Two Wheeler Insurance Renewal and its importance

Two wheeler insurance offers insurance coverage against liabilities which may arise from unforeseen incidents like accident. If you are not able to renew your policy before it’s expiry date it falls in lapsed state and any claim raised during this period is liable to get rejected. Also It is mandatory under the Motor Vehicles Act 1988 and the recently passed Motor Vehicles (Amendment) Act 2019 for all the two wheeler drivers to have valid two wheeler insurance at all times.

Why is Renewal of Two Wheeler Insurance Plan Necessary?

It is a mandatory legal requirement for all two wheeler drivers to have a two wheeler insurance policy at all times. Not renewing your insurance plan can prove to be a costly mistake, in a scenario where you meet with an accident and are not having a valid two wheeler insurance then you would have to pay expenses related to any bodily injury to third party or any damage to the third party property from your own pocket. With option of online renewal for insurance plans it has become all the more convenient and easy for you to get your policy renewed before the expiry date.

  • Please Note: As per the recently passed Motor Vehicles (Amendment) Act 2019, on driving an uninsured two wheeler you would have to pay Rs 2,000 as fine or face up to 3 month jail.

  • Two Wheeler insurance plan can easily be renewed online, thereby saving you time and effort

  • You should always try to get your insurance policy renewed before time, if you fail to renew the policy before expiry date, then it falls under lapsed state and any claim made during this period is liable to get rejected by the insurer.

  • You stand to lose your accumulate No Claim Bonus if the two wheeler insurance policy lies in lapsed state for more than 90 days.

Our Two Wheeler Insurance Plans

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Single Year Comprehensive Insurance
  • This insurance protects your ride totally for 1 year. It covers damage caused to your vehicle due to theft, accident or calamity.

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Standalone Motor Own Damage Cover - Two Wheeler
  • Your search for the much needed own damage cover only for your bike or scooter ends here.
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Long Term Comprehensive Insurance
  • This insurance protects your ride totally for upto 5 years. It covers damage caused to your vehicle due to theft, accident or calamity.
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Two Wheeler Liability Only Insurance 
  • Get this third party insurance cover to insure the damages or injuries caused to third party person or property.

Add-On Covers

Zero Depreciation Cover

Get the Entire Amount With Zero Depreciation Cover!

Usually, your policy will only pay you the claim amount after deducting the depreciation amount. Your policy wordings will contain the details of depreciation. So, what can you do to get the entire amount? There is a way out! The zero-depreciation cover! With zero depreciation, there are no depreciation cuts, and you get the entire amount in your hands !


How does it Work? If you car is damaged and the claim amount is Rs 15,000, out of which insurance company says that you may have to pay 7000 as depreciation amount excluding policy excess/deductible. If you buy this add on cover then, the insurance company will pay the entire assessed amount. However, policy excess/deductible needs to be paid by the customer, which is quite nominal.

No Claim Bonus Protection

There’s a way you could protect your NCB

In case of claim for damage caused due to external impact, flood, fire etc to a parked vehicle or damage to windshield glass, this add on cover not only protects your No Claim Bonus earned so far, but also takes it to next NCB slab .


How does it work? Consider a situation wherein your parked car gets damaged due to collision or any other calamity, No Claim bonus protection shall keep your NCB of 20% protected for the same year and take it smoothly to the next year slab of 25%. This cover can be availed upto 3 claims during the entire policy duration.

Emergency Assistance Cover

We’ve got you covered!

We are here to offer you round-the-clock assistance to deal with any technical or mechanical breakdown issues of your car! The emergency assistance cover includes minor repairs on site, lost key assistance, duplicate key issue, tyre changes, battery jump starts, fuel tank emptying and towing charges! 


How does it work? Under this add on cover there are multiple benefits which can be availed by you. For instance, If you are driving your vehicle and there is damage, it needs to be towed to a garage. With this add on cover, you may call the insurer and they will get your vehicle towed to the nearest possible garage upto 100 kms from your declared registered address.

Return to Invoice

Offers the differential amount between the IDV and the Invoice value of the vehicle

What could be more devastating than discovering one fine day that your car has been stolen or faced a total damage? Your policy will always pay you the IDV (Insured Declared Value) of your vehicle. The IDV is equal to the current market price of the vehicle. But, with a return to invoice add-on, you get the difference between invoice value and IDV as well! You have to ensure that an FIR has been filed and the car was not recovered within 90 days after the incident .


