Two Wheeler Insurance

Third-party insurance is mandatory by law and not having it may lead to monetary penalties or imprisonment. However, it doesn’t protect you from damages to your bike in case of accidents, theft, fire, man-made and natural calamities such as earthquakes, floods, etc. Comprehensive bike insurance protects you against financial liabilities arising due to accidental damages to your bike and includes the mandatory Third-party cover as well.

Yes, you can opt for add-ons only with the Comprehensive two-wheeler insurance and not with Third-party bike insurance.

Endorsement means making changes to the policy’s terms and conditions. If the policyholder needs to change details such as address, name, etc., it can be done through the endorsement in the bike insurance policy. There are two types of endorsements. While the premium bearing endorsement requires the policyholder to pay an additional premium, the non-premium bearing endorsement may require the policyholder to pay a lesser premium.

Apart from a higher IDV at a competitive price, insurance providers who provide exceptional customer service, easy and instant buying/renewing process are usually considered one of the best bike insurance companies in India. Furthermore, the insurer should be able to offer hassle-free, transparent, and quick claim settlements. Also, look out for other value-added services such as cashless claims settlement, and instant repairs for minor damages.

Log in to your online insurance account to view/download soft copies of the insurance policy.

Yes, the model, the variant, and the purchase year will influence the premium and the Insured Declared Value (IDV) of your bike. 

The insurance company refers to the policy number for claims and administrative-related purposes. Here is how you can find the bike insurance policy number:

• Refer to the policy document.

• Check the email sent by the insurer.

• Log in to the online insurance account to view the policy number (website or mobile app).

• Call the customer care team.

You need to log in to your account through the insurer’s website or mobile app to view the policy period and the expiry date of the policy. Additionally, you can check the status of the policy document available in your email account. You can also call the insurance company to know the details.

The process of buying and renewing a two-wheeler insurance policy is almost similar. You can renew your bike insurance by following these easy steps:

Step 1: Visit www.acko.com

Step 2: Use the premium calculation tool

Step 3: Enter a few details like bike model, purchase year, and previous policy details

Step 4: Select plan and add-ons and renew it.

It depends. If you wish to convert the Third-party plan to a Comprehensive plan and vice versa, it is difficult. However, you can buy a new policy with a different plan at the time of renewals.

The break-in period is the period between the expiry date and the date when you renew the policy. During this period, your policy remains inactive and you cannot raise any claims. Post the break-in period, you will lose all the accumulated benefits. A bike insurance policy bought after the break-in period is considered a new policy and does not carry forward the benefits of the old policy.

The approximate market value of the bike is known as the Insured Declared Value (IDV). This is the maximum amount you will receive from us in case of a total loss of your bike. It is important to check the IDV before purchasing the insurance policy.

It is the amount you pay to the insurance company (in this case ACKO) for financial coverage for claims being made against the insurance policy.

Depending upon the type of damage and the type of insurance policy, the list of documents may vary. Here is an overview of the documents required while filing a claim:

• Policy document

• Valid Driving Licence (DL)

• Registration Certificate (RC) of the insured bike

• FIR (if required)

• Pictures of damages taken at the time of the mishap

• Other supporting documents

Under the cashless claims, the insurer will pay the replacement or repair costs directly to the network garage. As for reimbursement claims, you can get the bike repaired at a garage of your choice and then raise a claim for the reimbursement of the cost. You will have to submit the original repair bills, payment receipts and other supporting documents for a hassle-free process.

The primary role of the surveyor is to inspect and assess the damages to the insured bike and of the third party (if required). Post the assessment, the surveyor will submit the report to further process the claim.

No, you cannot file a claim during the grace period as the policy is inactive during that period. It is advisable to renew bike insurance online for a hassle-free experience.