Bike Insurance in Faridabad

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Bike Insurance in Faridabad

Bike insurance in Faridabad, like in any other city, is an essential financial safeguard for motorcycle owners. Located in the northern Indian state of Haryana, Faridabad is a bustling industrial city with a rapidly growing population and traffic. With the increasing number of motorcycles on the roads, the need for bike insurance becomes even more critical.

By purchasing two-wheeler insurance online, riders in Faridabad can get financial help and peace of mind in the event of a road accident or similar bike-related situation.

If you're looking for bike insurance, read on to find out more.

All About Bike Insurance in Faridabad and Why You Need One

Bike insurance provides financial protection against unanticipated events such as accidents, theft, or car damage. Having a comprehensive bike insurance policy not only protects your investment but also secures your financial stability in the event of an accident on the road. It is important to remember that at least third-party bike insurance is mandatory regardless of the vehicle’s fuel type.

With the tremendous popularity of electric vehicles (EVs), insurance coverage for EV bikes and two-wheelers is becoming increasingly important. While EVs may offer environmental benefits and cost savings in the long run, they are still susceptible to accidents and theft.

Therefore, having adequate insurance coverage for your electric bike is essential to safeguard your investment and ensure that you're prepared for any unforeseen events.

Problems Faced by Bike Owners in Faridabad

Bike owners in Faridabad often encounter a multitude of on-road challenges that can make their commuting experience frustrating and sometimes even dangerous.

One of the most common difficulties is the condition of the roads. Faridabad, like many quickly rising towns in India, suffers from poorly maintained roads plagued with potholes and uneven surfaces, posing a continual threat to the safety of bikers and their automobiles.

Heavy traffic congestion during peak hours complicates things for bike users, making navigating through busy streets difficult. In addition to these problems, bikers have to deal with other road users' irregular driving behaviours, such as reckless driving and contempt for traffic rules can make communicating places difficult.

Tata AIG Insurance in Faridabad

Tata AIG two-wheeler insurance in Faridabad offers a range of bike insurance plans catering to the diverse needs of riders. From basic third-party coverage to comprehensive protection, each plan is designed to provide financial security and peace of mind on the roads.

Tata AIG Comprehensive Bike Insurance Policy

Tata AIG's Comprehensive Bike Insurance Policy provides substantial coverage for a wide range of hazards connected with owning and riding a two-wheeler. It provides coverage for damage caused by accidents, theft, natural disasters such as floods or earthquakes, fire, vandalism, and more.

Key inclusion and exclusion: It provides coverage for damages due to accidents, theft, natural calamities, and third-party liability. However, wear and tear, mechanical breakdown, racing, and consequential losses are not covered.

Ideal for: All drivers in Faridabad can benefit from this form of car insurance since unforeseen traffic jams and poor road conditions might result in expensive repair bills.

Standalone Third-Party Bike Insurance Policy

Having third-party bike insurance is legally required for every driver in the country. This bike insurance plan will resolve the costs if your vehicle ends up damaging someone else's property or causing harm to any third parties.

Key inclusion and exclusion: In the case of an accident, a third-party two-wheeler insurance policy will assist you if your car ends up injuring or damaging a third party's vehicle. However, this coverage does not provide the same protection for your bike. Policies from third parties do not cover theft or damage to the bike.

Ideal for: This kind of coverage is advantageous for drivers who own inexpensive two-wheelers and don't drive their bikes very often.

Standalone Own Damage Bike Insurance Policy

Own damage bike insurance safeguards your insured vehicle against financial loss or harm brought on by collisions or other mishaps.

Key inclusion and exclusion: It does provide financial safety against unfortunate situations on your bike caused by natural and man-made disasters like fires. However, Own Damage coverage does not cover third-party obligations.

Ideal for: Those who drive frequently to and from Faridabad accident-prone locations should ensure to opt for this plan.

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

Parameters Third-Party Bike Insurance Standalone Own Damage Insurance Comprehensive Bike Insurance
Coverage  Covers only third-party liabilities such as injury or damage to third-party property Covers damages to your own bike caused by accidents, theft, fire, etc. Offer coverage for both third-party liabilities and harms to your own bike.
Premiums Lower premiums due to limited coverage. Moderate premiums considering coverage for own damages. Higher premiums due to broader coverage and added benefits.
Mandatory requirements Mandatory by law in India. Not mandatory Not mandatory
Customisation options Limited customisation options as it offers standard coverage. More options for customisation to tailor coverage according to your needs. Extensive customisation options to suit individual requirements.
Add-ons availability  Limited add-ons available, mainly focused on increasing coverage limits. Additional add-ons are available for specific needs, such as roadside assistance, zero depreciation, etc. Wide range of add-ons available including engine protection, consumable cover, etc.
Claim settlement process Typically straightforward for third-party claims but can be lengthy for disputes. Generally quicker as it's focused on your own damages. It can be complex due to dual coverage but offers quicker settlement for own damages.
Availability in Faridabad  Easily available through various insurers and agents. Widely available through different insurers and agents. Readily available through various insurers and agents.

