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    • Supreme Court to examine if pillion rider can claim insurance under 'Act Only' Policy

      According to reports, the Supreme Court will examine whether a pillion rider is entitled to claim insurance in the case of an ‘Act Only’ policy. The bench of Justice Dhananjaya Y. Chandrachud and Justice Hrishikesh Roy have issued a notice in a special leave petition filed by an Insurance Company against a judgement made by the Karnataka High Court.

      In the Branch Manager, Legal, National Insurance Company Limited vs. Pintu, the contention raised by the insurance company mentioned that since the policy was not a comprehensive package policy but only an ‘Act Only’ policy, the insurer is not liable for the injuries of the pillion rider.

      The Karnataka High Court had rejected this contention on the grounds that the pillion rider is considered a third party and hence the insurer cannot avoid the liability to pay the compensation to the pillion rider on the grounds that the policy does not cover the risk for the pillion rider. The insurance does cover the risk of third-party injury, and a pillion rider is considered as a third-party entity.

      28 November 2019

    • Auto industry faced a slump even during the festive season

      There was a slump in auto sales even during the festive season of Dussehra and Diwali. There was a month-on-month recovery in sales, but the year-on-year growth remains bleak. Commercial vehicles saw decline in sales but there was improvement in the sales of passenger vehicles and two-wheelers. A possible demand trigger in the coming months that the auto industry is banking on is the implementation of BS VI which could result in pre-buying ahead of it. The car segment had good growth for Maruti, however, reporting a growth of 6%. M&M and Tata Motors, however, had a decline in sales to 23.1% and 28% respectively. In the two-wheeler segment, Eicher reported an increase of 2.1% for its premium bike category. However, Bajaj Auto, TVS, and Hero saw a decline of 13.9%, 20%, and 18.4% respectively. In the three-wheeler market segment, growth was seen in the sales figures of M&M and TVS at 3.2% and 7.7% respectively. Bajaj Auto had a decline of 5.5%. In the tractor segment, there was an increase of 1.3% for Escorts and a decrease of 4.1% for M&M. For the monthly exports, there was a rise in numbers for Escorts, Eicher, Maruti, and TVS while others had a decline.

      7 November 2019

    • Bajaj brings back the legendary Chetak

      The Bajaj Chetak was one of the most-loved scooters of its time and after 14 years it has made a comeback. However, this time the Chetak is powered by an electric engine. This makes Bajaj the first mainstream automaker in India to enter the electric vehicle space.

      Reportedly, the production belt for the Chetak has already rolled on 25 September 2019. The price of the motorcycle is yet to be revealed. Bajaj has stated that the price will be revealed during the Pune launch event of the scooter which is scheduled for January 2020. Rajiv Bajaj, the Managing Director of Bajaj Auto has stated that the scooter will be priced attractively rather than aggressively. He further added that the priced will not be as high as Rs.1.5 lakh. Powering the brand new Chetak is a 4kW electric motor which is driven by a IP67-rated lithium-ion battery pack. The scooter will come with 2 riding modes as well – Eco and Sport. In addition to that, it will have a reverse assist feature. The range of the scooter quoted by the company is 85 kms in Sport mode and 95 kms Eco mode. The efficiency figures have been tested in city conditions and the company claims that the ARAI rated test figures will be much higher than these. Externally, the Chetak gets a retro design line which is accompanied by LED lighting system.

      24 October 2019

    • Triumph motorcycles being offered with attractive benefits

      With the festive season at its peak, British motorcycle maker, Triumph has recently announced its festive offer which can be availed across some of its selected vehicles. The automaker is offering benefits of up to Rs.2.8 lakh. The offer is valid till the 27 October 2019.

      The company had rolled out benefits for the Street Triple RS earlier. The latest entrants in the festive offer include the Tiger 800 XR, Bonneville T100, and the Tiger 1200. The middle-weight adventure bike, Tiger 800 XR will get benefits worth Rs.2.8 lakh which includes a set of panniers worth Rs.1 lakh. In addition to that, the company is also offering an extended warranty for 2 years and store vouchers worth Rs.1.5 lakh. These vouchers can be redeemed at the Triumph dealerships against official accessories and merchandise from the company. The customers who will purchase the Tiger 1200 will be offered a training session at the Triumph Adventure Experience in Whales as well as a Factory Tour in Hinckley. The Bonneville T100 will come with benefits worth Rs.1.75 lakh in store vouchers. Customers can also choose to avail the offer in relation to finance for the motorcycle.

