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  • Mistakes Should Avoid While Purchasing Bike Insurance

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    Purchasing a two wheeler insurance policy may seem like a fairly straightforward endeavour, but customers still make common mistakes that can be so easily avoided. Following are five of the most common errors made when purchasing a two wheeler insurance policy:

    Transfer of policy when purchasing second-hand vehicle

    Purchasing a second-hand vehicle is fairly common in India. However, most people who purchase a second-hand two wheeler make the common mistake of forgetting to get the insurance transferred. In such a scenario, the new owner of the vehicle as well as the vehicle will be uninsured, thereby breaking the law. If you purchase a second-hand vehicle, make sure you have the insurance transferred to your name, or purchase a new insurance policy to avoid unnecessary penalties.

    Lapsed Policies

    Many two wheeler owners don’t even realise when their insurance policies expire. As a result, they ride the streets with zero coverage. Failure to renew your two wheeler insurance policy is not only a legal offence, but can also leave the door open to unnecessary fines and penalties. Most two wheeler insurance policies expire within a year, so make sure that you renew it before it lapses to avoid legal complications.

    Preservation of No Claim Bonus

    In case you have been driving safe and have not met with any accidents over the course of a year, you will have no claims to make. As a reward for your diligence, the insurance company will provide you with a No Claim Bonus which essentially lowers your premium payment for the following year. In case your two wheeler was sold during the year, your No Claim Bonus can be protected by preserving your policy document. The bonus will be yours even if the bike is now in someone else’s possession.

    Selection of the Correct Insured Declared Value

    IDV, as it is known in its abbreviated form, the Insured Declared Value is basically the maximum sum assured that the insurance company agrees to reimburse to the owner of a vehicle in case of its theft or loss. It is essentially the current market value of the two wheeler, and is calculated depending upon the present value and depreciation rate offered by the manufacturer after taking into consideration the age of the vehicle.

    Delay in Intimation of Claims

    The insurance company must be intimated about any claim immediately after an accident or damage or loss of your vehicle. Most companies require their customers to file an intimation between 24 and 48 hours after the vehicle met with the accident. Delay in intimating the company could lead to the rejection of a claim.

    These are some of the most common errors that people make with regards to their two wheeler insurance policies . Make sure that you read through the policy document and gain a thorough understanding about your policy as it will facilitate a smooth and relatively hassle-free claims experience.    

