Liberty Bike Insurance

Liberty bike insurance is a comprehensive two-wheeler insurance policy covering a wide array of misfortune events, including accidents and thefts. The policy offers protection against liabilities arising out of third-party issues and against other expenses that one may incur as a vehicle owner. Read more

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Liberty Bike Insurance Policy - Key Features

Categories Key Features
Two-Wheeler Network Garages 4300+
Claim Settlement Ratio (CSR) 98%
Customer Assistance Available 24x7
Personal Accident (PA) Cover Up to ₹ 15 Lakh

*Disclaimer: The above table highlighting the key features of Liberty's bike insurance policy is for reference purposes only. To know the exact features, kindly refer to the policy wordings provided by the insurer.

Why Choose Liberty Bike Insurance Policy?

Liberty bike insurance policy hosts attractive features, making it an ideal choice for two-wheeler owners. Here are the reasons to choose bike policy by Liberty General Insurance:

  • Cashless claim settlement service at more than 4,300 authorized network garages available nationwide.
  • Get valuable add-on covers besides the traditional plans and enhance the policy coverage.
  • Get roadside assistance if an accident happens in the middle of the journey.
  • Issuance of bike insurance online in just a few clicks with zero paperwork.
  • Hassle-free inspection by the surveyor is performed during the preparation of the assessment report.
  • During renewals, get an NCB discount on the own-damage bike insurance premium.

Types of Liberty Bike Insurance Policy

Liberty General Insurance Limited is India's popular general insurance company. It is a joint venture between Liberty Citystate Holdings PTE Ltd, Enam Securities and DP Jindal Group.

The company offers two types of two-wheeler insurance policies. Both policies provide comprehensive coverage for various risks associated with two-wheeler ownership, but their choice depends on the desired policy term and renewal convenience. Let's understand both of them in detail:

  1. Two-Wheeler Annual Policy

    This comprehensive bike insurance policy is valid for one year and requires annual renewal. It covers damage to the insured bike resulting from accidents. It also covers loss or damage arising from natural or manmade causes, such as earthquakes, floods, hurricanes, storms, cyclones, typhoons, fires, lightning, self-ignition, explosions, theft, housebreak strikes, or riots.

    Additionally, it covers the injury or death of third parties and any damage to their property caused in a road accident by the insured bike. By paying an extra premium, additional coverage can protect electrical and non-electrical parts of the two-wheeler and personal accident cover for named or unnamed passengers other than the rider.

  2. Two-Wheeler Multi-Year Policy

    This comprehensive bike insurance policy extends coverage for two or three years, and the premium is paid in a lump sum for the entire policy term. The main objective of getting this policy is to reduce the risk of policy lapse by removing the hassle of yearly policy renewals.

    The policy covers the loss or damage to the insured vehicle and its accessories due to:

    • Fire, explosion, self-ignition, lightning
    • Burglary, housebreaking, theft
    • Riot, strike
    • Natural events like earthquakes, floods, typhoons, hurricanes, storms, inundation, cyclones, hailstorms, frost
    • Accidental external means, malicious acts, terrorist activity
    • Transit damage by road, rail, inland waterway, lift, elevator, or air
    • Landslide/rockslide

    Moreover, it covers third-party liabilities, which include:

    • Liability for death or bodily injury to any third person and property damage. It is commonly known as third-party bike insurance policy.
    • Costs and expenses incurred with written consent.
    • Coverage for any driver authorized by the insured.
    • Indemnity for the personal representative of a deceased person covered by the policy.
    • Option for representation at legal proceedings and defence in court if necessary.

Liberty Bike Insurance Policy Coverage

  • Inclusions
  • Exclusions

Here are the inclusions of the Liberty bike insurance policy:

  • ✅Loss or damage due to natural calamities or a disaster like thunder, lightning, earthquake, etc.
  • ✅Any loss or damage caused by manmade calamities or consequential events such as robbery, theft, insurgency, strike, or malevolent act.
  • ✅Any loss or damage caused to a third party, person, or property by the insured bike.
  • ✅Loss or damage caused by accidents, theft, and fire.
  • ✅Any damage in transit by road, rail, inland waterway, lift, elevator, or air.
  • ✅The repairing cost shall be covered under the plan benefit; however, it is subject to authorization by the insurer.

Here are the exclusions of the Liberty bike insurance policy:

  • ❌Any accidental loss, damage, and/or liability caused, sustained, or incurred outside the specified geographical area.
  • ❌Claims arising out of any contractual liabilities.
  • ❌Accidental loss, damage, and/or liability arising when the insured bike was not used in a manner that does not comply with the limitation of using it.
  • ❌Loss or damage arises when the insured bike is driven by or is to be driven by anyone other than the one mentioned or described in the driver's clause.
  • ❌Any liability arises directly or indirectly by ionizing radiation or contamination from radioactive materials, including nuclear fuel or nuclear waste from the combustion of nuclear fuel or nuclear weapons material.
  • ❌Any loss or damage caused by war, invasion, acts of foreign enemies, hostilities, or warlike operations.
  • ❌Any loss or damage sustained in the insured bike under the influence of alcohol or drugs.

