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If you ride/own a two-wheeler, you might be well aware of the importance of two-wheeler insurance. Buying bike insurance is crucial as it provides financial coverage in case of an untoward incident. Moreover, you cannot ride a two-wheeler on Indian roads, without a valid insurance cover. When it comes to high-end motorcycles such as Honda Gold Wing, insurance is a must. Read on as this article will throw light on all the aspects of Honda Gold Wing Bike Insurance.
Buying bike insurance online is one of the most convenient ways to insure your motorcycle. Below are the benefits of purchasing two-wheeler insurance online:
One of the biggest hurdles while purchasing a 2-wheeler insurance policy is the complex paperwork and tedious documentation. You need not worry about these things when you buy bike insurance online on ACKO. Because you need not fill forms or submit documents to get your two-wheeler insured. Buy/renew motor insurance online on ACKO without any documentation and paperwork.
You can purchase bike insurance online anytime and from anywhere. Log on to the ACKO website/app from your computer/smartphone and complete the purchase online. You can insure your bike 24x7, and you need not visit any agent or insurer’s office. Get your policy instantly from the comfort of your home/office.
You can compare different bike insurance plans before making the purchase decision. Opt for a two-wheeler insurance policy, which offers maximum coverage at a lower premium.
The process of purchasing bike insurance online is simple and transparent. You need not deal with agents to get your bike insured. Instead, you transact directly with ACKO. So, you pay only for the insurance policy, and there are no additional/hidden charges.
You can buy two types of 2-wheeler insurance plans for Honda Gold Wing: Third-Party Bike Insurance Plan and Comprehensive Bike Insurance Plan. Below are the coverage details of both the bike insurance plans:
A Third-Party Two-Wheeler Insurance Policy offers the mandatory Third-Party Liability Coverage. The insurance policy provides coverage against damage to third party vehicles, property or life. Purchasing a Third-Party Bike Insurance Plan is compulsory to comply with the rules and regulations. But the Third-Party Insurance Plan does not offer an Own Damage cover.
A Comprehensive Two-Wheeler Insurance Policy offers both Third-Party and Own Damage Cover. In addition to third-party coverage, the insurance plan provides coverage against damages to your vehicle and injury/accidental death of the owner/rider. Apart from that, the Comprehensive Bike Insurance Plan also covers theft or total loss of the insured vehicle. You can also enhance the scope of coverage of a Comprehensive Insurance Plan by opting for add-ons.
Comprehensive Two-wheeler Insurance for Honda Gold Wing will provide coverage against the following:
Loss/Damage to the motorcycle due to an accident.
Loss/Damage to third-party property or life.
Total loss or theft of the insured motorcycle.
Loss/Damage to the motorcycle due to man-made calamities such as vandalism, etc.
Loss/Damage to the motorcycle due to fire or explosion.
Loss/Damage to the motorcycle due to natural disasters such as floods, earthquakes, cyclones, etc.
Honda Gold Wing 2-Wheeler Insurance will not provide coverage against the following circumstances:
Loss/Damage to the motorcycle due to wear and tear.
Loss/Damage to the motorcycle due to improper handling/reckless riding.
Loss/Damage to the motorcycle when riding without a valid driving licence.
Loss/Damage to the motorcycle when riding under the influence of alcohol/intoxicating substances.
Loss/Damage to the motorcycle due to electrical or mechanical failure.
Any add-ons which are not purchased.
You can buy add-ons along with the Comprehensive Bike Insurance Plan to enhance the coverage benefits of the policy. Below are the available add-ons for Honda Gold Wing Bike Insurance:
Engine Protection Cover
Zero Depreciation Cover
Roadside Assistance Cover
Key Protect Cover
Personal Belongings - Damage/Theft
Outstation Emergency Cover
You can opt for the below add-ons for extensive coverage for your bike:
Engine Protection Cover: Typically, a Comprehensive 2-wheeler Insurance Plan does not cover damages to the engine of your Gold Wing bike. However, if you opt for the ACKO Engine Protect add-on, costs arising from engine damages will be covered by ACKO. Engine damages due to accident, oil/coolant leakage are covered by the add-on.