What is the Two Wheeler Insurance Rate in Faridabad

The two-wheeler insurance rates in Faridabad, as in any other location, are influenced by several factors.

Insured declared value (IDV): The insured declared value of the bike is one of the primary factors determining the insurance premium. IDV value of a bike represents the maximum sum insured by the insurer at the time of theft or total loss of the vehicle. Generally, the higher the IDV, the higher the premium.

Bike engine capacity: The two-wheeler's engine capacity has a big impact on the insurance premium. Since there is a greater chance of accidents and theft and the possibility of higher maintenance expenses, bikes with larger engine capacities typically have higher rates.

Bike model: The make and model of the bike also influence the insurance premium. Bikes with expensive parts or those that are deemed more prone to theft or accidents may have higher premiums. The availability of spare parts and the cost of certain repairs for specific models can affect insurance rates.

Location: The geographical location of the insured also plays an important role in resolving the insurance premium. Faridabad, like any other city, has its own set of risk factors, such as traffic density, crime rates, and prevalence of accidents. Areas with higher incidences of accidents or thefts may have higher insurance premiums.

Add-ons: The choice of add-on covers and the extent of coverage also impact the insurance premium. Additional covers such as depreciation allowance, roadside assistance, and personal accident cover add to the overall premium cost. While these add-ons enhance the protection offered by the policy, they also increase the premium amount.

Third-Party Bike Insurance Premium Rates

Third-party bike insurance premiums are a crucial aspect of the insurance landscape. This plays a pivotal role in ensuring financial protection for both riders and other parties involved in potential accidents.

(IRDAI) and other specific regulatory organisations supervise a methodical procedure that determines these premiums.

To determine fair and reasonable third-party insurance premium rates, the IRDAI considers a considers several variables such as frequency and severity of accidents, the expense of repairs and medical care, and the general risk profile related to two-wheeler ownership and use are examples of these factors.

How to Choose the Best Bike Insurance Policy in Faridabad?

Coverage options: One of the most important aspects to examine is the coverage given by the insurance policy. Look for a policy that provides comprehensive coverage for a variety of eventualities, including accidents, theft, natural disasters, and third-party liability.

Network of garages: Ensure to take a look at the insurer's network of garages in Faridabad, where you can get cashless repairs in the event of an accident. When it comes to getting your bike repaired, a larger network makes things easier and more accessible.

Add-on covers: Evaluate the add-on covers offered by the insurance company to enhance your policy's coverage. Add-ons like roadside assistance, zero depreciation and personal accident cover for passengers can provide additional protection for your bike.

Claim settlement ratio: The insurer's track record of settling claims is demonstrated by the claim settlement ratio. When the time comes to file a claim, choose an insurance firm with a high claim settlement ratio to guarantee a simple and easy procedure.

Why Should You Choose Online Bike Insurance Policies?

Online plans eliminate the need for physical visits to insurance offices or agents, saving valuable time and effort for Faridabad residents who lead busy lives. With just a few clicks, one can compare various policies, assess coverage options, and make informed decisions from the comfort of their home or office.

It allows for easy comparison of premiums and coverage benefits, enabling individuals to find the most suitable option that suits their budget without compromising on essential features.

Residents of Faridabad can avoid paperwork and lengthy documentation processes, as everything can be completed online with minimal paperwork involved. This streamlined approach not only saves time but also avoids the likelihood of errors or discrepancies in policy documentation.

Tata AIG's online platform offers convenient features such as instant policy renewal and round-the-clock customer support, ensuring prompt assistance whenever needed. Whether it's filing a claim or seeking clarification on policy terms, Faridabad residents can rely on our robust online infrastructure for efficient resolution of queries and concerns.

Why Choose Tata AIG Bike Insurance in Faridabad

When it comes to two-wheeler insurance in Faridabad, Tata AIG stands out for a number of compelling reasons. Their policies provide comprehensive coverage, protecting your bike from different road threats. Tata AIG offers hassle-free claim settlements, assuring rapid help in times of need.

Furthermore, its customer-centric strategy ensures that policyholders receive round-the-clock help and guidance, which increases overall satisfaction. With Tata AIG, you can also access a large network of cashless garages, making repairs quick and easy.

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

Key Features and Benefits Details
No claim bonus (NCB) Tata AIG provides NCB discounts on bike insurance premiums beginning at 20% for the claims-free the previous year.
Hassle-free claim process Experience a smooth claim process with the assistance of dedicated claim experts.
Third-party damage cover Tata AIG provides protection against damage to third-party property or individuals.
Cashless repairs and refunds Tata AIG offers cashless repairs for bike damage at any of its 7500+ network facilities throughout India.
Add-on benefits To add extra protection to your bike insurance, select from our 8 unique add-ons.