      22 October 2019

    • Various two-wheeler brands to skip Auto Expo 2020

      Various two-wheeler brands are expected to skip the Auto Expo 2020, which will be held in Delhi. The main reasons for two-wheeler manufacturers to skip the show are the decrease in sales and the reduction in revenue.

      Ather Energy, Motoroyale by Kinetic, Harley-Davidson India, Ducati India, India Kawasaki Motor, Triumph Motorcycles India, BMW Motorrad India, Jawa Motorcycles, Yamaha Motor India, Honda Motorcycle and Scooter India, Bajaj Auto, Royal Enfield, TVS Motor Company, and Hero MotoCorp are expected to skip the show. The prices of all vehicles were increased because of the compulsory addition of ABS/CBS safety and revision of insurance prices. There was a further increase in prices because manufacturers faced an additional R&D cost because all vehicles had to be updated to BS-VI emission norms. Two-wheeler prices are not expected to reduce as well because the government has not provided any tax relief thus far. According to a statement made by Hero MotoCorp, the manufacturer plans on skipping the Auto Expo as months of planning and massive resources in terms of manpower and financial spends will have to be allocated. However, even though some of the major two-wheeler manufacturers are skipping the Auto Expo, many electric bikes and scooter manufacturers are expected to attend the show. Electric two-wheeler sales have seen a rise because various government policies have boosted electric mobility. The Auto Expo will be held from 7 February 2020 to 12 February 2020.

      18 October 2019

    • InsureNearby Ties Up With Bharti AXA and Go Digit for Bike Insurance

      InsureNearby has launched two wheeler insurance in partnership with Bharti AXA and GoDigit. InsureNearby is promoted by Nearby Technologies and is targeting a network of over 7.5 lakh retail agents through which it plans on selling policies.

      Retail agents are registered under the organisation’s sister company, PayNearby which authorises them as POS (point of sale) agents.

      The company plans on offering a more diverse range of policies and special riders etc. after ascertaining demand from customers.

      The company hopes to tap into an emerging market for insurance, especially with stricter enforcement of traffic rules after the amendments to the Motor Vehicles Act, 2019.

      15 October 2019

    • Growth of Rs.100 billion expected in the third-party motor insurance market

      Due to the penetration in the third-party insurance motor market, The Street has been expecting a growth in the general insurance industry. Strict traffic violation penalties have also been a reason why The Street has been so bullish on the market growth.

      The headroom for premium growth in the case of third-party premiums is expected to be at 26% for FY2019. This will be similar to a 5-6% growth in the overall market. The main reason for the profits to be high will be due to an increase in inherent profitability in car and two-wheeler segments. The Street has been bullish in the last few months because of the penetration of third-party insurance. Individuals usually do not renew their insurance after the first year. However, the Supreme Court has made it compulsory for all cars and two-wheelers to come with three and five-year third-party insurance policies. The fines have also increased for uninsured vehicles. The Street is expecting growth because of these two reasons. The potential growth via the increased compliance levels is expected to be Rs.100 billion. Market participants also suggest the overall compliance is low for cars and two-wheelers when compared to commercial vehicles. Bajaj Allianz and ICICI Lombard have a 60% and 82% share in the two-wheeler and car segment.

      3 October 2019

    • How to file a two-wheeler insurance claim?

      When you purchase a two-wheeler for yourself then it becomes mandatory for you to purchase a two-wheeler insurance plan. In case something happens to your vehicle, you can get in touch with the insurance company who will help you compensate for the damage incurred by your vehicle. Hence, it is important to know the process of applying for a two-wheeler insurance claim.

