Q. How many years of insurance we get?

IRDAI has made it mandatory for all new two-wheelers to be issued a 5-year insurance cover. This has been done to ensure that the maximum number of two-wheelers remain insured and also to minimize incidents of lapsed, expired policies, and uninsured vehicles. If you have just bought a brand new scooter or bike and decided to go with basic third-party bike insurance, you will necessarily have to buy a 5-year insurance policy. But if you choose to purchase comprehensive two-wheeler insurance for your new bike, then your policy tenure will be 3 years and not 5 years.