ICICI Lombard launches long-term 2-wheeler insurance policy

ICICI Lombard has introduced long-term insurance policy for two-wheelers. Under this plan, two-wheeler owners will be able to insure their vehicles for a period of three years.

Customers will have to pay the necessary premium for the long-term insurance just one time. This will help them avoid the hassle of yearly renewals and save on revision of third party rates.The policy copy of the two-wheeler insurance will be issued immediately online.

Customers can give their bikes for cashless claim servicing at more than 1900 garages across India. They can avail no claim bonus on renewals if the same service was not utilized in the previous policy period. Reminders can be set to inform customers when renewal of the policy is due.

Additionally, co-passengers can avail optional personal accident cover.

The two-wheeler segment consists of a large number of owners who forget to renew their policy after the first year and the introduction of the long-term policies is expected to help reduce the number of uninsured vehicles on the road.