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Bike Insurance FAQs

1

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.

2

How to change my two wheeler insurance policy details?

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 hello@acko.com or on call at 1860 266 2256. 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

3

How can I reduce my insurance premium?

Here are some tips to reduce insurance premium 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.

4

Can I transfer my two-wheeler insurance if I sell my bike?

Yes, it is important to be proactive about transferring insurance while selling your bike. You can transfer the two-wheeler insurance policy in the name of the buyer when you sell your bike.

5

Which documents should I carry while riding my bike?

You need to carry the following documents while riding your bike on Indian roads.

  • Valid Driving License
  • Pollution Under Control (PUC) certificate
  • Bike’s Registration Certificate (RC)
  • Photocopy/printout/soft copy of your active two-wheeler insurance policy

Ensure that all the documents are up to date. They shouldn’t be expired. If you are carrying physical copies, make sure to keep them safe from getting damaged. Along with the physical copies, it is better to keep soft copies of the documents as well.

6

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 www.acko.com
  • 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 1860 266 2256 or send an email at hello@acko.com if you have any queries regarding raising a two-wheeler insurance claim.

7

What is the endorsement procedure in bike insurance?

Here’s the endorsement procedure involved in bike insurance.

  • You can get in touch with us by sending an email at hello@acko.com or by calling us on 1860 266 2256 to initiate an endorsement in your two-wheeler insurance policy.
  • Share details such as policy number, name, etc.
  • Explain the new changes needed
  • Comply with the additional requirements (if any)
  • Download revised policy (post endorsement)
  • Verify the new policy document

It might not be possible for all kinds of changes to be made via the endorsement process. Therefore, it is necessary to have a detailed discussion with the support team when it comes to making an endorsement in the policy document.

8

Whom should I approach in case of a complaint?

You can raise a complaint by sending an email at hello@acko.com or by calling us on 1860 266 2256.

9

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.

10

Should I purchase two-wheeler insurance for my second-hand bike?

Yes, purchasing two-wheeler insurance is mandatory for new as well as old bikes as per The Motor Vehicles Act, 1988. Here’s how you can buy Comprehensive two-wheeler insurance for your second-hand bike.

  • Visit www.acko.com
  • Share details about your bike (make, model, variant)
  • Select Insured Declared Value (IDV)
  • Select insurance plans (Third-party only, Comprehensive, Add-ons, Long-term)
  • Make online payment
  • Download policy

There’s not much difference when it comes to insuring a new bike and a second-hand bike. However, make sure to share the details accurately to get a suitable quote.

11

What to do if a vehicle meets with an accident outside the area / city / state from where policy is issued?

Any motor policy is serviceable pan India irrespective of where the policy is purchased. Beyond city limits, you will not have a pick up and drop facility. Contact Center will suggest an Acko network garage/workshop. An external surveyor will be appointed for the assessment of loss.

12

In a partial theft case, is FIR mandatory?


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

13

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..

14

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. We may need to inspect your two-wheeler in case of some Add-ons.

15

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 intimate 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.

16

What do you mean by a new age company?

At Acko, we are completely redefining insurance. We have transformed something that was boring and done only because it was mandatory, into a convenient product with quick and top-notch services. We are a new age insurance company as we provide better prices, prompt service, and a completely hassle-free experience.

17

What is the difference between a Third-party Liability Insurance and a Comprehensive Two-wheeler Insurance policy?

A Third-party Liability insurance policy is mandatory as per The Motor Vehicles Act, 1988. It is designed to help third parties that might be affected by your bike in case of an accident. On the other hand, a Comprehensive bike policy includes the mandatory Third-party Liability insurance and offers wide insurance coverage for your vehicle. With a Comprehensive policy, your vehicle will be insured against risks such as accidents, theft, calamities, etc.

18

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


Insurance companies primarily determine two-wheeler insurance premium 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.

19

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).

20

What is the meaning of IDV?


