Fewer wheels doesn’t mean lesser care needed. Your two-wheeler takes you through longest of distances and the narrowest of streets, so why not return the love they deserve. We understand all the risks, and the protection required to keep your rides smooth and carefree.
At Tata AIG General Insurance Company Limited, don’t just get insured, get protected.
ADVT: TAGIC/WebApp/MR2W/Mar 17/06 Ver1/ All
Features and benefits of this plan
Loss of or damage to the vehicle insured: The Company will indemnify the Insured against loss or damage to the vehicle insured hereunder and/or its accessories whilst thereon I.by fire explosion self-ignition or lightning; II. by burglary housebreaking or theft; III. by riot and strike; IV. by earthquake (Fire and Shock Damage); V. by flood typhoon hurricane storm tempest inundation cyclone hailstorm frost; VI. by accidental external means; VII. by malicious act; VIII. by terrorist activity; IX. whilst in transit by road rail inland waterway lift elevator or air; X. by landslide rockslide.
Liability to third parties: Subject to the limits of liability as laid down in the schedule of the policy wording here to the Company will indemnify the insured in the event of an accident caused by or arising out of the use of the insured vehicle against all sums which the Insured shall become legally liable to pay in respect of (i) death of or bodily injury to any person including occupants carried in the insured vehicle (provided such occupants are not carried for hire or reward) but except so far as it is necessary to meet the requirements of Motor Vehicles Act, the Company shall not be liable where such death or injury arises out of and in the course of the employment of such person by the insured. (ii)damage to property other than property belonging to the insured or held in trust or in the custody or control of the insured.
Personal accident cover for owner-driver:
Tata AIG General Insurance Company Limited will pay for accidental death or bodily injury sustained by Owner - Driver of the vehicle. Please refer the policy wording for more details.
For complete list of detailed features and benefits, please refer policy wordings.
Add-ons to make this policy stronger
To give you and your vehicle extra protection
Third Party Property Damage cover will allow you to increase the maximum payable amount for third party property damage.
Additional Personal Accident Cover to Owner-Driver will let you raise the maximum payable amount for personal accident.
Personal Accident Cover to unnamed persons will allow you to raise the maximum payable amount for accident involving a passenger.
Emergency Medical Expenses will reimburse you for medical expenses incurred for bodily injury sustained by You in relation to the insured two-wheeler.
Consumable Cover will reimburse the cost of replacing/replenishing engine oil, nuts & bolts etc. arising from an accident.
Please Note - Add-ons are available at additional premium
For more details on Add-ons, please refer policy wordings.
Situations in which the policy won’t work
The policy does not apply if
consequential loss, depreciation, wear and tear, mechanical or electrical breakdown failures or breakages;
damage to Tyres and Tubes unless the vehicle is damaged at the same time in which case the liability of the Company shall be limited to 50% of the cost of replacement.
loss of or damage to accessories by burglary housebreaking or theft unless the vehicle is stolen at the same time; and
any accidental loss or damage suffered whilst the insured or any person driving the vehicle with the knowledge and consent of the insured is under the influence of intoxicating liquor or drugs.
Any accidental loss damage and/or liability caused sustained or incurred outside the Geographical Area.
Any claim arising out of any contractual liability.
any accidental loss damage and/or liability caused sustained or incurred whilst the vehicle insured herein is being used otherwise than in accordance with the Limitations as to Use or being driven by or is for the purpose of being driven by him/ her in the charge of any person other than a Driver as stated in the Driver’s Clause.
For more details on product features, terms/conditions and exclusions please refer to the policy wording.
Two Wheeler Insurance Policy
Two wheelers are the closest a man has come to surfing on the roads! Having said that, two wheelers also carry greater risks of mishaps simply because they are lighter than cars more exposed and tends to be treated like flying dragons. There is always that helmet, but you and your beloved bike need more than that. Youneed a bubble around you to keep you safe. Let’s call this bubble, Tata AIG General Insurance Company Limited (‘Tata AIG’) two wheeler insurance Policy.
A good bike ride is always a perfect idea to unwind and relax. Zipping through the roads with wind in your hair and a song in your mind, and you are instantly transported to a realm of happiness. But suddenly, all comes to screeching halt with one unpleasant incident ‘Accident.’ Not only will it damage your prized possession but will also burn a hole in your pocket.
You will not only have to spend for bringing back your prized possession back to all its glory, but you may also sometimes have to worry about paying for the injured person if the accident involved another biker.
