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Honda Activa is one of the most successful commuter two-wheelers in India. This success can be attributed to its powerful performance and low price for its segment. Since buying insurance is mandatory if you own a vehicle, you need to get Honda Activa Bike Insurance to comply with the law. This article sheds light on all you need to know about buying and renewing bike insurance for your Activa.
Buying car insurance online is way easier as compared to the traditional method. It involved getting in touch with an insurance agent and discussing suitable plans. Next would be form-filling and confusing paperwork. One also has to depend upon the insurance agent to help buy the right coverage. This can be deceiving in some cases. Online policies are similar to self-service in many ways. Here are a few reasons to buy a car insurance policy online.
Extensive paperwork involved in the traditional method of buying car insurance is completely excluded while buying the policy online. All you need are details like the car’s registration number, previous policy, etc.
The biggest advantage of buying bike insurance online is you get a digital copy of your insurance policy. You can store this copy on your smartphone and display it to the authorities when requested.
When you buy a car insurance policy from a digital insurance company, you are likely to receive your new policy within minutes of the purchase. Provided, your previous car insurance policy is still active.
You can buy any of the following types of bike insurance policies for your Honda Activa.
Buying at least Third-party bike insurance is mandatory by law in India. But it does not provide coverage against the damages to your bike. It only covers Third-party liabilities and Legal Liabilities arising out of an accident with the third party. One needs to buy a Personal Accident Cover with the basic plan as well. It is compulsory to buy.
The law does not mandate you to buy a Comprehensive Bike insurance policy for your Honda Activa, however, this policy provides coverage for the damages to your Honda Activa as well. The policyholder can raise a claim if the bike gets damaged due to accidents, calamities, fire, or if it gets stolen. Moreover, you can also increase the coverage with add-ons.
Apart from being a compulsory requirement, your bike insurance policy will cover you for various events in case of damage and/or injuries. Following things are covered in a Comprehensive Honda Activa Two-wheeler insurance.
Third-party Liabilities: This covers damage to third-party property, injuries, and death.
Legal Liabilities: Any legal liabilities arising due to an accident with the third party are covered under insurance.
Own Damage: This component refers to the damage caused to your Activa. It covers an array of incidents. For example Natural calamities, man-made calamities, accidents, theft, or fire.
Add-ons: When you buy a Comprehensive Honda Activa bike insurance, you can increase insurance coverage with add-ons like Zero Depreciation, Key Protect, Roadside Assistance, etc.
Personal Accident Cover: This is a compulsory add-on that offers a sum insured of Rs. 15 lakh in case of death or disability suffered by the owner/rider of the Honda Activa. One needs to buy this add-on separately.
The policyholder can choose a multi-year policy for the Honda Activa. This reduces the hassle of frequent renewals.
An insurance company can set some rules for raising claims and these are called exclusions. Exclusions are conditions in which the policyholder cannot raise a claim. Here are the general exclusions of the Honda Activa Bike insurance policy.
Regular wear and tear.
Mechanical or electrical damage.
Damage caused when riding the bike under the influence of an intoxicating substance.
Damage caused when the bike was used for illegal activity.
Riding the bike without necessary documents.
Damage that is caused outside the geographical limits set by the insurance company.
Damage occurred when the insurance policy was not in force or had expired.
Add-ons are additional coverages that help you claim in situations that are generally not covered in your bike insurance policy. Take a look at the add-ons that are generally available with Honda Activa Two-wheeler Insurance.
Personal Belongings Damage/Theft
Outstation Emergency Cover
Bike Engine Protect
ACKO is being appreciated for affordable policies and instant claim settlement by numerous existing bike insurance customers. Here are the benefits you will receive for buying ACKO insurance for your Honda Activa Bike.
ACKO is a digital-first general insurance company which means most of its operations are done online. This reduces the time required for processes like buying or renewing a policy or raising a claim and you can get your policy instantly.
You can buy two-wheeler insurance online directly from ACKO. Because there are no insurance agents or middle-men in a transaction for buying or renewing a policy, you save money otherwise spent on the agent commission.
Thanks to ACKO's dedicated claims team, your Honda Activa bike insurance claim will be concluded in a matter of a few days. Moreover, if the Honda Activa Bike has suffered minor damages, you may get an instant claim settlement.
The claim process is quite simple when it comes to ACKO insurance. You just have to follow a few easy steps and your claim will be raised successfully. Here are those steps for your reference.
Step 1: Raise a claim online by visiting www.acko.com or by using ACKO mobile app.
Step 2: Log in to your account with the help of your registered mobile number and click on your Honda Activa Bike details.
Step 3: Click "Claim Now"
Step 4: Upload the required documents and pictures of the damaged bike.
ACKO mostly settles minor claims instantly. For major damage, you will be guided by ACKO's insurance experts if in doubt. Feel free to get in touch with us for more details.
Well, buying bike insurance online will save a lot of your time. This is because ACKO follows a digital process where you don't have to put much effort into filling in all the details. For example, simply enter your Activa's registration number and we will automatically fill in other details like the variant, year of manufacture, etc. Next, you can choose an insurance plan and make payment to receive your bike insurance policy instantly. No inspections. Instant policy.
NCB stands for No Claim Bonus. This is the discount you get for not raising any claims against your bike insurance policy. You can claim this discount at the time of renewing the policy. Since NCB can be as high as 50% of the Own Damage Premium, it is of great importance.
Yes, it is a good idea to renew your bike insurance policy a few days before its expiry. This way you are not making haste while choosing the coverage. You can also go through add-ons and buy the ones that are most suitable for your requirements. Consider buying some standard add-ons like Zero Depreciation, Roadside Assistance, and Engine Protect Add-on.
IDV is Insured Declared Value. The best method to set the correct IDV is to take a look at the market value of the Activa that you own. You can then set the IDV approximately equal to its market value.
There are a few factors that determine the cost of your insurance policy i.e. the premium. Factors like the age of your Activa, type of insurance policy you choose, number of add-ons, any modifications on the bike, etc. affect the premium. Thus, the cost of buying insurance can be different for similar bike models.
Not to worry, write to us at [email protected] and tell us about the details you need to change. Our experts will guide you through the endorsement process and get the mistake rectified.
An inspection happens if your insurance policy is not renewed within a specified number of days. But ACKO does not conduct an inspection for bike insurance policies. We trust you! Simply go to www.acko.com and buy an insurance policy for your Honda Activa. You will get the policy even faster because of our no bike inspection policy for buying or renewing insurance. We will inspect the bike during a claim though.