Liberty Two Wheeler Insurance

With the advancement in technology for a two-wheeler, the vulnerability of accidents has gone up as well. Thus a protection plan is a mandatory need for all those who use two-wheeler for various purposes. The scope of insurance plans also has to be at the same level, which can take care of any unfortunate loss or damage that might happen to the vehicle. For this very purpose, Liberty Two wheeler insurance plan is the most apposite solution to be prepared for such situations and eventualities.  Liberty offers a comprehensive two wheeler insurance cover covering a wide array of any misfortune events. The two-wheeler insurance Plans offers protection against liabilities that could arise out of third-party issues as well as against other expenses that one may incur as a vehicle owner.

This insurance policy cover includes motorcycles, bikes, scooters, mopeds, auto-cycles and mechanically-assisted pedal cycles. Any individual, corporate owner, as well as the financier of the vehicle in India, can avail this comprehensive two wheeler insurance policy.

Features and benefits of the Liberty Two Wheeler Insurance Plans

  • Cashless claim service at more than 615 network garages.
    • Simple documentation and unperturbed inspection process in the plan.
    • All Claim settlement is done within 7 working days, as compared to 10-15 days time for other plans in the market.
    • Portability of No Claim Bonus for any existing plan availed by any other insurer.
    • An assortment of add-on protection cover plans to choose beside the traditional plans
    • 24x7 helpline and other customer service assistance for all queries related and claim processing.
    • Hassle-free inspection & cashless claim service.
    • Compensation in case of a partial or total loss to the vehicle arising out of accident or theft.
    • Protection Cover against third party damage and third party bodily injury.
    • Discount on renewal (NCB) for claim free experience
    • Swift telephonic service for effective claims support & assistance even on Sundays & holidays all available on a toll-free number.
    • Vehicle relocation to the nearest garage in case of a major breakdown.
    • Lost key assistance
      • State of the art online platform offering manifold services for quick and easy purchase or renewal of plans.

Benefits covered under the Liberty Bike Insurance Plans

Liberty offers comprehensive coverage for two-wheeler plans, for the below-mentioned cases.

  • Loss or damage due to natural calamities or a disaster like thunder, lightning, earthquake is covered
  • Any loss of damage done due to manmade calamities or any consequential event such as robbery, theft, insurgency, strike, malevolent act, any damage in transit by road, rail, inland waterway, lift, elevator or air are duly covered in the plan as well.
  • The repairing cost shall be covered under the plan benefit; however, is subject to authorization by the insurer.
    • The maximum amount of repairing expenses should be Rs. 150/-
    • Prior to repairing the two-wheeler, the detailed estimate of the cost has to be submitted to the insurer.
    • It is anticipated from the plan holder to give the insurer every backing to authenticate the requirement of repair and the charges are rational.
  • Other Important extension covers are also available basis additional premium amount paid as per plan.
  • Loss/damage to electrical/non-electrical accessories.

Schedule of expenses as against the depreciation of parts.

The cost of the replacement shall be reimbursed as against the Components of the parts and depreciation ratio counted against 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 fibreglass components

30% depreciation

Rest any other parts which are made of glass

Nil depreciation

Schedule for Rate of depreciation as against the plan term

Age of Vehicle

% of Depreciation

Post issuance of the plan; however, not more than 6 months

0%

Post 6 months after plan issuance  but not later than 1 year

5%

Post 1 year after plan issuance but not later than 2 years

10%

Post 2 years after plan issuance but not later than 3 year

15%

Post 3 years after plan issuance but not later than 4 years

25%

Post 4 years after plan issuance but not later than 5 years

35%

Post  5 years after plan issuance but not later than 10 years

40%

Post  10 years after plan issuance

50%

Personal Accident Cover for Owner/Driver

The Liberty Two Wheeler Insurance Plan brings complete peace of mind for the owner-driver of the two-wheeler through its two-wheeler plan. The Bike Insurance Plan offers comprehensive coverage for personal accident coverage in the events of death or bodily injury. The ratio of compensation is derived as per the schedule mentioned in the plan offer documents. The personal accident cover is offered up to Rs. 15 Lakh.

No Claim Bonus in Liberty Two Wheeler Insurance plan

No Claim Bonus (NCB) paid as a direct discount on the premium of the own damage portion of the vehicle subjected to no claim has been made during the last plan period of one year and renewal of plan to a further term. The insured may avail a discount ranging from 20-50% on the own damage Premium and can be accrued up to a maximum limit of 50% on OD premium.

Apart from this, the customer may transfer the benefits of No claim bonus even if they migrate to any other insurance provider from Liberty General Insurance or vice-a-versa.

The benefit of no claim is derived basis the discount percentage as given below.

All Types of Vehicles

% of Discount on own Damage Premium

No claim made or pending during the preceding full year of insurance

20%

No claim made or pending during the preceding 2 consecutive years of insurance

25%

No claim made or pending during the preceding 3 consecutive years of insurance

35%

No claim made or pending during the preceding 4 consecutive years of insurance

45%

No claim made or pending during the preceding 5 consecutive years of insurance

50%

The process to Claim Liberty Two Wheeler Insurance Plans

In the event of any accident, loss or damage of the insured vehicle, the customer does have multiple channels to lodge his claim.

  • By visiting the nearest branch office. List of the nearest branch available on the website.
  • Dropping a mail Care[at]libertyvideocon[dot]com
  • By sending a written intimation letter to the registered office or the applicable branch office by post or courier

Basic details required to lodge a claim

  • Motor Insurance plan number
  • Name of Insured and contact details
  • Complete address where the loss or damage occurred
  • Complete address where the damaged vehicle is available for inspection
  • Registration number of the vehicle.
  • Name of the person who was driving vehicle at the time of damage and his driving license number ​OR in case of theft, name of the person in whose custody the vehicle was
  • Name of the police station to whom the loss or damage is notified
  • Your name, complete contact details and relationship with the Insured
  • A Brief description as to how the loss of / damage to the vehicle took place
  • Name/s of person/s who sustained bodily injury/injuries and/or died in the mishap​
  • Estimated loss amount, if you are aware
  • Details of loss minimization, if undertaken by insured

Documents required lodging a claim for Two Wheeler Insurance

  • In case of an accident
    • Claim Form duly filled and signed by Insured
    • Copy of Registration Certificate (RC) with the original for verification (in case of total theft, original RC needs to be surrendered)
    • Copy of driving license with the original for verification
    • Police First Information Report (where applicable)
    • Fire Brigade Report (in case of fire)
    • Original Repair/Replacement Bills (in case of Reimbursement Claim)
    • Photographs of the damaged vehicle
    • Subrogation & Power of Attorney in case of Total Loss
    • Discharge Voucher
  • In case of theft or robbery
    • Claim Form duly filled and signed by Insured
    • Copy of Registration Certificate (RC) with the original for verification (in case of total theft, original RC needs to be surrendered)
    • Copy of driving license with the original for verification
    • Police First Information Report (where applicable)
    • Fire Brigade Report (in case of fire)
    • Original Repair/Replacement Bills (in case of Reimbursement Claim)
    • Photographs of the damaged vehicle
    • NOC from f​financer in case of Total Loss and Theft
    • Subrogation & Power of Attorney in case of Total Loss
    • Discharge Voucher
    • The entire set of vehicle keys
    • Indemnity Bon
    • Mode of Payment of Claim
    • Under the plan, Provision for both Cashless & Non-Cashless reimbursements is provided. If the vehicle is repaired in a network garage, then the expense shall be directly paid to the garage subject to the total expense falling under the claim criteria. Any excess payment has to be paid by the customer to the garage.
    • In case the rep[air has been undertaken in any non-network garage, then customer has followed the reimbursement claim process as per the document list provided above and the claim amount shall be remitted directly to customer’s bank account within 7 working days timeline.
    • General Exclusions under the Liberty Bike Insurance Plans
    • The Liberty Two Wheeler plans shall not extend its benefit for below-mentioned cases,
    • For any loss or damage occurred outside the geographic area mentioned in the plan coverage, No claim shall be accepted.
    • No compensation shall be paid for any loss or damage which has happened as a direct or consequential effect of the contractual agreement.
    • No compensation shall be paid as per plan benefit in case the death or injury has occurred when the insurer is inebriated.
    • In the event of death or injury wherein, the driver is found driving the Vehicle without a valid driving license.
    • No separate claim shall be reimbursed for any Damage to tyres/ However, this exception shall not be applicable for cases where the insured two-wheeler is also damaged in the same accident.
    • The maximum quantum of compensation could be up to 50% of actual cost incurred towards a replacement of such
    • Self-inflicted injury or suicide or driving under the influence of narcotics, drugs or alcohol is not covered or even as a part of war or terrorism
    • Normal wear and tear of the vehicle and depreciation
    • Most Important Terms & conditions for Liberty Two Wheeler Insurance Plans
    • Any electrical and/or electronic equipment that is not factory-fitted with the vehicle can be covered under electrical accessories at an additional premium. The value of such accessories will be as declared by the insured at the invoice value.
      • Any non-electrical/non-electronic equipment that is not factory-fitted with the vehicle can be covered under non-electrical accessories at an additional premium of the invoice value (at Own Damage rate). The value of such accessories will be as declared by the insured at the invoice value of the plans.
      • Legal liability for paid driver implies that if you have hired a driver to drive your vehicle and he meets with an accident while driving it, then the insurance company will provide compensation for his injury/loss of life.
      • Insured's Declared Value shall be calculated at the current market value of vehicle & adjusting the manufacturer's current listed selling price of the vehicle with a depreciation percentage as mentioned in the plans.
      • The compensation towards personal accident plan be payable provided
    • The owner-driver is the registered owner of the vehicle insured
    • The owner-driver is the insured named in this plan.
    • The owner-driver holds an effective driving license, in accordance with the provisions of Rule 3 of the Central Motor Vehicles Rules, 1989, at the time of the accident.

