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In recent years, Hero Electric has launched a few electric two-wheelers in India. Apart from being eco-friendly, these two-wheelers are easy to ride, noiseless and even trendy. But before riding them on Indian roads, it is crucial to buy bike insurance to financially protect yourself from accidental damages to your vehicle. Read on to know more about Hero Electric bike insurance and why you should consider buying online bike insurance.
There are two insurance plan options for Hero Electric bikes, namely, Comprehensive Bike Insurance Plan and Third-party Bike Insurance Plan. A Third-party Bike Insurance Plan is the base plan applicable for all bikes and is mandated by law. It offers financial compensation in the event of accidental injury, death or property damage to a third party. However, it does not cover damages to the insured bike.
A Comprehensive Bike Insurance Plan offers wider coverage. It covers third-party liabilities as well as offers an Own Damage (OD) cover. Under OD cover, your bike will be financially protected against theft, accidental damages and natural and manmade disaster-caused damages. You also have the option of choosing add-ons to broaden the coverage of the plan.
Personal Accident (PA) cover offers financial protection against injuries, disability or death arising from accidents. It is also mandated by law to buy one. However, it has to be bought separately, as it is not an inclusion under a Comprehensive Bike Insurance Plan.
Get insurance for Hero Electric Bike Models/Variants: Hero Electric NYX Insurance
Buying bike insurance via the offline mode may take at least a couple of weeks to complete. In contrast, if you opt for buying bike insurance online, you can complete the entire transaction within just a few minutes and from the comfort of your home.
Online, there are several insurance providers offering bike insurance. This gives you a lot of variety to choose from and allows you to compare plans easily. So, you can compare the benefits offered by multiple plans and shortlist the plan that suits your needs the best.
Since online insurance is completely digital, there is no need for submitting physical documents. You don’t have to share any photocopies or fill out any physical forms. You just have to enter your bike details and previous policy details (if you’ve had one before). That’s all!
The following are the commonly available bike insurance plans for Hero Electric bike
Third-party bike insurance is legally compulsory for all bike owners to buy. Getting caught without valid insurance will lead to serving penalties. A Third-party Bike Insurance is the most basic insurance available for bikes and offers coverage only for accident-caused injuries, death or property damage to a third party. It does not cover accident-caused damages to the insured vehicle.
Comprehensive Bike Insurance, alternatively, offers coverage for third party liabilities and additionally offers Own Damage (OD) cover. OD cover offers financial coverage against theft, accidental damages, and damages resulting from natural and man-made mishaps. A Comprehensive Bike Insurance can be complemented by buying add-ons to enhance its coverage.
The following are the usual inclusions of Hero Electric bike insurance.
Accident-caused injury, death or property damage to a third party
Damage/loss due to naturally occurring mishaps like earthquakes, floods, cyclones, etc.
Damage/loss resulting from man-made mishaps like fires, vandalism, riots, etc.
Theft of the insured electric bike
Damages to the insured bike that are beyond the scope of repair
Additional inclusions if add-ons are purchased
Note: A Personal Accident (PA) cover offers financial coverage in the unfortunate event of accidental disability or death. And is also legally compulsory. However, it is not an inclusion under a Comprehensive Bike Insurance Policy.
The following are the usual exclusions of Hero Electric bike insurance.
Accidental damages resulting from competing in illegal racing competitions
When the driver has consumed intoxicating substances before driving
Not being in possession of necessary documents while driving
Not heeding to traffic rules while driving
Damages that come about as a result of electrical or mechanical faults
Damages that come about due to the wear and tear of vehicle components
Damages that happen in areas that are not covered under the policy
The following are some of the usually offered add-ons for Hero Electric bike insurance.
Bike Engine Protection Cover
Personal Accident Cover
Roadside Assistance Cover
Outstation Emergency Cover
Personal Belongings Cover - Damage/Theft Cover
Key Protection Cover
Zero Depreciation Cover
Note: The add-ons listed above are subject to availability.
Below are the reasons why you should opt for ACKO’s bike insurance.
Owing to ACKO being a completely digital bike insurance provider, all the interactions with customers are direct and there are no middlemen involved. This saves a lot of costs, allowing ACKO to offer plans that are affordable.
ACKO settles claims without any delays. Claims raised for minor damages to an insured two-wheeler are settled on the same day. Nevertheless, other more considerable damages may take a few days to settle.
Usually, when buying or renewing bike insurance, insurers inspect the bike thoroughly before offering the insurance. However, with ACKO insurance, you do not need to get your bike pre-inspected to buy/renew bike insurance.
Follow the steps illustrated below to raise a ACKO bike insurance claim,
Step 1: Open ACKO’s official website on your browser and sign in to your account.
Step 2: Once you locate your policy card, select the option titled “Claim Now”.
Step 3: Reply to the accident related qestions that are posed to you and upload images of the damages. Once you are done, select the option titled “Submit”.
Also, read: Electric Bike Insurance
Yes, ACKO bike insurance is avilable even for old bikes that are not currently sold in the market.
No, add-ons are not compulsory. They can be bought if you feel that you require more coverage than a Comprehensive Bike Insurance can offer.
ACKO determines policy premium based on the bike’s details and the IDV you select. To get an exact quote, you can use ACKO’s premium calculator.