Insurance is like a spare tyre. You may not require it, but not having one is not an option.
Insurance is like a spare tyre. You may not require it, but not having one is not an option.
  • Liberty Videocon Two Wheeler Insurance Policy

     3.0 / 5.0   by 6 users
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    Plan Benefits

    Policy Coverage

    Customer Service

    Claim Experience

    Overview:

    The two wheelers manufactured today use the latest technology to operate, which also increases the risk of meeting with accidents. In order to ensure that riders are financially covered to use their two wheelers, insurance policies have become increasingly important. A comprehensive insurance plan will protect you in case of any unfortunate damage or loss that may be incurred by the vehicle due to accidents.


    Key Benefits Of Liberty Videocon Two Wheeler Insurance

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    02
    Cashless Claim Networks

    Cashless Claim Networks

    Cashless claim service available at authorised network garages across India.

    Accidental Cover

    Accidental Cover

    Personal accident coverage will be provided to policyholders.


    Add-on Covers For Liberty Videocon Two Wheeler Insurance

    01

    Additional Covers

    Policyholders can avail additional cover for their Two Wheeler Insurance policy.


    Inclusions And Exclusions In Liberty Videocon Two Wheeler Insurance

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    02
    Inclusion

    Inclusion

    Loss or damage to the insured vehicle due to fire / earthquake / flood / cyclone

    Exclusion

    Exclusion

    Damage by a person driving under the influence of liquor / alcohol / drugs


    Liberty Videocon has made available to its customers the Liberty Videocon Two Wheeler Insurance plan that not only provides cover against liabilities that may potentially evolve due to third party problems, but also offers financial cover against other expenses that could be incurred by the owner of a two wheeler. The policy can be availed by any individual who owns auto-cycles, motorcycles, mechanically-assisted pedal cycles, mopeds, bikes and scooters. The comprehensive policy can be availed by any financier or corporate owner or individual with a two wheeler in India.

    Features and Benefits of Liberty Two Wheeler Insurance Plan:

    • Over 615 network spots for customers to avail cashless claim service.
    • Easy documentation and inspection procedures.
    • All claims are usually settled within seven working days, unlike most other plans in the market which take between 10 and 15 days.
    • A variety of extra protection plans in addition to the traditional plans to enhance cover.
    • 24/7 customer care service for claim processing and all kinds of queries regarding insurance.
    • Guaranteed compensation if the vehicle is partially or totally damaged due to theft or accident.
    • Financial cover against bodily injuries and damages caused by third parties.
    • Discounts can be availed when the policy is renewed.
    • Easy-to-reach telephonic service to ensure that assistance and support is provided round the clock for effective claims process.

    Coverage Features for Two Wheelers under Liberty Videocon Two Wheeler Insurance Policy:

    • The insured will be covered against damages or loss caused by disasters or natural calamities such as earthquake, lightening and thunder.
    • Coverage against damages caused by manmade calamities like malevolent acts, robbery, strikes, insurgence, theft or any damage incurred in transit by elevator, inland waterway, road, air or rail.
    • The extent of coverage will be covered under the policy benefit, but the repairing cost will be subject to the insurer’s authorisation.
    • Repairing expenses are covered to a maximum limit of Rs.150.
    • Before the two wheeler has been sent for repairs, the insured must provide the insurer with a detailed cost estimate.
    • Additional extension covers can be availed by customers who wish to obtain extra cover by paying an additional premium amount.

    Depreciation of Parts

    In case an insured vehicle suffers damages due to accident, the insurer will reimburse the replacement costs after considering depreciation. Following is a table stating the rate of depreciation associated with the various parts of a two wheeler.

    Nature of Expenses Rate of Depreciation
    Parts that are made of glass Nil
    Parts made of components of fibre glass 30%
    Parts made of plastic / nylon / rubber such as airbags, batteries and tubes 50%

    Liberty Videocon Two Wheeler Insurance Claims Process :

    Liberty Two Wheeler Insurance Coverage

    In case the insured two wheeler incurs damages or losses due to accident, there are various channels through which the owner of the vehicle can lodge claims. Following are the options to choose from:

    • Call 18002665844 (Toll Free Number) on any day of the week between 8 am and 8 pm.
    • Pay a visit to the nearest branch.
    • Send a written intimation letter to the applicable branch or registered office via courier or post.

