Bharti AXA TWO WHEELER Insurance Why to Buy Long Term Third Party Bike Insurance 17 Apr 2018 Why Go For Long-term Third-Party Motor Insurance We all know how feasible and economic two-wheelers have become nowadays. Regardless of where we want to travel or how long it will take one to get there, many of us prefer them over cars or public transport. With the use of two-wheelers regularly, comes the necessity of buying two-wheeler insurance. Ensuring your motor is very essential, especially when it happens to be your daily choice of the commute. Make sure to have a health insurance policy and a separate motor vehicle insurance policy for comprehensive coverage against any unforeseen exigencies. The third-party coverage for a vehicle involves handling the healthcare and legal charges that may arise when it is involved in an accident. The benefits of long-term third-party motor insurance are: Gives you an easy way out: Suppose you are travelling on the road with your two-wheeler and you have an accident with a pedestrian or another vehicle on the road. In this case, third party expenses and any damage incurred to person/vehicle can be paid for by your two-wheeler insurance policy. If you are held legally responsible for any medical expenses that the other party may incur, the insurer will take care of those expenses as well. Keeps you prepared for life’s curveballs: You never can know when an unexpected accident may occur, and it is always better to stay prepared. When you are on the road, driving, you not only have your own life in your hands but also the life of the people travelling on the road. When you buy motor insurance online, this third-party scheme is usually mentioned as an add-on or another separate mandatory policy cover. When you incur sudden heavy financial or legal losses, this scheme is a must to have as your trusted companion. Offers cost-effective solutions: There are many benefits when you buy two-wheeler insurance with an additional third-party cover. They are not only extremely cost-effective but also offers benefits in terms of premium payable and other financial costs involved. Even though the insured or the insurance company does not have under any direct benefit from this scheme, it is wise to opt for a long-term third-party additional cover as it will cushion a substantial financial loss during unexpected emergencies. They can also be bought very easily through online or offline mediums. Reduction in instances of policy lapse: With the long-term third-party policy, you get the added benefit of increasing the validity of your two-wheeler insurance for up to a period of three years. This is a strategy by Insurance Development Regulatory Authority (IRDA) to get more and more insurers to acquire the government mandatory third-party insurance scheme. With more and more people opting for long-term policies with validity up to three years, the cost-saving of insurance companies increases, as it does not have to bear the expenses regarding the collection of premium and renewal of policies every year (such as reminder calls, notifications and letters). This reduction in costs means that policyholders can get some discounts and benefits. All in all, long-term third-party insurance is highly beneficial for any legal liabilities you may be forced to encounter. Bharti AXA provides this motor third party liability cover. It covers death or injury to a third person or damage to their property, which is indirectly beneficial to the insured in the form of legal or financial costs. This is over and above the standard benefits being offered by the insurance policy to the policyholder. You should remember that this offers you comprehensive protection against the losses that might have to be incurred due to injury death, or damage to the third party or third party property. Explore Our Products Car Two Wheeler Travel Health Critical Illness Personal Accident Bharti AXA Advantages We've raised the bar in being your Two wheeler's ideal insurance companion 4.2 MILLION POLICIES ISSUED 79 BRANCHES ACROSS INDIA 3600+ CASHLESS GARAGE 24/7 CLAIM ASISTANCE Get Quote Request Call Back Category * - Select -CarTwo WheelerHealthTravelPersonal Accident Buy Renew Claim submit Disclaimer : The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Travel needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.