HDFC ERGO Own Damage Bike Insurance

HDFC ERGO's standalone own damage (SAOD) insurance plan provides coverage for your motorcycle and protects you against various events. Fro m natural calamities such as earthquakes, floods, and cyclones to man-made events like theft, burglary, riots, and strikes, this policy provides comprehensive coverage. This standalone own-damage policy cover by HDFC ERGO is specifically designed to provide affordable motor insurance solutions.

What is Own Damage Bike Insurance?

Your bike insurance is a shield against financial losses from vehicle damage. However, the extent of coverage largely depends on the specific policy you select. While the Motor Vehicles Act of 1988 mandates third-party cover for all vehicle owners, it only addresses liabilities towards third parties.

Hence, opting for own damage insurance for your bike broadens the protection scope to include accidents, fire, theft, burglary, natural disasters, and man-made calamities. To ensure coverage for repair expenses and part replacement costs, it's important to have a standalone own damage bike insurance policy in addition to the basic third-party plan.

Key Features

Let us take a look at some key features of HDFC ERGO own damage bike insurance policy:

• Own Damage Coverage: HDFC ERGO own damage bike insurance policy protects your bike against theft, fire, accidents, natural disasters like floods and earthquakes, and any other insurable risks.
• No Claim Bonus (NCB): When renewing your own damage bike insurance, you can enjoy NCB benefits if you haven't filed any claims throughout the policy period.
• Budget-Friendly Premiums: The own damage bike insurance from HDFC ERGO ensures affordability without compromising on coverage.
• Cashless Garages: You can benefit from HDFC ERGO's extensive network of over 2000+ garages, providing free repair and replacement services.
• Optional Add-Ons: With HDFC ERGO's own damage bike insurance, you have the flexibility to choose from add-ons such as NCB protection, zero depreciation, emergency roadside assistance, and more.

How To Buy HDFC ERGO Standalone Own Damage Bike Insurance?

To purchase HDFC ERGO Bike own-damage insurance online, follow these steps:

• Step 1: Go to the two-wheeler insurance section within the HDFC ERGO website.
• Step 2: Input necessary details, including your mobile number, email address, bike registration number, city of registration, and registration year.
• Step 3: Choose the HDFC ERGO standalone bike insurance policy from the available options.
• Step 4: Personalise your coverage by selecting add-on options that align with your requirements.
• Step 5: Complete the premium payment using debit or credit cards, net banking, or other convenient payment methods.
• Step 6: Access your bike policy documents effortlessly as they are delivered directly to your email inbox.

Offline Process

Call customer support at 7551196989 or email support@insurancedekho.com to book a home visit from a relationship manager, who will guide you through the offline purchase process.

Add-Ons For HDFC ERGO OD Bike Insurance

When you opt for two-wheeler own damage insurance from HDFC ERGO, you gain access to a variety of add-ons such as no-claim bonus protection, zero depreciation, emergency roadside assistance, and more.

• EV-Smart Add-Ons: These extra add-ons offer coverage for your battery charger and accessories, protect your electric motor, and provide a zero depreciation claim specifically for the battery charger.
• Zero Depreciation Cover: With HDFC ERGO zero depreciation claim for the bike insurance, you'll be compensated for any depreciation when repairing the vehicle.

Documents Required to Buy HDFC ERGO Standalone Damage Bike Insurance

Please note that you require the below-mentioned documents to buy HDFC ERGO Standalone Damage Bike Insurance:

• Proof of identity (Passport/Ration Card/Driving Licence/Aadhaar/Voter’s ID, etc.)
• Proof of address (Voter’s ID Card/Passport/Aadhaar, etc.)
• Registration Certificate (RC) of the bike
• Recent passport-size photographs.
• Old policy number, if required

How Does Standalone Own Damage Bike Insurance Policy Work?

Standalone own-damage insurance offers comprehensive protection for your vehicle against a range of perils, including accidents, theft, natural disasters, and fire. Premiums are calculated based on factors such as your bike's make and model, age, location, insured declared value (IDV), and any optional add-ons you select.

