India is the world’s largest market for two-wheelers, with over 20 million units sold in the country each year. Riding a two wheeler without a valid insurance policy is not permitted, with this liable to attract penal action. Bharti AXA offers two-wheeler insurance solutions to meet the legal requirements, ensuring that both, the vehicle and the rider are protected against any accident/incident.
Renewable two-wheeler insurance policy
|No claim bonus (NCB)||NCB upto 50% can be earned each year|
|No claim bonus after claim||NCB becomes 0% once a claim is made (yearly renewable policy). In case of the long-term plan, the NCB returns to the previous value.|
|Zero Depreciation cover||Add-on available wherein one needn’t pay any depreciation costs related to replaced/repaired components.|
|Refund facility||The insurer might refund a certain portion of the premium paid if the policy is cancelled. This is subject to certain terms and conditions.|
|If plan expires||Policy can be renewed online/offline. In case of lapse, the third-party cover is not provided, with the NCB impacted negatively.|
|Network garages||Over 3,500 network garages located across the country|
A two wheeler isn’t just a mode of transportation, it becomes a part of our life. Choosing the right insurance partner can be beneficial in the long run, with Bharti AXA providing a number of reasons to choose them.
Bharti AXA offers plans which cater to different needs, with these segregated based on the policy term and extent of cover provided.
A two-wheeler insurance provides protection under various circumstances, based on the plan option chosen.
Note:The extent of cover varies based on the plan chosen by an individual.
An insurance policy does not cover all incidents, with Bharti AXA having certain exclusions designed to prevent any misuse of the policy.
Bharti AXA has a few criteria in place when it comes to providing motor insurance policies, ensuring that there are no complications in the future. The insurer could ask for these basic documents in order to process an application.
An insurer could ask for other documents, based on whether the insurance application is for a new policy or whether it is to renew an existing/lapsed policy.
Gone are the days when one was expected to visit the office of an insurer in order to purchase a policy. It is now possible to buy a motor vehicle insurance policy online, by following a few basic steps.
Renewing a bike insurance policy was a hassle in the past, with one expected to visit the insurer to complete the formalities. Today, however, one can renew the policy online, in a matter of minutes.
Additionally, one can also connect with Bharti AXA executives on 1800 103 2292 to renew a policy.
The purpose of an insurance policy is to provide assistance in the event of any incident. Bharti AXA has a simple process when it comes to registering a claim, which can be done by following these steps.
A deductible is something which can often be found in insurance policies. This is the amount the policyholder is agreeing to pay in case of an accident/damage to the bike. The insurer pays the rest of the amount.
It can be understood with a simple example. Mr. Ram chooses to buy a 2 wheeler insurance policy from Bharti AXA, opting for a 10% deductible. In case of any accident, he will pay 10% of the amount, with Bharti AXA paying the remaining sum.
Choosing a high deductible results in lowered premiums. One should opt for a higher deductible only if they are confident about their riding skills. A low deductible results in higher premiums, but the policyholder will not be required to pay a high amount in case of any accident.
Riding a vehicle with a lapsed insurance policy can attract fines. The added tension of no protection can also play on our minds, which is why it is imperative to renew a policy immediately. Bharti AXA sends reminders before the policy expires, ensuring that one can renew it on time. In case the policy expires even after reminders, one should immediately renew the policy. This can be done by contacting the insurer. In case of a grace period, one can get the policy renewed without hassles.
If this period has expired, renewing the policy gets harder, with physical inspection of the vehicle required. The premium amount might also increase in such instances. The no claim bonus accrued might also lapse, resulting in an additional financial burden on the individual.
Bharti AXA has a dedicated customer care service which caters to different situations which might arise.
Each function is allotted a dedicated number, with all aspects covered.
One can contact Bharti AXA on the following numbers:
Additionally, one can also contact officials online, by visiting the “Contact Us” section of the Bharti AXA general insurance website.
Bharti AXA provides reminders before the expiry of a policy, ensuring that one doesn’t forget. In case of missing the payment even after the reminder, one can choose to renew the policy by paying the premium.
In case of selling the vehicle, the insurance policy will be transferred to the buyer. The transfer can be done after the vehicle has been registered under the name of the buyer.
Yes, it is possible to insure accessories, subject to payment of an extra premium for the same.
Bharti AXA aims to settle all claims within 7 working days of receiving the relevant documents. This period can increase in cases where documents are missing/there are discrepancies in details.
No, it is not possible to pay the premium amount in installments. This is on account of the rules mentioned under the Insurance Act of 1938.
If you renew your lapsed two-wheeler insurance policy within 90 days from actual renewal date of the policy, you will be eligible to receive the No Claim Bonus. On the other hand, if you don’t renew your two-wheeler insurance cover within 90 days, you will lose the No Claim Bonus. For this reason, it is advisable to set up an automatic reminder facility to remind you of the renewal date well in advance.
Yes, opting for add-ons/riders will cause your premium payable to increase since you will be receiving enhanced coverage. Thus, it is advisable to assess your coverage needs and only opt for the riders that you really require.
The No Claim Bonus is offered by motor insurance companies to policyholders who don’t file any claims during the policy tenure. If you receive the No Claim Bonus, you can avail a lower premium rate for the next policy year. It is, however, important to remember that the No Claim Bonus is only offered on the own damage component of the insurance policy. Thus, if you have a third-party liability-only insurance policy, you will not receive the No Claim Bonus.
Third-party liability insurance policies only provide coverage against third-party legal liability and accidental death/disability of the rider/policyholder. Thus, these policies do not offer an own damage cover. If you wish to receive higher coverage, it is advisable to purchase a comprehensive two-wheeler insurance policy.
The Insured Declared Value of the two-wheeler is the maximum sum of money that you will be eligible to receive in case your vehicle gets stolen or in event of a total loss. The IDV is calculated by determining the selling price of your two-wheeler and adjusting this amount for depreciation.
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Bharti AXA has decided to sell its two-wheeler insurance plans through the popular social media platform, Whatsapp. The general insurance company has partnered with an online insurance aggregator called Wishfin which promises quick issuance of insurance policies. The aggregator’s insurance arm, Wishpolicy, will take care of the insurance policy sales. The two-wheeler insurance plans that can be purchased through Whatsapp are also delivered by Wishpolicy. The firm has many different purchase modes and the Whatsapp mode is an added facility. This service, in particular, is instant and convenient for prospective policyholders.
With the launch of this new facility, Bharti AXA will become the first non-life insurance company to offer insurance policies through Whatsapp. The MD and CEO of Bharti AXA says that the instant messaging application will make it easy for customers to access the services of the general insurer. The Chairman and MD of Wishfin said that the partnership with Bharti AXA will give its new model - to sell policies through Whatsapp - a push and help set up a financial ecosystem on Whatsapp.
13 May 2019
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