Best Bike Insurance Add-Ons to Get in Faridabad

Zero depreciation cover add-on: This add-on makes sure that you receive the full claim amount without accounting for depreciation. Standard insurance policies typically take depreciation on parts into account when settling claims, so you may receive a lower sum.

Roadside assistance add-on: Roadside assistance is a valuable add-on that gives assistance in the event of a breakdown, accident, or emergency while on the road. This service may include towing, gasoline delivery, battery jump-start, flat tyre assistance, and locksmith services.

Return to Invoice Cover: This is an excellent add-on to your bike insurance since it allows you to obtain the invoice cost or current market value of your bike in the event of theft or total damage.

Consumable Expense: By including this add-on to your bike insurance, we will compensate you for damage to bike consumables caused by accidents.

Other add-ons include Emergency Medical Expenses Cover, Additional Personal Accident Cover for the Owner-Driver and Additional Third-Party Property Damage Cover.

How to Buy and Apply for Bike Insurance Renewals in Faridabad?

You can purchase or renew your bike insurance coverage online by following these simple steps.

How to Buy New Bike Insurance

Step 1: Visit the Tata AIG website and select the “Bike insurance page”

Step 2: Enter your bike registration information and click "Get Price" for policy information.

Step 3: The online bike insurance calculator will appear with your bike insurance policy pricing as soon as the page loads.

Step 4: Next, IDVs will appear on the screen; select the IDV that is appropriate for you.

Step 5: Following that, you will be shown your bike insurance premium information.

Step 6: Lastly, you must pay your premium amount using any online method of payment. When your payment is completed, you will obtain soft copies of your insurance via the registered email address.

How to Renew Bike Insurance

Step 1: Visit the website of Tata AIG and navigate the “Bike insurance page”

Step 2: Enter your bike registration information, then click "Renew" to renew your current insurance coverage.

Step 3: The online bike insurance calculator will then reflect your policy's pricing.

Step 4: Following that, you can view IDVs on the screen and select the appropriate IDV for your needs.

Step 5: You will see your prior year's No Claim Bonus (NCB) value.

Step 6: Your bike insurance premium amount will now be displayed.

Step 7: The last step is to pay your premium for bike insurance renewal in Faridabad. You can select any payment method, and upon successful payment, you will obtain soft copies of your insurance paperwork.

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

Reimbursement Bike Insurance Claim

Step 1: Get in touch with a Tata AIG insurance executive following the incident (theft or accident), or go to the Claims Process section.

Step 2: Give the executive the specifics of your policy, the make and model of the car, and the incident report. Alternatively, complete the necessary information online by visiting the "Claims Process" page.

Step 3: During the claims procedure, you have the option to self-inspect the bike. Additionally, our executive will assess the harm done to your bicycle. After that, you can mail it to the garage of your choice.

Step 4: In order to make a reimbursement claim with the insurer after your car has been fixed, you must give them the repair invoices, policy paperwork, and a certificate of registration.

Step 5: Following the verification of all paperwork and certifications, the insurer will then finally disburse the claim amounts.

Cashless Bike Insurance Claim

Step 1: Following a theft or accident, get in touch with a Tata AIG insurance executive immediately.

Step 2: File a claim with the insurer within 48 hours after the incident by giving them the specifics of your policy, the vehicle's registration, and the accident.

Step 3: The insurance executive will next assess the harm that has been done to your car.

Step 4: After the survey is done, your car will be sent to the network garage for repair. Following that, the insurance company will handle the claim settlement procedure and cover any costs related to your insured bike.

Documents Needed for Bike Insurance Policy Claims in Faridabad

  • Completed and signed claim forms

  • A copy of the car registration certificate that has been self-attested and the driver's licence in the event of an accident

  • Copy of the bike insurance documents

  • The initial invoice, bills, and receipt

  • The initial cashless claim settlement invoice

Tata AIG Cashless Garages in Faridabad

Tata AIG cashless garages are part of the wide network of garages that Tata has partnered with. These garages offer cashless repair services to Tata AIG automobile insurance holders. You can acquire services such as professional vehicle handling, damage repair, and so on.

You can find the nearest network garage in your city by utilising a garage locator, which requires you to enter your city and car information. Keep in mind, only comprehensive insurance allows for cashless repairs. Furthermore, certain services may not be available in your city.

For additional information on Tata AIG bike insurance, contact our customer care department.

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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How can I get bike insurance near me?

How can I get bike insurance near me?


You can start by researching insurance providers online or visiting local insurance agencies. Compare quotes, coverage options, and customer reviews to find the best policy that suits your needs and location. Additionally, consider reaching out to insurance agents or brokers for personalised assistance in obtaining bike insurance in your area.

Is 5-year insurance mandatory for bikes in Faridabad?


As per the IRDAI’s new directive, a 5-year bike insurance policy is mandatory only if you opt for third-party bike insurance. If you are planning to buy comprehensive bike insurance, the policy tenure will be 3 years.