Bike Insurance in Madurai

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Bike Insurance in Madurai

Madurai is a famous city in Tamil Nadu known for its religious temples and architectural wonders. Moreover, the city is an excellent urbanised hub too.

Thus, many people in the city opt to buy personal vehicles like bikes to travel around the city.

If you are someone who is planning to buy a new bike or have a bike then you must get it insured to protect against any losses. Here in the article, you will learn about the importance of bike insurance in Madurai.

All About Bike Insurance in Madurai and Why You Need One

Bike insurance or two-wheeler insurance is a financial tool that protects your two-wheelers against accidental damages. Under this insurance, the insurance company and the policy buyer sign a contract in which the insurance company promises to provide financial and legal protection against damages and losses involving the insured vehicle.

Under the Motor Vehicles Act 1988, buying motor vehicle insurance with third-party cover is mandatory. However, you can also consider buying comprehensive bike insurance for extensive coverage.

Problems Faced by Bike Owners in Madurai

These are some of the common problems faced by the bike riders of Madurai:

  • Heavy traffic and congestion on roads make it difficult for them to navigate. Moreover, it increases their chances of collision with other vehicles.

  • Careless driving and traffic violations by other vehicle drivers make it dangerous for bike riders to drive safely.

  • Driving on roads with pot-holes, uncovered man-holes, and continuous construction makes driving bikes risky and increases the chances of road accidents.

  • The lack of proper implementation and follow-through of traffic rules by vehicle drivers creates chaos on the road and disturbs traffic management.

  • Having no dedicated pedestrian and bicycle lane can cause incidents of collision among pedestrians and vehicles.

Tata AIG Bike Insurance in Madurai

Tata AIG offers various types of bike insurance in Madurai, according to the individual coverage needs of bike owners. Here is detailed information on each type of bike insurance. Tata AIG Third-Party Bike Insurance As its name suggests, two-wheeler third-party insurance is a protection tool that provides coverage against third-party liabilities that occur due to the insured vehicle. Having third-party insurance is mandatory under the Motor Vehicles Act to provide financial and legal protection to the policyholders.

 Insurance  Inclusions  Insurance Exclusions
Third-Party Liability Own Damage
Third-Party Property Damage Theft and Fire Damage
Legal Expenses Damages caused due to breaches of law
Personal Accident  Add-ons and optional covers
Best For
Bike owners looking to fulfil their legal compliance. Also is ideal for lesser-used or older vehicles.  

Tata AIG Standalone Own Damage Cover Bike Insurance Policy An own damage cover bike insurance is a policy that protects only the insured vehicle. Any accidental damages and losses that occur to the vehicle will be covered under this insurance.

Insurance  Inclusions Insurance Exclusions
Accidental Damages Third-party Damages
Fire and Explosions Drink riding damages
Man-made damages Mechanical/ Electrical Breakdowns
Theft or Malicious Acts Riding/driving without a licence
Damages Beyond Repair Policy Terms Violations
Best For
People who only have third-party insurance and want protection for their bike. Or people who live in accidental and theft-prone areas and need protection for their vehicles.

Tata AIG Comprehensive Bike Insurance Policy Tata AIG's comprehensive bike insurance policy is an extensive protection policy that provides coverage against a vast range of damages and losses. Such as theft, accidental damage, natural disaster damage, etc. Moreover, it also includes a third-party cover that protects from third-party liabilities that occur due to the insured vehicle.

Insurance Inclusions  Insurance Exclusions
Damage caused due to accidents, theft, fire, explosions and natural disasters Damage caused due to driver/owner driving without wearing a helmet or carrying a valid insurance
Third-party Liabilities Coverage Ordinary wear and tear due to usage
Personal Accident Cover for Owner/Driver Damages caused due to driving bike in restricted areas, i.e. flooded-prone region
Unique add-ons for extensive coverage Using private vehicles for commercial purposes
Best  For
Bike owners who want extensive coverage for their vehicle from a vast range of damages and for new bike owners. 

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

Basis  Third-Party Bike Insurance Standalone Own Damage Insurance Comprehensive Bike Insurance
Coverage  This insurance provides coverage against third-party liabilities that arise due to the insured vehicle. Standalone own damage insurance provides protection only to the insured vehicle from damages. Combines third-party and stand-alone coverage under one plan.
Third-Party Liability Third-party bike insurance protects against any liability to third parties that occurs due to the insured vehicle. It does not include protection against third-party liabilities. Provides coverage against third-party liabilities.  
Insurance Add-ons The insurance does not include optional add-ons.  Insurance add-ons can be included in this type of insurance.  A comprehensive policy offers add-ons.
Which Is Better? Third-party insurance is mandatory as per the law. Best for those only looking to fulfil their legal compliance.  Standalone bike insurance only protects the insured vehicle. Best for those who want own damage coverage to pair with their third party plan.  Comprehensive insurance provides extensive protection. Best for new or luxury bike owners who want all-around coverage.  

