Why Should I Get 3-Year Bike Insurance?

In India, it is the dream of every family to own a two-wheeler. One can easily find men and women travel the city and go to different places using a two-wheeler. Despite the extensive use of motor vehicles, the number of uninsured vehicles running on the road is too high. Often, people buy bike insurance just because it is mandatory. If you drive a two-wheeler without bike insurance, you will be penalized. Every year, thousands and thousands of people all across the country pay the penalty for not having bike insurance or non-renewal of bike insurance. 

Insurance Regulatory Development Authority – IRDA has now allowed insurance providers to provide 3-year bike insurance to people. Subsequently, many insurance policy providers have rolled out different policies as well. 

It leads to an all-important question – why should I get 3-year bike insurance? Simple because it has many benefits for you. Find what they are below:


Taking 3-year bike insurance is so much more convenient than other insurance plans. Because in other plans, you have to go through the hassle of yearly renewal. This renewal process includes so many processes. With 3-year two-wheeler insurance policy, it is definitely more convenient for you.


In general bike insurance, the premiums are hiked every year with every renewal done due to several factors like inflation and others. With a long-term 3-year insurance policy, you pay the premium for the next three years together, at once. Hence, you can save more with three-year bike insurance than a one-year policy. 


Non-renewal of bike insurance poses a great risk for the owner of a two-wheeler. Suppose you get engaged in an accident, you will have to bear the financial burden of repair by yourself. Also, non-renewal can happen due to various reasons like people falling ill. Instead of taking chances, it is safe to take a long term 3-year bike insurance which will help you in such scenarios. 

No Penalties

Once you choose 3-year bike insurance, you are free to go wherever you want without being afraid of inspection or penalties. In other words, it gives peace of mind to all who opt for such an insurance policy. 

No Claim Bonus

The long-term bike insurance policies can be better to avail no claim bonus. As the NCB is applicable for 3 years rather than one year, the discount will be for 3 years as well. You must understand how different insurance companies deal with NCB and decide on the best one. 

Other than the five benefits mentioned, many of the insurance companies provide discounts on the policy premium for long-term bike insurance policies. As administrative, policy-issuing, and renewal processes are cut, the same account is given as a discount to customers. Of course, different insurance companies consider different factors to provide such discounts. 

Future Generali is one of the leading insurance companies in India. You can contact us at any time for expert advice on bike insurance and other insurance types.