*Disclaimer: The coverage of the United India bike insurance policy includes general inclusions and exclusions. Refer to the policy wordings to understand the exact coverage.

Depreciation Rates Applicable to Bike's Parts

The table below explains the nature of expenses along with the rate of depreciation applicable to it:

Nature of Expenses % of Depreciation
For parts which are made of rubber/nylon/plastic parts, tyres, tubes, batteries and airbags 50% depreciation
Parts which are made of fiberglass components 30% depreciation
Rest any other parts which are made of glass Nil depreciation

Depreciation Rates Based on the Age of Bike

Here is a scheduled rate of depreciation depending on the age of the vehicle:

Age of Vehicle % of Depreciation
Should be less than 6 months 0%
In between 6 months to 1 year 5%
In between 1 year to 2 years 10%
In between 2 to 3 years 15%
In between 3 to 4 years 25%
In between 4 to 5 years 35%
In between 5 to 10 years 40%
Should be more than 10 years 50%

*Disclaimer: The depreciation rates provided in both tables are for reference purposes. Kindly refer to the terms and conditions of the policy wordings for depreciation rates.

Personal Accident Cover for Two-Wheeler Owners

Liberty General Insurance Company offers complete peace of mind for bike owners by offering personal accident coverage in the event of death or bodily injury. The compensation ratio is derived per the schedule mentioned in the plan offer documents. The personal accident cover is offered up to ₹ 15 Lakh.

Here is the compensation scale offered by the insurer for varied nature of injuries:

  • 100% compensation in case of accidental death.
  • 100% compensation in case of loss of both limbs or eyesight or 1-limb and 1-eyesight:
  • 100% compensation in case of permanent total disabilities.
  • 50% compensation in case of loss of 1-limb or 1-eyesight.

Things to Keep in Mind While Buying a Personal Accident Cover

When selecting a Personal Accident (PA) cover, it's crucial to be aware of the policy's limitations and exclusions:

  1. Compensation is available for only one condition as listed in the policy details. The total compensation cannot exceed ₹15 lakh within a single insurance period.
  2. The PA claims related to intentional self-harm, suicide, pre-existing physical defects or infirmities, and accidents occurring under the influence of drugs or alcohol are not entertained.

How to Buy/Renew Liberty Bike Insurance Online?

Buying or renewing your Liberty bike insurance policy with Policybazaar.com is quite simple. Follow these simple steps:

  • Step 1: Visit Policybazaar.com, navigate to the 'Insurance Products' section and select 'Bike Insurance'.
  • Step 2: Input your bike number and click 'View Prices'. If you don't have the bike number, select 'Bought a New Bike' to proceed.
  • Step 3: Provide essential information about your bike, including model, variant, city, RTO, and manufacturer, then click 'View Plans'.
  • Step 4: Select the Liberty bike insurance plan from the options provided.
  • Step 5: Choose between third-party or comprehensive coverage depending on your need and budget.
  • Step 6: Enhance your base policy with add-on covers like pillion rider cover, zero dep cover, NCB protection cover, etc.
  • Step 7: Pay the premium using your preferred payment method (credit/debit card, UPI, or net banking). A copy of your policy will be sent to your registered email address.

How to File a Claim with Liberty Bike Insurance Policy?

Understanding how to file a claim under your Liberty bike insurance policy will help you get assistance during times of need. Here are three different scenarios explained for raising claims to get adequate support:

  1. For Theft Claim

    Follow the below procedure for raising theft claim:

    • Report the theft case at the nearest police station and obtain an FIR.
    • Provide the FIR to your insurance provider.
    • A surveyor assessment will be conducted to assess the situation.
    • Next, inform or notify your local RTO about the theft.
    • Collect and submit all necessary documents.
    • If your bike remains untraceable for over a month, provide a police 'untraceable report' for settling claims.
  2. For Accident Claim

    Follow the below procedure for raising accidental claim:

    • Notify the insurance provider about the accident and fill out the claim form on their website.
    • The insurer will appoint a surveyor to inspect the damage and generate an assessment report accordingly.
    • Provide all required documents to process your claim.
    • For repair and settlement, you can choose either a cashless or reimbursement settlement process.
    • For the cashless process, repair your bike at a network garage, and the insurer will directly settle the claim with the insurer.
    • For the reimbursement process, repair it at nearby local garages, pay the bill upfront, submit the bills to the insurer, and later, the insurer will reimburse the bill amount.
  3. For Third-Party Claim

    Follow the below procedure for raising third-party claim:

    • Inform your insurer about the accident.
    • Submit the court summons to your insurance company.
    • Fill out, sign the claim form, and submit it.
    • Provide the mandatory documents to the insurer.
    • The case will go under adjudication by the Tribunal court.

