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Why HDFC ERGO Is The Best Choice for Buying Two-Wheeler Insurance?

Written by Sumit Arora
Updated On Oct 29, 20212 min read

Buying insurance for your two-wheeler is important if you want to ride on roads legally. Read this article to know why HDFC ERGO is the best choice for your two-wheeler.

A legitimate two-wheeler or bike insurance policy protects you from damage caused by accidents, natural disasters, theft, and burglary. It serves as a financial safety net for your cherished bike or scooter in the event of unforeseen situations. All two-wheelers on the road must be protected by basic third-party insurance coverage, according to the Motor Vehicle Act of 1988. In other words, if you possess a two-wheeler, you must insure it.

Why HDFC ERGO Is The Best Choice for Buying Two-Wheeler Insurance?

Why HDFC ERGO Is The Best Choice For Buying Two-Wheeler Insurance?

HDFC Ergo provides the following two-wheeler insurance plans: 

  • Multi-Year Comprehensive Bike Insurance Plan

Comprehensive coverage that protects you against harm to your own two-wheeler as well as damage to a third-party person or property. If that isn't enough, it may be modified with your choice of add-on covers, providing you with coverage that meets your needs at a reasonable price. You may also pick between one, two, or three years of coverage.

  • Third-Party Cover

Only claims stemming from damage, injury, or loss to a third-party person or property are covered under this policy. This is a necessary coverage under the Motor Vehicles Act 1988, and driving without it might result in a fine of Rs.2000 or more.

  • Own Damage Cover

This coverage protects you from financial damages caused by damage to your own motorcycle or scooter.

Why Should You Choose HDFC ERGO?

It provides the following features and benefits:

  • Get a great bargain on your hot wheels, with discounts of up to 70%.
  • Say goodbye to bike repair problems and enjoy convenience right at your doorstep with our doorstep repair service.
  • IDEAS, our AI-enabled solution, allows for a more efficient and hassle-free vehicle claim process.
  • If you are on your way to a meeting and there's an emergency, HDFC Ergo can assist you.

Two-wheeler Insurance Inclusions

  • Fire and explosions
  • Theft
  • Calamities
  • Personal accidents
  • Third-party liability

Two-wheeler Insurance Exclusions

  • Depreciation
  • Electrical and mechanical breakdown
  • Illegal driving

Factors Affecting Two-wheeler Insurance Policy

1. Type of insurance policy: For two-wheelers, every insurance provider offers two types of policies. Third-party insurance is required by Indian law, and it solely covers third-party harm. The complete cover policy offers all-around protection, including theft, natural and man-made disasters, and accidents, as well as third-party damage.

2. Type and condition of a two-wheeler: Because various two-wheelers have varied features, the cost of insuring them varies as well. The cubic capacity of a motorcycle engine is the determining factor in the insurance rate. The bigger the cubic capacity, the higher the insurance price will be.

3. Two-wheeler’s market value: The insurance premium is also influenced by the bike's current price or market worth. The bike's market worth is determined by its brand and functionality. When the car is older, the premium is determined by the vehicle's condition as well as its market value.

4. Add-on covers: Add-on covers can assist increase coverage, but the more add-ons you have, the higher your premium will be. As a result, just select the covers that you believe are essential.

Take Away

Two-wheeler insurance from HDFC ERGO may be purchased online in a matter of minutes. You can find the bike insurance coverage that best meets your needs from our many options. You can also purchase add-on covers for more coverage.

Also Read:

5 Bikes/Scooters expected to launch in 2021 in India

Is Two-Wheeler Insurance Compulsory For Electric Scooters? 

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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Written by Sumit Arora
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 Sumit is an insurance industry veteran with more than 20 years in the industry. Sumit is a frequent columnist and speaker at major insurer conventions and is a heard name in insurance circles In his free time, Sumit likes to spend time with his family and go on trips

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