      We will have a look at the steps you will have to follow in order to successfully file for a two-wheeler insurance claim:

      In case of an accident, collect the details of the vehicle and the driver who was involved in the accident. Do take pictures of the accident scene from every angle as it will only make it easy for the insurer to decide the type of claim you will need to file.

      The next step will be to visit the nearest police station and file an FIR. Keep a copy of the FIR. You will have to obtain a No-Trace certificate if your vehicle is stolen.

      Once the initial formalities have been completed, you will have to head to the authorized service center for your vehicle. Share the details of your policy who in turn will inform the insurance company.

      Once the insurance company has been informed regarding the accident, an inspector or surveyor will be sent who will inspect the two-wheeler. He/she will also receive the estimates for the repair from the service center.

      27 September 2019

    • Ather 340 e-scooter discontinued

      Ather Energy, the Bengaluru-based company had halted the production of the Ather 340 e-scooter previously. The company had stated that the production was temporarily stopped owing to low demand of the scooter. As the Ather 450 was doing well, they wanted to redirect the production line to manufacture the 450s only.

      The company has, however, recently announced that they have stopped the production of the 340. Although the 340 was a more affordable option, it did not perform well in the market and that has led the company to pull the plug out on the 340 completely. The company has also hinted at focussing more on streamlining and scaling up their production. The company has 2 more scooters in its pipeline at present which are set to be revealed in 2021. One of these two scooters will be an affordable option and is expected to be priced close to a 125 cc scooter.

      24 September 2019

    • Gujarat extends the deadline for the implementation of fines for helmet, PUC

      Gujarat has extended the implementation of new penalties related to helmet and pollution-under-control (PUC) certificates offences. The new rules will come into effect from October 15 this year.

      Earlier the penalties for traffic offences were reduced after the ruling party in Gujarat dissolved the recently amended Motor Vehicles Act. For example, while the fine for driving a two-wheeler without helmet was Rs.1,000 under the Motor Vehicles Act, it is Rs.500 for the same offence under the new penalties implemented by the government in Gujarat.

      As of now the penalty imposed for traffic related offense such as riding a two-wheeler without helmet, or not carrying the PUC certificate will be Rs.100 till October 15.

      19 September 2019

    • Hero FinCorp to place acquisition offer for 100% stake in Reliance General Insurance

      Hero FinCorp, the non-banking financial company (NBFC), will place an acquisition offer for 100% stake in the insurance firm Reliance General Insurance in the month of July 2019. The parent company of Reliance General Insurance, Reliance Capital, may seek Rs.6,000 crore for the acquisition. A valuation in the range of Rs.7,500 crore to Rs.8,000 crore was sought via IPO by Reliance General Insurance earlier. The company’s book value was Rs.1,600 crore at the end of the 2019 financial year.

      17 July 2019

    • Third party compensation cannot be denied for a lapsed temporary RC

      Insurance companies will have to pay the compensation to the policyholder in case the vehicle meets with an accident even after the lapse of temporary registration of the vehicle. This is according to Himachal Pradesh high court. Temporary registration of the vehicle is generally valid for 30 days. People generally opt for a temporary RC to drive the vehicle around for a while before getting a permanent RC. After receiving the temporary registration number, insurers generally buy an insurance policy for the duration they need. It was clarified that there is no condition mentioned in the policy where the insurer will not be held liable towards third-party liabilities for wanting a valid registration certificate of the vehicle. 

