Bike Insurance in Ludhiana

Two-wheeler insurance is a contract between a two-wheeler owner and an insurance provider. Under the contract, the latter promises to pay for predetermined damages in exchange for premiums.

Third-party bike insurance in Ludhiana is not only mandatory but also a necessary tool to safeguard yourself against unforeseen mishaps. According to the Motor Vehicles Act of 1988, you must have valid third-party insurance before hitting Indian roads.

However, third-party insurance pays for damages and losses of third parties only in case of a mishap. Considering the growing number of road accidents and thefts in Ludhiana, it is crucial to protect your two-wheeler as well.

At Tata AIG, you can buy a standalone own-damage policy or comprehensive two-wheeler insurance to ensure the overall safety of your dream bike. So, if you own a two-wheeler, including an EV in Ludhiana, it is essential to compare different policies to make an informed decision.

According to the National Crimes Records Bureau (NCRB), Ludhiana is among the 11 most accident-prone cities in India. It witnesses the maximum number of road accidents and casualties in Punjab.

According to traffic experts, a high number of deaths of two-wheeler riders in Ludhiana is due to poor enforcement and compliance with traffic rules. Speeding and not wearing helmets are common violations.

Another factor that makes bike insurance necessary in Ludhiana is the increased risk of theft due to the lack of proper parking spaces in some areas.

Now that you are aware of the common problems faced by two-wheeler owners in Ludhiana, here are the types of Tata AIG two-wheeler insurance policies you can choose from based on your needs and risk exposure:

Standalone third-party bike insurance

Mandated by Indian motor vehicle laws, third-party bike insurance is an efficient tool to protect yourself against third-party liabilities. The policy pays on your behalf if your bike ends up injuring a third party or damaging a third-party vehicle or property.

However, your prized possession is not covered under this policy. Third-party bike insurance is a suitable option if you have an older bike and want limited coverage and cheaper bike insurance prices.

Standalone own-damage bike insurance

As the name suggests, this policy pays for your bike’s damages caused by an unfortunate accident, man-made disasters, fires, natural calamities, etc. It also reimburses if your bike is stolen or lost.

However, the standalone own-damage policy does not offer any respite in case you injure someone or damage their property. You will have to buy third-party bike insurance separately to ensure legal compliance and protection against third-party liabilities.

Comprehensive bike insurance

Tata AIG’s comprehensive bike insurance is designed to cover third-party losses and own damages under a single plan. You can protect your bike from man-made disasters, natural calamities, fire, theft, etc. and ensure security against third-party liabilities through a single premium.

Additionally, Tata AIG's comprehensive bike insurance offers a range of add-ons for targeted protection.

The following table sums up the difference between third-party, standalone own-damage and comprehensive bike insurance policies:

Several factors come into play when it comes to the comprehensive two-wheeler insurance rate in Ludhiana. While you can use Tata AIG’s online two-wheeler insurance calculator to seamlessly and quickly calculate the bike insurance premium for your vehicle, it is important to know what factors impact that price.

Insurance companies consider the following factors while predicting the risks and insurance prices for your bike:

Extent of coverage

While third-party insurance comes at nominal charges due to its limited coverage, a comprehensive plan is costlier since it offers extensive and all-round coverage.

Bike’s Insured Declared Value (IDV)

It is the current market value of your bike. Since an insurance company is responsible for compensating only up to the value of your bike, IDV is considered while calculating its insurance premium. If the IDV is lower, the premium will also be lower, and vice versa.

Bike’s make and model

If you own a low-priced bike, your bike insurance premium will be lower. However, insurance rates will be higher in the case of a high-priced bike.

Bike’s age

Since a new bike has a higher market value, the premium rates for its insurance will also be higher. Similarly, an old bike with a low market value can be insured at comparatively lower rates.

Bike’s engine capacity

You will have to pay a lower premium for the insurance of a bike with a lower engine capacity. On the other hand, insuring a bike with a higher engine capacity will cost you more.

