Bike Insurance in Odisha

Vehicle owners in Odisha face various challenges such as damage to vehicles due to accidents, damages due to natural calamities and more. Due to all these reasons, they invest in a two-wheeler insurance plan.

Two-wheeler insurance in Odisha is an agreement between the insurance provider and the vehicle owner. Under this agreement, the insurance company provides protection to vehicle owners against various damages. In exchange for this protection, the vehicle owner pays a premium.

Depending on the coverage for two-wheelers, different types of two-wheeler insurance are available, such as third-party, own-damage, and comprehensive bike insurance policies.

Further, with the increased use of electric vehicles in the Indian market, electric vehicle insurance policies are also available in the market.

Some of the significant problems faced by the bike owners in Odisha are:

Road Rash Cases: One of the significant problems faced by bike owners in Odisha is road rash incidents. These accidents, which can range from minor scrapes to severe injuries, harm vehicle owners and their vehicles, as well as affect the safety of pedestrians.

Vehicle Skidding: Another common problem faced by bike owners in Odisha is vehicle skidding during the monsoon season. Vehicle skidding causes road accidents.

Poor Road Infrastructure: Poor road infrastructure is another common problem faced by bike owners in Odisha. Riding their two-wheelers on such roads harms vehicles.

Vehicle Theft: Vehicle theft is another significant problem in India, including Odisha. The lack of surveillance cameras on the road leads to vehicle theft incidents.

Traffic Management: Poor traffic management also causes trouble for bike owners. Traffic violations and a lack of traffic signals lead to congestion in the city.

Depending on the individual’s need and vehicle type, there are various two-wheeler insurance in Odisha available.
Tata AIG Third-Party Bike Insurance
A two-wheeler third-party insurance plan offered by Tata AIG protects against third-party and property damage caused by the insured vehicle.
Key Inclusions and Exclusions:

Ideal For: The third-party bike insurance plan in Odisha is suitable for vehicle owners who need basic coverage to avoid fines from authorities.
Tata AIG Standalone Own Damage Cover Bike Insurance
This is the bike insurance plan offered by Tata AIG. It protects insured vehicles against various damages and losses, such as theft and fire.
Key Inclusions and Exclusions:

Ideal For: This is the bike insurance policy ideal for the individual living in accident prone areas.
Tata AIG Comprehensive Bike Insurance
A comprehensive bike insurance plan offered by Tata AIG provides extensive coverage to vehicle owners against various natural and man-made damages.
Key Inclusions and Exclusions:

Ideal For: The comprehensive bike insurance plan offered by Tata AIG offered enhanced vehicle protection

When it comes to choosing suitable bike insurance, individuals should look for affordable premium rates. Many factors influence the bike insurance rate. Some of them are listed below:**

Policy Type and Add-ons: The two-wheeler insurance rate in Odisha is affected by policy type and add-ons. A comprehensive bike insurance plan has a higher premium compared to third-party bike insurance policies.

Make and Model of Bike: The make and model of a bike also affect the two-wheeler insurance premium. A vehicle with high-end components generally has a higher premium than a basic two-wheeler.

Insured Declared Value: IDV, or insured declared value, is the highest value an insurance provider will offer in case of total damage and loss to an insured vehicle.

This value is determined by the insurance provider and is based on the market value of the vehicle. If the IDV is high, then the two-wheeler insurance premium is also high, as the insurance company will have to pay more in the event of a total loss.

Engine Capacity: Another factor that affects the two-wheeler insurance premium is the vehicle's engine capacity. A vehicle with a high engine capacity has a higher premium.

No Claim Bonus: A no-claim bonus, or NCB, is an insurance provider's offer to reduce the two-wheeler insurance premium. If a policyholder does not make a claim against the policy for consecutive years, he will receive a discount on the premium.

Third-Party Bike Insurance Premium Rates

The Insurance Regulatory and Development Authority of India (IRDAI) decides the third-party bike insurance premium rates. The premium is decided by considering various factors, such as cubic capacity.

Individuals need to consider various factors while choosing the best bike insurance in Odisha. These factors include:

Coverage: The most important thing to look for when choosing a two-wheeler insurance policy is its coverage. The insurance plan coverage that fits your requirements is the ideal two-wheeler insurance policy.

Add-ons: Another thing to look for while selecting a bike insurance policy is add-ons or riders. These are additional offerings by insurance providers to enhance vehicle protection.

Claim Settlement Ratio: Another crucial thing individuals need to check while choosing a bike insurance policy is the claim settlement ratio (CSR). An insurance company with a high CSR generally has an easy claim settlement process.

Premium: The premium of a bike insurance policy is decided based on the coverage and add-ons. A two-wheeler insurance calculator is available on the website to calculate the premium.

There are various benefits to purchasing a bike insurance policy online. Some of them are listed below:

Competitive Pricing: Online policies are generally cheaper than policies bought in person, as they cut out the middleman (agents) – so no extra costs are involved, and this can bring the price down by a lot. Moreover, with so many insurance options available, it’s quite easy to find a cost-effective plan online.

Seamless Buying Process: Another benefit of buying a bike insurance policy online is the seamless buying process. Individuals can purchase two-wheeler insurance online without any paperwork.

Time-Saving: Buying insurance for 2-wheelers online hardly takes 2 to 3 minutes. Individuals can purchase plans online from the comfort of their homes without visiting the insurance provider's office.

When choosing two-wheeler insurance in Odisha, it is best to go with an insurance provider that is well-known. Tata AIG is a reputed insurance company that has been in the market for over 20 years. Some of the benefits of purchasing a two-wheeler insurance from Tata AIG are:

Comprehensive Coverage: Our comprehensive bike insurance policy offers extensive coverage to vehicle owners against various natural and man-made damages.

Unique Add-ons: Another benefit of purchasing a bike insurance policy from Tata AIG is access to unique add-ons. These are additional riders that enhance vehicle protection as needed.

High Claim Settlement Ratio: Another crucial benefit of buying a two-wheeler insurance plan from Tata AIG is a high claim settlement ratio. We had a claim settlement ratio of 99% in the last fiscal year 2022-2023.

Network Garages: We have a vast network of network garages all across the country to offer cashless services to our policyholders. We have 4200+ cashless garages for bikes all across the country.

Roadside Assistance: This is a special add-on by Tata AIG in which the policyholder receives roadside assistance in case of a dead battery, fuel requirement, etc.

Emergency Medical Allowance: This is another important rider offered by Tata AIG. The rider and pillion rider will get medical assistance, such as ambulance charges, medical bills, etc., covered during the accident.

Consumables Expense: Tata AIG offers another add-on in which the cost of repairing and replacing consumables is covered under the policy.

Zero Depreciation Cover: Zero depreciation cover is an important rider in which the vehicle depreciation cost is not considered for replacing and repairing the vehicle part at the time of making a claim.

Buying and renewing a bike insurance policy is an easy process. Below are the **Step-by-**Step methods for both.

How to Buy New Bike Insurance in Odisha?

Step 1: To buy bike insurance in Odisha, visit the official Tata AIG website.

Step 2: Next, click on the “All Products” section.

Step 3: Under the “Motor Insurance” section, select the “Bike Insurance” option.

Step 4: Next, enter the bike registration number and then click on the “Get Price” button.

Step 5: After that, select the bike variant, brand, etc and click on the “See Price” button.

Step 6: Different bike insurance plans will appear. Choose the policy type and IDV as per the requirement.

Step 7: Next, include an add-on in the plan as per the requirement.

Step 8: Fill out the policy form by adding details and click on make payment option.

Step 9: Pay the bike insurance policy premium using the preferred payment mode.

Step 10: Upon the confirmation of payment, the policy will be sent to their registered email address.

How to Do Bike Insurance Renewal in Odisha?**

Step 1: For a bike insurance renewal in Odisha, open the Tata AIG website.

Step 2: Scroll to the “All Products” section.

Step 3: Now, go to the “Motor Insurance” section. Select the “Bike Insurance” option.

Step 4: Enter the bike registration number and click on the “Renew” button.

Step 5: The old policy price will appear; add or remove riders from the policy as needed.

Step 6: Next, fill out the bike insurance policy renewal form.

Step 7: After that, pay the bike insurance policy premium.

Step 8: Once the payment is successful, the renewed bike insurance policy will be sent via email.

When it comes to two-wheeler insurance claims, the policyholder has two options, which we are going to discuss below:

Reimbursement Bike Insurance Claim

• To file a reimbursement claim request, go to the Tata AIG claim page.

• Notify the Tata AIG representative about the incident.

• Upon the intimation of the incident, the insurance company will send the surveyor for the two-wheeler inspection.

• The survey will assess the vehicle for damage and loss.

• After the survey, policyholders can take their vehicle for repair in any garage.

• Once the repair is done, policyholders need to submit the claim form, repair bills, and other documents to initiate the claim process.

• The company will verify all the documents and, based on that, approve or reject the claim request.

• Once the claim is approved, the insurance provider will initiate the reimbursement payment.

Cashless Bike Insurance Claim

• For the cashless claim, policyholders need to notify the Tata AIG representative about the incident in the stipulated time.

• After getting the notification about the incident, the company will send the surveyor for a two-wheeler inspection.

• The surveyor will assess the vehicle for damage and loss. After that, policyholders need to provide the necessary documents to the representative.

• After the verification, the vehicle will be sent to network garages for repair.

• Once the vehicle repair is done, the policyholder can take the vehicle home without making any payment. The repair bills will be settled by the insurance provider to the garage directly.

• Original bike insurance policy

• Identity document

• Address proof

• Vehicle-related document

• Repair bills of two-wheeler

• First information report, if needed

• Any additional documents asked by the insurance provider.

Network garages are repair garages that offer cashless repair services to policyholders. The policyholder does not have to pay anything to have damages repaired in the network garage. However, these benefits only come with the comprehensive bike insurance policy.

Tata AIG has 7,500+ network garages nationwide. To locate the network garage in Odisha, go to the garage locator page, enter the city, and click on the search icon. All the network garages available in the region will appear.