    Mistakes Should Avoid While Purchasing Bike Insurance Reviews

  • Page 1 of 50 1 2 3 4 5
    • HDFC Ergo Two Wheeler Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I am holding the car insurance policy with HDFC ERGO GENERAL INSURANCE from last 4.5 years.I have purchased this insurance through showroom also i had no claim experience with this policy. The premium and IDV is satisfactory. The coverage is for comprehensive.
      Was this review helpful? 1
      , kolkata
      Reviewed on Oct 15, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I am holding the two wheeler policy withBAJAJ ALLIANZ GENERAL INSURANCE from last more than 1 year. I have purchased through showroom. The premium and IDV is satisfactory. I had no claim experience with this policy. The coverage is for full two wheeler.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 15, 2018
    • Bharti Axa Two Wheeler Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have purchased the policy with BHARTI AXA GENERAL INSURANCE on 2017 where i have a good experience. I had no claim experience with this policy also the premium and also the IDV value is satisfactory with this policy. They have provided the satisfactory coverage.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Oct 12, 2018
    • Reliance General Two Wheeler Insurance
      "Good Policy"
      0.5 3.5/5 "Pretty good"
      I have a two wheeler insurance with Reliance general insurance from last 2 years, a premium of Rs 2700 has to be paid for this insurance policy. I have not claimed anything so far with this insurance policy and i am happy with the coverage value.
      Was this review helpful? 2
      , kochi
      Reviewed on Oct 12, 2018
    • New India Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My two wheeler is insured with New India assurance from last 1 year, a premium of Rs 1200 has to be paid for this insurance policy. I have no claim experience so far with this insurance policy. I am happy with the policy coverage and plan benefits of this policy.
      Was this review helpful? 1
      , chennai
      Reviewed on Oct 11, 2018
    • ICICI Lombard Two Wheeler Insurance
      "GOOD"
      0.5 4.5/5 "Excellent!"
      It is a user friendly policy so i have purchased the two wheeler policy with ICICI LOMBARD GENERAL INSURANCE. I had no claim experience with this policy but the premium and also the IDV is nominal. Policy coverage is for 3rd party in this insurance.
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 11, 2018
    • New India Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a two wheeler insurance with New India Assurance from last 4-5 years, a premium of Rs 1200 has to be paid for this insurance policy. I have not claimed anything so far with this insurance policy and i am happy with the coverage value.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 11, 2018
    • Shriram Two Wheeler Insurance
      "Average policy"
      0.5 3.0/5 "Satisfactory"
      I have taken two wheeler insurance from SHRIRAM GENERAL INSURANCE , i got this policy through the showroom where i got the two wheeler . Am satisfied with the premium amount which am making the payments its has good coverage . The good about their service is they used to remind the customers for renewal.
      Was this review helpful? 2
      , new delhi
      Reviewed on Oct 10, 2018
    • Iffco Tokio Two Wheeler Insurance
      "Best Policy"
      0.5 5.0/5 "Blown Away!"
      I have taken two wheeler insurance from Iffco Tokio insurance policy , i got this policy through the showroom where i got the two wheeler . Am satisfied with the premium amount which am making the payments its has good coverage . The good about their service is they used to remind the customers for renewal.
      Was this review helpful? 1
      , new delhi
      Reviewed on Oct 09, 2018
    • ICICI Lombard Two Wheeler Insurance
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I am holding the two wheeler policy with ICICI LOMBARD GENERAL INSURANCE from last 3 years where the service is good and also i have not experienced with any claim with this two wheeler policy. The policy coverage and also the premium, IDV value is satisfactory.
      Was this review helpful? 1
      , chennai
      Reviewed on Oct 09, 2018
    • United India Two Wheeler Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I am using the two wheeler policy from UNITED INDIA INSURANCE from last 10 years also i had a good experience. The service is good also i have not experience d with any claim with this policy. The policy coverage is for 3rd party. Premium and the IDV is 13000.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 09, 2018
    • Tata AIG Two Wheeler Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have taken two wheeler insurance from Tata Aig insurance company I make the payment of rs 1300 for yearly through their agent . Customer service and response is average as they didn't explained the policy benefits .Overall am satisfied with the premium amount which am paying .
      Was this review helpful? 2
      , secunderabad
      Reviewed on Oct 06, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have taken two wheeler insurance from Icici Lombard General insurance for this. I made the payment for 1 years through online banking . Customer service and response is average as they have explained the benefits of the policy . It has good policy coverage with good policy benefits.
      Was this review helpful? 1
      , secunderabad
      Reviewed on Oct 06, 2018
    • Iffco Tokio Two Wheeler Insurance
      "good service"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with IFFCO TOKIO , my claim experience with this insurance is good and i they charge premium per year 1000 rupees per year i do payment by cash or by online by my debit card or by credit card i dont have much idea about the benefit they covered.
      Was this review helpful? 8
      , new delhi
      Reviewed on Oct 03, 2018
    • HDFC Ergo Two Wheeler Insurance
      "GOOD SERVICE"
      0.5 5.0/5 "Blown Away!"
      I have purchased the two wheeler policy through HDFC ERGO GENERAL INSURANCE where i am using from last 1 year and i had no claim experience with this policy. Premium i am paying 1200-1300k and the IDV value is satisfactory. Coverage is for basic.
      Was this review helpful? 3
      , bangalore
      Reviewed on Oct 03, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good service"
      0.5 4.5/5 "Excellent!"
      It has been a very good experience i had with them so far. I had been paying the premiums monthly and the premium amount has not been very high and i had been making the payments online. There has not been any claims made so far and their customer support also had been helpful at times.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Oct 02, 2018
    • HDFC Ergo Two Wheeler Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      My two wheeler is insured with HDFC ERGO from last 1 year, i am happy with the coverage value and plan benefits of this insurance policy. I have no claim experience so far with this insurance policy so far and i pay a premium of Rs 2000.
      Was this review helpful? 5
      , mumbai
      Reviewed on Oct 01, 2018
    • New India Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My two wheeler is insured with New India Assurance from last 1 year, I pay a premium of less than Rs 1000 for this insurance policy. There was no claim experience so far with this insurance policy. I am happy with the policy coverage and plan benefits of this policy.
      Was this review helpful? 5
      , bangalore
      Reviewed on Sep 29, 2018
    • L and T Two Wheeler Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      I have a two wheeler insurance policy with L&T general insurance from last 2 years. I am happy with the coverage value and plan benefits of this insurance policy. I am not aware of the premium amount and i have no claim experience with this insurance.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Sep 29, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My two wheeler is insured with Bajaj Allianz from last 1 year and it is a good policy to use. A premium of Rs 3000 has to be paid for this insurance policy. I have not claimed anything so far with this insurance policy and the coverage value is good in this policy.
      Was this review helpful? 6
      , vadodara
      Reviewed on Sep 27, 2018
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