Location

The location where you use or park your bike may also decide its insurance rates. Locations with a higher risk of theft, accidents or natural calamities may lead to higher premiums

No Claim Bonus

You can renew your bike insurance at lower prices if you have not raised any claim in the previous policy year

Add-on covers

Since add-on covers come at extra prices, adding them to your bike insurance can significantly impact its premium rates

Third-Party Bike Insurance Premium Rates

The prices of third-party insurance are determined by the Insurance Regulatory and Development Authority of India (IRDAI). They are based on the cubic capacity of a bike. The rates of third-party insurance vary since they are revised annually by IRDAI.

Buying the best bike insurance in Ludhiana is vital to ensure road safety and financial security against an array of risks.

Here are a few factors you must consider to make an informed decision:

Evaluate your needs and risk exposure

The first and foremost thing that helps buy the best bike insurance is evaluating your needs and risk exposure. Consider your bike’s make and model, age, usage and location to opt for suitable coverage.

Compare coverage options

Once you have evaluated your bike’s requirements, compare different policies to know which one aligns best with those needs. Comprehensive two-wheeler insurance in Ludhiana can be the best choice to ensure the overall safety of your bike and that of others.

Enhance protection with add-on covers

After making up your mind about a specific policy, consider enhancing your and your bike's protection through suitable add-on covers. You can buy multiple add-ons like Personal Accident cover, Zero Depreciation cover, Roadside Assistance cover, etc., based on your unique requirements.

Evaluate companies’ claim settlement ratio and services

Next comes the insurance provider. You can compare different insurance companies in terms of claim settlement ratios and services. A higher claim settlement ratio indicates a seamless and quick claim settlement process. To know about a company’s service quality, you can review customer feedback.

Buying bike insurance online is not only convenient but wise due to the following reasons:

Easy and quick comparison

Online space is a good way to compare different policies and pick the most suitable one. You can compare different insurance providers, coverage options, prices and add-ons to buy the best bike insurance

Paperless

Buying two-wheeler insurance online allows you to go paperless. Furthermore, you can download and save your documents and access them whenever needed in a hassle-free manner

Savings on time

Online purchase and renewal of two-wheeler insurance helps you save on time. You don't have to stand in long queues and complete paperwork. All you need is to follow a few simple steps and you'll get your policy in no time.

Buying your dream bike can be exciting. At the same time, buying suitable bike insurance from the right insurance company is crucial to protect it from an array of threats.

• With Tata AIG as your insurance partner, you can own a bike without any stress in Ludhiana and ensure your bike is in safe hands. Here’s why:

• With over 20 years long experience in the industry, we understand the unique needs of every vehicle

• Our policies are designed to provide maximum protection to your prized possession at budget-friendly prices

• We have a network of 7500+ garages spread over the entire span of the country

• We are proud to serve more than 5 crore happy and satisfied customers all over India

• We are a performance-driven brand that believes in customer satisfaction and excellence. We are proud to have a 99% claim settlement ratio for the FY 2022-23

The key features and benefits of Tata AIG two-wheeler insurance in Ludhiana are as follows:

Comprehensive bike insurance can fall short when it comes to diverse risks your two-wheeler is exposed to on the bustling streets of Ludhiana.

Hence, Tata AIG two-wheeler insurance comes with the following 7 add-on covers that can enhance your bike’s protection:

Depreciation allowance

Also known as zero depreciation cover or bumper-to-bumper cover, this rider helps you get reimbursement for the depreciation of your bike’s parts if you file a claim for their repair or replacement.

Roadside assistance cover

This rider offers 24/7 assistance if your bike breaks down in the middle of a journey due to a dead battery, flat tyre, empty tank or mechanical or electrical issues.

Return to invoice cover

This rider helps you avail invoice cost of your bike as reimbursement if it gets damaged or stolen.

Additional personal accident cover for owner-driver

This rider is an additional personal accident cover that protects you and your loved ones if an accident causes serious injuries or death.

Additional third-party property damage cover

This rider offers additional protection against third-party liabilities that can cause a heavy burden on your pocket.

Consumables expenses

This add-on offers reimbursement for replacement, replenishment or repair of bike consumables like nuts/bolts, screws, brake oil, engine oil, etc., excluding fuel in case of an accident.

