In today’s world, two wheelers are the best mode of transport when we think about avoiding traffic hassles and eventually helps us to save a lot of time. However with the convenience of an easy ride, two-wheelers come with higher risks of accidents. Having a two wheeler insurance policy is a must for every rider. Every individual should be covered sufficiently to meet unforeseen emergencies and have a stress-free ride.
Key Benefits Of HDFC ERGO Two Wheeler Insurance
Cashless Claim Networks
Cashless claim service is available at authorised network garages across India
A discount of 5% is provided to policyholders aged between 36 - 45 years. For policyholders aged between 46 - 60 years, a discount of 10% is given.
Policyholders can get a cover of up to Rs. 1 lakh as personal accident coverage for accidental death or permanent disability.
Add-on Covers For HDFC ERGO Two Wheeler Insurance
Third Party Cover
The maximum cover for third-party property damage will be Rs. 1,00,000 in the case of two-wheelers
Personal Accident Cover
Personal accident cover provided for the two-wheeler owner, passengers who are named or unnamed in the policy, and pillion passengers. Maximum amount of Insured Declared Value (IDV) will be paid when the policyholder makes a claim.
Inclusions And Exclusions In HDFC ERGO Two Wheeler Insurance
Loss or damage to the insured vehicle due to fire / earthquake / flood / cyclone
Damage by a person driving under the influence of liquor / alcohol / drugs
HDFC ERGO offers an all-inclusive two wheeler insurance policy with multiple add-ons, third party insurance coverage and personal accident cover to ensure that the owner has complete protection. Customers can easily procure an HDFC ERGO bike insurance policy online at the company’s official website. HDFC ERGO offers an instant online policy at competitive prices along with personalized services. Customers can also renew their existing policies on the HDFC ERGO website.
Features & Benefits of HDFC ERGO Two Wheeler Insurance
As a valued asset, a two-wheeler should be protected against damages occurring due to accidents and other emergencies. Two wheeler owners can enjoy a safe ride with HDFC ERGO’s comprehensive bike insurance policy, providing maximum coverage.
The key features of an HDFC ERGO two wheeler insurance policy are given below for your reference -
HDFC ERGO Two Wheeler Insurance Coverage
An HDFC ERGO two wheeler insurance policy includes three types of comprehensive covers for a rider namely -Coverage for loss or damages to vehicles caused by any of the below given events -
- Burglary / House Break-ins / Theft
- Incidents of fire / Explosions / Lightning
- Acts of Terror / Riots / Other Malicious Acts / Strikes
- While in transit by any mode of transport - rail, road, water or air
- Storms / Earthquakes / Landslides / Floods
HDFC ERGO’s two wheeler insurance policy also provides coverage for any legal liability against third party injury or death and third party property damage due to accidents involving the insured vehicle.Personal Accident Cover
Personal Accident cover is also provided by the two wheeler insurance policy for the vehicle owner for up to Rs 1 lakh covering accidental death and permanent disability.
- General wear and tear
- Damages done to vehicles driven by individuals who do not have a valid driving license.
- Mechanical / Electrical breakdowns
- Damages done to vehicles driven by individuals under the influence of alcohol or drugs.
- Loss or Damages to vehicles due to wars and other nuclear risks.
- Tyre damages / Tube damages are covered if the vehicle is also damaged at the same time. The company’s liability is limited to 50% of the cost of replacement of tubes.
- Loss or Damages to vehicles happening outside India.
Add-On Covers for HDFC ERGO Two Wheeler Insurance
The following optional covers are provided by HDFC ERGO with an additional premium payment.
Personal Accident coverage for -
- Two-wheeler owners
- Passengers - Named or Unnamed in the policy
- Pillion Passengers - Unnamed in the policy
Sum Insured -
The sum insured or the coverage amount for a two wheeler is generally determined based on the manufacturer’s listed selling price after the deduction of the depreciation value for each year or the Insured’s Declared value (IDV). When there is a claim made for Total loss or theft, the IDV would be the maximum amount paid.
The premium for an HDFC two wheeler insurance policy is decided based on the following factors -
- The Sum Insured or the Insured’s Declared Value (IDV).
- The type of vehicle that is being insured.
- The age of the vehicle insured.
- The place of registration of the insured vehicle.
- The type of fuel used in the insured vehicle.
How do I apply for an HDFC ERGO Two Wheeler Insurance Policy?
HDFC ERGO customers have two options to apply for a two wheeler insurance policy. They can do so by directly visiting any HDFC General Insurance branch and submit the filled-in application along with the documents required. The first premium has to be paid in the form of a cheque at the branch office.
Customers can also easily buy or renew their policies online using the HDFC ERGO website in just three simple steps. While applying for a new policy, customers can initially calculate the premium they need to pay and understand how much the two wheeler policy would cost them. Then they need to fill in their personal details, vehicle details, select add-ons and pay their first premium online using their debit/credit cards or via net banking. A new policy is generated instantly from HDFC ERGO as a PDF copy.
