Bike Insurance in Chennai

A bike insurance plan is a contract between the insurance company and a bike owner. The insurance company provides financial coverage against crises like bike damages, theft, collision and third-party damages.

As per the Motor Vehicles Act 1988, it is mandatory for every bike owner, including electric vehicle owners, to have at least a third-party insurance policy in India.

There are mainly three types of bike insurance: third-party insurance, comprehensive insurance and standalone own-damage bike insurance. Bike owners can choose from these insurance types as per their requirements.

There are some common issues faced by the bike owners of Chennai, which make their bike-riding experience unpleasant and dangerous, too. Such as:

• Poor road infrastructure and design, such as blind spots, potholes and pedestrian crossings at road level, make it difficult for bike riders to navigate on the roads of Chennai.

• Prioritisation of car drivers while planning roads and negligence of motorists and pedestrians.

• Corruption in road construction and frequent diggings on roads lead to several accidents.

• People are negligent towards traffic rules and regulations, and the primary reason behind this lack of strict actions by law enforcement towards traffic offenders.

• Poor driving skills of people lead to vehicle crashes, resulting in vehicle damages and injuries to people.

Tata AIG provides three types of two-wheeler insurance that have their specific benefits and features included. Let us know about these insurances:

Tata AIG Third-Party Bike Insurance

Third-party bike insurance is a policy that provides coverage against financial liability arising due to third-party persons or property damage by the insured bike owner. Third-party insurance is mandated for every bike owner under the provisions of the Motor Vehicles Act.

It is beneficial insurance as it provides coverage not only for financial liability but also for legal liabilities towards third-party.

Tata AIG Standalone Own Damage Cover Bike Insurance

• Own damage cover bike insurance is a policy type that provides protection only to your insured bike/ two-wheeler in case of any damage or loss to it. The insurance compensates for the damages caused to your bike and provides financial assistance for repairs.

• It is a great insurance to take in addition to third-party insurance as it protects your vehicle.

• Included in Insurance	Not Included in Insurance
  Accidental Damages	Third-party Damages
  Man-made Damages	Riding without a valid licence
  Fire & Explosion	Drunk Riding Damages
  Theft or Malicious Acts	Outside Policy Terms
  Damage Beyond Repair	Mechanical/Electrical Breakdown
  Ideal For Bike owners who drive through accident-prone areas/roads and want protection for their vehicles.

  Tata AIG Comprehensive Bike Insurance

  Tata AIG comprehensive bike insurance policy provides extensive coverage against a wide range of damages, including damage from fire, theft, accidents or total loss damage. Moreover, this insurance provides financial protection against third-party liabilities and damages involving your bike.

  Included in Insurance	Not Included in Insurance
  Damage caused to bike due to theft, fire, accidents, natural disaster, man-made causes	Ordinary wear and tear due to usage
  Third-Party Liability	Damage caused due to driver/owner driving without wearing a helmet or valid licence
  Personal Accident Cover for Owner/Driver	Damage caused due to driver/owner’s negligence
  Add-ons for Extensive Coverage	Absence of add-on and covering specific damage
  Ideal For Anyone who wants extensive protection for their bike and themselves

Several factors affect the comprehensive bike insurance policy rates; these include

Make and Model of Bike: Your comprehensive bike insurance rates also depend on your bike model, type of fuel used and spare parts. Usually, premium and high-end bikes have higher premium rates than medium or lower-end bikes. Moreover, bikes which run on petrol incur less insurance rates than the diesel operated ones.

Registration Location: Bikes which are registered in metropolitan cities or areas with high traffic and accidents have higher insurance rates than bikes in cities or rural areas.

IDV of Bike: The Insured Declared Value or IDV in bike insurance is the maximum amount that your insurance company can pay you in case of a total loss of your bike; that includes theft and irreplaceable damages.

No Claim Bonus: NCB in comprehensive insurance is a reward for zero claims during a particular year. If you have accumulated NCB on your insurance and you renew your insurance timely, then you can receive a discount on your next bike insurance premium.

Manufacturing Year: The manufacturing year of your bike determines its age, which helps calculate its depreciation and IDV value, affecting your insurance premium.

Third-Party Bike Insurance Premium Rates

The third-party bike insurance cover of your policy is determined on the basis of your vehicle’s engine cubic capacity and according to the annual insurance premium rates declared by the Insurance Regulatory and Development Authority of India (IRDAI). Thus, it is advised to verify the current rates ascertaining your third-party insurance cover.

Here are some factors that you should keep in mind while choosing two-wheeler insurance in Chennai:

Coverage Provided: A bike insurance policy should provide coverage against third-party liabilities, cost of injuries sustained by third-party, damage/loss of property, etc. The more comprehensive the cover, the better the insurance.

Claim Settlement Process: Choose insurance from a reputed insurance provider that ensures a swifter claim settlement process with a high settlement ratio.

Premium Cost: Check for premium cost, which might fluctuate depending on factors like location, IDV, make & model.

Exclusions: Make a note of features that are not included in the insurance plan to avoid any conflict in future.