Emergency medical expenses

With this add-on, you can get reimbursement for ambulance costs and emergency medical expenses if an accident injures you or the pillion rider

Buying or renewing your two-wheeler insurance at Tata AIG is quite easy. Below discussed is the process of how to buy or renew your two-wheeler insurance in Ludhiana:

Buy Bike Insurance in Ludhiana

Here’s a step-by-step guide to buying bike insurance from Tata AIG:

Step 1: Visit the Tata AIG two-wheeler insurance page.

Step 2: Now enter your bike’s registration number in the space given and click “Get Price.”

Step 3: Furnish the necessary details and select the bike’s correct IDV, NCB, if applicable. You can add suitable riders if you wish to enhance your bike’s protection.

Step 4: The two-wheeler insurance calculator will display the premium payable.

Step 5: You can make the payment through any of the digital payment options.

Step 6: Once payment is received by Tata AIG, a soft copy of your bike insurance will be sent via email.

Bike Insurance Renewal Ludhiana

If you already have Tata AIG two-wheeler insurance and wish to renew your expired policy, follow the steps for bike insurance renewal in Ludhiana:

Step 1: Visit the Tata AIG two-wheeler insurance page.

Step 2: Now enter your bike’s registration number in the space given and click “Renew.”

Step 3: Furnish the necessary details and select your bike’s correct IDV, NCB, if applicable. You can add suitable riders if you wish to enhance your bike’s protection.

Step 4: The two-wheeler insurance calculator will display the premium payable.

Step 5: You can make the payment through any of the digital payment options.

Step 6: Once payment is received by Tata AIG, a soft copy of your bike insurance will be sent via email.

You can file a claim for Tata AIG two-wheeler insurance in Ludhiana in the following manner:

Step 1: Visit the Tata AIG’s “Claims Page” or call on 1800-266-7780.

Step 2: Provide all necessary details asked. After receiving your claim request, Tata AIG will send a link to your registered mobile number for self-inspection.

Step 3: Fill in the details about damages in the self-inspection form correctly. Tata AIG will also send a surveyor to inspect your vehicle and prepare a report on damages.

Step 4: You can now choose between a cashless claim or a reimbursement claim.

Step 5: After filing a claim successfully, you will be given a claim registration number. Keep it safe for future communication.

Step 6: You can also track your bike insurance claim online after filing it.

Step 7: Tata AIG will check your claim details and other documents to verify if damages come under your bike insurance policy coverage. Once verification is complete, Tata AIG will settle your claim as quickly as possible.

Cashless Bike Insurance Claims

Cashless bike insurance claims come into the picture when you choose to get your bike repaired at Tata AIG’s network garage. In such a scenario, Tata AIG directly settles the bill with the repair facility.

Reimbursement Bike Insurance Claims

A reimbursement claim comes into play when you get your bike repaired at any garage of your choice and pay for the repair costs yourself. Tata AIG will reimburse the repair expenses that are covered under the policy. Make sure you keep the repair bills or receipts.

Here’s the list of documents needed for bike insurance claims in Ludhiana:

• Bike insurance certificate

• Your driving license

• Pollution Under Control (PUC) Certificate

• Identity proof

• Bike registration certificate

• First Information Report (FIR) if needed

• Original bills/receipts for repairs (in case of reimbursement claims)

• Fire brigade report if required (in case of comprehensive policy)

• Canceled cheque

• Other documents the insurance provider may ask

• Cashless garages form a vital component of Tata AIG bike insurance Ludhiana. These are repair facilities or garages that come under Tata AIG’s network of garages.

• Since services at these facilities are cashless, you don't have to pay any money for the repairs covered under the policy. Tata AIG directly settles the bill.

• You can visit the nearest network garage and seek cashless repair of your bike. Locating Tata AIG’s cashless garage faculty near you is simple. All you need is to call on toll-free number 1800-266-7780 and inquire about the nearest cashless garage.

• You can also visit the Tata AIG cashless garage locator page.

Note: Certain services like cashless repairs are only available under comprehensive plans and certain services are available only in select cities. Please clear any queries you may have with Tata AIG customer service before moving forward with any purchases.