HDFC ERGO Two Wheeler Insurance
Nearly 1.5 lakh people lose their lives every year due to road accidents in India. To ensure the safety of the citizens, it is made mandatory for all the vehicle owners to have motor insurance in India. HDFC ERGO General Insurance Company offers motor insurance policies for both commercial and private vehicles. If you own a bike or scooter, then HDFC ERGO two wheeler insurance policy is recommended for you to enjoy a hassle-free bike riding experience.Read more
Why Choose HDFC ERGO Two Wheeler Insurance?
Here are some of the key features of HDFC ERGO two wheeler insurance that make it worth the buy:
- Paperless documentation
- Discount on premium up to 70%
- No Limits on Claim
- Round the clock customer support available over a call and email
- Accredited with ‘iAAA’ rating by ICRA based on their claim paying ability
- Transparency in claim settlement procedure and policies
- Approval within 24 hours of the damaged vehicle reaching the workshop
- Easy to download insurance document online on the payment of premium
Types of HDFC ERGO Two Wheeler Insurance Plans with Inclusions
HDFC ERGO Comprehensive Two-wheeler Insurance Inclusions
It protects from unforeseen liabilities that may arise from any loss or damage caused to a third-party person or property from your vehicle. It includes-
- Financial liabilities arising due to third-party death or injuries resulting due to an accident or collision with your two-wheeler.
- Personal accident cover up to Rs. 1 lac in case of disability, and death of the owner due to an accident
- Coverage against third-party property damages caused by your vehicle
Comprehensive Insurance Plan
In this type of HDFC ERGO two wheeler insurance policy own damages are covered. It includes the physical damage and financial loss arising due to an accident or collision. Majorly it recompenses-
- Loss or damage resulting due to an accident
- Theft of the insured vehicle
- Fire and Explosion Cover
- Damage resulting due to natural calamities
- Personal Accident Cover of Rs. 15 lakhs
1. Standalone Motor Own Damage HDFC ERGO two wheeler insurance: This type of policy is designed for those who want to buy a standalone cover for their own damages for their bike or scooter. Anyone holding a third party bike insurance that is valid for at least a year can buy this type of policy. Coverage is provided for:
- Fire & Explosion
- Natural Calamities
2. Long-Term Comprehensive Insurance: This type of two-wheeler insurance policy is designed to protect your ride for five years. The risks covered include accident, calamity, theft, fire, explosion and personal accident cover of Rs. 15 lakh.
Compare two wheeler insurance plans online at Policy Bazaar to get the best deal on a bike insurance policy.
HDFC ERGO Two Wheeler Insurance Add-on Covers
It is always a good idea to enhance your protection with these add-on covers that you can buy with a comprehensive two-wheeler insurance policy. Pamper your vehicle and stay protected by opting for these add-on covers. Extra premium is required to be paid to avail these add-on benefits:
1. Emergency Roadside Assistance Service
Immediate help will be provided to you in case your bike breaks down due to an accident or technical issues. Round the clock road assistance is provided so that you can enjoy your peace of mind.
It also includes emergency fuel delivery, tyre replacement cover, emergency accommodation in the event of a break down, towing to the nearest workshop, small repairs on the spot, etc.
Round-the-clock assistance is offered in case your two-wheeler breaks down. The services include loss of key assistance, minor repairs, duplicate key assistance, towing assistance, tyre change, fuel tank emptying and battery jump start.
2. Zero Depreciation Cover
Usually, a bike insurance claim is paid after deducting the depreciation value of the vehicle parts. Zero-depreciation cover means that you will be paid the entire amount without any deductions. For instance, if your bike is damaged and the claim amount is Rs. 10,000and the depreciation value is Rs. 2,000 then you will receive only Rs. 8,000 as compensation. With this additional benefit, the insurer will pay you the complete amount. Except for the battery and tyres, depreciation on parts is not calculated for claims arising due to partial losses.
How is Sum Insured Calculated?
- IDV or the Insured Declared Value is the amount of sum insured that is provided by the insurer in case the two-wheeler is damaged or stolen. Simply put, it is the current market value of the two-wheeler, on which the HDFC ERGO two wheeler insurance premium is calculated at the time of two wheeler insurance policy purchase or renewal.
- IDV of a bike with fitted accessories is calculated on the basis of the price listed by the manufacturer. On the basis of the vehicle age, depreciation is adjusted in the insurance premium. It is only valid for claims arising out of the total loss of the vehicle.
Applicable Depreciation for Fixing the IDV of the Insured Two-Wheeler
|Depreciation Value (%)
|Up to 6 months
|6 months to 1 Year
|1 to 2 Years
|2 to 3 Years
|3 to 4 Years
|4 to 5 Years
HDFC ERGO Two Wheeler Insurance No-Claim-Bonus
No-claim-bonus is the discount that the insurer offers on the premium if the policyholder has not made a claim during the policy term. NCB is accrued to the insured’s account and can be availed at the time of renewing the policy. It is a reward for keeping a good driving record and avoiding accidents-
NCB Applicable on own damage premium during a policy period –
|2 consecutive years
|3 consecutive years
|4 consecutive years
|5 consecutive years
HDFC ERGO Two wheeler Insurance Renewal
It is an easy and hassle-free process of HDFC ERGO Two Wheeler Insurance renewal online. For insurance renewal the insured can call at HDC ERGO’s toll-free number and one of their representatives will offer the desired assistance. Below are some of steps for online renewal-
- Provide your vehicle insurance policy details to renew HDFC ERGO two wheeler insurance online
- Select the add-on covers to enhance protection
- Submit the details to get an idea of HDFCERGO bike insurance renewal premium
- Once the payment is done, your two wheeler insurance policy will be renewed
HDFC ERGO Two wheeler Insurance Exclusions
There are exclusions added to the policy:
- Loss or damage outside India
- Failure or mechanical breakdown
- Damage caused while driving without a license
- General wear and tear of the two-wheeler
- Damage by a person driving under the influence of alcohol or drugs
- Any consequential losses
- Claims arising due to contractual liabilities
- Any damage or loss resulting due to war like conditions and nuclear radiations
Please refer to policy wordings to know more about limitations under HDFC ERGO Two wheeler Insurance Plan.
