Bike Insurance FAQs

Once available, can add-ons be added in the middle of the policy period?

Yes, you can add Add-ons in the middle of the policy. In case of some add-ons, we may need to inspect your two-wheeler.

Is there a limit on the number of add-ons I can purchase?

You can purchase any number of add-ons, there’s no limit. However, it is advised that you buy only those add-ons that meet your requirements. This will help you to keep your two-wheeler insurance premium from rising, as add-ons increase the premium.

What are add-ons in two wheeler insurance?

Add-ons are additional covers that you can purchase to strengthen your Comprehensive Two-wheeler Insurance policy. Add-ons usually cover risks that are not covered under a standard Comprehensive policy. Make sure to go for add-ons that meet your requirements and enhance your insurance coverage.

What is PA cover in bike insurance?

PA cover, or Personal Accident Cover in bike insurance, financially aids the dependents in case of the death of the policyholder. It also provides a financial cushion if the policyholder meets with an accidental injury. 

What is Return to Invoice in bike insurance?

RTI or Return to Invoice Cover in bike insurance provides the claim amount based on the exact invoice that you paid at the time of buying the bike. 

What is bike insurance IDV?

IDV in bike insurance stands for the Insured Declared Value. It is the maximum amount that your insurance company will pay off in case your bike sustains total damage or loss.

What is the meaning of depreciation in bike insurance?

Depreciation means the reduction in the value of an asset due to wear and tear over a period of time. With regards to two-wheeler insurance, this value is calculated as per the depreciation rates provided by the Insurance Regulatory and Development Authority of India (IRDAI).

What is bike insurance NCB?

NCB or No Claim Bonus is a reward given to the policyholder in case no claim is raised in a given year.

What is the meaning of the policy period?

Policy period is the duration for which your insurance policy is active. Make sure to renew your two-wheeler insurance before the expiry of the policy period to stay insured and avoid legal hassles.

What is the meaning of bike insurance deductible?

Deductible means the amount of money payable by you in case of a claim. There are two types of Deductibles, Compulsory and Voluntary.

What does ‘cashless' mean in Cashless Garage?

Insurance companies have tie-ups with garages for the smooth processing of claims. Such garages are referred to as network garages. If you get your bike repaired from a network garage, you can avail of cashless repairs. In this process, you do not need to worry about collecting physical bills, submitting the paperwork for raising a claim, and paying money upfront. Your insurer coordinates with the garage, making the process hassle-free for you. Note that the process is not 100% cashless claim, as you have to pay the deductible amount.

What is zero depreciation in bike insurance?

Zero Depreciation is an Add-on that you can purchase with a Comprehensive two-wheeler insurance plan. Usually, when you raise a claim, the insurance company first deducts the applicable depreciation (reduction in value due to wear and tear) amount from the claim amount and then settles the claim. With this Add-on, the depreciation amount will not be taken into account, and you shall receive a comparatively higher claim amount.

What is comprehensive bike insurance?

As the name suggests, Comprehensive bike insurance offers a wide-ranging cover against natural and man-made calamities, fire, theft, and accidents. It includes the mandatory Third-party Liability coverage so that you stay on the right side of the law..

What is third party insurance for bike?

Third-party bike insurance or Third-party liability insurance as it is commonly referred to is a mandatory insurance policy that covers third parties involved in a bike accident. In insurance parlance, the policyholder is the first party, insurance company is the second party and others affected by a bike accident are referred to as a third party. This policy insures third party injuries, damage to property, and loss of life.

What are cashless and non-cashless claims in two wheeler insurance?

There are two types of claims in two-wheeler insurance; cashless and non-cashless (reimbursement claims). A cashless claim is a process where you just have to pay the deductible amount, and the rest of the repair bill is settled between the insurance company and the garage. In case of a non-cashless claim, you will have to pay the entire garage bill upfront, and then apply for a reimbursement from the insurance company. The insurer will conduct its due diligence, and settle the claim after factoring-in the deductible amount along with other applicable charges.

Is the No Claim Bonus transferable?

Yes, No Claim Bonus is transferable if you want to choose a different insurance company at the time of two-wheeler insurance renewal.

Why is it important to declare the correct IDV?

IDV i.e., Insured Declared Value of your bike, acts as a base when it comes to calculating the cost of your bike insurance policy. If you declare a higher value, the cost of your policy will also increase. On the other hand, if you set a lower IDV, you may receive a lower claim amount in case of total loss. Thus, it is important that you set the correct IDV while buying the policy.

Does bike insurance cover engine repair?

If you have Engine Protect Cover included in your Comprehensive Bike Insurance Policy, any damage to the engine will be covered. 