HDFC ERGO policyholders can quickly register for two wheeler insurance claims by calling up the 24/7 HDFC ERGO customer care helpdesk and get their claim number generated. Customers can either opt for a cashless claim at any of the network garages or apply for a reimbursement claim from HDFC ERGO. They will need to provide details of the accident, FIR report, a repair estimate (for reimbursement claims), and the filled-in claim form along with other documentation to the company. Policyholders need to bear the cost incurred for non-accident related repairs, deductibles and depreciation. The remaining amount will be compensated by HDFC ERGO and reimbursed to the customer.
HDFC ERGO Bike Insurance Renewal Online
HDFC ERGO two-wheeler insurance policyholders can easily renew their policies online using the HDFC ERGO General Insurance website. Policy renewal can be done using two different processes depending on the requirement of the customer. HDFC ERGO will also send a correspondence to customers intimating them about the impending renewal.Instant Renewal Process
The instant renewal process requires only the policy number to be provided and the existing two-wheeler insurance policy is renewed instantly. The customer gets an update on the spot.General Renewal Process
This is a slightly elaborate renewal process where the customer has to initially enter the existing policy number. After that customers will be able to view their two-wheeler policy details and understand how much premium they will be paying to renew their policies and what additional benefits would they be enjoying when they get the updated policy. After determining the premium and benefits, customers can pay the required premium for renewing the policy using their credit cards or via net banking. An updated pdf copy of the policy document is generated instantly for the perusal of the customer.
How to buy HDFC Ergo Two Wheeler Insurance online?
For enhanced convenience of customers, HDFC Ergo offers the facility of buying two wheeler insurance, online. Customers can easily buy a two wheeler insurance policy from HDFC Ergo by simply following a few easy steps. The process is quick and hassle-free, too. Now you can sit inside the comfort of your home/office and buy the best two wheeler insurance policies to protect your bike/scooter from any dangers and unforeseen circumstances. You just have to provide some basic information about yourself and the vehicle to be insured. The company’s online portal also provides you with the necessary means to calculate the premium amount, and pay online.
Once you have logged on to the company’s official portal, just choose the ‘buy insurance for new two wheeler’ option. Customers also get the option of renewing HDFC ERGO two wheeler insurance policies or renew their two wheeler insurance with the HDFC Ergo by transferring it from another insurer. Fill in all the details required in the form, correctly, and choose additional covers (i.e if you want any). This will be followed by you providing your correct contact details to calculate the premium amount, and accepting the terms and conditions of the policy. Once the calculation is done, the final amount to be paid will be reflected on your computer/laptop screen. To proceed with the transaction, just click on ‘buy’, and choose any mode of payment, according to your convenience, using your debit card/credit card (both Visa and MasterCard are accepted) or Net Banking. Once the payment process has been completed with the help of secured payment gateway, you have successfully bought your two wheeler insurance policy. A new policy is generated instantly from HDFC ERGO as a PDF copy.
HDFC Ergo Bike Insurance FAQs
- How long is the HDFC ERGO Two Wheeler Insurance policy valid?
The policy is valid for 12 months from the policy start date. If you’re renewing the insurance, make sure it is done well in advance (at least 10 days before expiration) to ensure continuity in cover and to avoid inspection charges.
- What is IDV(Insured Declared Value)?
The IDV is a fixed value of the two wheeler which is ascertained during the policy commencement by the insurance company. It is deemed as “Sum Insured” and for all practical purposes, this will the value of the vehicle after depreciation. A fixed percentage of depreciation is deducted from the IDV every year before commencement of the policy term.
- How much is the sum assured under the Personal Accident Cover option for the two wheeler insurance provided by HDFC ERGO?
The company provides a cover of up to Rs.1 lakh which covers both the rider and their pillion.
- Are there different insurance policies available from HDFC ERGO for Motorcycles?
The company provides both Liability Only and Comprehensive cover for two wheelers. The former covers liability arising out of damage/loss to third party person/property caused by the insured vehicle whilst the latter covers damage/loss to both third party and insured vehicle along with the occupants.
- I was reading the fine print of my HDFC ERGO insurance policy and came across the term “Total Loss”. What does it mean?
It refers to extent of damage to your two wheeler due to an accident where the costs of repair and replacements amounts to more than 75% of the Insured Declared Value(IDV), provided in the policy.
- How does the claims process work? My motorcycle was damaged in an accident?
Firstly, contact the claims center on 1800-2-700-700 at the earliest to register a claim. If the accident involved damage or injury to a third person/property, a copy of the FIR is a must. After initiating the claim, take the two wheeler to the nearest garage if it requires repair. A Surveyor representing HDFC ERGO will visit the garage to take a stock of the damages.
The cost of repairs will be directly settled by the company if they were carried out at a network garage. You can claim a reimbursement if the repair work was done at a non-network garage.
- I am excited with the features of HDFC ERGO Two wheeler insurance policy. Can I switch over from another insurer?
Yes, you can. You can renew motor insurance policies issued by a different insurer that allows you to switch over. This option is available on the web portal.
- What is a Cover Note?
It is a document issued by HDFC ERGO which acts as documentary proof during registration of the vehicle. Insurance is mandatory for registration and the cover note certifies issuance of the insurance which is later replaced by the actual insurance policy.
- Is there a discount on the premium provided by this insurer based on the age of the owner?
Yes. A discount of 5% is provided if the age of the insured is between 36 to 45 years and 10% if it lies between 46 to 60 years. This discount is provided on the Own Damage Section.
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