New Delhi: In the fast-paced world of biking adventures, safeguarding your Hero bike is as crucial as the wind in your hair. The shield that stands between you and unexpected financial jolts is none other than your two-wheeler insurance. Let’s embark on a journey to unravel the layers of protection provided for Hero insurance.
Understanding the Basics Regarding bike insurance, two primary options are comprehensive insurance and third-party insurance. Let’s break down these options to help you make an informed decision.
Comprehensive Bike Insurance Comprehensive insurance, also known as a private package policy, provides extensive coverage for your own damages to your bike. It combines third-party insurance and coverage for damages to your bike due to accidents, theft, vandalism, fire, and natural calamities. Additionally, it includes protection against third-party property damages or injuries caused by your bike. Enhance your coverage with add-ons like zero depreciation, roadside assistance, and more.
What Comprehensive Insurance Covers:
* Damages from accidents, vandalism, fire, theft, and natural disasters.
* Third-party liabilities (injuries, death, and property damage).
* Personal Accident cover that must be bought separately.
What it Doesn’t Cover:
* Wear and tear, aging, and depreciation.
* Mechanical or electrical breakdown.
* Damages to tubes and tires.
* Driving without a valid license or under the influence.
* Loss or damage due to mutiny, war, or nuclear attack.
Third-Party Bike Insurance
The third-party bike insurance plan is mandatory as per the Motor Vehicles Act and covers you against third-party losses. While it does help you adhere to the law, it does not offer coverage against financial losses arising out of accidental damage to your vehicle. The Comprehensive Plan includes both third-party coverage and own damage.
What Third-Party Insurance Covers:
* Third-party injuries/death.
* Third-party property damages.
* Personal Accident Cover for the owner-driver.
What It Doesn’t Cover:
* Damage to your bike or belongings.
* Coverage cannot be enhanced with add-ons.
Comprehensive Bike Insurance vs Third-party Bike Insurance
The table below gives a consolidated view of the types of Hero insurance and their offerings:
Enhancing Coverage With Hero Insurance Add-ons
Add-ons enhance standard insurance plans at an additional cost. Some noteworthy add-ons include:
1. Zero Depreciation Cover: This cover ensures that when making a claim, the insurance company doesn’t factor in the depreciation rate of the bike. While slightly more expensive, it proves highly beneficial during crises.
2. Roadside Assistance Cover: Offering on-road support, this cover assists policyholders in case of breakdowns. Services include towing, taxi arrangements, and even hotel bookings. It’s especially recommended for those with long commutes or frequent road trips.
3. Passenger Cover: In an accident, the rider is protected by compulsory personal accident cover. However, this cover doesn’t compensate the pillion rider. With this add-on, you can ensure protection for the pillion rider as well.
4. Consumables Cover: Certain bike components, like nuts, bolts, and coolant, are one-time use items. Despite their small size, replacing them can accumulate high costs. A consumables cover takes care of these expenses.
5. Engine Protect Cover: Standard insurance policies often don’t compensate for engine damage. With this add-on, you can claim for damages to the bike’s engine, particularly useful for those residing in flood-prone areas.
6. Return to Invoice Cover: In cases of total damage, insurance companies typically compensate based on the Insured Declared Value (IDV), factoring in depreciation. However, with the return to invoice cover, the compensation paid matches the original cost of the bike as per its invoice.
Note: Add-ons will vary depending on your insurance policy
Choosing the Right Bike Insurance Plan
Factors to consider when selecting a bike insurance online :
1. Policy Coverage: Understand the coverage offered and choose based on budget and requirements.
2. Add-On Covers: Evaluate additional benefits like zero depreciation, personal accident, roadside assistance, etc.
3. Premium Amount: Consider the premium amount in relation to coverage; affordability is key.
4. Available Discounts: Explore discounts and offers provided by insurance companies.
5. Terms and Conditions: Scrutinise policy agreements for clarity on coverage and exclusions.
Bike insurance serves as a crucial safeguard against financial uncertainties arising from accidents and damages. The type of insurance plan selected depends on individual preferences, budget constraints, and coverage requirements. By understanding the nuances of bike insurance, individuals can make informed decisions, ensuring their bikes are adequately protected on the roads. Always remember a well-chosen insurance policy is a shield that provides peace of mind in every ride.
Visit ACKO to kick-start your journey towards comprehensive protection for your Hero bike today!
Frequently Asked Questions (FAQs)
Q. How can I purchase Hero bike insurance online?
A. By using ACKO’s mobile app or website, you can purchase a bike insurance policy. You can also compare plans and purchase bike insurance online. Provide a few bike-related details, select a plan, pay the premium, and receive an email with the policy.
Q. What is the online process for renewing Hero insurance at ACKO?
A. Customers of ACKO can renew their policies online without any paperwork by visiting the website or using the mobile app to log into their account.
Q. How can I renew my expired policy for Hero bike insurance online?
A. You can start the renewal procedure for an expired bike insurance policy by logging into your account on our website or the ACKO app. Our customer support staff will walk you through each step. Before the policy may be renewed, your bike might undergo an inspection. Please be aware that if you don’t renew the coverage before it expires, it remains inactive. Furthermore, whatever NCB you have accrued will be valid for a full year after that.
Q. Does a bike insurance renewal require an inspection?
A. Inspection is not necessary if you renew the coverage before it expires. But before the plan may be renewed, your bike might be examined if the coverage has expired.