How does it Work? If you have purchased a vehicle in 2007 and the purchase invoice was Rs 7.5 lakhs. After two years, the Insured Declared Value (IDV) would be Rs 5.5 lakhs and is damaged beyond reapir or is stolen then, you will get the original purchase invoice Rs 7.5 lakhs. In addition to this, you will get registration charges & applicable taxes as well. Excess/dectucible as per the policy schedule will have to be borne by you.

Engine & Gear Box Protector

Protects your car engine damage when water enters the engine during rains or flood

Be it the downpour of rains or the rushing flood waves, your vehicle's gearbox and the engine remains wrapped in the protective coverage of engine and gearbox protection cover! It pays for the replacement or repair of all the child parts or internal parts. Moreover, it further covers the labor costs, cost of compression tests, machine charges and engine cylinder re-boring.


How does it Work? Imagine on a rainy day due to accident, if there is damage to the engine/gear box and chances are that engine oil will start leaking. In such a situation, if you continue to drive the vehicle, engine will get seized. Such damage is a result of a consequential loss which is not covered under the standard motor insurance policy. With this Add-on cover your car’s internal parts of engine and gearbox remains protected.

Key Replacement cover

Lost/stolen keys? The key replacement cover helps you!

Did your keys get stolen or lost? This add-on will help you get the replacement keys as soon as possible!


How does it work? If you have lost or misplaced your car keys this add-on cover will act as a saviour.

Cost of Consumable Items

Here is a consumable items coverage that covers all the consumables used in your car! Yes! You need this right now! It pays for all the non reusable consumables such as nuts, bolts ....


How does it work? If your car faces an accident and needs repairs, under such a scenario the non-reusable consumables may have to be bought again to fix your car. Parts such as  washers, screws, lubricants, other oils, bearings, water, gaskets, sealants, filters, and much more are not covered under the motor insurance cover & the cost is to be borne by the insured. With this add on cover we pay for the cost of such consumables and let you take it easy.

Loss of Use - Downtime Protection

Paid the Cabs While Your Car Was On Repair? Downtime Protection Is Here! Provides a cash allowance benefit incurred by the customer for use of other means of transport for daily conveyance .


How does it work? So, your vehicle got involved in an accident, and it is given for repair works! Sadly, you are left without a vehicle to travel and end up paying the cabs more! But, did you know that the loss of use-downtime protection can cover all the expenses made on cabs? Yes! It will as mentioned on the policy schedule!
Why HDFC ERGO?

Secured Over 1 Crore+ Smiles!

Take a quick look at our customer base, and you are sure to be amazed to see 1 Crore+ smiling faces! The multitude of awards received by us including the IAAA and ICRA ratings further speak about our trustworthiness, credibility and highest claim paying abilities!
Why HDFC ERGO?

Overnight Car Repair Services

The stars might refuse to shine, but we will never refuse to repair! We repair minor accidental damages from dusk to dawn without any hassle. You can simply get in touch with us; we will get your car picked at night, repair it and deliver it by morning at your door step .We offer these services in 13 cities at present!
Why HDFC ERGO?

Transparency at its best

Transparency holds the key to our transactions, and you can be assured of getting the seamless claim procedures. With 30 Minutes*** claim approval & online claim intimation via QR code we’ve been winning customer smiles everywhere.
Why HDFC ERGO?

All the support you need-24x7

Get hassle-free support every day, every week whenever and wherever you need! With our dedicated in-house claims team and customer support, we ensure every query is responded . Isn’t that great? To know someone has your back even in the middle of the night?
Why HDFC ERGO?

Go Paperless! Go Boundless!

Why stick to age-old time-consuming paper works when HDFC ERGO can get all your works done paperless? The online transactions make you boundless and free! Your time is valued at HDFC ERGO!
Why HDFC ERGO?

Secured Over 1 Crore+ Smiles!

Take a quick look at our customer base, and you are sure to be amazed to see 1 Crore+ smiling faces! The multitude of awards received by us including the IAAA and ICRA ratings further speak about our trustworthiness, credibility and highest claim paying abilities!

Overnight Car Repair Services

The stars might refuse to shine, but we will never refuse to repair! We repair minor accidental damages from dusk to dawn without any hassle. You can simply get in touch with us; we will get your car picked at night, repair it and deliver it by morning at your door step.We offer these services in 13 cities at present!

