Home Business Insights & Advice Which is the best bike insurance policy?

Which is the best bike insurance policy?

by Sponsored Content
21st Nov 18 11:17 am

In India, bike has become one of the most easy and convenient modes of transport, considering the heavy traffic and the ever-increasing population. Almost each home in the country has access to a bike regardless of the financial situations. Bike is not only one of the most affordable modes of transport but also the fastest commuting options. It is compact, easy to ride and can cut through even heavy traffic jams, it provides ease of motion and lessens the traffic.

Though a bike is easy as well as fun to ride, each good is accompanied by a bad. Despite being a simple and convenient mode of everyday transport, it has its own cons of being prone to road accidents easily. Majority of the road accidents in the country are caused by bikes, leading to injuries, deaths and heavy monetary losses.

It is extremely important that each bike rider duly follows the traffic rule and also has applied for a valid bike insurance policy.  A bike insurance policy can be called as a safety kit that helps you in times of crisis. A bike insurance policy is a type of contract between the policyholder (insured) and the insurance company (insurer). Under a bike insurance policy, the insurance company assures to provide financial assistance to policy holder when the insured bike suffers any losses or damages due to accidents, thefts, natural calamities, man-made disasters and a so on. To get this monetary help from the insurance company, the policy holder has to pay some amount known as premium on a specified time intervals.

Mandatory Insurance under Motor Vehicles Act

Thus, to be protected from any unanticipated occurrences and receive timely help, it is extremely important for bike owners to invest in a bike insurance policy. Also, in India as per the provisions of the Motor Vehicles Act, it is mandatory for vehicle owners using public roads to have a third-party liability bike insurance policy.

A bike insurance policy is not merely a compulsion by law, but it has many other added advantages in case of loss and damage to the bike due unfortunate situations.

The insurance market in India is vast and many insurance companies offer various types of bike insurance policies with special benefits, additional covers and unique premium rates. Each insurance company has its own bike insurance policy features and benefits. Since there are so many renowned companies offering something alluring, it becomes difficult to choose the best bike insurance policy among the vast variety. However, since it is a matter of safety and assurance, a bike owner has to carefully analyze and invest in a profitable and trustworthy bike insurance policy.

Types of bike insurance policies offered

There are basically two types of bike insurance policies offered, third-party liability insurance and comprehensive insurance cover. However, several insurance companies offer the liability only policy with some added benefits like free services and special discounts. Such companies offer a helping hand in case of bike and accessories repair in case of accidents.

In India, there are a number of well-known insurance companies that offer some of the best bike insurance policies considering customer needs and budget. But, considering the multiplicity of insurers, selecting the best bike insurance policy that suits one’s needs as well as pockets, becomes a tough task.

But, don’t worry, here is the best bike insurance policy that provides all the benefits and also looks after your expenses. Yes, it is none other than TATA AIG Auto Secure.

TATA AIG Auto Secure (Tata AIG Bike Insurance Policy)

In India, Tata company is one of the most renowned and trusted companies for its exemplary services and products. When talking about insurance policies, the Tata AIG Bike Insurance Policy cannot be overlooked. It is one of the biggest and the most value insurance company’s in India and thus duly cares about the needs and requirements of the policyholders. It makes each and every effort to achieve good customer satisfaction, thus making it best insurance policy in the market. You can easily the customer care number mentioned on the website to resolve your issues.

TATA AIG Auto Secure is comprehensive policy. It offers a bike insurance policy with extensive coverage. It is specially formulated to cover third-party liability along with any kind of damage or loss caused to the insured vehicle. Thus, it provides an all-round coverage to the insured bike as well as the policy holder when an unfortunate and unanticipated situation arises.

With a unique set of features and benefits, the TATA AIG Auto Secure is takes a higher position and claims to be one of the best motor vehicle insurance policies in the market today.

The company offers a quick and hassle free claim settlement options through NEFT (National Electronic Funds Transfer).  Also, it values its policyholders and thus offers a unique facility of No Claim Bonus (NCB) along with installation of an anti-theft device, Automobile Association membership and more.

✓     About TATA AIG Auto Secure

Tata AIG launched the Auto Secure policy offering long term bike insurance to bike owners for their safety. It provides coverage for 2 to 3 years, depending on the customer’s requirement. But, this policy can be availed for bike that has not crossed the age of 5 years. In simple terms, you can avail the Auto Secure policy for a newly purchased bike, or for a bike that is less than 5 years old.

