IRDA had approved the three year insurance cover for the 2 wheelers, however the premium for the same is going to be at least 2.5 times (IRDA circular calls for 3 times) the single year premium. This is now not just limited to TPL premium but for comprehensive coverage too. This becomes now an expensive affair. Although a 3 year policy eliminates the need for yearly renewals, helps Insurance co to reduce the yearly paperwork, the customer is locked for three years for the same premium. This helps beat the inflation and any increase in the yearly premiums but does not talk anything about the No Claim bonus applicable in case of claim free year. It is also not clear how the add on covers opted for along with the policy be treated, whether they would be applicable for 3 years too. For eg whether zero dep add on cover would be allowed for 2 wheelers for 3 continuous year if bought along with the comprehensive policy. IRDA circular attached for reference. http://www.business-standard.com/art...1100232_1.html Post this directive, New India Assurance has introduced the 2 wheeler Insurance policy valid for 3 years - the first in the Insurance business. The discount offered is 30% if one buys the 2 wheeler insurance with 3 year validity. Doesnt this sound something similar to 3 years accumulated NCB?? However New India says that any NCB accumulated during the period will be added to the renewal after 3 years which may go upto 50% discount. A similar kind of arrangement for the 4 wheelers are in the offing by New India. More details in the link. http://timesofindia.indiatimes.com/b...w/46952598.cms.