IDV means Insured Declared Value. It is the value you will receive in case your insured two-wheeler suffers total damage or is stolen. Note that It is not your bike’s resale value.

21

What is the meaning of 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.

22

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.

23

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. Compulsory Deductible is a nominal amount that you have to pay. By opting for Voluntary Deductible, you tell the insurance company that you will be paying Compulsory + Voluntary Deductible in case of a claim. This is done to reduce the insurance premium. A voluntary deductible might help in reducing the cost of a bike insurance policy but it also results in a lower claim amount in case of damage.

24

What is the meaning of No Claim Bonus?

No Claim Bonus is a discount given to you by the insurance company while renewing your two-wheeler insurance policy. It is a bonus/reward for not raising a claim during your policy period.

25

What if my two wheeler insurance policy is misplaced?


You can download your two-wheeler insurance policy by logging into your Acko account. That soft copy is a valid policy document.

26

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

27

Is two-wheeler inspection necessary all the time?

Two-wheeler inspection is not necessary all the time. However, your bike might need an inspection if there is a break between your policy expiry date and your policy renewal request.

28

How will the depreciation of vehicle parts be calculated?

Depreciation will be calculated as per following:

  • Rubber, Nylon, Plastic Parts, Tires and Tubes, Batteries, and Air Bags: 50% depreciation
  • Fiberglass components : 30% depreciation
  • All parts made of glass : 0 depreciation
  • Material cost of the paint in case of a paint job: 50% depreciation

Note: If a consolidated amount is charged for the job, then 25% of the total cost will be considered as the material cost.

29

How will the depreciation of parts depend on vehicle age?

This is how depreciation is charged as per the vehicle’s age:

  • 6 months or less : 0% depreciation
  • Between 6 months and 1 year : 5 % depreciation
  • Between 1 and 2 years : 10 % depreciation
  • Between 2 and 3 years : 15 % depreciation
  • Between 3 and 4 years : 25 % depreciation
  • Between 4 and 5 years : 35 % depreciation
  • Between 5 and 10 years : 40 % depreciation
  • More than 10 years : 50 % depreciation

30

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.

31

Can I raise a claim if my two-wheeler is involved 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.

32

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.

33

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.

34

How does Bike Modification Impact Two Wheeler Insurance Policy?


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.

35

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

36

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

You can easily get quote of your bike insurance policy by visiting www.acko.com. 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.

37

Which is the best type of bike insurance?

There’s no one standard plan that can be termed as the best option as every policy seeker’s requirements might be different. However, a comprehensive plan does provide adequate coverage since it covers both - Third-party liabilities and Own Damage i.e. damage to the insured bike. Also, with this type of bike insurance, you can choose suitable Add-ons that can extend the scope of your policy.
Here’s a list of different types of two-wheeler insurance policies you can purchase.

  • Third-party Liability
  • Comprehensive Two-wheeler insurance policy


Here are two variations of the plans.

  • Comprehensive Two-wheeler insurance policy with Add-ons
  • Long-term policy with the above-mentioned coverage

38

Where can I check the exclusions of a bike insurance policy?

The exclusions of a bike insurance policy are mentioned in detail in the policy wordings. It is extremely important to read and understand the exclusions of your bike insurance plan before purchasing the policy. If there are any doubts pertaining to exclusions in your bike insurance policy, it is suggested to get them clarified.
Here’s a list of common exclusions when it comes to raising a two-wheeler insurance claim.

  • Riding under the influence of intoxicating substance
  • Riding without an active insurance policy
  • Riding without a valid driving license
  • Damage due to nuclear risks
  • Damage due to war

39

Is an expensive two-wheeler insurance policy always the best one?

The price of a bike insurance policy depends on multiple factors. It depends on the type of plan you choose and the extent of coverage it provides. A plan offering wide coverage will be more expensive than the plan that offers limited coverage. However, an expensive policy might not be the best one as one might not require that much coverage.

