A reputable company in the insurance sector, TATA AIG comprehensive two-wheeler insurance guarantees your vehicle is covered against all possible risks while on the road. The company also offers affordable two-wheeler insurance with a transparent payoff, extra add-on coverage, and a countrywide automated garage structure.
The Motor Vehicles Act, 1988, mandates that you have third-party bike insurance. Securing your bike will protect it and you from the monetary risks that come with owning a two-wheeler.
Based on the insurance policy you select, your bike insurance can help cover the expenses of bike repairs and claims by a third party related to physical injuries, disabilities, or property damage, resulting from an accident caused by your two-wheeler.
Let's look at some of the benefits of opting for a long-term two-wheeler insurance policy from TATA AIG.
Advantages of Obtaining a TATA AIG Long-term Bike Insurance Policy
A plan with a policy period of more than a year is known as long-term insurance. The tenure varies according to the company. A TATA AIG bike insurance policy usually lasts between three and five years. So when you get long-term bike insurance coverage, you won't have to renew it yearly, and you pay off the premium in one shot for a multi-year policy.
Please note that all new bike owners are required to purchase a five-year long-term third-party bike insurance plan. The advantages of buying a long-term bike insurance coverage from TATA AIG General Insurance are as follows:
Premiums for Long-term Bike Insurance
The IRDAI or Insurance Regulatory and Development Authority of India raises the price of third-party premiums each year. You will save money on your bike insurance premium if you get long-term coverage because you only have to cover one installment.
Consequently, you won't have to pay the increased premium cost yearly when you renew your policy. In addition, at the time of purchase, TATA AIG General Insurance can offer you discounts on your comprehensive or standalone bike insurance premium, thereby boosting your savings.
Renewal with No Hassles
Because it offers coverage for a longer period of time, long-term bike insurance avoids the need to extend the plan every year. Obtaining and renewing documentation annually takes a substantial amount of time and work. Long-term bike insurance beats short-term insurance plans in this regard.
TATA AIG allows you to renew your long-term bike insurance policy online from the convenience of your home, with minimum paperwork and a quick turnaround.
TATA AIG Long-term Bike Insurance No-claim Bonus
The no-claim bonus in bike insurance element of long-term bike insurance plans is another thing that grabs attention. It provides the NCB in increments, beginning at 20%. All that comes to you on not filing a TATA AIG bike insurance claim during the policy period.
Pre-determined Depreciation Slabs
Depreciation slabs are pre-declared in TATA AIG two-wheeler insurance plans. They apply for determining the insured declared value (IDV) in bike insurance or estimating the claim amount for replacements of the vehicle or its damaged sections.
Cancellation of TATA AIG Long-term Bike Insurance Policy
Based on the terms and conditions of your TATA AIG long-term bike insurance plan, you may be eligible for a full or partial return if you discontinue your long-term insurance policy.
TATA AIG offers various add-on benefits to its policies to broaden the vehicle insurance coverage. In addition, TATA AIG bike insurance add on can offer lucrative add-on benefits, including personal accident coverage, emergency medical expenses, depreciation allowances, and more.
The Bottom Line
There are no hidden clauses under Tata AIG plans that you can't see when the policy is provided. All terms and criteria are stated in the policy document's readable fine print. Moreover, TATA AIG General Insurance offers other reductions and discounts if you are a member of any recognized Automobile Association of India.
Long-term bike insurance is recommended for new bikes that will be kept for over three years. Make sure you thoroughly examine your requirements and ride safely before purchasing a bike insurance policy.