Does bike insurance cover accidental damage?

Yes, bike insurance covers accidental damage.

Does bike insurance cover medical expenses?

A bike insurance policy will provide coverage for third-party medical expenses. Moreover, if you have Personal Accident Cover will also cover the medical expenses. 

Does bike insurance cover scratches?

A bike insurance policy will not provide coverage for minor scratches.

Does bike insurance cover battery replacement?

You can get coverage for battery replacement with Roadside Assistance Cover. However, you must refer to the policy wordings to check the exact coverage. 

Does bike insurance cover rat damage?

Typically, a Comprehensive Bike Insurance policy will provide coverage for rat damage. But, it is better to check with your insurer, because sometimes the policy inclusions and exclusions may vary from insurer to insurer. 

Is the bike insurance premium a one-time payment?

No, bike insurance premiums cannot be paid at once, as the policy needs to be renewed every year.

How can I avail discounts on my two-wheeler insurance premium? 

You can avail discounts on your two-wheeler insurance premium by:

• Installing anti-theft devices certified by the Automotive Research Association of India
• Opting for Voluntary Deductible
• Keeping your No Claim Bonus intact

How can I reduce my bike insurance premium? 

Here are some tips to reduce the insurance premiums of your two-wheeler insurance policy.

• Install anti-theft devices certified by the Automotive Research Association of India (ARAI)
• Select only suitable add-ons
• Choose appropriate Insured Declared Value (IDV)
• Buy two-wheeler insurance directly from the insurer to avoid paying any commission
• Ride safely and accumulate the No Claim Bonus (NCB), which is a discount offered by the insurer to the policyholder during policy renewal for not raising a claim during the previous policy period.

How do insurance companies determine the two-wheeler insurance premium?

Insurance companies primarily determine two-wheeler insurance premiums based on the make, model, age, and registration location of your bike. Your two-wheeler insurance premium is also dependent on the type of policy chosen and your claims history.

Is it okay to add tentative information while using a two-wheeler insurance premium calculator?

A two-wheeler insurance premium calculator calculates the premium based on the input provided. Your two-wheeler insurance quote will depend upon your vehicle, deductible amount, Insured Declared Value (IDV), number of Add-ons, etc. Entering tentative information will not result in the most accurate calculation. Thus, you need to add accurate information in the calculator to get the most relevant quote.

How does bike modification impact two-wheeler insurance policy premium?

Usually, modifications increase the value of your bike. They will affect the cost of its insurance policy if you choose to insure the modifications. Thus, modifications to the vehicle might increase the premium amount, depending on your choice to get them insured.

What is the cost of bike insurance?

The cost of bike insurance mainly depends on the type of policy chosen. Premium for Third-party Liability only policy is stated by the Insurance Regulatory and Development Authority of India (IRDAI). Insurance companies have individual pricing for Comprehensive plans based on the following steps.

Build a base price depending on engine capacity (CC) for Third-party coverage

• Personal Accident cover
• Number of Add-ons
• Factor-in depreciation based on the manufacturing year
• Check for No Claim Bonus and risk profile from claim history
• Analyse the risk associated with the shared PIN code
• Match premium as per Insured Declared Value

Who should you claim bike insurance from?

You should directly reach out to your insurer for a bike insurance claim.

In a partial theft case, is an FIR mandatory?

Yes, FIR / Police intimation is mandatory in partial theft.

How many times can bike insurance be claimed?

There is no limit to the number of times a bike insurance claim can be made. However, it is advisable not to raise multiple claims and keep the No Claim Bonus (NCB) intact.

How to raise a two-wheeler insurance claim?

You can raise a claim by logging in to your ACKO account. You can also raise a claim by calling or sending an email to our support team. Here’s how you can raise a two-wheeler insurance claim.

• Visit ACKO’s website
• Login to your ACKO account with your mobile number
• Click claim now
• You also have the option of going for Instant Settlement

Feel free to call 1800 266 2256 (toll-free) or send an email at [email protected] if you have any queries regarding raising a two-wheeler insurance claim.
 

Is the two wheeler insurance claim process time bound?

Yes, the two-wheeler insurance claim process is time bound. The insurance companies expect you to inform them about an accident as early as possible. However, in certain cases, the deadline can be extended by the insurer. The timelines followed vary from one insurer to another. From a policyholder’s point of view, one should call the insurance company at the earliest and acquaint oneself with the process to be followed regarding claim settlement.
 

Can I raise a claim if my two-wheeler is involved in an accident during the grace period?

No. Your insurance policy becomes inactive if it is not renewed on or before the expiry date. An inactive policy does not offer any coverage. Thus, you are not covered against risks in the grace period.
 