40

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.

41

How does the age of the bike affect its depreciation rate?


Depreciation is the reduction in the monetary value of an asset. Each year as the bike ages, its depreciation increases. The depreciation rate is calculated as per the table stipulated by The Motor Tariff Act.

42

Is considering IDV important while choosing a Third-party Liability Insurance policy?

No, you are asked to set the IDV of your bike only while purchasing a comprehensive insurance policy. Setting the right IDV is important for calculating the 'own damage' component of your bike. Since Third-party Liability Insurance does not deal with Own Damage cover, considering IDV is not required.

43

What are the exclusions when it comes to IDV calculation?

IDV is calculated with respect to the bike's invoice value. It does not include the money you spend on registering your bike or for an insurance policy. Thus, these things are excluded while calculating the IDV of your bike.

44

What does ‘cashless' mean in Cashless Garage?

Insurance companies have tie-ups with garages for 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 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.

45

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.

46

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.

47

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.

48

Personal Accident Cover is included in which type of two-wheeler insurance policy?

A basic Personal Accident Cover is included in Third-party as well as a Comprehensive plan. The limit of this cover was recently increased to Rs. 15 lakhs. The premium for this cover amounts to Rs. 750, which is included in the mandatory policy. This directive by Insurance Regulatory and Development Authority of India came with respect to a Madras High Court judgement in the year 2017.
The amount of coverage offered under a basic Personal Accident Cover was increased to provide financial security to the owner/driver of the vehicle in case of an accident causing permanent disability or loss of life.

49

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. Note that your bike insurance premium will increase if you include this Add-on in your plan.

50

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. Besides, it also offers Personal Accident Cover of Rs. 15 lakhs. You also have the option of purchasing suitable Add-ons for enhanced coverage along with a Comprehensive bike insurance policy.

51

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.

52

What is covered under two wheeler insurance?

Your two-wheeler insurance coverage will depend upon the type of policy purchased. You can either opt for the basic Third-party cover or go for a Comprehensive two-wheeler insurance cover. Here’s an overview of the coverage offered by these two policies.

Third-party cover:

  • Third-party legal liabilities
  • Damage to third-party person
  • Damage to third-party property
  • Personal Accident Cover



Comprehensive cover:

  • Third-party cover
  • Damage to own vehicle

It is suggested to go through the policy document thoroughly to understand the coverage offered by your two-wheeler insurance policy in detail.

53

How two wheeler insurance premium is calculated?

Two-wheeler insurance premium mainly depends upon 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 manufacturing year
  • Check for No Claim Bonus and risk profile from claim history
  • Analyze risk associated with the shared PIN code
  • Match premium as per Insured Declared Value

54

What are the changes I can make in my two wheeler insurance policy?


You can make the following changes in your two-wheeler insurance policy.

  • Change personal details such as name, address
  • Change bike-related details such as registration number
  • Choose different coverage
  • Make changes to include Add-ons in the policy

It is suggested to think through the purchase before buying the policy so that you don’t have to make a lot of changes after the policy has been purchased.

55

Which factors will affect my bike insurance premium quote while buying two wheeler insurance online?


Here’s a list of factors that will have a direct impact on your Comprehensive two-wheeler insurance quote.

  • Make, model, variant of the bike
  • Age of the bike
  • PIN code where the bike is likely to ply
  • Claim history
  • Insured Declared Value (IDV)
  • Type of cover
  • Number of Add-ons
  • Anti-theft devices
  • Deductibles

It is suggested to think through the purchase before buying the policy so that you don’t have to make a lot of changes after the policy has been purchased.

56

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 accident
  • Any other supporting documents

57

How can I renew expired bike insurance policy in case of 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 website
  • Share personal and bike-related details or Login and renew
  • Co-ordinate time in case of bike inspection
  • Complete payment after inspection report is positive
  • Verify details
  • Download policy

58

What is long-term two wheeler insurance policy in India?