Add-Ons: Try to choose two-wheeler insurance that provides customisation and additional add-ons with their policy.

Time Efficient: Purchasing bike insurance online involves less paperwork, no standing in queues and a more straightforward insurance buying process.

Compare Easily: Buying insurance online provides you with the facility to compare premium rates, coverages, renewal policies, etc., in a few simple clicks. It helps you save cost and time.

Paperless Process: As you would be buying an insurance policy online, there is no paperwork required. You can easily download and store your insurance paper digitally. It is a great way to be eco-friendly and reduce the hassle of arranging physical copies of documents.

Better Coverage: With an online bike insurance policy, you get a better chance to browse and choose the best policy with a broader range of coverage.

Safe and Secure: The whole online process of buying insurance is safe and secure. All your details remain confidential, including your policy and payment information.

There is a lot of research that goes into deciding which bike insurance you should buy. At Tata AIG, we understand your concerns, and thus, you must know why you should get your bike insured with us:

High Claim Settlement: Record of high settlement ratio in the previous year. It is the result of our dedicated customer service and streamlined process for claim settlement.

Offers on Premium: With Tata AIG, you get great offers on your insurance premium with up to 75% discounts on buying two-wheeler insurance online.

Expert Service: The team of 650 claim experts provides you with assistance at every step.

Cashless Garages: Get cashless repairs for bike damages from our vast network of 7500 + garages.

A Tata Promise: The trust and promise of Tata that has been delivering to its customers for the past 20 years.

Depreciation Allowance: Also known as nil depreciation add-on, it helps by reimbursing the depreciation amount from your insurance claim amount.

Emergency Medical Expenses: With this add-on, you get reimbursement for your medical expenses and ambulance costs for the damages caused by the accident.

Additional Personal Accident Cover for Owner-Driver: This add-on safeguards you and your family in case of serious injuries or fatalities during an accident.

Roadside Assistance: With this add-on, you get roadside assistance to your location to take care of issues like flat tyres, dead batteries, mechanical or electrical repairs, etc.

Return to Invoice Cover: This add-on helps you get the invoice cost of your bike as reimbursement in case of theft or total damage.

With Tata AIG's online facility, you can easily buy new bike insurance or do bike insurance renewal with just a few simple clicks. Follow these steps to buy/ renew your bike insurance.

How to Buy New Bike Insurance

Step 1: Visit the official website of Tata AIG and click on the “Bike Insurance” page.

Step 2: Next, fill in your bike registration details and then click on “Get Price”.

Step 3: Now, the online bike insurance calculator will display your insurance policy price.

Step 4: Here, you will be displayed IDVs on the screen and you need to choose an IDV as per your needs.

Step 5: Now, you can see the price of your new bike insurance policy displayed on the screen.

Step 6: In the final step you need to pay for your insurance from any of the payment modes displayed. Once payment is done successfully you will get soft copies of your insurance on your registered email ID.

How to Renew Bike Insurance

Step 1: Go to the official website of Tata AIG and click on the “Bike Insurance” page.

Step 2: Now fill in your bike registration number and click on “Renew” for your existing bike insurance policy.

Step 3: Here, the online bike insurance calculator will display your insurance policy price.

Step 4: Next, you will see IDVs on the screen from where you can choose your IDV as per your requirements.

Step 5: Now, your No Claim Bonus (NCB) value for your past year will be displayed.

Step 6: Next, your bike insurance price will be displayed on the screen.

Step 7: The final step involves the payment of the bike insurance policy premium. Once you have paid for your premium you will get soft copies of your insurance on your registered email ID.

Reimbursement Bike Insurance Claims

Step 1: Connect with the Tata AIG contact person.

Step 2: Provide your registration number to register your claim with an insurance executive and get your damage repair assessment.

Step 3: The insurance executive will survey damages incurred to your vehicle before sending it to your preferred garage.

Step 4: Once damage repair is done, you need to provide the insurer with bills, receipts, policy documents and a certificate of registration for reimbursement.

Step 5: The company will disburse the claim amount after document verifications and necessary deductions.

Cashless Bike Insurance Claims

Step 1: Contact the Tata AIG insurance executive immediately after the incident (theft, damage or accident).

Step 2: Register your claim with the insurer within 48 hours of the incident. Provide your policy details and vehicle information.

Step 3: The insurance executive will survey damages incurred to your vehicle before proceeding further.

Step 4: Once the verification is done, the insurer will fulfil its duty and pay for all the expenses involving the insured bike.

Duly filled and signed claim documents.

Self-attested copy of your vehicle registration certificate

Driving licence of the person driving the vehicle during the accident

Copy of policy papers

Original bills of repair invoice, payment receipt, etc.

The original invoice for cashless claims

Tata AIG has a large number of network garages all over India. As our bike insurance policyholder, you can get cashless damage repairs in these garages for issues like flat tyres, mechanical and electrical repairs, battery repairs, etc.

You can locate the nearest network garage in your city by using the garage locator available on Tata AIG’s website. On this locator, you need to enter your city details and vehicle information, and you will be displayed the suitable network garage for you.