Insurance is like a spare tyre. You may not require it, but not having one is not an option.
  • 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
    • Bharti Axa Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I am having two wheeler insurance policy from quite long time with Bharti Axa General Insurance. The premium amount for this insurance policy is not more than Rs 3000. I have no claim experience so far with this insurance and the coverage value is good in this policy.
      Was this review helpful? 3
      , bangalore
      Reviewed on Sep 20, 2018
    • National Insurance Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My two wheeler is insured with National insurance from last 1 year. A premium of Rs 2900 has to be paid for this insurance policy. I have not claimed anything so far with this insurance policy. I am happy with the coverage value of this insurance policy.
      Was this review helpful? 2
      , secunderabad
      Reviewed on Sep 19, 2018
    • United India Two Wheeler Insurance
      "Good"
      0.5 4.5/5 "Excellent!"
      I hold a two wheeler insurance with United India Insurance from last 7 years, i pay a premium of approx Rs 800 for this insurance policy and it has tam happy with the coverage value.o be renewed every year. I have no claim experience so far from this insurance policy.
      Was this review helpful? 4
      , chennai
      Reviewed on Sep 17, 2018
    • HDFC Ergo Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with HDFC ERGO from last 2 years, i am happy with the coverage value of this insurance policy. A premium of Rs 1200 has to be paid for this insurance policy and i have no claim experience so far.
      Was this review helpful? 4
      , mumbai
      Reviewed on Sep 14, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a two wheeler insurance with Bajaj Allianz from last 3 years, i am happy with the coverage value of this insurance policy. A premium of Rs 1600 has to be paid for this insurance policy and i have not claimed anything so far with this two wheeler insurance.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 14, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with Bajaj Allianz from last 1 year, i pay a insurance premium of Rs 1400 for this insurance policy. I have not claimed anything so far from this insurance policy. I am happy with the coverage value of this insurance policy.
      Was this review helpful? 1
      , pune
      Reviewed on Sep 12, 2018
    • HDFC Ergo Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I am having a two wheeler insurance policy with HDFC ERGO from last 5 years, i am happy with the coverage value of this insurance policy. I have not claimed anything so far from this insurance policy. I pay a insurance premium of Rs 1100 for this policy.
      Was this review helpful? 1
      , rajahmundry
      Reviewed on Sep 12, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I had a two wheeler insurance with ICICI lonbard for quite long time. I am happy with the coverage value of this insurance policy. I am not aware of the premium amount of this insurance policy. I have claimed 3-4 times and all my claim experience was good.
      Was this review helpful? 2
      , ahmedabad
      Reviewed on Sep 12, 2018
    • HDFC Ergo Two Wheeler Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      My bike is insured with the HDFc Ergo general insurance. The premium is low and I do not have any claim experience with the policy so far. So far there hasn't been any issues with their services. I'll have to wait and see how they respond to my requests in future.
      Was this review helpful? 4
      , bangalore
      Reviewed on Sep 11, 2018
    • L and T Two Wheeler Insurance
      "Excellent Service"
      0.5 4.0/5 "Great!"
      I had taken this insurance policy long time back and i had been making the payments of premium annually. Their customer support also had been good as well and i had also taken a claim which was a good experience. There has not been any hassle faced so far.
      Was this review helpful? 3
      , coimbatore
      Reviewed on Sep 07, 2018
    • New India Two Wheeler Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have my two wheeler insured with New India Assurance from last 2-3 years, i am happy with the coverage value of this insurance policy. My claim experience was good with this insurance policy. A premium of Rs 2500 has to be paid for this insurance policy. I am satisfied with the policy coverage and plan benefits of this policy.
      Was this review helpful? 6
      , chennai
      Reviewed on Sep 05, 2018
    • HDFC Ergo Two Wheeler Insurance
      "Good Service so far"
      0.5 4.0/5 "Great!"
      My bike is insured with the HDFC Ergo. I do not have any claim experience with the policy. The premium is really less. So far there hasn't been any issues with their services. I'll have to wait and see how they respond to my request in future if I'll have any
      Was this review helpful? 3
      , chandigarh
      Reviewed on Sep 04, 2018
    • National Insurance Two Wheeler Insurance
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this two wheeler insurance a long time back. The premium amount which i had to pay every year had been nominal and i had been making the payments online. Their customer support also had been good as well. I had not made any claims so far.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Sep 04, 2018
    • Tata AIG Two Wheeler Insurance
      "Average policy "
      0.5 3.0/5 "Satisfactory"
      I have take a two wheeler insurance from Tata AIG insurance . This policy covers for 1 year . It covers bumper to bumper coverage ,cashless garage benefits . Am satisfied with premium amount which am making the payment. I'm satisfied with the customer care.
      Was this review helpful? 3
      , chennai
      Reviewed on Sep 04, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Normal Service"
      0.5 3.0/5 "Satisfactory"
      My Bike is insured with the ICICI Lombard General Insurance. I am paying a premium 12000, it only covers the metal parts. I do not have any claim experience with the policy so far. There hasn't been any issues with the services as well.
      Was this review helpful? 1
      , guntur
      Reviewed on Aug 31, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with ICICI lombard from last 10 years and it is a good policy to use. The premium amount for this insurance policy is nominal when compared to other policies. I have no claim experience with this insurance and the coverage value is good.
      Was this review helpful? 9
      , pune
      Reviewed on Aug 30, 2018
    • Tata AIG Two Wheeler Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      Premium for this insurance is normal, they took the processing time was less, i have been making payment for this premium for past few years, they have given me the good benefits in this premium, i feel it will give good benefits will be given in future, over all it a good insurance.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Aug 29, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a two wheeler insurance with ICICI LOMBARD from last 3-4 years, i am happy with the coverage value of this insurance policy. I am not aware of the premium amount for this insurance. I have no claim experience so far with this insurance policy.
      Was this review helpful? 5
      , bangalore
      Reviewed on Aug 29, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insurance with ICICI Lombard from last 3 years, i am happy with the coverage value of this insurance policy. A premium of Rs 1200-1500 has to be paid for this insurance policy. I have not claimed anything so far from this insurance policy.
      Was this review helpful? 5
      , kolkata
      Reviewed on Aug 29, 2018
    • HDFC Ergo Two Wheeler Insurance
      "Good Service so far"
      0.5 5.0/5 "Blown Away!"
      My bike is insured with the HDFC Ergo general Insurance. I am paying a premium of 3000 Per year, It covers the entire bike. I do not have any claim expereince with the policy so far. So far there hasn't been any issues with their services.
      Was this review helpful? 6
      , chennai
      Reviewed on Aug 29, 2018
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