Is It a Good Idea to Go for Multi-year Two Wheeler Insurance Policy?

Long-term or multi-year bike insurance has its benefits. In case you didn't know, you can opt for a long-term two wheeler insurance at the time of renewal. It will keep you protected for at least 3 years in a single premium. In the hustle and bustle of our everyday busy life, it is quite common to forget to renew bike insurance.
But in the case of multi-year bike insurance policy, you do not have to keep track of the due renewal date of your two-wheeler policy. Just one-time premium payment and stay worry-free for 3 years. There are numerous effective benefits for choosing a multi-year bike insurance policy.
Some of the most important features of long-term two wheeler insurance are discussed below:
Easy Policy Portability Option
You can easily port your multi-year bike insurance policy from one insurance company to a different insurance provider after the completion of a certain period as per your two-wheeler insurance online plan and its guidelines.
You No Longer Have to Remember the Date of Your Bike Insurance Renewal Date
You no longer have to struggle with keeping in mind the due date for your two-wheeler insurance renewal. Since long-term bike insurance policy lets you enjoy the benefits of two-wheeler plans for a long time, you can allow yourself to get some leisure.
Save On the Premium Payable
By opting for a long-term two-wheeler insurance online policy, you can save up to 20 to 40% on your premium. That means you will have to pay comparatively lower when you go for long -term bike insurance policy rather than renewing your bike insurance every year. In addition to that, it will also freeze the yearly revision of third-party policy cost by IRDAI.
Easy Cancelation
Buying multi-year two-wheeler insurance doesn't mean you will have to stick to the same plan or coverage until your policy expires. You can cancel or terminate your long-term bike insurance policy and opt for better coverage or other insurance providers of your own choice any time.