HDFC ERGO Bike Insurance Claim, Review, Plans, Premium Online Payment, and Frequently asked questions and many more.
Hdfc Ergo Bike Insurance :
About HDFC ERGO Bike Insurance :
HDFC Ergo is a general insurance company in India. The company was formed after the joint collaboration between HDFC Ltd. and ERGO International AG in the year 2002.
HDFC Ltd is known for India’s premier Housing Finance Institution, and the ERGO group is one of the leading insurance entities of Munich Re Group. The shareholdings of the company are divided in the ratio of 49% and 51% respectively.
The company has a big name among the private sector insurers. It holds an ISO certification since 2010. It offers a wide range of insurance products on the market ranging from Motor, Travel, Health, etc. It also offers customized products to its customers, such as Marine, Property, Personal Accident, and Liability Insurance, to the corporate sectors.
The company has set up its headquarter in Mumbai. It is operating with a total of 127 branches in 101 Indian cities. It works with an ethical approach and a high level of integrity towards providing the best service to its customers.
It not only offers excellent insurance products to corporate or private sectors but the rural area as well. The main focus of the company lies with the farmers. It provides cattle insurance and crop insurance policies to the rural farmers.
It is also working towards spreading awareness about the importance of insurance policies. The company conducts an HDFC ERGO Insurance Awareness Award Junior Quiz, among the school children.
HDFC Ergo Bike Insurance FAQs :
Why should I choose HDFC Ergo Bike insurance?
HDFC Ergo is a leading name in the insurance industry. It is working for so many years towards providing the best service to its customers. It has a claim settlement ratio of 96% for the FY 2018-19, which clearly states that it has a long list of satisfied customers.
Why do I need insurance for my bike when it’s not even a luxury bike?
Being safe and secure is a necessity for everyone, regardless of the fact that he is leading a normal life or a luxurious life. Bike insurance will help you to be financially secured. There might be a situation where a simple accident will burden you with unlimited liability.
Does HDFC Ergo it provide Zero Depreciation benefits?
Yes, the customers can get Zero Depreciation benefits by purchasing the HDFC Ergo Comprehensive Bike Insurance policy. The customers should purchase Zero dep add-on cowl to relish the advantages.
What plans are available for the HDFC ERGO Bike insurance policy?
There are four kinds of plans provided by the company. First, is a one-year Comprehensive set up, long-run Comprehensive Insurance, Standalone Motor Own DamageCover, and 2 Wheeler Liability solely Insurance.
How many branches does it have in India?
HDFC Ergo has the vision to produce bike insurance policies to individuals from all the arenas. It operates in a total of 101 offices in India. The branches are located in all the major states of the country like Maharashtra, Jammu, and Kashmir, Gujrat, Haryana, Punjab, West Bengal, etc.
HDFC ERGO Bike Insurance Contact Details
Email – email@example.com
Contact – 022-62346234/ 0120-62346234
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HDFC ERGO Third-Party Bike Insurance :
A third party bike insurance is the most basic insurance policy offered by HDFC Ergo General Insurance for bikes. As per the Indian Motor Tariff, a bike owner is mandatorily required to have at least a third party insurance policy. It insures the policyholder against all third party liabilities which may arise due to any mishap involving the insured’s bike.
HDFC Ergo Third Party bike Insurance vs Comprehensive bike Insurance Policy
What All is Covered Under HDFC Ergo Third Party bike Insurance Plan?
A third party bike insurance policy by HDFC Ergo provides coverage for the following:
- The plan provides coverage for death/bodily injuries incurred by a third party due to any mishap involving the insured’s bike. The amount of compensation in such cases is decided by a court of law.
- The plan also provides coverage for property damage incurred by a third party to an extent of Rs. 1 lakh.
HDFC Ergo Third Party bike Insurance FAQs :
Why should I buy Third Party bike insurance?
You should buy the Third Party bike insurance because the Indian Motor Tariff has made it mandatory for all bikes in India. The HDFC Ergo bike insurance will protect you against all third party liability.
What amount can be availed in case of any property damage to the third party?
In case of any property damage, the HDFC Ergo Third Party bike insurance policy will provide coverage up to Rs. 1 lakh.
Will my third party bike insurance cover all kinds of damages in every situation?