Generally issued for one-year terms, renewable annually, this insurance requires prompt notification and claim filing in case of damage or loss. Policyholders must provide details such as the incident's time, date, location, and nature to the insurer. After assessment, the insurer will determine the claim amount according to policy terms, arranging repairs at a network garage or providing compensation equivalent to repair costs. Renewal before the expiration date is crucial to maintain uninterrupted coverage.

HDFC ERGO Own Damage Bike Insurance Claim Process

How to File a Claim (Step-by-Step Process)

If you're in an accident and need to deal with damages, it can be tough. But you can make it easier by following these easy steps on InsuranceDekho's website to claim your standalone own damage insurance.

• Step 1 - Start by getting in touch with us. You can reach us via our toll-free number at +91-7551196989 or send us an email at support@insurancedekho.com.

• Step 2 - After that, an InsuranceDekho agent will guide you throughout the claim settlement process.

• Step 3: Follow the steps mentioned by the InsuranceDekho agent by providing him/her with all the necessary documents. With this, the claim settlement process will be hassle-free.

Documents Required

Listed below are the documents required to file a claim for standalone own damage Bike insurance:

Accidental Damage

• Proof own damage bike insurance policy
• Copy of Bike’s RC, and original tax receipts for verification
• Police FIR report
• Copy of your original driving licence
• Damage repair estimate.
• Payment receipts and repair bills

Theft Related Claim

• Original copy of own damage insurance for bike
• Theft endorsement from the concerned Regional Transport Office
• Original RC Tax payment receipt
• Service booklets/bike keys and the warranty card
• Previous Two Wheeler Insurance Details like two wheeler insurance policy number, insurance company details and duration of the policy period
• Police FIR/ JMFC report/ Final investigation report
• An approved copy of the letter addressing the concerned RTO regarding the theft and declaring the bike as "NON-USE."

Damage Due to Fire:

• Original own damage bike insurance policy documents
• Soft copy of the Registration Certificate of the bike
• Soft copy of the Driving License of the rider
• Present evidence of the incident through photographs or videos
• FIR (if required)
• Report of the fire brigade (if any)

Claim Assistance

You can also seek help from InsuranceDekho by reaching out to us via email at support@insurancedekho.com. Additionally, you can call us at +91-7551196989 to request an agent for an in-person visit.

Covered Vs Not Covered Under Under HDFC ERGO Standalone (OD) Bike Insurance Policy?

Inclusions:

Listed below are the inclusions in HDFC ERGO’s standalone own damage insurance:

• Accidents: When your vehicle is caught up in accidents, the resulting damages are covered by our policy.
• Fire & Explosion: A sudden fire or explosion can damage your prized possession. Our policy ensures your finances do not get untouched by these events.
• Theft: This policy cover can protect your finances by covering the losses incurred due to theft of your bike.
• Calamities: Natural calamities are beyond one’s control, but this policy helps you recover your vehicle without causing a strain on your finances.

Exclusions:

Listed below are the exclusions in HDFC ERGO’s standalone own damage insurance:

• Third Party Liability: With standalone Own Damage Bike Insurance, damages to your bike are covered. Your third-party cover handles other liabilities.
• Depreciation: Unfortunately, HDFC ERGO’s own damage policy doesn't cover general wear and tear or depreciation in your bike's value.
• Electrical & Mechanical Breakdown: Any electrical or mechanical breakdowns aren't covered under this policy.
• Illegal Driving: Engaging in illegal activities like riding under the influence or without a valid licence isn't covered under this policy.

Factors that Affect Your Own Damage Bike Insurance Premium?

It is important to consider these factors affecting standalone own damage insurance premiums:

• IDV: The Insured Declared Value (IDV) plays a crucial role in calculating the Own Damage (OD) premium. However, overstating this value can have adverse effects.
• Age of Bike: The age of your bike is another key factor affecting premiums. Older bikes typically incur higher premiums due to sustained wear and tear from regular usage.
• NCB: No Claim Bonus (NCB) usually accompanies a higher premium. However, it offers the benefit of reducing subsequent premiums if no claims are made.
• Bike Make Model: The make and model of your bike also influence premium calculation. Premiums are higher for higher-end bikes. Conversely, bikes equipped with more safety features often attract lower premiums as they are considered lower insurance risks.