With the massive increase in the number of two-wheelers, the number of road accidents has increased significantly all over the country. When it comes to road accidents, liability is a major issue. Even if liability is established for an accident, the affordability to pay for accidents is another major issue. Considering this in mind, the Government of India has made it mandatory for all motor vehicles to have third-party liability insurance. While a third-party liability insurance policy saves you from liability, a comprehensive two wheeler insurance policy provides additional coverage against the damages suffered by your own vehicle. Like most general insurers in the market, HDFC ERGO offers both third-party liability insurance policies and comprehensive policies for its customers.
|Insurance Plan||Third-party liability Cover||Comprehensive Cover|
|Policy Period||2 years and 3 years||Multi-year up to 3 years|
|Renewal frequency||End of policy term||End of policy term|
|Available Add ons||
|No Claim Benefit||Provided for every claim-free year||Provided for every claim-free year|
|No Claim Benefit after Claim||NCB becomes nil||NCB becomes nil|
|Zero Depreciation Cover||Available||Available|
|Refund Facility||Policy can be cancelled by giving 7 days notice provided no claim has risen during the policy term. The company will refund the premium minus short period rates|
|Policy Expiration||If the life insured dies, the policy will continue to be in force for 3 months or until the expiry date, whichever is earlier. The legal heir can transfer the policy to their name|
|Network Garage||Over 4,800 network garages across the country|
When you opt for a bike insurance policy from HDFC Ergo, you stand to benefit from a number of value-added features.
From the time your vehicle reaches the garage, the estimated time taken for claim approval is 24 hours.
Online Purchase and Renewal
Buy a two-wheeler insurance plan in a few easy steps through the HDFC Ergo official website. You can also renew your policy online avoiding the hassles of visiting a branch or meeting an agent.
HDFC Ergo has a dedicated toll-free helpline for customers to address their queries and make claim intimations.
Easy Settlement Process
HDFC Ergo has put into place a transparent and fair claim settlement process. HDFC Ergo has an in-house Third Party Administrator to help make the claims settlement process much faster and as smooth as possible.
Customers can intimate a claim to HDFC ERGO 24x7 through the toll-free helpline number 1800 2700 700 or through the HDFC mobile app.
There are two plans on offer from HDFC Ergo that cater to customers who need a bike insurance plan.
This type of insurance is known as a liability-only policy which is the minimum requirement as per the Motor Vehicle Act, 1988. This policy covers legal liabilities incurred due to damage, death or injury caused to a third party. You have the option to buy multi-year policies of up to 3 years which will protect you against annual increase in premiums. This policy can be issued instantly without any hassle of paperwork.
With this plan, you can be protected for up to 3 years with the payment of a single premium. Avoid the hassles of annual renewal and increasing third-party premium hikes by the insurance regulator. For policy terms of 2 years and 3 years, you can enjoy the benefit of No Claim Bonus (NCB) in the event that you do not make a claim. This policy will cover you against the losses arising out of theft, accidents, natural calamities, manmade disasters and other dangers. For 1-year terms, you also have the option to purchase add-on protection of emergency roadside assistance and zero depreciation.
Depending on your choice of third-party liability cover or comprehensive cover, you will benefit from different coverage.
For any accidental damages caused to a third party, the insurance pays for any legal liabilities as per the provisions of the plan. The insurer will cover any expenses related to accidental death, permanent injury or damage to property of a third party.
The two-wheeler insurance policy will also cover certain manmade disasters. These include theft, burglary, accident by external means, terrorist activity, riot, strike, any malicious act, any damage in transit by air, rail, road, rail, inland waterway, lift, or elevator.
If your vehicle is damaged or lost completely due to natural events, the insurance plan will pay out a benefit to cover expenses or losses. The natural calamities covered include fire, explosion, self-ignition or lightning, typhoon, earthquake, storm, flood, hurricane, tempest, cyclone, frost, inundation, hailstorm, landslide and rockslide.
The cover offered with this plan is Rs.1 lakh. The owner or driver will get an individual accident insurance cover for any injuries sustained while driving, travelling, mounting or dismounting the bike. Policyholders can also take additional cover for pillion riders and unnamed riders.
