HDFC ERGO Bike Insurance
HDFC ERGO Bike Insurance- Everything You need to know
Let’s take a look at HDFC ERGO Bike Insurance. The total sales volume of two-wheeler vehicles has just skyrocketed in India in the past 10 years or so. In fact, according to the reports, the total number of two-wheeler vehicle sales hit 21-million figure in 2019.
With so many vehicles on the busy streets of India, the chances and percentage of accidents have also seen a massive spike. That’s why the government of India has made it obligatory for all two-wheeler vehicle owners to buy third-party purchase insurance at the time of purchase. Third-party bike insurance is a mode of compensation for the bike owners and third-party if someone bumps into them or hits a third-party owner.
What Is HDFC ERGO Bike Insurance Policy?
Hdfc ergo bike insurance or two-wheeler insurance policy gives protection to your two-wheeler vehicle against unwanted incidents such as burglary, theft, natural calamities, and accidents.
Basically, the hdfc ergo bike insurance policy provides you financial protection in case of accidents with third-party vehicles, property, or persons.
What Types Of Vehicles Are Covered By Policy?
Applies to all categories of two-wheeled vehicles, including:
· Electric scooters/bikes
· Moped scooters/bikes
· Motorcycles
· And other two-wheeler units
Types Of Plans
Currently, there are four types of hdfc ergo bike insurance plans, including;
1- Comprehensive two-wheeler insurance
This hdfc ergo a bike insurance plan protects against two types of damages;
· Your two-wheeler
· Liability against the damage/loss sustained by the third-party property/person
The policyholder can also get add-on covers at very affordable prices. Moreover, the company offers three different policy tenures (1 year, 2 years, and 3 years).
2- Stand Alone Own Damage Cover
Stand Alone own damage cover just protects the policyholder against the losses sustained because of damages to his two-wheeler vehicle due to vandalism, fire, explosion, accident, or manmade/natural calamities. It just covers the repair costs or cost of damages to the policyholder’s bike or scooter.
3- Third-Party Cover
Third-party cover is more of a mandatory thing for Bike/two-wheeler vehicle owners because of Motor Vehicles Act 1988. Any two-wheeler vehicle owner driving without this cover can be fined Rs. 2000. Third-party cover only protects the policy owners from third-party liability that may arise due to bodily injury and property damage incurred to the third party.
4- Cover For Brand New Bikes
This insurance plan protects against any losses or damages to a third party for 5 years and damages to the policyholder’s vehicle for 1 year.
What is covered by insurance | What is not covered by insurance |
· Fire and explosion · Accidents · Thefts · Third-party liability · Personal accidents · calamities |
· Illegal driving · Mechanical and electrical breakdown · Depreciation |
Major Benefits of Insurance
· The policyholder can make unlimited claims.
· The company offers a quick and seamless online insurance procedure.
· The policyholder can renew their insurance plan without inspection
· 24/7 emergency assistance
· The company has a massive network of more than 68000 garages
· Doorstep repair services
· Emergency roadside assistance
· HDFC ERGO has the highest claim settlement ratio
Insurance Accepted