HDFC ERGO Bike insurance Claim Procedure
HDFC ERGO two wheeler insurance claim process is as follows-
For smooth processing of HDFC ERGO two wheeler insurance online claims following information is required -
- NEFT details in the claim form
- A cancelled cheque
- For claims more than Rs.1 lakh, you need to submit KYC details.
- A photocopy of KYC documents is also required - Driving License, Aadhaar Card, Voter ID, Passport, etc.
HDFC ERGO 2 wheeler insurance Cashless Claim Procedure in the Network Garages-
- Call at their toll-free number to get the contact number of the nearest network garage
- If it possible drive the damaged two-wheeler or get it towed to the nearest workshop
- The surveyor will assess all the damages caused to your vehicle
- Fill all the required information in the claim form
- Submit all the related documents
- The insurer will send updates about the claim status through email and SMS
- Once the damage is repaired, you need to settle the bills. Pay off the depreciation value, compulsory deductibles, etc. to the workshop and take your vehicle home. The insurer will directly settle the balance amount with the network garage
- The claims computation sheet will be provided to you with the entire break up for your future records
Reimbursement Claim Procedure
- Intimate a claim at their helpline number or through their Mobile App
- The claim form needs to be duly filled with all the required information
- All the documents need to be provided to the insurer
- The claim will be processed once all the documents are received
- All the damages or losses will be assessed by the surveyor
- The status of the claim will be updated through SMS/Emails
- Payment can be made through NEFT or by a Cheque
- The insurer will provide you will the claims computation sheet with an entire break up for your future records
Some important points to remember while filing a claim for your HDFC ERGO two wheeler insurance policy-
- In the event of theft, bodily injuries, property damages, and other major damage, it is required to submit the copy of Police FIR
- In case of major damages, report the incident before the damaged vehicle is removed from the spot. It allows the insurance provider to arrange for spot inspection of the damage.
- In the event of a strike, riots, third-party damages and damage due to malicious activity, it is essential to immediately inform about the incident at the nearest police station
Documents required when filing a claim with HDFC ERGO Two-wheeler insurance
To file a claim for accidental damages you need to submit the following documents-
- Copy of the Driving License and Registration Book
- Claim Form
- Copy of your HDFC ERGO bike insurance policy
- Police FIR copy
- Estimate of repairs
HDFC ERGO Two-wheeler insurance - FAQs
Ans:There are two types of two wheeler insurance policies that you can buy -
- Comprehensive insurance policy – It covers accidental loss or damage including theft. It also covers third-party liabilities.
- Third-Party Liability Insurance - It only covers risk towards third-party injuries, death and property damages
Ans: If you buy only a third-party liability insurance plan, it will only cover the damage caused to a third-party and not your two-wheeler. That is why a comprehensive two-wheeler insurance policy covers the loss and damage that is caused to your two-wheeler. You can also buy a 3-year plan and enjoy your ride without any worries.
Ans: The process of issuing HDFC 2 wheeler insurance online is a quick and hassle-free process. Once the payment is made, you can download the policy immediately. Furthermore, your HDFC ERGO 2 wheeler insurance policy will also be sent to your registered email ID.
Ans: You can opt for one year policy period and also for a 3-year policy. There are special benefits that you ca avail on purchase of a 3-year plan.
Ans: You can earn a discount with No-claim-bonus for all the years that you have not made claims. If you are a member of the Automobile Association of India then also you are eligible for a discount.
Ans: The right way to check the status of the policy is from the corporate website. Login into your website with user ID and password, and right-click on the policy number and get the details of the status of it.
Ans: If you sell your two-wheeler, you need to send a written intimation needs to the insurer. Here’s a rundown of the things that you need to do-
- Cancelling the existing policy
- Transferring the ownership in the name of the new buyer
- If the new owner already has an insurance policy, then you can ask for a refund of the insurance premium. The refund amount will be on a pro-rata basis.
- Request to reserve the No-Claim-Bonus. You can use it in your next two-wheeler insurance policy up to 3 years of selling.
Q8. What is an endorsement document and how can I make changes to my HDFC ERGO two wheeler insurance policy?Ans:The entire request for changes and corrections related to your vehicle details, any change in the date of registration, changes in personal details or financier details are made in the endorsement document.
Ans: You need to provide a written notice of 7 days for the cancellation to the company in writing. The steps are as follows-
- Intimate about cancellation over email or phone
- The intimation should be given in writing within 7 days
- If you have purchased a new policy from a different insurer, provide documentary evidence of the same through mail or fax
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HDFC ERGO Two Wheeler Insurance Reviews & Ratings
^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.
^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.
#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.
*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)
#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.
*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis