Two Wheeler Insurance Got Newly Launched by Liberty

12 Crores to be gathered as premium through the two wheeler product.  Liberty General Insurance has introduced a new product for the two-wheeler segment in the hope to net around Rs 12 crore in the current fiscal. The product aims to cover loss or damage to the insured vehicle, theft, personal accident of owner-driver or pillion rider and third party liability.

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  • Save up to 85% by comparing plans
    Save up to 85%# by comparing plans
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    20+ Insurers to choose from
  • 1.2 Crore+ Bike Insured
    1.2 Crore+ Bike Insured
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The target is to gather around Rs 12-crore as premium from this segment (two-wheeler) in this fiscal. This product would also be used as an entry point for selling other products to retail customers in personal accident and health insurance space.

The product has been tied up with an online portal facility, which has been provided to the intermediaries. Such a move is aimed at increasing the consumer reach.

The company which is a joint venture between India's Industries and US-based Liberty Mutual Insurance Group, had recorded a gross written premium of around Rs 108 crore in April-February period of the last financial year.
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^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