5 Year Insurance For Bike
From september 1 onwards customers need to buy 3 year third party insurance for cars at the time of purchase and 5 years for bikes.
5 year insurance for bike. The changes as regulated by irdai for two wheelers are applicable for the vehicles purchased after september 01 2018. Sometimes the date slips from the customer s minds and they miss out on the due date having to pay penalties or get challaned for the same. 2 wheeler insurance provides protection against third party liabilities arising from injuries to one or more individuals.
From september 2018 customers had to shell out extra money while purchasing their vehicles as long term insurance had to be compulsorily bought simultaneously. The verdict a two wheeler insurance is mandatory for 5 years many people are still unaware of the recent decision taken by the supreme court on two wheeler and four wheeler insurance. A bike insurance calculator is an online tool that provides you an estimation for the two wheeler insurance premium.
It provides 3 year comprehensive covers for cars 5 year comprehensive covers for two wheelers. Third party or comprehensive and the online bike insurance calculator. The implementation of the 5 year mandatory third party insurance will take out the hassle of getting the insurance of the bike done every year.
The new policy will be available as per the options mentioned below for two wheelers. India is one of the fastest growing automobile markets in the world and it is mandatory that all new cars bikes must take insurance for first year at the time of purchase. Bajaj auto to offer 5 years insurance 5 free services and 5 years of warranty on select motorcycles.
Third party insurance for two wheelers and four wheelers was always mandatory. As the name suggests a long term two wheeler insurance policy gives you and your bike a 360 degree cover against losses suffered due to damage or theft of the insured vehicle for 2 or 3 years as per the cover opted. A long term comprehensive insurance policy a long term comprehensive policy is applicable only for new cars and two wheelers vehicle bought on or after september 1 2018.
You can get your bike insurance premium amount by simply entering your two wheelers make and model date of registration city of registration type of bike insurance policy i e. Two wheeler insurance refers to an insurance policy taken to cover against any damages that may occur to you your motorcycle bike two wheeler due to an accident theft or natural disaster. If you buy a two wheeler insura.
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