Liberty Two Wheeler Insurance - FAQs

Written By: PolicyBazaar - Updated: 04 September 2020
Liberty Two Wheeler Insurance Reviews & Ratings
4.8 / 5 (Based on 26 Reviews)
(Showing Newest 15 reviews)
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.
Surya
Faizabad, July 01, 2020
Unique plans
The plans which are available in the website of policybazaar is very nice and it helped me to choose the best one for my bike.
Ananya
Aruppukkottai, June 30, 2020
Low premium
I got my insurance from policybazaar and before buying it I checked a lot. The premium rate was quote low and reasonable.
Savleen
Limdi, June 29, 2020
Cashless claim
I got the cashless claim from policybazaar. I am happy with the services of policybazaar. It was quick and hassle free.
Dakshat
Ahmednagar, June 29, 2020
Premium services
Recently, I purchased the two wheeler policy from policybazaar. They provided with the premium services.
Urvashi
Faridabad, June 21, 2020
Low premium good returns
I got a good plan for two wheeler. It is with less premium and better facilities.
Vidya
Abohar, June 21, 2020
Value for money
It is a great plan with value for money. Easy policy and everything is done in smoother way.
Dharmesh
Captainganj, June 21, 2020
Good policy
It is good policy with great plans, great discounts and less premium rates.
Manish
Chabhal, June 21, 2020
Social media available
The social media services of the company is quite nice and they are actively available for us. Whenever I feel need of them I just Tweet and all is done. They helped me a lot.
Farhan
Vaduj, June 20, 2020
Hassle free services
I would like to recommend this policybazaarto everyone who are planning to buy a insurance. A great place to get yourself insured.
Utkarsh
Vadnagar, June 20, 2020
Online renewal
The renewal process of policybazaar is very easy. You just have to go to the my account and select your policy and just renew it.
Emir
Vadnagar, June 20, 2020
Easy renewal
Being an old customer of policybazaar and getting a good services from them. I decided to renew my policy with them only. Thanks team.
Rajesh
Limdi, June 20, 2020
Trustworthy
The insurance company is very much trustworthy and I can rely on them. It has a good market reach.
Rishab
Rabkhavi, June 20, 2020
Transparency
While getting my two wheeler policy done. I am happy with one thing was transparency. They kept all things open and nothing was hidden.
Neysa
Campierganj, June 20, 2020
Brand name
Both the companies are good as per there name : Policybazaar as well as Liberty Insurance. I can rely on them.
Naitee
Bablabona, June 20, 2020
Discounts
The level of services which policybazaar and liberty insurance company are offering are super best. They gave me great discounts.
Mohan
Jagadhri, June 18, 2020
Sports bikes
I got the policy for my sports bike. I really love my bike and want to take good care of that.
Dharmesh
Raath, June 18, 2020
Best coverage
I purchased the policy from policybazaar.com and I got the good plan with great benefits.
Shivi
Jagadhri, June 18, 2020
Protection
The two wheeler plan helps in giving the protection against the liabilities that could arise out of third party.
Bhavin
K.b.p. Pupri, June 18, 2020
Great deals
I got a great deals and plans of two wheeler insurance from policybazaar. It was good to be associated with policybazaar and team.
Utkarsh
J. P. Nagar, June 18, 2020
Secure life
I purchased the two wheeler policy from policybazaar and it was very nice plan which safeguard me and my bike too.
Manish
Kadamtala, May 19, 2020
Safety
With the help of policybazaar you can get the safety of your bike. Which is really important nowadays.
Yamuna
Wadhwan, May 11, 2020
Liberty policy
I got my two wheeler insurance from policybazaar. And the insurer name is Liberty. It is a good company and I got good plans.
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