Hero Motocorp Two Wheeler Insurance

So you own a Hero Motocorp bike? Hats off just to that!

Planning to renew the insurance of your good old Hero Splendor Plus bike or looking for the best two-wheeler insurance for your brand new Hero Karizma 2014 – you’ve landed just the right place.

Let’s dive into the two-wheeler insurance basics for your Hero bike.

Understanding Hero Insurance

Must-know Coverage for Your Hero Motocorp Bike

You can get following kinds of insurance policies for your Hero Bike:

Third-Party Bike InsuranceComprehensive Bike Insurance
Only covers third-party injuries and damages, and not to your own vehicle.Gives third-party policy + coverage for losses and damages to your own bike
Mandatory by Indian Motors Act.It’s not mandatory to buy coverage for your own bike’s damages, but then we all know the state of Indian roads. And, who doesn’t love their Hero bike?
Multi-year insurance availableMulti-year insurance available

Why you should insure your Hero bike?

Hero Motocorp bikes are great on Indian roads, which is why there are so many of them. But with a two-wheeler insurance, you can:

  • Be sure that you’re rightfully compensated if your Hero bike was stolen or damaged beyond repairs.
  • Get coverage for a third-party if your bike caused an accident and the third-party was injured or their property damaged.
  • Get comprehensive coverage for your own two-wheeler, in case damages were caused to your vehicle.
  • Be sure that no traffic policeman heavily fines you for not having an insurance policy for your bike. Strictly, say no to bribery!

 Good-to-Have Insurance Add-ons for Hero Motocorp Bikes

  • Zero Depreciation Cover:

Irrespective of the model of Hero Motocorp bike you have, depreciation is applicable on all kinds of metal, plastic, and fiber glass parts. In case of repairs / replacement claims, you would have to pay for the depreciation cost. However, with zero depreciation add-on, you can get that covered.

  • Return to Invoice Cover:

So that if your bike was stolen or completely damaged, the claim settlement amount from the insurance company is not as little as the current market value of your bike. Instead, it is as much as the invoice value of your bike. This is even when in case your bike was two years old, with a 20 percent lower current market value.

A lot of insurance companies offer specific add-on coverage at an addition premium cost. Depending on the model of Hero Motocorp bike you have, do enquire with your insurer about these coverage options. Key replacement, roadside assistance, personal accident cover of passengers could be a few such options.

Things a Two Wheeler Insurance Covers For Any Hero Motocorp Bike

  • Personal accident coverage for owner-driver
  • Accident-related damages to your bike
  • Damages caused during a natural calamity like flood or storm
  • Loss because of fire, explosions
  • Compensation for Stolen Bike

Things a Two Wheeler Insurance Does Not Cover For Any Hero Motocorp Bike

  • Wear and tear caused over the years [including flat tyres]
  • Losses caused when the bike was driven without a driving license
  • Damages caused when the bike was being driven under the influence of alcohol
  • Driving outside the geographical limits
  • If the bike is used for anything beyond it’s legal purpose [racing, illegal activities, organized crime]

 

Questions you might ask about Hero Insurance

How can I renew my Hero Insurance online?

Your Hero Insurance Policy can be renewed online very seamlessly through your insurer’s online portal or your broker’s portal.

  1. If you have already selected an insurance company you can go to the insurer’s portal and renew it online by filling in the details.
  2. All you need to fill are your bike details (like Vehicle Registration Number, Engine/Chasis Number), your previous insurance details and your contact details. Once done, you can then renew the policy online by paying via netbanking, wallet or credit/debit card.
  3. Also, it is not necessary to continue your insurance policy with the same insurance company as the previous year. You can easily purchase insurance policy from a different insurer, as long as you are aware of the benefits and features being offered.

 

The two wheeler insurance of my Hero Super Splendor bike has already expired. Is vehicle inspection mandatory?

No. Inspection is not mandatory even if the insurance for your bike has already expired. It is sometimes done at the discretion of the insurer but only if the insurance has lapsed for more than 6 months or so.

 

Is an online insurance policy valid for two-wheelers?

Of course it is valid. You get a valid bike insurance policy by renewing the policy online. All you need to do is fill in your previous policy bike details and get a valid insurance policy emailed to your registered email id. A printout of that would suffice.

 

Single-year or Mutli-year: what’s better in case of Hero insurance?

Multi-year is always better as you get a better rate and your insurance policy is valid for 2 to 3 years. Thus, there is no renewal headache every year. Also, since you pay upfront, there is a huge discount on the premium.

 

How do I get no-claim bonus at the time of renewal?

If you have not claimed in the preceding year, then you can avail a No-Claim Bonus at the time of your next renewal. Keep one thing in mind: your bike insurance renewal has to happen before the previous policy expires. At the time of renewal of your Two-Wheeler Insurance Policy, you need to mention your last NCB and whether you have made any claim in the last year or not. You get discount on the own-damage premium as per the NCB grid provided by IRDA.

All vehicle Type NCB Grid% of discount in premium on damage premium
No Claim in the last 1 year20%
No Claim in the last 2 consecutive years25%
No Claim in the last 3 consecutive years35%
No Claim in the last 4 consecutive years45%
No Claim in the last 5 consecutive years50%

 

How much more do I need to pay for comprehensive two wheeler insurance?

The premium for a simple third party only insurance is fixed by the IRDAI. A comprehensive insurance policy includes own-damage premium too. The own-damage premium varies slightly from one insurance company to another and is dependent on a lot of factors, including your claims history and the age of your bike. The overall premium for comprehensive insurance is marginally higher, but highly recommended if you are looking for complete coverage for your Hero bike.

Models Manufactured by Hero: Which One Do You Ride?

 Engine CCMileage(kmpl)BHPWeight (Kg)Price Range (in Rs.)
KARIZMA ZMR22348201571,00,050 to 1,00,150
KARIZMA2234819.215485,230 to 86,400
XTREME SPORTS1494815.614672,300 to 73,500
XTREME1495014.214595,500 to 96,000
HUNK149531414672,360 to 73,500
ACHIEVER1491313862,500 to 63,800
IGNITOR125551112962,300 to 63,500
GLAMOUR PROGRAMMED FI12572912967,050 to 68,100
GLAMOUR124.7558.912957,300 to 58,500
SUPER SPLENDOR124.775912155,350 to 54,500
PASSION XPRO10986811349,900 to 50,050
PASSION PRO I3S97.2848.211551,050 to 52,300
SPLENDOR ISMART 110109.15759.311551,600 to 52,300
PASSION PRO TR97847.711954,900 to 55,300
SPLENDOR ISMART97928.211052,400 to 53,250
SPLENDOR PRO CLASSIC97.2558.110952,500 to 53,500
SPLENDOR PRO97.2908.210948,400 to 49,300
SPLENDOR+97.2818.210946,600 to 49,200
HF DELUXE ECO97658.111243,290 to 44,500
HF DELUXE97837.711043,200 to 43,200
HF DAWN97837.710941,100 to 42,300
HF DELUXE I3S97.28.211044,240 to 45,200
DUET110.9458.3111545,000 to 46,500
MAESTRO EDGE110518.3110950,950 to 52,250
PLEASURE102636.9110147,300 to 48,600
%d bloggers like this: