Compare HDFC Ergo Two Wheeler Insurance Plans

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HDFC ERGO General Two Wheeler Insurance Company

About HDFC ERGO General Insurance

A combined endeavour between HDFC Ltd. and Germany-based ERGO International AG, HDFC ERGO GICis one of the leading motor insurance providers in India holding a 34% market share in 2014. They have the highest claim settlement record in the country with a 94% ratio of successful settlements.

In February 2015, its strong claims paying abilities earned it the iAAA rating from the ICRA (Investment Information and Credit Rating Agency of India) which is the highest rating possible. The firm is spread widely across Indian cities with over a hundred branches. The company has expanded since its founding in 2002 to include services in a variety of insurance segments and reach all the major Indian cities.

HDFC ERGO Two Wheeler Insurance

HDFC presents its customers with an insurance policy that offers personal accident cover and various other additional benefits for your two-wheeler.

HDFC understands the value of your two-wheeler. Hence, this insurance policy comes with a No Claim Bonus so that you can enjoy a hassle-free insurance cover.

HDFC ERGO makes buying a policy effortless. Online insurance policy applications make the whole course of action paperless. The policy document is generated instantly, hence, making the application process immediate.

Features of HDFC ERGO Bike Insurance Policy

With ERGO, HDFC provides a long-term insurance policy that can be extended up to 3 years. This extended policy term benefits you in multiple ways:

One Policy, Multi-Year Cover:

The three-year term plan means less policy maintenance super easy. No need for you to worry about renewing the cover every year. ERGO gives you a chance to enjoy a smooth policy cover.

No Claim Bonus Protection

HDFC offers a No Claim Bonus on its insurance policies if no claim has been made by the customers throughout the term of the policy. This No Claim Bonus is applied as a discount on the subsequent premium paid.

Avoid Third Party Hikes

A three-year term plan fixes your initial third-party policy for the entire policy term. And since third party premiums increase every year as per the guidelines, you can save on the hikes by taking ERGO Two Wheeler three year plan.

Bonus Discounts

HDFC offers many additional discounts to its customers who opt for the three-year term policy cover.

Inclusions in the HDFC ERGO Insurance Policy

Damage to the Vehicle: The insurance policy covers any damage caused to the vehicle. This damage may be due to

  • theft
  • accident
  • natural disaster
  • explosions
  • acts of terror
  • accidents in transit

Insurance for Third Party Liabilities: In case of any damage caused due to the two-wheeler to a third party or any legal liability against the owner of the three wheeler, ERGO covers all such expenses provided that the loss is due to:

  • Death or injury of the third party due to accident of the insured vehicle
  • Damages caused to the third party due to the insured vehicle

Personal Cover:  ERGO Two Wheeler Insurance covers the owner of the insured vehicle for up to ₹1 lakh provided that the owner has suffered

  • a permanent disability
  • accidental death involving the vehicle

In addition to the above covers, HDFC also provides for Personal Accident damages caused to:

  • Passengers
  • Pillion passengers

Exclusions to the ERGO Two Wheeler Policy

Damages caused due to the following are excluded from the Two Wheeler Insurance Policy cover

  • depreciation of the vehicle
  • accident caused by a person with invalid or no driver’s license
  • mechanical or electrical failure
  • loss incurred due to wars, nuclear risks or riots
  • general overuse
  • in case of tyre/tube damages, the company shall be liable to 50% of the loss incurred provided that the vehicle has suffered damages too.
  • damage caused to the vehicle outside India

Amount of Sum Insured by ERGO for Your Two-Wheeler

The Insured’s Declared Value would decide the sum that is to be insured by the company for the policy cover. IDV is the value of the vehicle as per the manufacturer’s listed selling price after deducting the amount of depreciation of the vehicle for each year. In case of theft or total loss, the company pays the Insured’s Declared Value to the policyholder in terms of full settlement of the claim.

Amount to be Paid as the Premium

The amount of premium is calculated considering a number of factors:

  • Insured’s Declared Value (IDV)
  • Type of vehicle that is being insured
  • Age of vehicle being insured
  • Engine capacity
  • No claim bonus
  • Place of registration of vehicle being insured
  • Fuel type of vehicle being insured

Why You Should Choose HDFC ERGO Insurance Policy for Your Vehicle

HDFC is one of the most trusted private insurance companies in India. With its wide range of policies, the HDFC professionals strive to bring the best of services to its customers.

Multi-Year Insurance:

HDFC gives you the option of opting for a multi-year insurance policy instead of the regular insurance policies. This format for a policy helps its customers save plenty of time by not worrying about annual renewals.

Saving Time, Saving Money:

With multi-year policies, you don’t just save time, you save money too. HDFC benefits its customers with a No Bonus Claim discount on premium in each year where no claim is made.

Instantaneous Policy Application Process:

You can apply for HDFC ERGO online by logging on to their website and filling the application form at the comfort of your home. The policy document is instantly generated for you to download.

Top Notch Claim Settlement Records:

HDFC holds one of the best claim settlement records in the market with a claim settlement ratio as high as 94%. Being one of the most trusted companies in the market, it settles your claim in no longer than a time period of 24 hours.

24x7 Customer Service:

The professional staff at HDFC ERGO is available for the customers round the clock. For customers not speaking the common language, the HDFC professionals are fluent in 10 different languages.

How to Apply for HDFC ERGO Insurance Policy

Customers can choose one of the two options to apply for the HDFC ERGO Two Wheeler Insurance Policy.

Visit the nearest HDFC Branch

  • Submit the filled-in application
  • Submit the documents required
  • Pay the first premium as cheque

Log on to the HDFC website

  • Apply for new policy
  • Calculate the premium to be paid using the website calculator
  • Fill in the necessary details
  • Pay the first premium using debit/credit cards or via net banking
  • Download the HDFC ERGO policy pdf

HDFC ERGO Claim Process

The HDFC ERGO claim process is simple and easy. With a few quick steps, you can claim your two wheeler policy amount.

  • Call the 24x7 available customer centre and get a claim number generated.
  • Either opt for the cashless claim for any of the garages associated with HDFC or apply for the reimbursement claim.
  • Fill the claim form
  • Copy of the driving license of the driver at the moment of the accident
  • FIR, in case of accident, reported to the police
  • Assessment of damages

Summary of HDFC ERGO Bike Insurance Plan

  • Comprehensive insurance packages available based on profile
  • Customized pricing for two-wheeler insurance plans as per your needs
  • Instant online issuance of policies
  • Multi-year policies for hassle free experience
  • No Claim Bonuses and other discounts available
  • Add on cover for passengers and pillion passengers
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