Documents Required for Raising Liberty Bike Insurance Claims

Ensure you have the following documents ready for different types of bike insurance claims:

  1. For Theft Claims

    Here is a set of documents required for a successful claim settlement in the case of a stolen bike:

    • Signed claim form
    • RC copy of the vehicle with original keys
    • Driving License (DL)
    • Original bike insurance policy
    • FIR with a detailed theft report
    • 'No-trace report' from the local police
  2. For Accident Claim

    Here is a set of documents required for successful claim settlement in case of accidental damages:

    • Signed claim form
    • Original RC copy of the vehicle
    • Original DL of the vehicle owner
    • Copy of the first two pages of the bike insurance policy
    • Motor Collision Report (MCR) or FIR
    • Original repair estimate
    • Original repair invoice and payment receipt (for non-network garages)
  3. For Third-Party Claim

    Here is a set of documents required for successful claim settlement in case of third-party claims:

    • Signed claim form
    • Police FIR
    • Original Driving License
    • Original two-wheeler insurance policy
    • RC copy of the bike
    • Company-registered vehicle documents, if applicable

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Liberty Two-Wheeler Insurance - FAQs

  • Q. How many modes of payment of premiums are available for buying Liberty two-wheeler insurance?

    Ans: You can pay online using a debit/credit card, UPI, internet banking, or cash at the branch office.
  • Q. How can I check the policy status for Liberty's two-wheeler insurance?

    Ans: If you have purchased Liberty bike insurance online from Policybazaar.com, you can get the status by logging into your account via your registered mobile number or email ID.
  • Q. What are the add-ons available with Liberty bike insurance?

    Ans: The Liberty bike insurance policy comes with valuable add-on covers, such as zero-dep coverage, personal accident coverage, roadside assistance coverage, consumables coverage, etc.
  • Q. What are the different discounts available while paying Liberty bike insurance premiums?

    Ans: The company offers discounts on bike insurance policies, such as the No Claim Bonus (NCB), installing anti-theft devices, and discounts for joining Automobile Associations in India.
Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
Average Rating
(Based on 33 Reviews)

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Liberty Bike Insurance Reviews & Ratings

4.7 / 5 (Based on 33 Reviews)
(Showing Newest 10 reviews)
Prakhar
Vadodara, August 18, 2021
Instant updates
I bought Liberty Two wheeler insurance policy from policy bazaar.i liked this policy for their features and benefits.company giving the cashless claim at more than 600 network garages and hassle free documentation. they keep on giving prompt update to their customers that is why i chose it.
Anurag
Rajendra Nagar, June 04, 2021
Easy to renew
I recently renewed my two wheeler insurance policy from the website of the policybazaar. It was the plan of liberty two wheeler insurance and I really like it and thats why I want to renew and continue with it.
Neeraj
Pune, June 04, 2021
Discounts available
It is one of the easiest way to buy a liberty two wheeler insurance plan online. I had bought the plan online from policybazaar and even got a huge discount. It was quick and hassle free.
Subhash
Partapgarh, June 04, 2021
Bought plan of my choice
I had bought the liberty two wheeler insurance plan of my choice and I really love it. I had checked various plans into the website of policybazaar and found the suitable one. Thank you team.
Anmol
Jabalpur, February 10, 2021
Multiple Plans
I have been using Policybazaar for a couple of years to insurance my Bajaj Pulsar bike. They offer multiple policies with lower premiums. I have been renewing my Liberty two wheeler insurance policy every year at Policybazaar and I am satisfied with their services. I will again renew my policy with them and advise you too.
Gautam
Idar, February 10, 2021
Low Premiums
I purchased a new Honda Splendor bike last month and was looking to buy insurance policy for my bike. I decide to check Policybazaar on my friend’s idea. They had so many affordable insurance plans with a variety of coverage. I bought my Liberty two wheeler insurance policy for an affordable premium online. I recommend it to everybody.
Balendra
Padampur, February 10, 2021
Best Buy
I recently purchased my Liberty two wheeler insurance policy for my Honda Activa scooty from Policybazaar. They had a lot of insurance options and I chose this plan because it was affordable and had my choice of coverage. I bought the policy within a few minutes. The website is great to buy the best insurance policy.
Kavi
K.singpur, July 06, 2020
Benefits
I got great number of benefits from policybazaar after getting my bike insurance done. It was really an awesome thing.
Shahid
Vadali, July 03, 2020
Customer service
The customer service team is very nice and generous. They understood the need of my type of insurance and shared the same with me.
Jagriti
S.c. Pur, July 02, 2020
Great comparison
Before buying the insurance I compared it with different sites. I searched a lot and I found that I can get the best premium policy from policybazaar only.

^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 is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial).The list of insurers mentioned are arranged according to the alphabetical order of the names of insurers respectively.Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in