A third party bike insurance has some conditions when it comes to coverage. The policy does not provide coverage under these following circumstances-
- The accident occurred outside the geographical arena mentioned in the policy.
- The bike is driven by someone else other than the insured.
- Driving in an intoxicated state.
- Bike engaged in illegal practices
- Intentional damage etc.
Can I buy HDFC Ergo third party bike policy online?
Yes, you can buy an HDFC Ergo third party bike policy online. You can get the policy online from either HDFC Ergo General Insurance’s official website.
Can I stretch the coverage offered by HDFC Ergo Third Party bike Insurance?
Unfortunately, you cannot stretch the coverage offered by HDFC Ergo Third Party bike insurance. It will only provide for third party liability. For extensive coverage, you can opt for the HDFC Ergo Comprehensive bike insurance policy.
Hdfc Ergo Comprehensive Bike Insurance Policy
HDFC ERGO Comprehensive Two-Wheeler Insurance Policy :
HDFC ERGO Comprehensive bike Insurance policy is a package policy that insures your bike against third party liabilities as well as own-damages incurred by it.
Thus, the comprehensive bike insurance policy offered by HDFC Ergo General Insurance provides overall protection to the policyholder for his/her bike.
What All is Covered Under HDFC ERGO Comprehensive bike Insurance Plan?
HDFC ERGO Comprehensive bike Insurance does not keep the policyholders limited with the coverage. Under comprehensive insurance policy can get both ‘Own Damage’ and ‘Third-party’ coverage. It protects the policyholders against the following:
- All third party liabilities – bodily injury, death, and property damage (up to Rs. 1 lakh), arising out of an accident/mishap caused by the insured’s bike.
- Own-damage incurred by the insured’s bike in the following scenarios:
- Road accidents
- During travel by road, rail, water or air, Natural calamities like earthquake, floods, etc
- Man-made disasters like riots, strikes, etc
What All is Not Included Under HDFC Ergo Comprehensive bike Insurance?
HDFC ERGO Comprehensive bike Insurance does not provide coverage for the following:
- Depreciation- The comprehensive bike insurance policy by HDFC Ergo does not cover the expenses of normal wear and tear taking place on the bike.
- Electrical and Mechanical Breakdown- any kind of electrical or mechanical breakdown remains uncovered in this cover.
- Illegal practices- Your bike insurance becomes invalid if the damage is caused when the insured was traveling without a license, or in an intoxicated state or in any activity against the law.
HDFC ERGO Comprehensive bike Insurance Benefits :
HDFC ERGO offers many exquisite benefits for its bike insurance policyholders such as:
- Hassle-free driving experience with a peace of mind
- Cashless claim facility at over 6,800 network garages
- 24 hours availability of customer support service with an instant solution to all the user problems
- The hassle-free claim settlement process
- Attractive add-on covers so that policyholders can enjoy extensive coverage.
HDFC ERGO Comprehensive bike Insurance FAQs :
What is the add-on covers offered with HDFC ERGO Comprehensive bike Insurance policy?
All add-on covers such as Zero depreciation cover, No Claim Bonus Protection, Emergency Assistance Cover, Return to Invoice, Engine & Gear Box Protector, Key Replacement cover, Cost of Consumable Items, etc. can be availed with the HDFC Ergo comprehensive bike Insurance policy.
Can I transfer from my current insurance plan to the comprehensive insurance plan at the time of renewal?
You can easily transfer to a comprehensive plan from your current policy. Go to the official website of HDFC Ergo bike insurance and click on the ‘Renew Existing HDFC ERGO’ option. They will ask for your current policy number or the registered mobile number. After providing the details, you can proceed for renewal. At this stage, you can either choose your existing policy or opt for the comprehensive plan.
I have lost my bike keys. What should I do?
If you have the Emergency Assistance cover added to your HDFC Ergo Comprehensive bike insurance policy, you don’t need to bother much. You can dial the toll-free number 022 6234 6234 and inform them. You will be provided with a spare key shortly. You can replace or make a new key and the insurer will cover the expenses.
How can I purchase the HDFC Ergo Comprehensive bike insurance policy?
You can purchase the HDFC Ergo Comprehensive bike insurance policy in the three following ways-
Visit the nearest branch Give a call at their toll-free number 022 6234 6234. Visit the official web site of HDFC Ergo General Insurance.
Hdfc Ergo Zero Depreciation Add-on :
HDFC ERGO Zero Depreciation Cover
Over time, the value of an asset reduces. The decrease in the monetary value of an asset over time is known as depreciation. Like other assets, a bike is also subject to depreciation. By default, the liability to bear the cost of depreciation incurred by a bike lies with the vehicle’s owner and not the insurance company. Thus, at the time of a claim, the insurer deducts the depreciation expenses incurred by the bike from the claim amount. However, a policyholder can shift this liability of bearing the cost of depreciation to the insurer by opting for a zero depreciation add-on cover.
The HDFC Ergo Zero Depreciation can be availed with the HDFC Comprehensive bike insurance policy as well as with the HDFC Standalone Own-damage cover for bikes.
Benefits of HDFC ERGO Zero Depreciation Cover
You can enjoy the following benefits with zero depreciation cover offered by HDFC Ergo General Insurance.
- Helps you get full claim amount- If you opt for this add-on cover, no depreciation expense will be deducted by the insurer at the time of claim settlement and you get the full claim amount.
- Unlimited Number of Zero Depreciation Claims Allowed – Most insurance companies allow 2 claims under the zero depreciation add-on, however, HDFC Ergo General Insurance allows its policyholders to make an unlimited number of claims under the zero depreciation add-on cover.
HDFC Ergo Zero Depreciation Cover Conditions :
There are certain conditions set by the insurer to avail of the zero depreciation cover.
- You can opt for the zero depreciation add-on only if the bike you are insuring is not more than 5 years old.
- You cannot avail of zero depreciation cover if the bike is completely damaged or stolen.
HDFC Ergo Zero Depreciation Cover FAQs :
How many times can I claim under the zero depreciation cover of HDFC Ergo’s comprehensive policy?
HDFC Ergo General Insurance allows its customers to make unlimited claims against a zero depreciation cover.
Is it wise to take a zero depreciation cover?
A zero depreciation cover helps you to save a lot of money that you have to bear for the normal wear and tear of the bike. Moreover, when you make a claim, the insurance company will reimburse the claim amount without any deduction for depreciation.
The insurer compensates for repair or replacement of bike parts made of plastic, rubber, fiberglass, and nylon without any depreciation charge. Hence, the purchase of a zero depreciation cover is definitely a wise decision.
When can I buy zero depreciation add on?
You can buy the HDFC zero depreciation cover at the time of buying/renewing an HDFC Comprehensive bike insurance policy and HDFC Standalone Own-damage cover for bikes.
Does the HDFC Ergo Zero Depreciation cover the total loss?
No, the HDFC Ergo Zero Depreciation does not provide coverage for the total loss of the bikes. This policy does not include the case of total damage as well.
Can I avail Zero Depreciation coverage for rubber and plastic parts?
Yes, you can avail Zero Depreciation cover for the rubber and plastic parts of your bike. The insurer will bear the expense of repairing and replacing the parts made of rubber and plastics. Without the Zero Depreciation added to your policy, you will have to pay 50% as a depreciation charge for rubber and plastic parts.
HDFC ERGO Bike Insurance Claim :
HDFC Ergo has a great record of settling claims made by its policyholders. In FY 2018-19, it featured an impressive claim settlement ratio of 83.66%. The insurance underwriter conjointly provides day-and-night client help so the policyholders will create hassle-free claims for his or her bike.
List of Documents Required During Claim Settlement
Following documents are required at the time of making a claim:
- Duly filled and signed claim form
- Registration Certificate (RC)
- Driving license at the time of the accident
- Policy copy
- Estimated actual repair, receipts for payment of non-cash claims and repair receipts
- Original repair invoice for cashless claims.
How To Make a Cashless Claim?
You can make a cashless claim for your bike with HDFC Ergo by following the below steps:
Step 1: Contact HDFC Ergo and Register a Claim
Get in touch with HDFC General Insurance and share all the necessary details like location, time, etc of the mishap/accident involving your bike and register a claim. You can either call their toll-free number 022-6234-6234/0120-62346234 or can visit their website to intimate and register a claim.
Step 2: Survey and Repair
After the registration of the claim, the insurer will send a surveyor to you to check the extent of the damages incurred by the bike in the mishap.
Step 3: Towing Service and Repairs
Tow your bike to the nearest garage authorized by HDFC General Insurance. You can also request the insurer to arrange for the towing service.
Step 4: Claim Settlement
The insurer will pay for the repair expenses at the garage apart from the deductibles. After this, you can take your bike home.
How To Make a Reimbursement Claim?
A reimbursement claim is made when the policyholder fails to take the insured bike to a garage authorized by the insurer and instead opts to get it repaired somewhere else. The process of placing a reimbursement claim is as follows:
Step 1: Contact the HDFC ERGO and Register a Claim
Contact HDFC General Insurance and share all the necessary details like location, time, etc of the mishap/accident involving your bike and register a claim. You can either call their toll-free number 022-6234-6234/0120-62346234 or can visit their website to intimate and register a claim.
Step 2: Get Survey of the bike done
The company will send a surveyor to check the condition of the bike before it is sent for repairs.
Step 3: Repair and Reimbursement
You can now take your bike to your desired garage and make the payment without any worry. After that, you need to submit all the documents asked by the company along with the bills and receipts to make the request for the reimbursement claim. Only after taking into account all the deductibles and depreciation amount the company finally disburse the amount.
Claim Rejection Reasons
There are certain conditions that the policyholder needs to fulfill when applying for a claim. There are some grounds on which claim on the insurance policy can be rejected such as
- Registration of a fraud claim
- Misinterpretation of facts
- Driving without a license or under influence of alcohol/drugs
- Lack of details required to process the claim
- Delay in intimation about the mishap to the insurer
- Act of negligence
HDFC Ergo Bike Insurance Claim FAQs
How am I able to register my claim for HDFC Ergo bike insurance?
You can register a claim for your HDFC Ergo bike insurance simply by vocation 022-62346234 or 0120-62346234.
Do I need to file an FIR after an accident for claiming the insurance?
Yes, filing an FIR at the nearest police station is mandatory in case of an accident. A copy of FIR serves a very important document for claiming the HDFC Ergo bike insurance.
Is the insurance claim process time-consuming?
No, the insurance claim process is not time-consuming as the insurer tries to process the claim at the earliest. Policyholders are advised to inform the insurer immediately about any incident or accident to avoid delays in the claim settlement process.
How can I check the updates on my claim?
The insurer will keep you updated with every step of the claim process by sending you messages on the mobile number registered with the policy. You can get the updates via mail as well.
HDFC Ergo Insurance Company has more than 6,800 cashless garages all over India where the policyholders can avail cashless service. You can search for your nearest HDFC Ergo cashless garage.
Hdfc Ergo Bike Insurance Renewal :
HDFC Ergo bike insurance provides the policyholders with extensive coverage against the losses incurred due to accidents, theft, and other mishaps. The tenure of bike insurance from HDFC Ergo ranges from 1 year to 5 years.
When you are nearing the end of the validity period of your bike insurance policy, you have to renew the existing policy in order to continue enjoying the insurance benefits. Renewal of HDFC Ergo bike insurance can be done at the end of the policy tenure or even after the expiry of the existing insurance policy.
HDFC Ergo Bike Insurance Renewal – Online Process
HDFC Ergo offers a simplified online renewal process for insurance policies. The process is as below:
Step 1: Visit HDFC Ergo General Insurance’s official website
Visit the official website of HDFC Ergo General Insurance and click on the “renew” option. Then select bike/scooter insurance from the list to proceed with the renewal of your bike insurance.
Step 2: Fill in the Policy Details
As you enter the policy number, the “View Policy Details” page opens up. There you will need to fill all the necessary details such as name, policy number, etc. After going through the details confirm that it’s your policy that you want to renew.
Step 3: Make the Payment for Renewal
This serves as the last step of the renewal of the policy. You need to make the final payment through their payment gateway using a debit card or credit card. You can use net-banking as well to make the payment.
HDFC Ergo Bike Insurance Renewal – Offline Process
You can renew your bike insurance by calling their toll-free number 022-6234-6234 or 0120-6234-6234. You can also visit your nearest HDFC ERGO branch to renew your policy offline.
Benefits of Renewing Bike Insurance with HDFC Ergo Bike Insurance
- Retention of No Claim Bonus
- Round-the-clock emergency assistance
- Availability of a variety of add-on covers.
HDFC Ergo Bike Insurance Renewal FAQs
Can I renew my policy if I don’t have the policy number?
