3 min read
Updated on Nov 14, 2022
As the saying goes, with power comes responsibility. Owning a two-wheeler ensures you with the position of being the owner of a personal vehicle, but you need to maintain certain protocols for enjoying hassle-free ownership. Maintaining a valid two-wheeler policy is one such essential step. It is compulsory as per the current Motor Vehicles mandate. A multi-year bike insurance plan has become quite popular these days. This means a policy plan that insures a particular bike for three consecutive years.
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What is a multi-year bike insurance plan?
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:
Features of bike multi-year insurance plan:
Benefits of bike multi-year insurance plan:
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.
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.
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