But have no fear. There is a perfect solution for it, a Two-Wheeler Insurance Policy. Now, leave your worries to us and make your ride a safe and a happy one with Tata AIG’s Two-wheeler insurance policy.
Types of Two Wheeler Insurance
We put a lot of thought in insuring everything we own that is of value to us, e.g. Home, Travel, Health and what not. But when it comes to two wheeler insurance, we just go with the flow, without putting too much thought in it. We buy it, because, it’s mandatory and we end up buying any policy without knowing its coverage. But, have you thought about the benefits a two wheeler insurance can provide if chosen wisely?
To start with, there are two types of insurance policies available to choose from:
1. Liability Only Insurance Policy -
This is a mandatory policy as per Motor Vehicle Act. It covers the damages against property, bodily injury and death to a third party due to an accident caused by your two-wheeler. It also covers the owner of the insured vehicle against Personal Accident Cover.
2. Comprehensive Package Policy - Provides coverage in 3 categories:
- It covers the insured two-wheeler against accidental damage, theft, natural disasters, explosion, riots, etc.
- It covers the damages against third party property, bodily injury and death to the third party due to an accident caused by your two-wheeler
- It also covers the insured (owner driver) against accidental death or permanent/temporary disablement
Features of Tata AIG Auto Secure Two Wheeler Package Policy
While there are many products available in the market for two-wheeler insurance, it is imperative that one looks at not only the policy features, benefits but should also look at other factors such as company’s claim paying capability, service, claim settlement ratio and brand etc.
One of the leading two wheeler insurance providers in the market is Tata AIG and it offers Auto Secure for Two Wheeler Package Policy, a comprehensive package policy for two wheelers.
Tata group has a brand heritage and legacy in India and is known for its values and business ethics. Tata Sons partnered with American International Group (AIG), one of the leading global insurance companies in the world and has been providing wide range of insurance products to its customers.
Tata AIG Two Wheeler Insurance Covers
- Loss of or Damage to the Vehicle Insured
- Liability to Third Parties
- Personal Accident Cover for Owner-driver
Loss of or Damage to the Vehicle Insured
According to Bengaluru city police data as published by The Indian Express earlier this year, 16 two-wheelers are stolen in the city every single day. That is just one city we are talking about and not even the one with the highest two-wheeler population.
Tata AIG two-wheeler vehicle insurance policy also covers any damage that may occur to your bike, due to any or one of the following reasons -
- Natural disasters like cyclones, earthquakes etc
- Terrorist activity/ malicious act
- External accident
- By fire explosion: self-ignition/lightning
- Whilst in transit on the road, rail, waterway, lift or air
Now, as your bike grows old the value of its body-parts depreciates. Consider it the law of nature. Hence, the amount of cover granted to cover the damages is also subject to this depreciation.
|Subject to a deduction for depreciation at the rates mentioned below in respect of the parts replaced|
|For All Rubber/ Nylon/ Plastic Parts, tyres, tubes and batteries||50%|
|For Fibre glass components||30%|
|For All Parts made of Glass||Nil|
|AGE OF VEHICLE||% OF DEPRECIATION|
|Not exceeding 6 months||Nil|
|Exceeding 6 months but not exceeding 1 year||5%|
|Exceeding 1 year but not exceeding 2 years||10%|
|Exceeding 2 years but not exceeding 3 years||15%|
|Exceeding 3 years but not exceeding 4 years||25%|
|Exceeding 4 years but not exceeding 5 years||35%|
|Exceeding 5 years but not exceeding 10 years||40%|
|Exceeding 10 years||50%|
While on depreciation, let us understand IDV (Insured’s Declared Value). No, we are not trying to perplex you with jargons. IDV is the single most important basis of your vehicle insurance policy. In other words, how do you define the net worth of your vehicle? It cannot be a subjective calculation. Hence, IDV for any vehicle is the sum insured for the purpose of the policy and is adapted as the selling price listed by the manufacturer. It is specific to a particular brand/model.
