India is home to the most number of two-wheelers in the world, with over 48,000 bikes sold here each day. The government has made insurance mandatory for these vehicles, not only to protect riders, but also others who might be involved in accidents with these two wheelers. Tata AIG is a popular name in the Indian insurance industry, with it offering insurance products to cater to the two wheeler market as well. Tata AIG offers two wheeler insurance under its motor insurance category, utilising a vast network of over 150 branches located across the country.
|Policy period||1 year, 2 years, or three years, based on the type of policy purchased|
|Renewal frequency||Yearly renewable or renewable once in two/three years, based on the type of policy you purchase|
|No claim bonus (NCB)||No claim bonus is accorded if no claims are made during the policy period. This ranges from 20 to 50%, based on the NCB at the start of the policy.|
|No claim bonus after claim||In case a claim is made, the no claim bonus varies based on the NCB at the start of the policy. It reduces by 5 to 20%, based on the claim made.|
|Refund facility||Premiums are not refunded once paid.|
|If plan expires||Policy can be renewed. Renewal could involve a physical inspection of the vehicle by the insurer.|
|Network garages||Tata AIG has network garages across the country. One can utilise the search option on the website to find the closest network garage.|
A two-wheeler insurance policy is extremely useful given our road conditions. While there are a number of insurers offering this product, there are a few points which differentiate Tata AIG’s two-wheeler insurance policy from the other two-wheeler insurance policies available in the market.
Tata AIG currently offers three insurance plans for two-wheelers – the Auto Secure – Two-wheeler Package Policy, the Long Term Two Wheeler Package Policy, and the Liability Only Policy.
Individuals who purchase this policy are protected in the following circumstances.
Note: The cover depends on the policy chosen. Also, certain benefits are applicable only if the individual has opted for add-on covers.
An insurance policy does not provide complete coverage. Certain exceptions are put in place to protect against misuse of the provisions of the policy.
Government regulations make it mandatory to have a vehicle insurance policy in India. As such, these are a few aspects which Tata AIG looks at before issuing a bike insurance policy.
The eligibility to purchase a motor insurance policy could vary, based on whether it is a new insurance policy application or one to renew an existing policy.
Tata AIG provides customers the option to purchase or renew two-wheeler insurance policies through its official website. Individuals looking to buy a bike insurance policy online can also do so through other third-party insurance websites that have been given permission to sell insurance policies.
Alternately, one can use the official website of Tata AIG to enquire about the policy, after which company representatives will contact them to take the process ahead.
In case of an incident which results in damage to vehicle/occupant/third-party, it is advisable to inform the insurer immediately and begin the claim process. One can do this by following a few simple steps.
It should be noted that all information provided should be accurate. Submitting fake documents could result in the claim being rejected.
To purchase a two-wheeler insurance policy from Tata AIG, you will need to do as follows:
In the past, one had to visit an insurer to renew a lapsed two-wheeler insurance policy. Today, this can be done online, by following a few basic steps.
Insurers use the term ‘deductible’ when they offer vehicle insurance policies. This is nothing but a certain sum of money which the individual (person who has purchased the policy) is expected to pay in case of an incident requiring repairs to the two wheeler.
Opting for a higher deductible amount essentially results in lowered premiums. Riders confident in their ability to handle a vehicle could opt for a higher deductible to save on premium payments.
Riding a two-wheeler without a valid insurance policy is against the traffic laws of the country, with this act being punishable by a fine. In order to avoid this, it is imperative to ensure that the motor insurance policy is active at all times. In case it has expired, it should be immediately renewed.
Insurers now provide reminders to promote renewal before policy expiry. Renewing a lapsed policy could be a hassle, with certain cases requiring physical inspection of the vehicle before insurance is given.
One could renew the policy online, through the official website of Tata AIG or could use third-party sources to do the same.
Individuals who require any assistance regarding their Tata AIG motor vehicle insurance can reach out to company representatives on their toll-free number – 1800 266 7780. Senior citizens who have policies can use the toll-free number 1800 22 9966 to air their grievances.
Alternately, one can also email company officials on customersupport[at]tata-aig[dot]com or fax them on 022 66938170.
Yes, you can purchase a two-wheeler insurance policy from Tata AIG through the insurer’s official website. You may also be able to purchase the policy through trusted third-party insurance websites.2.Where can I find the claims form?
The claims form can be downloaded from the official website of Tata AIG Insurance.3.What is the Insured Declared Value?
The Insured Declared Value is the sum insured that is provided in case of constructive total loss or theft of the vehicle. It represents the value of the vehicle as per current market conditions.4.Will I have to pay an additional amount if I opt for add-ons?
Yes, add-ons can be purchased by paying an additional amount, over and above the basic premium sum.5.Do I have to report all incidents to the police?
It is important to avail the copy of an FIR in certain cases. This is required if there is damage to the property of a third-party, injury to a third party, theft of the vehicle, etc.6.What is covered under third-party liability insurance policies?
Third-party liability insurance policies provide coverage against:
The No Claim Bonus is offered by motor insurance companies to policyholders who don’t raise claims during the policy term in order to reward the concerned individual’s safe driving/riding. The No Claim Bonus can help a policyholder avail a reduced premium rate during the next year. Further, policyholders can also accrue the No Claim Bonus. Given how helpful it can be in reducing your premium payable for the following year, it is advisable to ride safe and not raise small claims.8.Can I renew my two-wheeler insurance policy on the insurer’s website?
Yes, Tata AIG General Insurance gives policyholders the option of renewing their two-wheeler insurance policies through the company’s official website by paying the due premium online.9.Do two-wheeler insurance policies cover theft of the vehicle?
Yes, comprehensive two-wheeler insurance policies do cover theft of the vehicle. If your vehicle is stolen, you will be eligible to receive the Insured Declared Value (IDV) of your two-wheeler, at the most, after completing the specified formalities.10.What are certain documents that I will need to submit to raise a claim?
The documents that you will need to submit when raising a claim are as follows:
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