      16 July 2019

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    Customer Reviews

    • National Insurance Two Wheeler Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler insurance policy for bullet 350 from National insurance.I will use my bike only when I go to my native. I will pay the premium amount of Rs.3,990 yearly. I do not have any claim experience so far. The plans covers up to 2 lakhs. I do the renewal on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 13, 2019
    • HDFC Ergo
      HDFC Ergo Two Wheeler Insurance
      "Better Policy"
      0.5 4.0/5 "Great!"
      I haven't taken any customer support yet for my two wheeler insurance from HDFC Ergo. I have taken 4 years combination policy for that i have paid the premium amount of Rs. 9000 and I'm convenient with the IDV value. I took the policy in the showroom itself.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 13, 2019
    • ICICI Lombard Two Wheeler Insurance
      "Best Policy"
      0.5 5.0/5 "Blown Away!"
      In the place where i'm working, they have a office for ICICI Lombard so that i have purchased my two wheeler insurance with them. I pay the premium amount of Rs. 2700 for the 1 year duration and they gave me a IDV value of Rs. 1.42 lakhs. At the time of policy expiry, they are sending notification through messages.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 13, 2019
    • ICICI Lombard Two Wheeler Insurance
      "Best Service"
      0.5 4.0/5 "Great!"
      I have taken Two wheeler Insurance through ICICI Lombard general insurance directly .The vehicle model was 2018 and it was Hero extreme .This policy tenure is 1 year and need to renew every year. I have got a clear picture about the policy .I am satisfied with the service .I have not gone for any claim so far.
      Was this review helpful? 1
      , kolkata
      Reviewed on Dec 10, 2019
    • ICICI Lombard Two Wheeler Insurance
      "Good Insurance"
      0.5 3.0/5 "Satisfactory"
      When I bought the bike, they have given me a two wheeler insurance from ICICI Lombard. I am paying the premium amount of Rs.2,300 and I'm satisfied with IDV value. I used to renew the policy in the showroom. I come to know about the expiry date through the messages and calls.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 08, 2019
    • Oriental Insurance Two Wheeler Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      My two wheeler insurance was taken from Oriental because when i purchase the bike, from the showroom side, they have provided me this policy. I pay the premium amount of Rs. 3000 and they are giving coverage upto 60%. I used to renew the policy by visiting their branch directly. They are sending reminders at the time of policy expiry.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 07, 2019
    • Reliance General Two Wheeler Insurance
      "Better Policy"
      0.5 5.0/5 "Blown Away!"
      My two wheeler insurance was taken from Reliance insurance. Its because of the easy claim process and higher IDV value, i have selected this two wheeler insurance but i do not have any claim experience as of now. I have paid the premium amount of Rs. 1800 for the IDV value of Rs. 76000. I used to renew the policy through the agent.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Dec 06, 2019
    • Oriental Insurance Two Wheeler Insurance
      "Bike safety plan."
      0.5 4.5/5 "Excellent!"
      My two wheeler insurance was purchased from Oriental and i have selected this policy because the premium amount is less and the coverage value is high. I have paid the premium amount of Rs. 2200 for a year and they are covering upto Rs. 68000. Its a bumper to bumper covered policy with a third party cover statement.
      Was this review helpful? 0
      , dindigul
      Reviewed on Dec 03, 2019
    • Bharti Axa Two Wheeler Insurance
      "They are frauds and waste of your money and hassle."
      0.5 0.5/5 "Unacceptable"
      Hi Friends, am renewed my bike policy through AXA online, till i complete all my personnel details was matching but post payment i got policy printed with different name and Island address which its system error and they are not helping too.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 03, 2019
    • National Insurance Two Wheeler Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      My two wheeler insurance was taken from National, because from the showroom side they have provided the policy to take from this company. I have been paying the premium amount of Rs.1,800 for that they are providing the coverage value of Rs 1L. I do not have any claim experience till now.
      Was this review helpful? 1
      , parvathipuram
      Reviewed on Dec 03, 2019
    • New India Two Wheeler Insurance
      "No claim experience"
      0.5 5.0/5 "Blown Away!"
      For Apache bike, I have purchased the two wheeler insurance from New India. Till now I have not applied any claim. I have paid the premium amount of Rs. 1500 and this is a third party insurance cover policy. My friend is working as a agent hence he used to give me a reminder hence I renew the policy.
      Was this review helpful? 0
      , tirupur
      Reviewed on Nov 28, 2019
    • ICICI Lombard Two Wheeler Insurance
      "User friendly policy"
      0.5 5.0/5 "Blown Away!"
      From the bike showroom, they have provided me a two wheeler insurance policy from ICICI Lombard. They have charged me a premium amount of Rs. 3800. Since my bike is 4 years old, they have given me a coverage amount of Rs. 1 lakh. Earlier they have covered with bumper to bumper for the first 2 years and now they have covered up to 83%.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 26, 2019
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