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Updated on Jan 02, 2023
From September 1st, 2018, according to the Motor Vehicles Act, a new bike needs to mandatorily have a 5-year third-party insurance plan. So, if you purchase a new bike, you have the option of selecting:
Because of all these factors, the two-wheeler owners prefer a multi-year plan over a single-year policy. So, next time when you are about to renew your bike plan, you can safely go for a multi-year plan to enjoy these benefits.
Also read: Best Two-Wheeler Insurance Plans in India to Buy in 2022
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PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
Are you planning to buy bike insurance online? If so, you should have a good understanding of some jargons in the insurance sector, especially related.
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