The depreciation is as per the below schedule-
Age of the vehicle
% OF Depreciation for fixing IDV
Not exceeding 6 months
Exceeding 6 months but not exceeding 1 year
Exceeding 1 year but not exceeding 2 years
Exceeding 2 years but not exceeding 3 years
Exceeding 3 years but not exceeding 4 years
Exceeding 4 years but not exceeding 5 years
Liability to Third Parties
The road is really a tussle. No one would ever want to be in a situation where there is damage caused to someone else. But such things happen nonetheless. We are only human like they say. However, Indian law makes it mandatory for all vehicles on road to have a third-party insurance. That basically implies, that your insurance cover will take care of the following -
- Death or bodily injury to the third party
- Damage to the property belonging to the third party
Personal Accident Cover for Owner-driver
It covers the Insured against any accidental death or permanent/temporary total disablement. Apart from the base cover in case if insured want to opt for additional coverage’s the same can be opted by insured by paying an extra premium, the coverage he/she would get is up to 15 Lacs. The cover will trigger in case the insured meets with an accident while riding the two-wheeler which results in accidental death or dismemberment/disability. The compensation will be paid in accordance with the scale of compensation mentioned below.
|Natutre of Injury||Scale of Compensation|
|Loss of 2 limbs or sights of two eyes or one limb or sight of one eye||100%|
|Loss of one limb or sight of one eye||50%|
|Permanent total disablement from injuries other than name above||100%|
Tata AIG Add On's
Do these covers not suffice for you? No worries. Check out the add-ons the Company can offer and take your pick by paying an additional premium.
A way around depreciation, at last! Yes, if you opt for this, we shall gladly pay you the amount of depreciation deducted on the value of parts replaced under own damage claim.
Return to Invoice
Hypothetically, If you bought the vehicle for Rs 75,000 and got Rs 50,000 as part of the claim when the vehicle suffered total constructive loss/got stolen; we will reimburse the balance Rs 25,000 to you as long as your claim is admissible as per the 1st section described formerly. We will also reimburse the road tax and registration charges you incurred when you bought the vehicle.
However, the above is applicable only if the final police report of theft is provided to us and the covered two-wheeler is not imported.
We will cover cost of consumables required to be replaced/replenished arising from an accident to the insured vehicle. Consumable for the purpose of this cover shall include engine oil, gear box oil, lubricants, nut & bolt, screw, distilled water, grease, oil filter, bearings, washers, clip, break oil and items of similar nature excluding fuel.
However, we can do this only if you take the vehicle to an authorized service centre and also the claim is admissible under section I. If you on a random weekend decide to change the oil, we won’t be able to cover that. Because this need must arise as part of a damage claimed in section I.
Emergency Medical Expenses
Apart from covering your need for treatment arising out of an accident, we will also cover the reasonable emergency medical assistance including the ambulance charges both for you and the co-driver of the vehicle.
However, any injuries caused before the accident won’t be covered in this. Also, physiotherapy and psychosomatic disorders of any kind won’t be covered.
Additional Third-Party Property Damage Cover
Do you think you might need an additional third-party cover? We will not judge you. However, this cover is applicable to the property only and not the driver/occupant of the third-party vehicle.
Additional Personal Accident Cover to Owner Driver
Owing to the additional risk of accidents when it comes to two-wheelers, our vehicle insurance policy has been designed to provide additional cover for the registered owner of the vehicle, if opted for. The schedule is below-
The notice of claim must reach us within 7 days and all the documentation as mentioned in the vehicle insurance policy document is attached as supporting. We would like to reiterate here, that any attempt to suicide or driving under the influence of drugs/alcohol will not be an admissible claim.
Additional Personal Accident Cover to Unnamed Persons
Are you worried about the pillion/co-driver or any party in direct association with the insured vehicle? This add-on shall provide that much extra cover for them as well. The schedule remains the same as above.
However, this must be accompanied by your (registered owner’s) approval and must reach us within 7 days of the accident. The documentation required and as mentioned in the policy document, must also be produced.
Roads are as unpredictable as life itself. It is not you always, who could have saved a mishap from happening. And if you drive with that guilt on your chest, it will always weigh you down. Instead, take the smarter route and insure yourself. Tata AIG two-wheeler vehicle insurance supports you through this road-journey. Allow us to make it safe for you!
Purchase of Tata AIG General Insurance Company Limited products are purely on voluntary basis. The information provided is purely indicative in nature. The actual benefits are as described in the policy and will be subject to the policy terms, conditions, and exclusions. Insurance is Subject matter of solicitation. For more details on benefits, exclusions, limitations, terms & conditions please refer sales brochure/policy wordings carefully before concluding sale.
Add-on covers can only be purchased with base product and on payment of additional premium.