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HDFC ERGO Two Wheeler Insurance

HDFC ERGO General Insurance Company is a joint partnership between HDFC Ltd.- one of India’s premier Housing Finance Institutions and ERGO International AG.- the primary insurance entity of Munich Re Group. This company deals in a vast range of insurance categories ranging from motor, health, travel, home, property, and marine insurance. Out of all the insurance products offered by this company, HDFC ERGO two wheeler insurance plans are very popular and high in demand in the Indian insurance market. Given below is a brief discussion of these plans. Let’s take a look.

Key Highlights of the Company

Incurred claim ratio (2019-20)79.21
Network Garages7600+
Solvency ratio (2019-20)1.77
Premium Underwritten (2019-20) Rs. 3,388.07 crore
Equity Share CapitalRs. 605.42 crores (as on 31st March 2019)
Corporate Address1st Floor, HDFC House, 165-166 Backbay Reclamation, H. T. Parekh Marg, Churchgate, Mumbai – 400 020.
Recent Awards & Recognitions
  • ICAI Awards in year 2015-16 for Excellence in Financial Reporting
  • CMS Outstanding Affiliate World-Class Service Award 2015
  • Best Insurance Company in Private Sector General Award 2014 by the World HRD Congress at ABP NEWS
  • Best General Insurance Company in India Award 2014 by International Alternative Investment Review

Two Wheeler Insurance insurance plans offered by HDFC ERGO

HDFC ERGO offers a variety of insurance plans that provides customers with comprehensive protection for their two wheelers. The list of two wheeler insurance plans provided by the company is given below. Let’s have a look at it.

1. Comprehensive Two Wheeler Insurance Plan

This two wheeler insurance plan provides coverage against damages done by a policyholder to his own two wheeler and to a third party person/ property as well. With this plan, customers can stay protected against a variety of risks including accident, theft or any damage done to a two wheeler.

Features:

  • Wider coverage: This policy provides customers with comprehensive coverage by offering a range of two-wheeler insurance policies that include single year & long-term comprehensive insurance, single year and long-term liability-only policy.

  • Special discounts: A special feature of this plan is that it provides customers with some really good discounts that can range upto 70%.

  • No limits on claims: With this two wheeler comprehensive insurance policy, customers also have the flexibility to make unlimited claims.

  • Add on benefits: In addition to the above listed benefits, this plan also provides some additional riders including zero depreciation cover and emergency assistance cover.

2. HDFC ERGO Third Party Cover

This insurance policy is a basic type of two-wheeler insurance plan as it provides protection against damages and losses caused by the policyholder’s two wheeler to a third party person or property. This implies that this policy covers the claims raised by the injured person in case of an accident committed by the policyholder.

Features:

  • Personal accident cover: In order to protect customers against any medical emergencies, this plan comes with a compulsory personal accident cover (CPA) that is worth Rs 15 lacs.

  • Third-party property damage: This is the most important and special feature of this plan. It protects customers against the financial liabilities that can be incurred in case of third party property damages.

  • Third-Party Liability Person: Another very useful feature of this policy is that it provides customers with protection against medical expenses if their vehicle causes injuries to any third person.

3. HDFC ERGO Stand Alone Own Damage Cover

Standalone Own Damage cover is a type of two wheeler insurance cover that is designed for customers who already have a third party insurance policy, and want a plan to protect their two-wheeler’s damage.

Features:

  • Fire & explosion: This insurance plan protects the two wheeler against damages arising due to fire or an explosion.

  • Calamities and Theft coverage: Some situations like theft and natural calamities are unpredictable, and it is difficult to prevent them from happening. That is why this plan helps in keeping the policyholder’s finances secured by providing cover for the theft-related and natural calamities related damages.

  • Personal Accident Cover: Another important advantage of this plan is that it comes with a compulsory personal accident cover worth Rs 15 lakhs for any medical emergency.

4. Cover for Brand New Bikes

This is a unique type of two wheeler insurance plan that provides 1 year coverage against damage done to the policyholder’s two wheeler vehicle along with a 5 year cover against damages to a third party person/ property.

Reasons To Go For HDFC ERGO Two Wheeler Insurance Plans

  1. Online Buying Process: One of the best parts about buying a two wheeler insurance policy from HDFC ERGO is that this company operates a very simple and convenient online process for selling its insurance products to the customers. This helps the customers to save time and make quick transactions even from the comfort of their house. All they have to do is fill and submit the online form and make payment through the secured online gateways.

  2. Emergency vehicle repair services: If we talk about two wheeler insurance, emergency repair services form an integral part of it. HDFC ERGO offers one of the best and fastest repair services that include emergency roadside assistance, overnight car repair and doorstep repair services.

  3. Network Garages: To provide customers with utmost ease, HDFC ERGO operates a PAN India network of more than 7600 cashless garages which helps customers in availing easy and convenient roadside assistance.

  4. 24×7 Support Service: In addition to the above stated factors, another valuable benefit of HDFC ERGO is that this company has a dedicated in-house claim and customer support team that ensures that the customers are provided with 24×7 consistent support services.

How To Calculate HDFC ERGO Two Wheeler Insurance Premium?

