HDFC ERGO Bike Insurance

HDFC ERGO General Insurance Company Limited, backed by HDFC and ERGO International AG, offers a variety of insurance products. This includes motor, health, travel, home, and personal accident covers for individuals. Additionally, it offers property, marine, and liability insurance for businesses. Following its merger with HDFC Bank Limited, it operates as a subsidiary of the bank, providing customer service and innovative products. It has an extensive network of over 200 branches across 170+ cities, supported by a team of over 9700 employees.

About HDFC ERGO Bike Insurance

Two-wheeler insurance is designed to safeguard bikes, offering protection and coverage. It helps cover repair expenses, damage in case of accidents and provides financial security against theft, natural disasters, vandalism, and third-party liabilities. Bike insurance is crucial for protecting you during unexpected events. Additionally, if you unintentionally damage someone else's vehicle, your bike insurance provides financial assistance. HDFC ERGO Bike Insurance stands out as a preferred choice in India, providing comprehensive coverage options. These include stand-alone, third-party, and comprehensive bike insurance plans.

Key Features

Each company highlights a unique selling proposition (USP), and for HDFC ERGO Bike Insurance, its key features include:

• Choice of Unique Add-ons - You can tailor your bike insurance policy by choosing from a range of add-ons such as zero depreciation, emergency roadside assistance, and more to suit your specific needs and preferences.

• Emergency Roadside Assistance - Emergency roadside assistance ensures that you can have your bike repaired promptly and conveniently, no matter where or when the need arises.

Key Metrics

Refer to the tables below to check the key metrics of HDFC ERGO bike Insurance:

Types of Bike Insurance Plans Offered by HDFC ERGO

Mentioned below are the list of bike insurance plans offered by HDFC ERGO [1]:

1. Standalone Own Damage (OD) - Standalone own damage bike insurance covers accidents, providing financial protection for your bike, excluding third-party damages. It reimburses repair or replacement costs for your bike's damaged parts, suitable for those with existing third-party cover, including coverage for accidents, theft, fire, natural calamities, with optional add-ons available.
2. Third-party Liability (3PL) - Third-party bike insurance safeguards you against liabilities from accidents involving your two-wheeler, covering property damage, bodily injuries, and death to third parties. Compensation for third-party property damage is capped at ₹1 lakh. However, the court determines compensation for bodily injury/death cases. Ideal for occasional bike users, this plan includes personal accident cover, protection for third-party property damage, and coverage for injuries to third parties.
3. Comprehensive - A comprehensive bike insurance policy provides extensive protection against theft, fire, natural disasters, and more. It offers cashless repairs at network garages nationwide. Ideal for bike enthusiasts, this plan covers accidents, theft, fire, personal accidents, natural calamities, and third-party liability, and offers optional add-ons for tailored protection.
4. Cover for a brand new bike - Under the two-wheeler insurance policy, coverage for a new bike includes one year of protection against damage to your own bike. Additionally, it offers five years of coverage for damages to third-party persons or property. This plan includes coverage for bike accidents, theft, fire, personal accidents, natural calamities, and third-party liability. Furthermore, it offers various optional add-ons for customised protection.

Add-Ons Offered by HDFC ERGO

Add-ons compliment your insurance plans and help provide added benefits with a minor increase in your premium price. The top add-ons offered by HDFC ERGO Bike Insurance are mentioned below:

• EV Smart Add-Ons: Protect your electric vehicle with specialised add-ons designed to protect crucial components and accessories. These coverages shield against damage from unforeseen events like floods or fires. It ensures your EV's batteries and electric motor remain secure. Additionally, it comes with options like the battery charger accessories add-on and electric motor cover.

InsuranceDekho Recommended Best Combination of Bike Insurance Plan Type and Add-ons to Buy

Eligibility To Buy a Bike Insurance Plan

Before purchasing a bike insurance plan, make sure you have the following essentials:

• Verify that your vehicle is registered with the Regional Transport Office (RTO).
• Keep your bike registration papers readily available.
• Possess a valid driving licence.
• Be prepared for any additional documentation required based on the insurer's specific requirements.