Transparency at its best

Transparency holds the key to our transactions, and you can be assured of getting the seamless claim procedures. With 30 Minutes*** claim approval & online claim intimation via QR code we’ve been winning customer smiles everywhere.

All the support you need- 24 x 7!

Get hassle-free support every day, every week whenever and wherever you need! With our dedicated in-house claims team and customer support, we ensure every query is responded .Isn’t that great? To know someone has your back even in the middle of the night?

Go Paperless! Go Boundless!

Why stick to age-old time-consuming paper works when HDFC ERGO can get all your works done paperless? The online transactions make you boundless and free! Your time is valued at HDFC ERGO!

Frequently asked questions

Two Wheeler insurance offers insurance coverage against any damage to the third party and damage caused due to natural calamities and manmade events. Without insurance it would cost a lot to get your two wheeler back to its original condition, also it is mandatory under Motor Vehicles Act 1988 and the recently passed Motor Vehicles (Amendment) Act 2019 for all the two wheeler drivers to have valid two wheeler insurance at all times.
Renewal of your two wheeler online is convenient and easy. Steps to be followed include
  • Login to your account
  • Enter your details
  • Choose any Add-on’s you want to opt and
  • Make the payment
Personal Accident Insurance is a plan where the insurer provides financial compensation to the dependants of the policyholder in the scenario where the accident leads to death of the policyholder or him/her getting permanently disabled. This cover is mandated by IRDAI, it is compulsory for Owner-Driver to possess a PA cover of minimum Rs 15 Lacs, except in certain conditions. By not choosing this cover, you confirm that you hold an existing PA cover or you do not possess a valid driving license. If this declaration is not found to be true, the Company may repudiate the claim, if any, towards "Own Damage and / or PA"
You can easily renew your expired policy online, there is no inspection required and all you have to do is to login the details of your policy. Once entered the insurer let’s you know the renewal premium. Once the payment is made, you will receive the policy copy in matter of minutes.

 

It is important that you know your two wheeler policy expiration date as it would help in renewing your policy before the expiry date. You can know about the policy expiry date by logging into your account with the insurer and visiting your policy details, alternatively you can contact the call centre for your policy details
Yes, You can. Also on online renewal, no inspection is necessary.
If you do not renew your policy before due date, your two wheeler insurance cover will expire and you stand to lose insurance coverage, any claim made during expiry period is liable to get rejected by the insurer. Also if it remains uninsured for more than 90 days, you stand to lose your accumulated No Claim Bonus.
The factors that affect the two wheeler insurance premium are
  • Model and Make
  • Year of Manufacture
  • Engine Capacity
  • Geographic Location
  • No Claim Bonus &
  • Voluntary Deductible
If you do not renew you insurance policy for more than 90 days, you stand to lose your accumulated No Claim Bonus. The bonus accrued at the end of every policy year is Details Discount No claims in preceding 1 year 20% No claims in preceding 2 year 25% No claims in preceding 3 year 35% No claims in preceding 4 year 45% No claims in preceding 5 year 50%
You can change your policy details online by visiting website hdfcergo.com. Visit the “Help” section on the website and place a request.click here
Yes, third party liability is a mandatory policy for all the motorists, as per Supreme Court order on September 1, 2018, it is mandatory that all the two wheelers purchased after the 1/9/2018 should have a long term third party insurance which has a 5 year policy period. click here
The type of plans available include third party liability, comprehensive insurance policy and own damage insurance plan.
The exclusions in the two wheeler insurance policy includes damages due to
  • Normal wear and tear
  • Electrical breakdown
  • Driving without a valid insurance policy
  • Driving under influence of alcohol or drugs
  • Damage to your personal property
Insured Declared Value is the maximum sum assured provided by the insurer in the event of theft or total loss of vehicle. It is calculated using the below mentioned formula Insured Declared Value = (Manufacturers listed price - Depreciation Value) + (Cost of vehicles accessories – depreciation value of these parts)Depreciation used for IDV calculation is Age of the Vehicle Depreciation % applied Less than 6 months 0% More than 6 months but less than 1 year 5% More than 1 year but less than 2 year 10% More than 2 year but less than 3 year 15% More than 3 years but less than 4 year 25%
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