What is the Two-Wheeler Insurance Rate in Madurai

The two-wheeler insurance rate in Madurai depends on various factors; some of the crucial factors include these:**

Vehicle Registration Location: Your bike registration location affects the insurance premium rates. Vehicles registered in urban and metropolitan areas will have a higher premium rate than vehicles registered in rural or small towns.

Make and Model: The bike’s make and model is another factor that determines insurance rates. Expensive and high-end bikes have higher insurance rates than medium-end bikes.

Bike IDV: IDV value is the maximum amount that an insurance company can pay for the total loss of your bike, including irreplaceable damages and theft.

No Claim Bonus: NCB is the discount on premiums that insurance companies provide to the policyholders who did not raise any claim in the previous year(s).

Add-on Covers: If you choose to get additional add-on covers on your two-wheeler insurance in Madurai; then it will affect your insurance premium rates.

Third-Party Bike Insurance Premium Rates

Your third-party insurance premium rates are determined by the bike engine’s cubic capacity (cc). Additionally, the third-party insurance rates are uniform among all insurance providers. These rates are decided and declared annually by the Insurance Regulatory and Development Authority of India (IRDAI).

How to Choose the Best Bike Insurance in Madurai?

Assess Your Requirements: First, you need to know what you expect from your policy in terms of price, policy terms, renewal terms, and more.

Policy Premium: Policy premium prices fluctuate due to various factors. Make sure to get multiple policy quotes before selecting the one that is right for you.

Claim Settlement Process: The claim settlement process should be swift and straightforward. Thus, it is always advisable to buy insurance only from a reputable company that has a good track record of claim settlement.

Exclusions: Always ready policy terms and conditions and note down the exclusions of the insurance. It will save you from any future inconveniences.

Add-ons: You must also check for all the benefits included in the insurance, such as add-on features for extra protection.

Why You Should Choose Two-Wheeler Insurance Online?

Easy Comparison: Our online policies allow policy buyers to compare the features of various policies with a few simple clicks.

Time-Efficient:** Buying a bike insurance policy online is much more time-efficient than standing in long queues or making multiple trips down to insurance offices.

Customisable: Online bike insurance policies can be customised easily and quickly in just a few simple clicks. You can select what features and benefits you want and create a custom insurance policy.

Paperless Process: As the policy is bought online, all the steps of the procedure are done online. You will receive soft copies of your insurance on your registered email, which means no work of physical documentation.

Safe and Secure: Online policies are encrypted and cannot be accessed by third-party personnel, which is usually impossible in offline mode.

Why Choose Tata AIG Two-Wheeler Insurance in Madurai

Tata AIG understands policy buyers' concerns and acknowledges them by providing the best insurance features and services. Here is why you should get insured with Tata AIG.

Easy Claim Process: Our dedicated team of claim experts helps you throughout the claim settlement process so that you do not have to face any inconvenience.

Cashless Repair Services: With us, you can get cashless repair services at our network garages for accidental vehicle damages without paying anything out of your pocket.

Easy Buy and Renewal: Our insurance purchase and renewal process is quite simple.

Insurance Add-ons: You can get unique add-on features with your bike insurance policy for extra protection.

Brand Reputation: Tata AIG is trusted for its commitment and customer prioritisation, which it has been delivering for decades.

Key Features and Benefits of Tata AIG Bike Insurance in Madurai

Key Features and Benefits Details 
Easy Claim Procedure Get accessible claim services with our dedicated team of claim experts assistance.
No Claim Bonus (NCB) If you have yet to make any claims in the past year(s), you can get up to 50% off your bike insurance premiums.
Save on Premiums With Tata AIG, you can get up to 75% discounts on your bike insurance premiums. Know more while buying insurance.
Third-Party Damage Cover Tata AIG provides coverage against third-party liabilities on bike insurance policies
Own Damage Cover for Bike Get your own damage cover for your bike against manmade and natural disasters with our comprehensive bike insurance policy 
High Claim Settlement Ratio Tata AIG boasts a high claim settlement ratio with a swift claim procedure. 
Cashless Repair and  Reimbursement  Get cashless repair/reimbursement services for accidental damages at our network garages
Unique Insurance Add-ons With Tata AIG, you get extensive protection against various damages with our unique bike insurance add-ons
Easy Buy and Renewal Process We provide a hassle-free online insurance buy/renewal facility

Best Bike Insurance Add-ons to Get in Madurai

Zero depreciation: Under this add-on, you get reimbursement from the insurance company for the depreciation amount deducted from your claim amount.