Factors to Consider Before Buying or Renewing Your Bike Insurance

Key Considerations When Purchasing Two-wheeler Insurance:

• Policy Options: Select between third-party and comprehensive policies to align with your specific requirements. A comprehensive policy offers broader coverage, encompassing both third-party damages and damages to your own bike.
• Bike Valuation: The Insured Declared Value (IDV) determines the premium for comprehensive insurance, reflecting your bike's current market value. Higher-end bikes command higher IDVs, resulting in increased premiums.
• Coverage Details: Familiarise yourself with your policy's coverage, which typically includes protection against theft, fire, natural disasters, accidents, and third-party liabilities.
• Exclusions: Take note of policy exclusions, such as mechanical breakdowns, wear and tear, and geographical limitations. Understanding these exclusions helps prevent claim rejections.

How To Purchase HDFC ERGO Bike Insurance Policy?

Buying bike insurance is a straightforward process. Here are the general steps to follow:

• Research: Explore insurance providers and policies to find the best match for your requirements.
• Gather Information: Collect essential documents such as bike registration papers, driving licence, and vehicle details.
• Request Quotes: Use online insurance comparison platforms to obtain quotes from various policies.
• Select Coverage: Decide on the type of coverage you need, whether it's third-party or comprehensive insurance.
• Customise Policy: Enhance your coverage by adding any desired add-ons or riders.
• Complete Application: Fill out the insurance application form accurately with details about yourself and your bike.
• Make Payment: Pay the premium for your chosen policy online using methods like credit/debit cards, net banking, or mobile wallets.
• Review Policy: Thoroughly review the policy documents, terms, conditions, and coverage details.
• Receive Confirmation: Upon purchase completion, receive a confirmation of your policy via email or mail.
• Renewal: Ensure timely renewal of your bike insurance before expiry to maintain continuous coverage.

Here's a simple guide to purchasing bike insurance with HDFC ERGO:

• Step 1: Head to the bike insurance section of the InsuranceDekho website.
• Step 2: Enter necessary information, including your mobile number, name, bike registration number, and other required details.
• Step 3: Select from the displayed plans on the quotes page.
• Step 4: Tailor your chosen plan by including any essential add-ons.
• Step 5: Finalise the purchase by completing the premium payment for your HDFC ERGO bike insurance.
• Step 6: Upon payment confirmation, you'll receive policy details via email to your registered email ID.

Benefits of Buying Your Bike Insurance from InsuranceDekho

At InsuranceDekho, our unwavering commitment to customer satisfaction sets us apart, and here's why we excel in delivering top-notch insurance solutions and support:

• Certified Expertise: With certification from IRDAI and over 8 years of industry experience, we bring expertise you can trust.
• Trusted Reputation: As a part of the CarDekho Group, renowned in motor and auto tech for over 15 years, we are a name you can rely on.
• Comprehensive Range: From motor and health to life & term, travel, investment, and shop insurance, we offer a diverse array of insurance options to meet your needs.
• Extensive Coverage: With over 50 lakh vehicles insured, our round-the-clock team is always available to address your insurance inquiries promptly.
• Swift Resolution: We prioritise quick resolution of your concerns with insurers, ensuring you receive timely assistance whenever you need it.
• Dedicated Claim Assistance: Our dedicated claim support team stands by to assist you through every step of the claim settlement process, providing personalised guidance from start to finish.

What Is Covered and What is Not Covered?

Every insurance plan comes with certain things it covers (inclusions) and things it doesn't cover (exclusions). Here are the main inclusions and exclusions you'll find under HDFC ERGO bike Insurance:

Inclusions:

• Accidents: Stay calm if you've had an accident; we've got your back, covering damages your bike faces.
• Fire & Explosion: Don't let fire or explosions burn a hole in your pocket; we've got your bike covered.
• Theft: Worried about your bike being stolen? Rest easy; we've got you covered.
• Calamities: When disasters strike, your bike may suffer, but your finances are protected.
• Personal Accident: Your safety comes first; we cover your treatment costs if you're injured in a two-wheeler accident.
• Third-Party Liability: If you damage someone else's property or cause injury, we've got the expenses covered.