Yes. If you don’t have the policy number, you can renew the policy by entering the registered mobile number or e-mail address in the renew section of the official website of HDFC Ergo General Insurance. If the details of your policy are shown, you can confirm and proceed to renew the bike insurance.
Can I modify my policy at the time of renewal?
Yes, you can modify your existing policy during the process of renewal. You can extend the coverage of your bike insurance policy by adding the add-on covers to the existing policy.
What documents are needed to renew my policy?
In both the case of the online and offline process of renewal of the HDFC Ergo bike insurance policy, you just need to provide your policy number. There is no paperwork or documentation involved in this process.
Can I renew my policy before it expires or do I need to wait until the expiry date?
It is recommended that you renew your HDFC Ergo bike insurance before the expiry. However, HDFC Ergo allows the renewal of your existing policy even till 90 days after expiry.
Can I get a No claim Bonus during the renewal of my insurance policy?
A policyholder can avail No claim Bonus if he/she has not made any claim during the tenure. So, if you have not made any claim with the insurer, you can opt for No claim Bonus at the time of renewal of your HDFC Ergo bike insurance policy.
HDFC ERGO Bike Wheeler Insurance Premium Calculator
What is a Bike Insurance Premium Calculator?
A bike insurance premium calculator is an online instrument designed to help you find the correct amount of premium for the HDFC ERGO bike insurance plan. To get the accurate premium cost, you are required to fill up some basic details such as the make of your bike, a model of your bike, RTO location of your bike, registration year of your bike, etc.
Upon entering these details, the calculator will display the right premium amount of your bike insurance policy.
How to Use a Bike Insurance Premium Calculator?
Step 1: Choose the Make, Model, Variant, and Fuel Type of your bike.
Step 2: Choose the City of Registration and Year of Purchase of your bike.
Step 3: Tell us, if you have made any claim request in the previous policy term.
Step 4: Click on the ‘Calculate’ button and get the right IDV and premium for your bike insurance plan.
Benefits of Two Wheeler Insurance Premium Calculator
- Correct Insured Declared Value (IDV) – The bike insurance premium calculator helps you find the correct and appropriate IDV as per the make, model, and age of your bike. The right IDV shows you the real market value of your bike that you can get as compensation from the insurance company in the event of theft or total loss.
- Right Premium Amount – The main objective of this bike insurance calculator is to find the right premium amount for your bike insurance plan. With the right premium amount offered under different policies, you can compare and choose the best-priced policy for your bike.
- For Better Decision Making – With the help of a premium calculator, you can compare the bike insurance policy quotes of different insurance providers. After going through them, you can make the right buying decisions without any hassle.
- Select Affordable Deals – The accurate premium costs of various bike insurance plans calculated with this calculator can help you make easy comparisons to choose the most relevant and cost-efficient bike insurance policy quotes available in the market.
The premium for Comprehensive and Standalone Own-Damage Bike Insurance Plans
Several factors determine the cost of the premium for standalone own-damage and comprehensive bike insurance policies such as make, model, and the variant of the bike, age of the bike owner, his or her profession and driving history, age of the bike, fuel type of the bike, registration location of the bike, cubic capacity of the engine, etc.
Following are some key factors that can influence the premium of your bike insurance policy computed through premium calculator:
Factors Which Determine Two Wheeler Insurance Premium :
- Insured Declared Value (IDV) – The Insured Declared Value of the bike is the amount that the insurer pays off to the owner of the bike in case of theft or total loss. Therefore, the higher the IDV will be, the higher will be the premium.
- Engine’s Cubic Capacity – The cubic capacity of the engine of the bike also affects the premium amount. The bike with higher cubic capacity consumes more consumables, thus, charged with a higher premium for its insurance policy.
- No Claim Bonus (NCB) – The No Claim Bonus (NCB) is the discount, generally ranges from 20% up to 50%, that a policyholder is entitled to receive for not making any claim in the previous policy year and get its policy premium reduced.
- Anti-Theft Devices – The anti-theft devices installed in the bike reduces the possibility of theft, which lessens the risk for the insurance providers. Hence, bikes with anti-theft devices are charged with a lower amount of premium.
- Age of the Owner – The age of the owner of the bike affects the bike insurance premium too. It is assumed that an older age individual will drive the bike more responsibly than a younger rider. Hence, the former is charged with a lower premium than the latter.
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