What happens when I renew two-wheeler insurance in time?

Here’s a list of benefits associated with timely two-wheeler insurance renewal:

• Your bike’s policy stays active
• The bike stays insured
• You are eligible for No Claim Bonus if no claims are raised
• You do not have to face bike inspection
• Charges associated with a break-in policy are not levied

What is the role of the surveyor in the claim process?

When you raise a claim, your insurance company will send a surveyor to carry out an inspection in order to understand the extent of damage caused to your bike and to other vehicles (if applicable). The surveyor will submit the report to the insurance company for further processing.

Can bike insurance be renewed after expiry?

Yes, a bike insurance policy can be renewed after expiry; however, it should be done within the grace period. 

Can one make a claim if the insurance policy had expired a day before the accident took place?

No, it is not possible to raise a claim when the policy is not active. This makes it important for you to renew your bike insurance policy in a timely manner.

Can one claim for expenses incurred to treat personal injuries?

One can claim for permanent injuries as per the terms and conditions related to the Personal Accident Cover.

What documents are required to file a claim in two wheeler insurance?

The exact documents required to file a two-wheeler insurance claim will depend upon your policy and the kind of damage faced. However, here’s an overview of the list of documents that are required to file a two-wheeler insurance claim.

• Active insurance policy document
• RC book
• Active Driving License
• First Information Report (FIR) as filed with the local Police
• Photos clicked at the time of the accident
• Any other supporting documents

How can I renew an expired bike insurance policy in case of a break-in of my policy?

The bike insurance renewal process in case of a break-in policy is same as the normal renewal process, except the bike inspection step. Depending upon the gap between policy expiry and new policy start date, the company might want to inspect the bike before renewing the policy. The exact duration varies as per company policy. Here are the steps to follow to renew bike insurance policy in case of break-in period.

• Visit the insurer’s website
• Share personal and bike-related details or Login and renew
• Coordinate time in case of bike inspection
• Complete payment after the inspection report is positive
• Verify details
• Download policy

How to renew bike insurance online?

Here are the steps to follow to renew bike insurance online

• Visit the insurer’s website 
• Share personal and bike-related details
• Select plan
• Choose Add-ons (if needed)
• Make payment
• Download policy

One should compare and buy insurance online to ensure extensive coverage at an affordable price. You can compare policies offered by other insurers as well as plans offered by one insurer. Make sure to read the policy document carefully before making the online payment.

How to change my two wheeler insurance policy details at ACKO?

It is suggested to check policy details as soon as you receive the document and initiate the changes at the earliest (if needed). You can change your policy details by getting in touch with us on email at [email protected] or on call at 1800 266 2256 (toll-free). Here are the steps to change your two-wheeler insurance policy details.

• Initiate change by calling support team
• Share details such as name, policy number, etc.
• Convey the changes that need to be made
• Comply with additional requirements (if any)
• After approval, download new policy by logging in to your Acko account
• Verify details

How will ACKO resolve claims beyond city limits?

Beyond city limits, you will not have a pick up and drop facility. In such a case, Contact Center will suggest an ACKO network garage/workshop. Once your vehicle is dropped at the garage/workshop, an external surveyor will be appointed for loss assessment.

How does ACKO offer lower prices as compared to others?

The prices are low because we spend a lot less on running an insurance company when you buy directly from us. We pass on the savings to you so that you can avail best insurance at a lower price.

Will ACKO charge me extra for towing my bike to the garage?

No. You will not have to pay extra for towing your bike to the garage.

How can I get a quote for a bike insurance policy from ACKO?

You can easily get quote of your bike insurance policy by visiting ACKO website. All you need to do is to enter basic information like the registration number of your bike, details related to your bike’s previous insurance policy and number of claims (if any), the IDV of your bike, etc. and the website shall instantly generate a quote.

How can I check the status of my two wheeler insurance policy on ACKO?

Here’s how you can check the status of your two-wheeler insurance policy.

• Login to your ACKO account using mobile number
• View policy or download policy for future reference
• Check policy status

If you face any issues while logging in, you can refer to the policy sent in your email inbox (after purchasing) to check the policy duration. You can simply call our customer support team on 1800 266 2256 (toll-free) or send an email at [email protected] for assistance.

How to find my bike insurance policy number on ACKO?

Your bike insurance policy number is referred by the insurance company for administrative and claim-related purposes. Here’s how you can find your bike insurance policy number.

• Your bike insurance policy number will be mentioned in your policy document
• To view your policy document, you can login to your ACKO account and view details
• You can also search your inbox for the bike insurance policy and check your policy number
• You can call our customer support team on 1800 266 2256 (toll-free) or send an email at [email protected] for assistance.