In terms of duration, there are two types of two-wheeler insurance policies in India; short-term and long-term. Short-term policies are annual policies, they expire after a year and need to be renewed on a yearly basis. Long-term policies are active for more than a year.

Usually, long-term policies last for three to five years. You do not need to worry about renewing your two-wheeler policy on an annual basis if you have a long-term policy. Besides, you will be safe from Third-party Liability policy’s premium fluctuations as you will be purchasing the policy for a longer duration at the price available at that time.

59

Why should I compare two wheeler insurance policies?


Comparing two-wheeler insurance policies helps you to understand the options available in the market. Once you know your requirements and the choices, you can make a beneficial decision. You should not only compare policies offered by different insurers but also compare between the plans offered by the same insurer.

You should compare two-wheeler insurance policies to avail the following benefits.

  • Get adequate coverage at a low premium
  • Get better services
  • Get ideal policy
  • Get extensive coverage with relevant Add-ons
  • Helps in making an informed choice

60

How to transfer two wheeler insurance ownership?

Transferring two-wheeler insurance ownership is a crucial step to be followed in the bike transfer process. Whether you are selling the second-hand bike or buying one, it is better to complete this process at the earliest.


Here’s the process for transferring two-wheeler insurance policy.

  • Download Form 29/30 for seller/buyer
  • Fill the form and submit to the Regional Transport Office (RTO)
  • Attach relevant documents with the form as requested (if any)
  • Get a receipt from the RTO for the forms and proof of sale
  • Share the receipt with your insurance company
  • Make payment (if any)
  • Receive policy in email/courier

61

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

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 1860 266 2256 or send an email at hello@acko.com for assistance.

62

What is the validity of a two wheeler insurance policy?


The validity of a two-wheeler insurance policy is either for a short-term (one year) or long-term (more than 1 to 5 years). It is a period during which the policy is active. You need to renew the validity of your two-wheeler insurance policy before the expiry date to keep it active.
No insurer will settle a claim if the event for which the claim is raised occurred while the policy was invalid. Make sure to check the validity of a two-wheeler insurance policy before purchasing it and renew the policy before its validity expires.

63

How will my two wheeler policy be affected if I change my job or change my location?


Two-wheeler insurance policies are applicable all over India. Therefore, even if you move from one Indian state to another, your bike’s insurance policy shall remain functional. However, you might have to make some changes in your policy.
For example, if you are moving from Mumbai to Bengaluru, you will have to get a No Objection Certificate from Mumbai RTO and submit the same in Bengaluru RTO (if you want to make changes in the bike’s RC book).
Your insurance premium might also change depending upon the location. This is usually done if you plan to move permanently in a different Indian state. If you are moving for say one month, your two-wheeler insurance policy will not be affected.

64

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.

65

How to renew bike insurance online?

Here are the steps to follow to renew bike insurance online

  • Visit 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.

66

How to check bike insurance online?


You can check bike insurance online easily by visiting your preferred insurance company’s website and following the purchase journey. Here’s how you can check Comprehensive bike insurance online.

  • Visit website
  • Share personal and bike-related details
  • Declare Insured Declared Value (IDV)
  • Select plan
  • Get free quote

You can check multiple quotes by changing the selected plans and modifying other details to know the premium charged and make an informed choice.

67

How to find my bike insurance policy number?


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 1860 266 2256 or send an email at hello@acko.com for assistance.

68

How to apply bike insurance online?

You can apply for a bike insurance policy online from your smartphone, laptop, desktop, etc. anytime, anywhere. Here’s how you can do it.

  • Visit insurer’s website
  • Share personal and bike-related details
  • Select preferred plan based on coverage and premium
  • Check quote
  • You can buy the policy instantly if you are comfortable with the price.

Nowadays, you do not need to apply and wait, you can purchase the policy instantly. However, the insurance company might inspect your bike if there’s a huge gap between previous policy expiry and new policy purchase date.