    Information to be Submitted when Lodging a Claim

    • Name and contact details of the insured.
    • Policy number of the motor insurance.
    • Full address of the location at which the damage or loss occurred.
    • Full address of the location where the damaged two wheeler will be inspected.
    • The vehicle’s registration number.
    • Name of the individual riding the two wheeler when it incurred damages or loss.
    • The driving license number of the rider.
    • In case of theft, the name of the individual who held custody of the two wheeler.
    • Name and address of the police station where the damage or loss is notified.
    • Brief description of the manner in which the damage / loss occurred.
    • Your name and full contact information along with your relationship with the insured.
    • Name/s of the individual/s who suffered from bodily injuries or passed away in the accident.
    • Estimated amount of the total loss.
    • Information regarding loss minimisation.

    Documents to be Submitted when Lodging Claims :

    The documents you must submit to lodge a claim for Liberty Videocon Two Wheeler Insurance may vary depending on the cause of loss / damage. In case of accidents, insured individuals will have to furnish the following documents:

    • Duly filled and signed claim form.
    • Original Registration Certificate along with a copy. The original certificate will have to be surrendered to the insurer in case of theft.
    • Driving license copy along with the original document for verification.
    • In case of fire, a report from the fire brigade.
    • First information report from the police, if applicable.
    • Original bills for repairs and replacement for reimbursement claims.
    • In case of Total Loss, Power of Attorney and Subrogation.
    • Pictures of the damaged two wheeler.
    • Discharge voucher.

    In case the insured two wheeler was subject to robbery or theft, the documents that must be furnished are as follow:

    • Duly filled and signed claim form.
    • Original Registration Certificate along with a copy of the same. The original document will have to be surrendered in case of total theft.
    • Original driving license along with a copy. The original will be used for verification purposes.
    • Report from the fire brigade in case of fire.
    • First information report from the police, if applicable.
    • Original bills relating to replacement and repairs for reimbursement claims.
    • Pictures of the damaged two wheeler.
    • In case of Theft and Total Loss, NOC from financier.
    • In case of Total Loss, Power of Attorney and Subrogation.
    • Indemnity Bond.
    • All keys of the two wheeler.
    • Discharge voucher.

    Mode of Payment:

    The Liberty Videocon Two Wheeler Insurance policy provides both non-cashless as well as cashless facility for reimbursements. In case the two wheeler undergoes repairs in a network garage, the expenses incurred will be paid directly to the garage provided that the expenses are included in the claim criteria. If the payment exceeds the amount stated in the claim policy, the excess expenses will be borne by the customer.

    If the repairs have been made in a garage that is not part of the network, the customer will have to follow the reimbursement claim process that is mentioned in the document list provided by the insurer. The claim amount will then be directly remitted to your bank account within seven working days.

    General Exclusions of Liberty Bike Insurance Plan:

    Benefits under the Liberty Videocon Two Wheeler Insurance policies will not be granted to customers in case of the reasons mentioned below:

    • Damages or losses incurred out of the geographic location stipulated in the policy coverage.
    • Damages or losses that occur as a direct effect of contractual agreement or a consequential effect of it.
    • Injuries or death occurring in case the insured is inebriated.
    • Injuries or death occurring when the rider is found riding the two wheeler without a valid driving license.
    • The maximum amount of compensation may be almost 50% of the costs incurred when replacing the parts damaged or lost due to accident.
    • Damage to tubes and tyres unless the insured vehicle also incurs damages in the same accident.
    • Regular wear and tear of the two wheeler and depreciation.
    • Suicide or self-inflicted injuries or riding under the influence or alcohol, drugs or narcotics.

    Liberty Videocon Two-wheeler Insurance FAQs

    1. If there are changes to be made to the two-wheeler insurance policy from Liberty Videocon, how do I go about it?

      If you would like to update the policy documentation with personal information or make changes to the vehicle usage/structure, you can do so through an endorsement. Based on the type of change you have requested, the premium may or may not increase. You can contact the insurance company at its toll-free number, 1800-266-5844, for more details. Alternatively, you can send an email to care@libertyvideocon.com or visit any of their branch offices.

    2. What is a premium-bearing endorsement?

      An endorsement for which additional premiums are charged is referred to as a premium-bearing endorsement. Some of these include addition of LPG/CNG kit to the vehicle, transfer of vehicle ownership, change in the location of RTO, etc.

    3. I have transferred the ownership of my vehicle to another person. Can the two-wheeler insurance policy continue in my name?

      No, the insurance policy and registration records of the vehicle should always be in the name of the same person. Otherwise, the insurer will not honour claims.