Having this bike insurance policy you can save considerable amounts of money on the premiums. It allows you to stay immune to the yearly alterations in the in insurance policy premium rates. Additionally, you will not have to bear the burden of burden of renewing the bike insurance policy every year.

It also offers a Non Claim Bonus (NCB) protection. It means that NCB does not get zero (nullified) when you make a claim, it rather gets lessened to lower slab rate. As such, you can make the most of the NCB benefits for the entire insurance policy term even when you’ve made a smaller claim amount in the policy period.

The Tata AIG Bike Insurance Policy covers the policyholder for the following:

–       Any loss or damage caused to the insured bike

–       Any Third Party Liability due to accident that leads to loss or damage to life and property of a third party.

–       It safeguards the insured bike from natural disasters (Act of God), theft/ robbery/ burglary, riots, and any sort of malicious damages/ losses.

–       It also offers a Personal accident cover the owner driver up to Rs. 1 lakh. Also, it provides a Personal accident cover to pillion riders for a sum insured of Rs.2 lakh.

–       Moreover, the policyholders can also choose to get insurance for the accessories or personalized electronic fittings with an add-on cover.

✓     Key Features of TATA AIG Auto Secure

Below mentioned are some key benefits of the bike insurance policy offered by Tata AIG that sets it apart and makes it the best bike insurance policy among others.

  • In times of accidents, the company offers a free pick up service of the insured vehicle. Also, it provides a six-month accident repair warranty in case of any damages.
  • There is also a provision of a direct and instant claim settlement option via the online website. It offers to settle the claims within a short span of 7 days
  • The company offers coverage of total as well as partial damage to the insure vehicle (whichever applicable) in times of road mishaps along with third-party liability cover.
  • The company also offers extra benefits on additional insurance covers such as return invoice, everyday cash allowances, repayment of depreciation, NCB protection and so on. Additionally, it also offers to compensate for the damage caused to personal things stored inside the insured vehicle in times of road accidents.
  • With the TATA AIG Auto secure, the bike insurance policyholder can avail maximum benefits from the special warranty provide by the company for accidental repairs.
  • The bike insurance policy by Tata AIG offers 5 additional covers that can be clubbed with the premium bike insurance policy. It includes the third-party property damage cover (liability only cover), the additional personal accident cover (offered to the bike owner and rider), the personal accident cover (for passengers), the emergency medical expenditure cover and the consumables cover. All these ad-on covers are offered are offered at extra premium charges thus should be chosen very carefully.
  • The bike insurance policy also comes with an advantage of free services across the cashless network garages in India.
  • To resolve all the issues related to policies or service, Bajaj’s customer service team provides.
  • It offers a long term and flexible bike insurance policy with unique discount benefits ranging up to 20%. Also, there is an additional accidental coverage offered for the pillion rider of Rs. 1 lakh.
  • This bike insurance policy provides financial assistance in case of loss or damage to the insured bike caused due to any natural calamities that are within our control such as earthquakes, floods, tsunamis, cyclones, and more. Man-made disasters are also covered such as viloent riots, terrorist activities, robbery and more.
  • It offers a simple and hassle-free online policy renewal facility.
  • The company offers an all day customer support service with quick assistance from a qualified and helpful team. You can call on the customer helpline number or log into the company’s official website in case of any issues regarding policy renewal and updates.
  • It is known for its fast and easy claims settlement facility.
  • The policyholder also receives regular SMS updates on the registered mobile number regarding the insured bikes claim status.
  • Claims can be filed directly without much hassle on the company’s official website. The company also assures to settle properly filed claims within seven days.
  • The company does not deduct any amount considering the Salvage value.

Tata AIG Bike Insurance Calculator

The Tata AIG Bike Insurance Calculator helps the customers to duly calculate the premium amount of the bike insurance policy they are wishing to avail. The factors that affect and decide the insurance premium of a particular bike insurance policy includes

  • The model and make of the bike
  • The year of manufacturing of the bike
  • The bike’s engine capacity and type
  • The policyholders age
  • The policyholder’s driving skills
  • The geographic location
  • NCB (Non Claim Bonus) facility

All in all a bike insurance calculator helps you to understand the different premium rates and saves your money to make a good choice. All you need to do is select ‘Two-wheeler Insurance’ and provide the required information for the calculations. Make sure you provide accurate details for getting a proper Quote. Then just click on ‘Get Quote’ and the premium will pop-up on your computer screen.

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