Bike Insurance in Chennai

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Bike Insurance in Chennai

Chennai has a large number of bikes and two-wheelers, and the city also faces several incidents of road accidents and fatalities related to motorists. In such a situation, buying bike insurance in Chennai becomes crucial for bike owners to stay insured and save themselves and their vehicles from any damage.

But how can you choose the best bike insurance as per your requirements? Here in this article, you will learn about bike insurance, how to choose one, features to look out for and the claim process.

All About Bike Insurance in Chennai and Why You Need One

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.

Problems Faced by Bike Owners in Chennai

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 Bike Insurance Chennai

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.

Included in Insurance   Not Included in Insurance 
Third-Party Liability Theft or Fire Damage
Third-Party Property Damage Own Damage
Legal Expenses Personal Injury to Owner/Rider
Personal Accident Cover  Add-ons and Optional Cover
Ideal For The policy covers liabilities against third-party damages only. Anyone who only wants protection against such damages should buy this policy; for added benefits, consider other Tata AIG policies, too. 

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

Best Bike Insurance in Chennai: Third-Party vs Standalone Own Damage vs Comprehensive Bike Insurance

Parameters  Third-Party Bike Insurance Standalone Own Damage Insurance Comprehensive Bike Insurance
Coverage Third-party bike insurance provides coverage for third-party damages and liabilities incurred due to your insured bike. Standalone own damage insurance provides coverage only for damages and losses incurred to your insured bike.  Comprehensive bike insurance covers damage to your bike, third-party liabilities and personal accident cover to the owner/driver.   
Add-ons No add-ons can be included in third-party insurance.  Add-ons can be included in standalone damage cover bike insurance. Comprehensive insurance includes various valuable add-ons.
Third-party Damage Legal and financial assistance for third-party damage is provided. Third-party damages are not covered. All third-party damages involving insured bikes are covered.
Which Insurance is Better? Although it provides limited coverage, the law mandates third-party bike insurance as a must-have. It provides protection only to the insured bike and does not include other crucial factors. Comprehensive bike insurance is extensive and provides overall protection. 

What is the Two-wheeler Insurance Rate in Chennai

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.

How to Choose the Best Bike Insurance in Chennai?

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.

Why You Should Choose Online Bike Insurance Policies

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.

Why Choose Tata AIG’s Two-wheeler Insurance in Chennai

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.

Key Features and Benefits of Tata AIG’s Bike Insurance in Chennai

Key Features and Benefits Details 
Savings on Premiums Bike owners can get up to 75% discounts on buying insurance online from Tata AIG
Easy Claim Procedure The dedicated team of claim experts helps with seamless claim procedures online
No Claim Bonus (NCB) Tata AIG offers NCB discount starting at 20% on your bike insurance premiums if you went claim-free the previous year
Third-Party Cover Tata AIG’s bike insurance policy protects you against third-party damages to property and person
Own Damage Cover for Bike Tata AIG’s comprehensive two-wheeler insurance provides own damage cover to your bike against accidents, natural or man-made causes
Unique Add-ons With our range of 8 unique add-ons, you get 360 protection 
Cashless Repairs and Reimbursement Get cashless repairs from any of ours wide network of 7500 + garages all across India
High Claim Settlement Ratio Tata AIG provides a high claim settlement ratio for your bike insurance claims
Easy Buying and Renewing Procedure Easy procedure for buying and renewing your bike insurance from our website

Best Bike Insurance Add-ons to Get in Chennai

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.

How to Buy and Apply for Bike Insurance Renewal in Chennai

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.

How to File a Claim for Two-Wheeler Insurance in Chennai with Tata AIG

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.

Documents Required for Bike Insurance Policy Claim in Chennai

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 Cashless Garages in Chennai

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.

Disclaimer / TnC

Your policy is subjected to terms and conditions & inclusions and exclusions mentioned in your policy wording. Please go through the documents carefully.

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Can I download bike insurance online?

Can I download bike insurance online?


Yes, you can download details of your bike insurance policy online from your insurance company’s official website.

How can I find bike insurance near me?


You can easily browse online and compare various bike insurance policies and choose the right one as per your requirements.