company its good.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 20, 2018
    • National Insurance Two Wheeler Insurance
      "Customer service should be proactive"
      0.5 4.0/5 "Great!"
      National Insurance premium amount was good than other insurance company, customer service is not upto the mark. I paid yearly fee around 1700, they gave me good IDV value. I have Bajaj 150 discover bike, the insurance company gave nominal feature like third party cover, road side assistance.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 20, 2018
    • Reliance General Two Wheeler Insurance
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had a two wheeler insurance with Reliance for past 2 years. The customer service was really good. I would say the claim experience was good and excellent. I have paid 1000 rupees for this insurance. I get a remainder call, message and email for the policy renewal.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 20, 2018
    • Iffco Tokio Two Wheeler Insurance
      "Good"
      0.5 5.0/5 "Blown Away!"
      My friend suggested the two wheeler insurance with Iffco Tokio so I have gone for it through online. I have paid 1150 rupees for one year to purchase this insurance. The process was immediate. I got a proper response from the customer support.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 20, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Better policy to use"
      0.5 5.0/5 "Blown Away!"
      I am renewing my two wheeler insurance policy from BAJAJ ALLIANZ GENERAL INSURANCE company. I have paid Rs,2000 to renew the policy last year. The customer support is not up to the mark from the BAJAJ ALLIANZ GENERAL INSURANCE company,because they dont give the intimations to renew the policy before the due date.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 20, 2018
    • National Insurance Two Wheeler Insurance
      "Below average"
      0.5 1.0/5 "Really Bad"
      I have a two wheeler insurance with National insurance. I have taken the insurance service directly from National insurance outlet. But I feel they needs to improve their response. The payments are generally through cheques and cash. It is a below average service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 20, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken Two wheeler insurance with ICICI Lombard,the premium amount is 1800 per annum,I make payment at the counter.The policy coverage amount is 50,000,i have no claim experience with them till date.This was taken seven months ago.The model of my bike is Bajaj 200 NS.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 20, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good banking"
      0.5 5.0/5 "Blown Away!"
      I have taken Two Wheeler Insurance with Bajaj Allianz,the premium amount is 1500 in year,its four months since i have taken this four months ago.The bike modal is TVS.I am happy using the policy ,the customer service is response is good.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 20, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Better service"
      0.5 4.0/5 "Great!"
      I have got the two wheeler insurance policy from the ICICI LOMBARD GENERAL INSURANCE company around 3 years ago. The customer support service is good with the ICICI LOMBARD GENERAL INSURANCE general insurance company. They will give the reminders to renew the policy before the due date.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 19, 2018
    • Reliance General Two Wheeler Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I have paid Rs,2000 to renew the policy last year from the RELIANCE GENERAL INSURANCE company,. The policy coverage is good with this policy . I never had any claim experience with this policy ., I would say it is good to use the RELIANCE GENERAL INSURANCE company two wheeler insurance policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 19, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have insured my two wheeler with the ICICI Lombard general insurance company. I would like to say that the customer service is good one and the response is better one for me with them. I have not met up the claims with them till now.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 17, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Its Good"
      0.5 4.0/5 "Great!"
      Recently I faced claimed with ICICI lombard, My bike front part doom got damaged, they claimed the amount of Rs. 5000. They sent the executive, he came and took photos and approved my claim. I paid the amount around Rs. 10,000 they claimed Rs. 5000, they got tie up with wider network.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 16, 2018
    • New India Two Wheeler Insurance
      "Its Better"
      0.5 3.0/5 "Satisfactory"
      Earlier I had New India assurance, I paid the amount around Rs. 850 for one year, they gave me better coverage with road side assistance, third party and accidental cover. ICICI Lombard is better than New India assurance. Customer service was okay not that much satisfactory.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 16, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Average service"
      0.5 4.0/5 "Great!"
      Renewing my two wheeler insurance policy from the past 2 years with the ICICI LOMBARD GENERAL INSURANCE company. The response part is average with the ICICI LOMBARD GENERAL INSURANCE company., The policy coverage and the plan benefits are average with the ICICI LOMBARD GENERAL INSURANCE.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2018
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