Bike Insurance in Visakhapatnam

You can choose from three types of TATA AIG bike insurance in Visakhapatnam: third-party insurance, stand-alone damage cover and comprehensive bike insurance. Each insurance type provides a specific degree of coverage to the insured to safeguard him from damages.

Traffic congestion and accidents are prevalent in the country, including the city of Visakhapatnam. In such a scenario, it is crucial for motorists to brace themselves with the best bike insurance, so they can receive financial protection in time if needed.

Another reason to invest in bike insurance is that the Motor Vehicles Act mandates third-party insurance. It is a compulsory requirement for all types of vehicles, including EV bikes. Thus, buying bike insurance enables you to fulfil your obligation and avoid paying any fines and penalties.

-Lack of Foot Overbridges: Due to the lack of foot overbridges in the city, bike riders often apply sudden brakes due to pedestrians appearing on the road. Many times, this leads to fatal accidents.

-Narrow Roads: The vehicle population in Visakhapatnam has increased considerably in the recent years. However, the roads prove to be inadequate and narrow to accommodate the vehicles. This leads to heavy vehicles and motorcycles running parallel, which leads to fatal accidents.

-Inadequate Street Lighting: Many areas in the city have inadequate street lights, which makes it difficult for bike owners to perceive the road or vehicle, leading to non-fatal accidents.

-Parking Crisis: Many areas in Visakhapatnam are facing parking violations and crises, which lead to congestion. As a result of congestion, many accidents occur, leading to injuries to motorcyclists.

-Absence of Two-Wheeler Dedicated Lanes: In the absence of two-wheeler dedicated lanes, motorists use the regular NH lane, plying along huge trucks and vehicles. Oftentimes, this leads to accidents, causing fatal injuries to motorists.

Tata AIG Third-Party Bike Insurance

Third-party bike insurance safeguards the insured against third-party damages and liabilities. It is one of the most common insurance types and is mandatory as per the Motor Vehicles Act.

-Inclusions:

• Offers coverage against third-party liability and damage

• Cheaper as compared to other insurance types

• Enables you to fulfil your legal obligation

-Exclusions

• Requires one to buy separate insurance for own damage

Ideal For:

• People looking for low-price bike insurance..

• Owners of old bikes with low value.

** Stand Alone Damage Cover

Stand-alone two-wheeler insurance in Visakhapatnam covers the damage caused to the insured’s bike only. In such an insurance plan, third-party liability and damages are not included.

Inclusions

• Provides coverage for own damage caused by accident, calamities, theft, etc.

• It also includes a personal accident cover

• You can include add-on covers

• No claim bonus discount is applicable

Exclusions

• You do not get protection against third-party damages.

-Ideal For

• Those who have new or luxury bikes

• It is ideal for people who already have existing third-party bike insurance.

** Comprehensive TATA AIG Two-Wheeler Insurance

Comprehensive insurance offers holistic protection as it covers third-party liabilities as well as own damages. It protects your vehicle against accidents, calamities, theft, and many such incidents.

-Inclusions

• Offers extensive coverage

• Allows you to customise the policy with the help of add-ons

• Includes a personal accident cover

• Does not require you to buy any other type of insurance

-Exclusions

Does not cover incidents excluded in the policy document.

-Ideal For

• People with new or luxury bikes

• Suitable for motorists of all age groups

• Those who want 360-degree protection

The insurance rates for two-wheelers in Visakhapatnam depend on various factors. It is crucial to understand these factors as they help you navigate through the insurance landscape and understand how the premium is determined.

-Make and Model of the Bike

The make and model of your bike directly influence the insurance premium that you will pay. Hence, if you own a highly-priced bike, your insurance premium will also be high and vice versa.

-Type of Insurance Coverage

The insurance rate differs based on the type of coverage you require. A third-party insurance plan is available at a low rate as the coverage is limited. However, if you opt for comprehensive bike insurance, the premium will be higher as the coverage is all-inclusive.

-Rider’s Driving Records

Rider’s with pending challans and multiple traffic violations are considered dangerous drivers. Hence, the insurance company may charge a higher premium from them.

-Engine Capacity

The premium calculation for a two-wheeler also includes its cubic capacity. If your bike has a higher cubic capacity (cc), you may end up paying more insurance premium and vice versa.

-Insured Declared Value

IDV, or Insured Declared Value, is a crucial component of the bike insurance premium. It is the highest amount an insurer will pay in case of a total loss. Thus, a higher IDV means you pay more insurance premiums to insure your bike.

-Location

Urban settings and cities are heavily congested and more prone to accidents, attracting higher insurance premiums. Similarly, if your locality is theft-prone or flood-prone, your vehicle insurance will come at a higher premium.

-Deductibles

Voluntary deductibles are the amount that you agree to pay from your pocket at the time of an insurance claim. If you opt to pay a higher deductible amount, your insurance premium will be reduced, and vice versa.

-Add-Ons

Add-ons are additional features that enhance the two-wheeler insurance coverage. Including add-ons to your insurance policy comes at an additional cost, which leads to an increase in the insurance premium.

-Third-Party Bike Insurance Premium Rates

The premium rates for third-party insurance are determined by the IRDAI on the basis of the engine’s cubic capacity and other factors.

Higher cc bike owners may have to pay a higher premium as compared to those owning a lower cc bike. The premium rates for third-party insurance are subject to change annually as per the decision of IRDAI. Hence, one must check the official rates declared by the IRDAI on their official website.

Bikes are classified into 4 categories for determining the insurance premium rates by the IRDAI:

• Not exceeding 75 cc

• Between 75 cc and 150 cc

• Between 150 cc and 350 cc

• More than 350 cc

-Convenient Option

Buying online bike insurance in Visakhapatnam offers the convenience of buying and renewing the policies from the comfort of your home.

-Speedy Process

Choosing the digital way to buy an insurance policy speeds up the application and approval process of your insurance policy. You can complete the formalities in a few clicks and get the policy issued instantly.

-Round-the-clock Availability

Digital platforms are available 24/7, which offers the customers flexibility to apply for an insurance plan at any time of the day or night.

-Advanced Tools

Using advanced digital tools, one can calculate the premium, find out the coverage, and determine other costs involved in purchasing insurance.

-Policies At Affordable Premiums

TATA AIG two-wheeler insurance can be purchased at affordable premiums so all motorists can safeguard themselves against unfortunate events. To make the policies affordable, TATA AIG offers various discounts.

-Multiple Add-On Options

You can choose the right add-on to enhance the insurance coverage and service maximum benefits from the plan. Some add-ons available include NCB, zero depreciation, roadside assistance, etc.

-Extensive Coverage

With our comprehensive two-wheeler insurance, you can enjoy extensive coverage. Our comprehensive plans offer third-party cover as well as own damage cover to ensure you are fully protected.

-Helps Fulfil Obligations

Since third-party insurance is mandatory in India, our insurance plans assist you in fulfilling the obligation and staying protected.

• The rates may vary depending on the type of coverage and the add-ons chosen.

Extend your bike’s insurance coverage with the help of the following add-ons from TATA AIG for a slightly higher premium:

• Roadside Assistance

• Consumable Expenses

• Additional Third-Party Liabilities Cover

• Emergency Medical Cover

• Return To Invoice Cover

• Depreciation Allowance

Additional Personal Accident Cover for Owner/Driver

-How to Buy Bike insurance

• Navigate to TATA AIG’s official webpage.

• Select “Bike” from the various insurance product tabs to access the TATA AIG two-wheeler insurance section.

• Enter the two-wheeler registration number and click on “Get Price”.

• On the next page, provide all the personal information accurately.

• Select any add-ons if you wish to add and proceed.

• The two-wheeler insurance calculator will generate an instant premium quote.

• If it matches your budget and requirements, you can proceed to make an online payment.

• Once the verification is done at our end, your policy will be issued immediately and sent to the registered email address.

-How to do Bike Insurance Renewal in Visakhapatnam?

• Go to TATA AIGs official website.

• From the product tab, select the option “Bike”.

• Provide the bike registration number in the box. Then, click on Renew existing TATA AIG policy”.

• Provide your details as requested on the following page.

• Select the desired coverage (if you wish to change the existing one) and the add-ons as per your requirement.

• Check the instant quote that appears on the screen.

• Pay the premium online, and your policy will be renewed instantly.

If you have two-wheeler insurance from TATA AIG, you can raise a claim in two ways: reimbursement or cashless.

-Reimbursement Bike Insurance Claims

• Firstly, inform TATA AIG as soon as possible (within 48 hours) after the incident occurs. Alternatively, you can also utilise the claim support page.

• Provide all the details of the incident along with the policy and vehicle details either through call or the claim page.

• Complete the steps to get the vehicle assessed to confirm the damages.

• Take your bike to any garage of your choice and get the necessary repairs done.

• Preserve all the bills and receipts of the repairs and submit them to TATA AIG for a reimbursement claim.

• TATA AIG will scrutinise the claim and settle the bill amount at the earliest.

-Cashless Bike Insurance Claims

• Get in touch with the TATA AIG executive at the earliest after the incident.

• Raise a claim within 48 hours with the TATA AIG team.

• Provide all the details of the vehicle, incident, etc.

• A surveyor will visit to assess the damage to the vehicle and verify the claim.

• Once the assessment is completed, you can take your vehicle to any of our network garages for repair. You do not have to make any payment for repairs, as it will directly be settled by TATA AIG.

• Claim form accurately filled and signed

• Copy of the two-wheeler insurance

• Copy of the driver’s licence of the person driving the vehicle at the time of the incident.

• Original repair invoices and bills (in case of reimbursement claim)

• Repair estimate

• Copy of the two-wheeler’s RC book, tax receipts, etc.

• FIR report copy (in case of third-party damage and claims)

TATA AIG cashless garages are those garages that collaborate with TATA AIG to offer cashless repair services to its policyholders. The concept of network garages offers significant benefits to the insured in terms of getting a quick repair of their bike or car after an accident.

When an insured opts for cashless repair, they can avail of quick and cashless repair of their vehicle. After the repairs are completed, TATA AIG directly settles the bills with the garage. Thus, the insured is not required to spend any money from out of his pocket.

However, it is important to mention that the cashless repair facility is available only under comprehensive insurance plans and the services may differ from location to location. Hence, it is wise to get all the details from the TATA AIG customer support team before purchasing any policy. To know about the cashless garage in your city you can use the garage locator!