There are certain exclusions applicable to the two wheeler insurance policies issued by HDFC ERGO. Under these particular circumstances, the insurer will not be liable to pay any benefits to the policyholder.
To avail a two-wheeler insurance policy, a few requirements need to be fulfilled by the vehicle owner. There are certain aspects that any insurance company will check before handing out an insurance policy. The eligibility criteria differs between companies, and also between purchase and renewal.
You can buy a two wheeler insurance policy from HDFC Ergo easily online.
If you need to make a claim on your bike insurance policy, you can follow the steps below:
If you are riding with an expired insurance policy, it is punishable by law and you will be liable to pay a fine. As per the prevailing motor laws, you must have an active insurance policy in order to ride your bike on Indian roads. In addition to this, it is generally unsafe to ride without a valid insurance policy. You could end up being liable to pay high costs in damages to your own vehicle and to third parties involved, including any damages to surrounding property, in the event that you are involved in an accident.
To be safeguarded against these expenses, it is advisable to renew your policy on time and always have a valid insurance plan for your 2 wheeler. You can renew your policy online in a few simple steps.
When you renew your policy on time, it is hassle-free and much simpler. Once the policy expires, renewal might require additional inspections and other information before the insurer is satisfied to give you a policy.
Deductibles refers to the amount you are willing to pay in the event you incur costs in an accident involving your two-wheeler. The insurance provider is liable to pay for the remaining amount. For example, if you opt for a 15% deductible, then you will be liable to pay for 15% of the damages caused to your vehicle or a third party. The insurer will only pay 85% of the cost, to the extent of the sum assured.
In case of HDFC Ergo, deductibles are applicable to own-damage claims. The amount is set at Rs.100 per claim made.
If you have missed the renewal date and your policy has lapsed, there are a few things you can do to remedy the situation.
If you wish to renew a lapsed policy, you will need to contact HDFC Ergo customer care and find out what options are available.
HDFC Ergo provides a customer care service round the clock to address any grievances, claim settlements, queries and complaints that customers might have.
6th floor, Leela Business Park, Andheri Kurla Road,
Andheri (East), Mumbai - 400 059
Yes, you can do this via the following methods:
Premiums depend on a number of factors such as age of the vehicle, type and model of the bike, cubic capacity, usage and previous claims made among other things.
The Insured Declared Value or IDV refers to the market value of your vehicle. The insurer will take into consideration the prevailing market value and then decide on the sum insured for your vehicle. The reason IDV is important is if you choose a sum higher than the market value, you might end up paying higher premiums for no reason. If you choose a lower IDV, then your premiums come down but so will your insured amount.
HDFC Ergo provides a list of network garages on its official website. You can also contact the customer care for assistance to find out if the garage is within the HDFC Ergo cashless network.
You can insure any four-wheeler or two-wheeler intended for private use.
Yes, with online purchase or renewal, you will receive regular reminders to renew your policy when the due date is approaching.
When you raise a claim, your insurance provider will provide you a settlement after taking the depreciation of your vehicle into account. However, if you have a zero depreciation cover, your insurance policy will cover the entire loss incurred by you, without factoring-in depreciation. You can purchase the zero depreciation cover from your motor insurance provider by paying an additional premium.
Cashless garages are garages that have tied-up with an insurance provider to provide cashless services to policyholders. If you have a two-wheeler insurance policy and you get your two-wheeler repaired in a cashless garage, your insurer will settle the expenses with the garage directly, subject to their terms and conditions.
If you have installed security devices that are prescribed by the Automotive Research Authority of India (ARAI), you will be eligible to receive a discount. Further, if you are a member of a recognised automobile association, you will receive a certain discount. Insurance companies also offer a No Claim Bonus to vehicle owners who don’t raise any claims during the policy year. Thus, if you don’t make any claims during the policy term, you will be eligible to get a discount on your premium the following year.
Yes, it is mandatory to have at least a third-party liability-only two-wheeler insurance policy at all times, as per the provisions of the Motor Vehicles Act, 1988.
If you are purchasing a two-wheeler insurance policy online, you can pay the due premium amount digitally through any one of the online premium payment channels offered by your insurance provider.