Step-To-Step Guide On How To Buy A Long-Term Two-Wheeler Insurance

Two-wheeler insurance is essential for various reasons. The insurance policy protects you financially against unanticipated events like accidents, theft, or vehicle damage. It covers the costs of repair or replacement, ensuring that you are not solely responsible for the financial burden.

It helps you be worry-free and enjoy your bike rides to the fullest! You do not have to worry about the financial consequences of probable accidents or damages. It's critical to understand the precise need for coverage and the terms of your insurance policy to ensure you have the correct level of protection for your two-wheeler.

To assist you in making this important decision, we have a brief guide that will enable you to choose the best two-wheeler insurance online.

Step 1: Know The Types of Insurance Policies for Two-Wheeler Vehicle

The government of India has made it mandatory to buy a one-year policy for a new bike. It is known as the third-party policy or liability-only policy that covers injury, death, or damage caused to a third-party person or property.

The second type of policy is known as the comprehensive coverage or package policy covers loss or damage to the two-wheeler caused by natural or man-made causes, as well as theft. A is a complete policy that protects against natural disasters such as floods and storms, as well as man-made disasters such as riots, strikes, and vandalism.

At Liberty General Insurance, we highly recommend you have comprehensive, long-term 2-wheeler insurance for your bike. We offer both, an annual bike insurance policy and a long-term two-wheeler vehicle insurance online.

Step 2: Understand the Benefits of Long Term Two-Wheeler Vehicle Insurance

• With a long-term insurance policy, you do not have to go through the hassle of policy renewal every year.
• Such insurance policies also offer reasonable and affordable premium plans.
• With a short-term two-wheeler insurance policy, the IDV reduces with each policy renewal, however, with a long-term policy, the IDV remains more or less constant throughout the policy tenure.
• You can also redeem a no-claim bonus in the form of premium discounts in a long-term two-wheeler insurance policy.

Step 3: Evaluate The Need for Add-On Coverages

Identify the risks that are more relevant to you. Ideally, a 2-wheeler insurance policy covers fire, natural calamities, collisions, man-made calamities, theft, and vandalism. Therefore, thoroughly go through the inclusions, exclusions and additional coverages that a policy can offer you. Choose additional coverages that would make sense for you and then create the best two-wheeler insurance suitable for your bike.

Under LGI’s Two Wheeler policy, we provide you with additional coverage options like gap value covers, depreciation covers, roadside assistance covers, consumables covers, etc. To learn more, you can explore the benefits of our policy and the add-on coverages for a two-wheeler insurance policy that we offer.

Step 4: Learn Everything Important Related To Your Two-Wheeler Insurance Policy

• IDV: Insured Declared Value is the current market value of your vehicle. When a claim is lodged, this is the maximum amount that you can expect.
• No claim benefit: A discount is given on renewal if no claims are made by you during the policy period.
• Premium rate spike protection: This is for events when insurance premiums do not rise considerably.

Step 5: Know About the Claim Settlement Process

One of the most important aspects is the claim settlement process. Ensure to get detailed information on the process that should be followed in case of claims. We, at Liberty General Insurance, give you a detailed guide for claim settlement. Also, our customer support offers the best assistance to ensure that the claim is settled on time and without any hassle.

Step 6: Buy Two Wheeler Insurance Online at Liberty General Insurance

The Liberty General Insurance (LGI) two-wheeler multi-year policy is a comprehensive insurance plan designed to provide long-term coverage to owners of two-wheeler vehicles. These long-term bike insurance policies, as opposed to conventional annual bike insurance plans, are for two or three years.

LGI's insurance two-wheeler insurance policy aims to reduce the risk of policy lapse and enable you to be safer on the road. You can now avoid the headache of yearly renewals with longer policy tenures. You will be able to enjoy coverage and benefits under this plan after you pay the cost all at once.

To opt for the best service, assistance, and insurance coverage you can buy bike insurance online at Liberty General Insurance.