HDFC ERGO Bike Insurance
- No Inspection Needed
- Immediate Policy Issurance
Top HDFC ERGO Bike Insurance Plans
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About HDFC ERGO Bike Insurance
HDFC ERGO General Insurance Co. Ltd., a joint venture between HDFC Ltd. and ERGO International AG, offers three types of bike insurance. This includes Third Party, Standalone Own-Damage, and Comprehensive Bike Insurance Plans. A potential buyer can also purchase an add-on cover to supplement the base coverage of the insurance plan. Moreover, HDFC ERGO offers a seamless claim procedure, affordable premium rates, and 24x7 customer support.
Key Features of HDFC Ergo Bike Insurance
Claim settlement ratio
Personal accident cover
Up to Rs. 15 lakhs
Emergency roadside assistance
Why Should You Buy Bike Insurance with HDFC Ergo?
Some of the advantages of buying bike insurance with HDFC Ergo are as follows:
- HDFC Ergo has bike insurance plans with a starting premium of Rs. 538. With HDFC Ergo, you can thus buy bike insurance plans at affordable premiums.
- There are over 2000 cashless garages that have a tie-up with HDFC Ergo. With an extensive number of cashless or network garages available, it becomes easier to locate a nearby network garage.
- HDFC Ergo has a claim settlement ratio of 100%. This indicates the company’s efficiency in getting bike insurance claims settled. Moreover, HDFC Ergo also has AI-based tools that make the entire process of claim settlement easier.
- HDFC Ergo also provides the option of emergency roadside assistance. This add-on cover offers roadside assistance if you are stranded on the road.
- With HDFC Ergo, you can buy bike insurance in a matter of a few minutes. It just takes 5 minutes to buy a bike insurance policy with HDFC Ergo.
HDFC Ergo Bike Insurance Premium Calculator
Following is a step-by-step guide to use HDFC Ergo Bike Insurance Premium Calculator:
- Visit the official website of InsuranceDekho.
- Click on the “bike insurance companies” available under the bike insurance tab.
- Click on HDFC Ergo Bike Insurance.
- Enter your bike's details, like its registration number, email ID, mobile number, and more.
- Select the type of two-wheeler insurance you need to purchase.
- Once you fill out all the necessary details, the premium for your policy will be calculated.
Types of Bike Insurance Offered by HDFC Ergo
There are typically three different types of bike insurance plans that you can buy with HDFC Ergo such as the following:
- Third-party Bike Insurance: According to the Motor Vehicles Act of 1988, Third-party Bike Insurance is a mandatory requirement. Under third-party bike insurance, if there is any damage to a third-party due to the insured bike, then the relevant coverage is offered.
- Standalone Own Damage Bike Insurance: Standalone Own Damage Bike Insurance provides coverage in case there is any damage to the bike.
- Comprehensive Bike Insurance: Comprehensive Bike Insurance provides coverage for both third-party liabilities and damage to the bike. However, the premium of Comprehensive Bike Insurance is comparatively higher than third-party and standalone own-damage bike insurance.
List of Add-ons Available with HDFC Ergo Bike Insurance
Following are the add-ons that you can purchase with your HDFC Ergo Bike Insurance Plan:
- Zero depreciation cover
- Emergency assistance cover
- Accessories cover
Factors that Affect Bike Insurance Premium
There are a number of factors that affect bike insurance premiums, such as the following:
- Bike Insurance Type: Depending on the type of bike insurance plan you are buying, the bike insurance premium rates vary. For instance, the premium of comprehensive bike insurance is higher as compared to other types.
- Driving Record: The driving record also affects the bike insurance premium. If an individual has been found to have raised a large number of bike insurance claims, then the premium rates will be higher.
- Add-on Covers: There are a number of add-ons that you can include in your bike insurance plan to further enhance its benefits. The more add-ons you include, the higher the bike insurance premium.
- Bike Modifications: To enhance the appeal and features of a bike, many bike owners add accessories to their bikes. The more accessories you include, the higher your bike insurance premium will be.
- Market Value of Bike: The market value of the insured bike directly affects the bike insurance premium.
Tips to Buy the Best Bike Insurance Plans
When purchasing bike insurance, it is best to compare different plans and buy the best one. Here are a few tips that you can consider to buy the best two-wheeler insurance plan:
- Always check the claim settlement ratio of an insurance company. Select the insurer with a high claim settlement ratio to ensure a smooth and hassle-free settlement during emergency situations.
- Another factor to consider are add-ons offered by the insurer. Add-ons are additional benefits that you can purchase with your base two-wheeler insurance plan. Check out the types of add-ons that different bike insurance companies have to offer.
- It is wise to purchase a bike insurance plan online. This is because some insurers provide discounts on premiums for purchasing policies online.
- Buy a comprehensive bike insurance policy to get coverage for both your own damage and third-party losses under the same policy.
Inclusions & Exclusions of HDFC Ergo Bike Insurance
There are certain inclusions and exclusions of an HDFC Ergo Bike Insurance policy as listed below:
- Any damage or loss due to an accident
- Any damage due to a fire explosion or natural disaster
- If the insured bike is lost or stolen,
- Personal accident cover
- Third-party coverage
- Normal wear and tear
- If there is illegal driving and the driver is found riding under the influence of alcohol,
How to Buy or Renew Bike Insurance with InsuranceDekho?
Here is how you can renew and buy HDFC Ergo bike insurance with InsuranceDekho:
- Go to the official website of InsuranceDekho
- Click on the car insurance tab
- If you are buying a new policy, enter details like vehicle registration number, and to renew bike insurance, you need to enter policy expiry date, policy details, etc
- You can include add-ons when you are buying or renewing the policy, depending on which the bike insurance premium will vary
- Finally, pay the premium to renew or buy the bike insurance policy
- Once the payment is approved, you will receive all details on your registered email id.