    4. What documents should I submit for the transfer of my two-wheeler insurance policy?

      The following documents need to be submitted when transferring your two-wheeler insurance policy:

      • RC copy with the name of the new owner
      • Fresh proposal form updated by the new owner
      • A consent letter for transfer of the insurance policy from the existing policyholder
      • Old insurance policy documentation, including insurance certificate, in original
      • Transfer fee of Rs.50
      • Additional premium corresponding to the difference in NCB
      • Report of inspection of the vehicle

      The above list is only indicative. For specific details, please contact the insurance company at its toll-free number or email ID.

    5. My two-wheeler insurance policy has already expired. How do I renew it?

      You can renew your two-wheeler insurance policy easily by contacting the insurer. But since there is a gap in insurance coverage for your vehicle, the bike will need to be physically examined by an authorised representative from the insurance company. The NCB entitlement will be according to the prevailing norms.

    6. What is lost key assistance?

      Lost key assistance cover is offered by Liberty Videocon on its two-wheeler insurance policy. In the event of an emergency where your bike keys are misplaced or damaged, the insurance company will arrange for a representative to replace your keys on the spot.

    7. What is personal accident insurance coverage?

      The Liberty Videocon two-wheeler insurance policy offers coverage to the owner-driver against death or disability in accidents. The personal accident cover is also offered to a person other than the owner-driver if extra premium is paid.

    8. Does the insurer have a grievance redressal mechanism?

      Liberty Videocon has an efficient grievance redressal cell that attends to grievances reported by customers in a timely manner. If policyholders are not satisfied with the services offered by the company or resolutions provided, they can get in touch with the grievance redressal department of the insurer at their toll-free number, 1800-266-5844, or through email at care@libertyvideocon.com.

    9. What is the claim settlement ratio of Liberty Videocon?

      Liberty Videocon has a robust claim settlement ratio of 99% across all insurance products that it offers.

    10. What is cashless claim facility?

      The Liberty Videocon two-wheeler insurance policy provides cashless claim facility as part of the coverage. Following an accident, the policyholder can get the vehicle repaired at any of the 2500+ network garages spread across India. In this event, the policyholder is not required to pay for the repair work upfront. The insurance company will take care of the expenses and settle bills directly with the garage. The policyholder may, however, be required to pay a minimal amount for the deductibles.

      The network garages that the insurer is affiliated to offer best-in-class service to customers. So, you can be assured of quality repair work on your bike at competitive pricing.

    Two-Wheeler Insurance Reviews

  • Page 1 of 1
    • Liberty Videocon Two Wheeler Insurance
      "Better policy to use"
      0.5 5.0/5 "Blown Away!"
      I am holding the Videocon 2 wheeler insurance policy around 3years ago. This policy has the validity of 1year. I paid Rs, 1,200 to renew the policy. The customer support is good with Videocon because they give intimations via calls and text messages before 20 days of the expiry, The coverage and the benefits are good with this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 23, 2017
    • Liberty Videocon Two Wheeler Insurance
      "Great"
      0.5 4.0/5 "Great!"
      I have insured my two wheeler with the Liberty videocon general insurance company and I have done the policy through online. Services are fine one with them and I have not faced any claims and issues with them till now.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Oct 13, 2017
    • Liberty Videocon Two Wheeler Insurance
      "Most Third class Co"
      0.5 1.0/5 "Really Bad"
      This co. deducted claim amount without inform and his officer involve with service center. No answer of my mail. customer satisfaction not matter for this co. The most third class co in India. Plz don't go with Liberty Videocon at all. Don't
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 12, 2017
    • Liberty Videocon Two Wheeler Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had taken my bike insurance with LIBERTY VIDEOCON GENERAL INSURANCE and service was really good, ,Normally I pay the premium of Rs.1340 per annum with good coverage,Actually for payment it is done by office because we have TIE up with them.They had given insurance for all coverage which I am really happy about.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 19, 2017
    • Liberty Videocon Two Wheeler Insurance
      "Reimbursement"
      0.5 0.5/5 "Unacceptable"
      Last month, I met with an accident .insurance fellow came n inpected he confirmed about reembersment so i paid 12,600.but till date i havnt received the payment till date, if some cop catch me that time sue me we dont have any benefit from insurance then why should I pay insurance.
      Was this review helpful? 2
      , bangalore
      Reviewed on Nov 11, 2016
    • Liberty Videocon Two Wheeler Insurance
      "verry verry late.."
      0.5 0.5/5 "Unacceptable"
      I purchased two wheeler recently and insurance got free from showroom , after 5 month. I just feldown on road, met with an accident ,some bike parts were damages I register the complaint in liberty and I waited for 7days but nobody come to work shop dnt buy insurance from this company go for any other.
      Was this review helpful? 4
      , bangalore
      Reviewed on May 05, 2016
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