India is a country with one of the largest two-wheeler population. The growth of two-wheeler users is exponential year on year. It is also the country where according to General Insurance Council (GIC), in 2015 -2016 among the 19 crore registered vehicles 8.26 crore don’t have third party insurance. Most of these uninsured vehicles were found to be two wheelers – Motor bikes and scooters.

The main reasons that people don’t renew their insurance is

  • The number of times the vehicle needs to go for inspection, waiting in the insurance office or the biggest fear of them all paper work

  • There is the case also where people forget to renew their insurance as they forget the expiration date. Most people only look at it when they plan on claiming insurance when it is too late

  • Then there is also the premium that needs to be paid year on year which also increases if you had any claims that year

  • Financial instability where the two-wheeler owner is not able to get an insurance policy as they don’t have the funds for renewal

To solve all these problems the Indian Regulatory and Development Authority of India (IRDAI) has come up with the long-term insurance policy which covers the vehicle for 3 years.

Bajaj Allianz is one such insurance provider who provides 3-year insurance policies

Additional Reading: What Is an Insurance? Why Should You Take an Insurance Policy?

Key Benefits of Bajaj Allianz Long Term Two-Wheeler Insurance Policy

  • Transfer up to 50% of your existing No Claim Bonus (NCB) from any Bike Insurance provider while purchasing our Bike Insurance online

  • Avail 24x7 Call Assistance for claims support and other assistance, even on holidays

  • In case your two-Wheeler Insurance policy has expired, no inspection of your bike is required if the policy is renewed online

  • Get covered for up to 3 years when you purchase your two-Wheeler Insurance Policy, so that you're spared the hassle of remembering the renewal date every year and remain free from any annual renewal procedures

  • Avoid third party premium rate hikes and increase in service taxes that occur almost every year, making sure that you don't face an increase in expenditure during the policy period

  • In case of a claim during your policy period, the No Claim Bonus (NCB) reduces but does not become nil, unlike in the case of a regular two-wheeler annual policy

Basic covers offered by your two-wheeler Insurance

Loss or damage to your two-wheeler due to natural calamities: Your bike insurance policy covers damage caused due to fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide and rockslide

Loss or damage to your two-wheeler due to other unforeseen events: Burglary, theft, riot, strike, malicious acts, terrorist activities and any damage due to accidental external means is covered by Bajaj Allianz's two-wheeler Insurance

Personal Accident Cover: Any bike insurance provides for coverage of Rs.1 lakh for the owner/driver of the vehicle while driving or travelling and mounting or dismounting from the two-wheeler. Optional personal accident covers for pillion riders/unnamed hirers are also available with our two-wheeler insurance policies

Third Party Legal Liability: Protection against legal liability due to accidental damages resulting in the permanent injury or death of a person. Damage caused to the Third party's property is also covered under our two-wheeler Insurance policy

Additional Reading: What Are the Different Types of Life Insurance Policies?

Comparison: Two-Wheeler Long-Term Insurance vs Regular Two-Wheeler Insurance


Long-Term two-wheeler Insurance
(Two or Three years)

Two-Wheeler Insurance
(One year)

Renewal frequency

Once in Two or Three years

Once every year

Coverage period

Two or Three years

One year

Premium hikes

No effect in the TP premium during the policy period

Increase in the TP premium every year

NCB benefit

Additional benefit at the time of renewal

As per tariff

NCB benefit after a claim

NCB gets reduced but does not become nil

NCB become zero after one claim

Mid-term cancellation refund

Proportional refund provision even after a claim during the policy period for the uninitiated policy years

No refund in case of any claim

Additional Reading: 5 Best Term Insurance Plans in India

How to apply for Bajaj Allianz 3-year two-wheeler insurance

The process for applying for a 3-year two-wheeler insurance is the same as for a 1-year insurance.

You can apply for the policy online by entering the mandatory fields and paying the premium or visit the nearest branch to submit the necessary documents and get the policy after payment of premium.