Benefits of Buying Bike Insurance Online
There are several benefits of buying bike insurance online such as the following:
- On buying bike insurance online, you will be able to get quote details instantly. You just need to enter a few details, after which you will be able to view the details of different quotes.
- When you buy bike insurance online, you will also be able to save time as well as your efforts. It hardly takes a few minutes when you buy bike insurance online.
- The process of buying bike insurance online is quite transparent. You need to follow a few steps to complete the buying process.
- There is minimal paperwork involved when you buy bike insurance online. With little documentation, you will be able to buy bike insurance online.
Steps to Make HDFC Ergo Bike Insurance Claim
To make an HDFC Ergo bike insurance claim, here is all that you need to do:
- First, get in touch with the HDFC Ergo team and inform them about the mishap. You can do so by calling or emailing them.
- Once you have informed the company, you can either opt for self-inspection or a surveyor will be assigned to do the inspection.
- After the inspection process is completed, you can get your bike repaired at a network garage or other garages.
- Then, submit the documents related to the claim settlement. In case of a reimbursement claim, the total amount will be reimbursed and if you have raised a cashless claim, your bills will be directly settled at the network garage.
Documents Required to File HDFC Ergo Bike Insurance Claim
Listed below are the documents required to file HDFC Ergo Bike Insurance:
- A copy of the bike insurance
- Copy of valid driving license
- Repair bills
- Copy of registration certificate
- Duly-signed claim form
Why Should You Purchase Bike Insurance?
Bike insurance or two-wheeler insurance is an agreement between the insurance company and policyholder whereby the former agrees to provide compensation if the insured vehicle is damaged, lost, or stolen. Some of the benefits of having a bike insurance plan are as follows:
- According to the Motor Vehicles Act of 1988, third-party bike insurance is a mandatory requirement for all bike owners. It is a punishable offence to ride on Indian roads without a valid third-party bike insurance policy.
- With bike insurance, you get much-needed financial compensation in case your bike is damaged due to any unforeseen circumstances.
- A bike insurance plan also provides coverage for third-party liabilities. To get third-party liability coverage, you must buy either third-party bike insurance or a comprehensive bike insurance plan.
- Bike insurance provides coverage if your bike gets stolen or lost.
Important Terms To Know in Bike Insurance
There are different terms that you should be aware of while buying bike insurance such as those listed below:
- NCB: NCB or No Claim Bonus refers to the benefit given to the policyholder if they do not raise any claim in a given year. So, avoid making unnecessary claims to enjoy maximum No Claim Bonus benefits.
- Zero Depreciation: The value of any vehicle depreciates over a given period of time. However, there is an add-on which is called the Zero Depreciation cover that helps you to get the claim amount without considering the depreciation value.
- IDV: IDV or Insured Declare Value refers to the amount payable if the insured bike is lost or stolen. There are a number of factors that affect IDV such as the age of the bike, its model, fuel type, and others.
Benefits of HDFC ERGO Bike Insurance
- An extensive network of 6,800+ garages
- 24x7 emergency assistance is available
- Offers the facility of renewal without inspection
- Insurer provides paperless insurance procedures
- Allows the policyholders to make unlimited claims
Explore Hdfc Ergo Bike Insurance
Must Read Articles before buying Hdfc Ergo Bike Insurance
- While just following your needs will assist you in determining which strategy to pursue
- It might be tough to remember to renew a long-term two-wheeler auto insurance coverage year after year.
- every two-wheeler vehicle owner must have third-party bike insurance coverage when operating a bike or scooter in India
- The purchase of bike insurance is the responsibility of all bike owners.
- It is vital to bring a few items for individuals who vroom a lot on their bikes in order to enjoy a safe and hassle-free journey.
Hdfc Ergo Bike Insurance User Reviews
- Most Helpful
- Zero Depreciation
- Third Party
- Own Damage
- Cashless Garages
- Policy Download
- Customer Care
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HDFC ERGO Bike Insurance FAQs
Why should I pick HDFC ERGO Bike Insurance ?In the insurance market, HDFC ERGO is a trusted brand. It has been striving for many years to provide its customers with the best insurance service possible. For FY 2019-20, it has a claim settlement ratio of 91.23 %, showing that it has a long list of satisfied consumers.
Why do I need insurance for my bike when it is not even a luxury model?Everyone, regardless of whether he lives a simple or luxury life, requires a sense of safety and security.Bike insurance will protect you financially in the case of an emergency.There might be a situation where a simple accident will burden you with unlimited liabilities.
Does HDFC ERGO provide benefits of Zero Depreciation ?Customers can choose to have their HDFC ERGO Comprehensive Bike Insurance policy include a Zero Depreciation benefit. Customers can take advantage of the benefits by buying Zero Depreciation Add-on Cover.
What bike insurance plans does HDFC Bike Insurance offer?1 year Comprehensive Plan, Long-Term Comprehensive Insurance, Standalone Motor Own-Damage Cover, and Two-Wheeler Liability Only Insurance are the four types of bike insurance plans offered by the company.
In India, how many branches does the company have?HDFC ERGO's vision is to provide bike insurance to individuals from all the arenas. It has over 120 branches in 106+ cities across India, including Maharashtra, Jammu & Kashmir, Gujrat, Haryana, Punjab, West Bengal, and others.
Why to buy from InsuranceDekho?
- Instant policy# within 5 mins
- More than 50 lakhs happy customers
- Claim Support available all 7 days of the week
HDFC ERGO Policy Wording Document Download
- 1.0 MB
- PDF Document
- November 2, 2020
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