Renewing bike insurance every year is one of those chores riders forget - until a policy lapses.
That’s why IRDAI introduced long-term two-wheeler insurance policies, which let you stay
covered for 2-5 years in one go.
No yearly reminders, no inspection risks, and major savings on premium hikes.
In Hyderabad, Telangana, more than half of new bikes are now insured under multi-year policies because of
their convenience and lower cost.
This guide explains how long-term two-wheeler insurance works, its advantages, and why it’s the best
choice for anyone looking for stress-free protection and long-term savings.
What is Long-Term Two-Wheeler Insurance
A long-term policy provides continuous coverage for 2, 3, or 5 years instead of one
year. You pay a one-time premium and stay protected without annual renewals.
| Policy Tenure |
Coverage Duration |
Renewal Frequency |
| 1 Year |
12 months |
Every year |
| 3 Years |
36 months |
Once in 3 years |
| 5 Years |
60 months |
Once in 5 years |
Mandatory IRDAI Rule: All new two-wheelers sold since September 2018 must have at least
5 years of third-party cover.
Why Long-Term Insurance Makes Sense
- Saves money: Locks in current rates for multiple years - shields you from IRDAI
annual premium revisions.
- Avoids lapses: No need to worry about missing renewal deadlines.
- Protects NCB: Continuous coverage helps you build NCB faster.
- Less paperwork: One policy, one payment, one reminder every few years.
- Lower inspection risk: Coverage remains active for years without break-in delays.
Cost Savings Example (3-Year Policy)
| Bike Type |
1-Year Premium (₹) |
3-Year Policy (₹) |
Total Savings |
| Scooter |
900 × 3 = 2,700 |
2,200 |
₹500 (19%) |
| Commuter Bike |
1,200 × 3 = 3,600 |
2,950 |
₹650 (18%) |
| Sports Bike |
2,400 × 3 = 7,200 |
5,900 |
₹1,300 (18%) |
(Values vary by insurer, RTO, and add-ons.)
Benefits of Long-Term Two-Wheeler Insurance
- No Annual Premium Hike - locks in current IRDAI rates.
- Continuous NCB Growth - claim-free years build uninterrupted discounts.
- One-Time Payment Convenience - no annual reminders.
- Inspection-Free Renewals - prevents lapse or break-in issues.
- Discounts for Multi-Year Buyers - insurers reward long-term customers.
Add-ons Recommended for Multi-Year Policies
| Add-on |
Why It’s Useful Long-Term |
| Zero Depreciation |
Full claim value for all years - best for new bikes. |
| NCB Protect |
Keeps NCB intact across 2-3 years even after small claims. |
| Roadside Assistance |
Multi-year coverage for emergencies anywhere. |
| Engine Protect |
Especially valuable in flood-prone cities like Hyderabad. |
| Return to Invoice |
Protects against theft or total loss. |
Who Should Opt for Long-Term Coverage
- New bike owners (required for 5-year TP).
- Busy professionals who forget renewals.
- Riders in flood or theft-prone zones.
- People planning to keep their bike for 3+ years.
- Families with multiple bikes - easier to manage as a group plan.
Local Insights for Hyderabad
- % of new bikes under 3-5 year plans: 46%
- Avg. premium savings: ₹2,800 per bike.
- Top insurers with long-term discounts: HDFC ERGO, ICICI Lombard, Bajaj Allianz.
- Most popular tenure in Maharashtra: 3 years.
How to Buy a Long-Term Policy Online
- Visit PolicyBachat → Select “Two-Wheeler Insurance.”
- Enter bike registration number and city.
- Choose tenure (1, 3, or 5 years).
- Compare premiums from multiple insurers.
- Add relevant add-ons and pay securely.
- Get your e-policy instantly - valid for full term.
Pro Tip: For new bikes, always choose 3-year comprehensive + 5-year third-party combo
for maximum protection.
Drawbacks to Consider
- Upfront payment slightly higher.
- Cancellation refunds are pro-rated (you don’t get full refund if canceled early).
- Add-ons fixed for full term - cannot change mid-policy.
Get Your Two-Wheeler Covered Today →
FAQs
Is long-term two-wheeler insurance mandatory?
Only 5-year third-party cover is mandatory for new bikes; long-term OD is optional but recommended.
Can I cancel my long-term policy early?
Yes, but refund depends on remaining period.
Can I switch insurers mid-term?
Only during renewal after expiry.
Does long-term policy cover theft?
Yes, under comprehensive coverage.
Can I pay in instalments?
Some insurers offer EMI options.
Does claim affect long-term NCB?
Yes, resets NCB for all remaining years.
Do I get discounts on 5-year policy?
Yes, most insurers offer 15-25% long-term discount.
Can I add or remove add-ons mid-term?
Only at renewal, not mid-policy.
Is long-term TP cover cheaper?
Yes, IRDAI offers bundled TP discount.
Does it apply to electric bikes?
Yes, EVs can also take 3-5 year policies.
What if I sell my bike mid-policy?
Transfer remaining coverage to new owner.
Can I renew early?
Yes, within 45 days before expiry.
Is long-term insurance available for old bikes?
Yes, up to 10 years of vehicle age with inspection.
Do insurers inspect at renewal?
No, long-term policies skip annual inspections.
Can I convert 1-year policy to long-term later?
Yes, at next renewal cycle.
Customer Reviews
- “Switched to a 3-year plan - no more renewal headaches!” - Rohit Sharma,
Pune
- “Saved ₹800 instantly by going long-term.” - Pooja Menon, Kochi
- “Worth it - peace of mind for the next 5 years.” - Sandeep Verma, Delhi
- “PolicyBachat showed me 3 insurers side by side - super convenient.” - Farhan Shaikh,
Hyderabad
- “I forget renewals - this solved that problem completely.” - Reena Nair,
Bengaluru
- “Affordable one-time payment, no hidden costs.” - Deepak Rathi, Mumbai
- “Engine Protect and RSA for full 3 years - perfect combo.” - Anita George,
Chennai
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