Return to invoice: Get the invoice cost of your vehicle as reimbursement in case of total damage or theft.

Emergency Medical Expenses: This add-on reimburses medical and ambulance expenses incurred in an accident.

Consumable Add-On: Get reimbursed for the costs incurred in repairing and replacing consumable parts of a bike damaged due to an accident.

Roadside Assistance: Under this add-on, you can get roadside assistance at your location if your vehicle breaks down and needs urgent repairs.

How to Buy and Apply for Bike Insurance Renewal in Madurai?

These are the **Steps to buy and renew a bike insurance policy in Madurai.

How to Buy Bike Insurance?

Step 1: Visit the official Tata AIG website.

Step 2: On the homepage, click on the “All products” tab and then select the “Bike Insurance” option under it.

Step 3: Now, fill in your bike registration details as requested and then click on “Get Price.”

Step 4: The online bike insurance calculator will then display your insurance policy price.

Step 5: Next, you will see IDVs on the screen; you need to select the IDV that best suits your needs.

Step 6: Now, you will be displayed your bike insurance premium price on the screen.

Step 7: Finally, you need to pay your premium using the provided payment options. Once you have completed the payment, you will receive soft copies of your Tata AIG bike insurance documents at your registered email address.

How to Renew Bike Insurance?

Step 1: Go to the Tata AIG bike insurance renewal page.

Step 2: Fill in your requested bike registration details and click on “Renew” for insurance renewal.

Step 3: Next, the online bike insurance calculator will show your bike policy price.

Step 4: You will now see IDVs on the screen. Select the IDV according to your requirements.

Step 5: Next, your No Claim Bonus (NCB) details will be displayed on the screen.

Step 6: Now, you will see the renewed bike insurance policy price on the screen.

Step 7: Finally, you need to pay your premium using the given payment methods. Once the payment is completed, you will receive soft copies of your bike insurance renewal Madurai documents on your registered email ID.

How to File Claim for Two-Wheeler Insurance in Madurai with Tata AIG?

Reimbursement Bike Insurance Claim

Step 1: Connect with the Tata AIG insurance executive or visit our Claim Process page within 48 hours of the incident (accident or theft).

Step 2: Provide all the necessary details to the executive, such as estimated damage and the names and numbers of third parties involved in the incident. The same procedure needs to be followed if you are filling out the “Claim Process” form online.

Step 3: Now, conduct a self-inspection of damages to your vehicle, or the insurance executive will do it for you. After inspection, the vehicle can be sent to your preferred garage for repair.

Step 4: Once your vehicle is repaired, you need to provide the insurance executive with the original repair invoices, bills, and registration certificate to file a reimbursement claim.

Step 5: Finally once the procedure is done, your reimbursement claim amount will be released after the document verifications.

Cashless Bike Insurance Claim

Step 1: Immediately contact us after the accident or theft incident.

Step 2: Within 48 hours of the incident, provide the executive with necessary details, such as insurance details, vehicle information and incident details.

Step 3: Our executive will then survey to estimate the damages sustained to the insured vehicle.

Step 4: After the survey is completed, you can send your vehicle to a network garage for repairs. The insurance company will then proceed with the claim settlement procedure and pay for the expenses of the insured vehicle.

Documents Needed for Bike Insurance Policy Claims in Madurai

  • Duly filled and signed insurance claim form

  • Valid driving licence document of the driver

  • Bike registration certificate document

  • Bike insurance policy documents

  • Identity proof: Aadhar card, PAN card, voter ID card

  • Copy of FIR in case of theft incident

  • Original invoice and bills in case of reimbursement

  • Other necessary documents requested by the insurer

Tata AIG Cashless Garages in Madurai

Tata AIG has a network of 4,200+ garages where our bike insurance holders can get cashless damage repair services. You can find your nearest Tata AIG network garage in Madurai by using our garage locator. Fill in your city and bike details in the garage locator, and it will show you the nearest garage.

However, remember that the cashless garage service is only available under comprehensive bike insurance. Moreover, there might be a few services that are only available in select cities.

Connect with our customer support service for detailed information regarding garage services and other policy-related information.

Disclaimer / TnC

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

Related Articles

How much will bike insurance cost in Madurai?

How much will bike insurance cost in Madurai?

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The cost of bike insurance in Madurai depends on various factors, such as the insurance company, the bike model and its IDV and add-ons.

How to find bike insurance near me?

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You can visit our Bike Insurance webpage to find the right insurance for you or contact our customer support service.

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