Exclusions:

• Accidents: Stay calm if you've had an accident; we've got your back, covering damages that your bike faces.
• Fire & Explosion: Don't let fire or explosions burn a hole in your pocket; we've got your bike covered.
• Theft: Worried about your bike being stolen? Rest easy; we've got you covered.
• Calamities: When disasters strike, your bike may suffer, but your finances are protected.
• Personal Accident: Your safety comes first; we cover your treatment costs if you're injured in a two-wheeler accident.
• Third-Party Liability: If you damage someone else's property or cause injury, we've got the expenses covered.

How to Claim Your Bike Insurance?

Dealing with a claim can be taxing, but at InsuranceDekho, we're dedicated to making it simpler for you. Contact us for assistance with your claim process. Reach out via phone at +91-7551196989 or email us at support@insurancedekho.com.

Our advisors will assist you through every stage, ensuring you have all required documents ready for claim submission. With over 50 lakh vehicles insured, insurers prioritise our inquiries, giving special attention to our cases.

What is the Insured Declared Value and How is It Calculated?

Insured Declared Value (IDV)

IDV, or Insured Declared Value, in bike insurance, represents the maximum coverage amount for your motorcycle. It is payable in case of theft or total loss. While it's calculated using a formula set by the IRDAI, policyholders can adjust it by up to 15%. Opting for a higher IDV could result in larger compensation. However, increasing it may lead to higher premiums without significant benefits.

Calculating Insured Declared Value (IDV)?

To calculate your bike’s IDV, deduct the depreciation on its parts from the current market value, excluding registration costs, road tax, and insurance expenses. Additionally, any later-added accessories are assessed separately for IDV calculation. Use an IDV calculator to gauge your bike's market value and estimate insurance premiums accurately. Access the IDV calculator below for a precise insurance premium quote for your vehicle:

Factors Affecting the Premium of Your Bike Insurance

Many factors affect the premium you pay for bike insurance. Here are some key considerations:

• Type of Two-wheeler: The insurance costs for various types of bikes vary depending on factors such as engine size.
• Value of The Vehicle: The market worth of your bike, influenced by factors like brand and features, impacts insurance premiums.
• Modification: The extent of modifications directly affects insurance premiums.
• Anti-theft Devices: Insurers often consider safety measures when processing theft-related claims.
• Riding Skills: Practising safe riding habits decreases the risk of accidents, reducing claim frequency and possibly leading to lower insurance premiums.
• Add-ons: Additional coverages, or add-ons, can enhance your insurance policy, but selecting them wisely based on individual needs is crucial to avoid increased costs.
• IDV: Insured Declared Value (IDV) is the maximum sum assured by an insurance provider for a customer's bike, determined by its market worth at policy inception. It is essential in cases of irreparable damage or theft, typically decreasing with each renewal due to depreciation.

HDFC ERGO Bike Insurance Renewal Process

Renewing your bike insurance annually is crucial to maintain uninterrupted coverage. Take the opportunity to review the latest plans and updates customised for your vehicle model and age. To renew your policy through InsuranceDekho, just follow the same steps as outlined for purchasing a new bike insurance policy.

Bike Insurance Customer Service & Support

As part of the trusted CarDekho family, InsuranceDekho is committed to addressing all your bike insurance requirements. Get in touch with our dedicated customer service and support team by dialling our helpline number +91-7551196989 or sending us an email at support@insurancedekho.com. We're here to provide assistance whenever you need it!

HDFC ERGO Complaints & Grievance Redressal

For any complaint & grievance redressal, you can contact HDFC ERGO bike Insurance team in the following ways:

• Call them at 1800 266 6400
• Write them here: Customer Support, Office No208, 2nd Floor, Sewa Corporate Park, Mehrauli-Gurgaon Rd, Gurugram, Haryana 122001
• Email them at grievance@hdfcERGO.com

If you're dissatisfied with your experience or haven't received a response from the HDFC ERGO team, you can reach out to Mr. Rohit Khurana, InsuranceDekho’s Grievance Redressal Officer, by sending an email to grievance@insurancedekho.com.