Customers can now easily get premium estimates for all HDFC ERGO two wheeler insurance plans. Similar to the buying process, the company also allows its customers to calculate their insurance premium online and get instant price quotes for their insurance policy. Given below are the steps to calculate HDFC ERGO two wheeler insurance premium online-

  1. Visit the official website of HDFC ERGO General Insurance.
  2. Click on the ‘Explore’ tab and select ‘Bike/Scooter Insurance’.
  3. Enter your registration number.
  4. Select your policy cover options.
  5. Submit your previous policy and No claim bonus status.
  6. The bike insurance quote will be displayed on your screen.

To help you understand better, we’ve created below a tabular representation of sample premium rates of a 1 year insurance plan for Hero Honda Splendor Plus Bike. Please note that the premium prices here are exclusive of taxes and vary depending upon factors like age of the vehicle, type of plan chosen and vehicle registration city.

Policyholder’s nameType of planRegistration yearPremium amount
Rohan MishraComprehensive2010Rs. 854
Madhav SinghComprehensive2015Rs 852
Vaibhav RastogiStandAlone Own Damage2018Rs 213
Sarthak AwasthiStandAlone Own Damage2020Rs 349

How To Buy HDFC ERGO Two Wheeler Insurance Plans?

As discussed above, HDFC ERGO adopts a very easy and simple buying process for its two wheeler insurance plans. Customers can now buy these plans through the online method. Given below are the steps of the same-

  1. Visit the official website of HDFC ERGO General Insurance.

  2. Click on the ‘Explore’ tab and select ‘Bike/Scooter Insurance’.

  3. Enter your vehicle registration number and click on the ‘Get a quote’ tab.

  4. Submit the vehicle details such as Bike brand, variant, and registration year .

  5. Customize the plan according to your needs.

  6. Check the premium and click on ‘Confirm and proceed’.

  7. Fill in your required details and pay the premium amount.

  8. Once the payment is made, the company will mail the policy documents on your registered email address and Whatsapp contact number.

Customers also have an option to visit HDFC’s branch to purchase two-wheeler insurance. In case they face any trouble, they can freely get in touch with the experts at Probus Insurance.

Renewal Process of HDFC ERGO Two Wheeler Insurance Policy?

Similar to the buying process, customers can now get their HDFC ERGO two wheeler insurance policies renewed online within just a span of minutes. All they have to do is follow the below stated steps:

  1. Visit the official website of the company.

  2. Click on the ‘Renew’ tab and select ‘Bike/Scooter Insurance’.

  3. Click on ‘renew existing HDFC ERGO Policy’.

  4. Fill in the required details such as old policy details, vehicle number, old policy number.

  5. Click on the renew button and pay the premium online.

The company will send the renewed policy on your registered email address or via Whatsapp.

HDFC ERGO Two Wheeler Insurance Claim Process

HDFC ERGO adopts a very simple process that allows customers to experience a hassle free and quick cashless claim settlement process. The claims for HDFC ERGO health insurance plans can be made through two methods- Cashless Claims and Reimbursement Claim Methods. Let’s take an overview of both these claim processes.

Cashless Claim Process

Under the cashless claim process, the insurance company pays for all the repair work on behalf of the policyholder. However, this claim can only be availed at any of the insurance provider’s network garages. The network garage send’s the policyholder’s bill directly to the claim team of HDFC ERGO and after verifying all the details, the payment is made by the company.

Reimbursement Claim Process

Under the reimbursement claim procedure, the policyholders are required to pay for the damages and get their two wheeler repaired at their preferred garage. Later on, they can get the repair amount reimbursed by the insurer. To do this, the policyholder is required to get all their original bills, and receipts verified.

Frequently Asked Questions

1. What are the documents required to buy HDFC ERGO two wheeler insurance online?

Given below is the list of documents required to buy bike insurance online:

  • Identity proof including driving license/passport/Aadhar card/PAN card

  • Address proof including driving license/passport/bank or post office passbook.

  • Recent passport size photograph

  • Valid driving license,

  • Registration certificate of the bike

2. Are there any exclusions in HDFC ERGO two wheeler insurance plans?

Yes, HDFC ERGO insurance company excludes a few events under which no claim amount is offered to the policyholder. These events include:

  • Damage done to the vehicle due to drunken driving or during the absence of a valid driving license

  • Wear and tear

  • Ageing of the vehicle

  • Damages to tires and tubes (unless damaged due to an accident)

  • Mechanical or electrical breakdown and failure

  • Theft of accessories (unless the bike is also stolen)

  • Losses or damages happening outside the country.

3. Can my two wheeler claim request get rejected?

Generally, it is advised to speak with the customer support staff if the claim request gets rejected. However, given below is a list of some common reasons related to claim rejections-

  • Policy lapse,

  • Incomplete or false information,

  • Loss that is not covered in the policy,

  • Filing the claim after the deadline,

  • Driving without a valid Driving License,

  • Driving in an intoxicated state

  • False claims

4. Is it possible to make changes into a two wheeler insurance policy after purchasing it?

Yes, you can contact the company and request them to include the required changes in your two-wheeler insurance policy.

5. I’ve an existing HDFC ERGO two wheeler policy. Is it possible to replace my new vehicle in my current policy?

Yes, it is possible to transfer your current insurance policy to your new vehicle. All you have to do is inform the company about the change in the vehicle and pay the difference in the premium amount if any.