Roadside Assistance Cover: A vehicle breakdown is the last thing you need when you are riding your bike. But mechanical/electrical failures are inevitable, and when it happens, you are left with no assistance in the middle of the road. But you will never be stranded with ACKO’s Roadside Assistance add-on, as it offers 24x7 assistance, including towing service and vehicle repair service.
Consumables Cover: Consumables are the items used when repairing your scooter, which includes engine/gearbox oil, nuts and bolts, etc. But the Comprehensive Policy does not cover the costs of consumables. However, with the Consumables add-on, you need not worry about the costs of consumables as ACKO will pay for such items used during vehicle repairs.
Outstation Emergency Cover: Honda Gold Wing is a bike designed for long-distance riding. A breakdown or accident can ruin your road trip and cause you a lot of hassle. But with the ACKO Outstation Emergency add-on, you will get assistance outside a 100 km radius from your place of residence. ACKO pays you the amount specified in the add-on if your bike suffers a breakdown or involved in an accident.
ACKO Two-wheeler Insurance Policy comes with a host of benefits. Below are the reasons why you should buy bike insurance from ACKO:
You need not wait to get your bike insured. At ACKO, you can buy/renew two-wheeler insurance instantly without any paperwork and documentation. Just visit ACKO’s website/app, fill in three basic details: vehicle make and model, year of purchase and previous policy details. Choose your insurance plan and pay online. The insurance purchase/renewal can be completed in a few minutes.
You need not worry about renewing your expired policy if you are buying 2-wheeler insurance from ACKO. Because there is no need for pre-inspection even if your previous policy has lapsed. Get your bike insured instantly without the hassle of vehicle inspection.
As soon as you raise a claim on ACKO, the claims team are on their toes to process the claim. You get instant on-account transfer claim settlement for minor damage claims. If the vehicle requires extensive repair, you can get it done via ACKO’s network garages. And if you wish to get your vehicle repaired at your desired garage, you can file a reimbursement claim online.
ACKO works on a direct-to-consumer model and saves a lot of operational costs due to the digital process. With no agents involved, you directly buy the policy from ACKO. Hence, you pay a lower premium. You can buy a Comprehensive Two-wheeler Insurance Plan on ACKO at an economical price.
Follow the below steps to register a bike insurance claim at ACKO:
Step 1 - Visit the website www.acko.com or download the ACKO smartphone app.
Step 2 - Login to your account using the registered mobile number.
Step 3 - Click on the Claim button on the policy card.
Step 4 - Enter basic details such as type of damage and upload pictures of the damaged motorcycle.
Step 5 - For minor damages, you will receive an instant claim settlement.
Step 6 - Minor repairs and small parts replacement will be done by ACKO’s expert mechanic at your doorstep.
Step 7 - Major repairs or part replacement can be done at any of ACKO’s network garages.
Yes, you can purchase bike insurance online for Honda Gold Wing, and it is valid. You will get a soft copy of the insurance certificate when you buy 2-wheeler insurance online. Moreover, buying insurance online will save you a lot of time.
No, buying a Comprehensive Two-Wheeler Insurance Plan is not mandatory, while Third-Party Insurance is compulsory. But you can consider buying the Comprehensive Policy as Honda Gold Wing is a high-end motorcycle, and spare parts and repair costs can run very high.
No. You cannot buy add-ons if you are opting for a Third-Party 2-Wheeler Insurance Policy as it does not offer an Own Damage cover. Only a Comprehensive Insurance Plan allows you to purchase add-ons.
Yes, you can buy add-ons in the middle of the 2-wheeler insurance policy period. But the insurer might inspect your two-wheeler before you buy any add-ons in the middle of the policy period.
Yes. You can apply for a bike insurance claim online by visiting the official website of the insurance company. ACKO customers can log in to their account and click the Claim button on the policy card to apply for a bike insurance claim online.
An add-on is an additional cover, which you can buy to enhance the scope of coverage of the Comprehensive Bike Insurance Policy. There are a host of available add-ons for Honda Gold Wing bike insurance, which covers risks that are not covered by the standard Comprehensive/Package 2-Wheeler Insurance Plan. You can consider buying add-ons as per your requirement.
Yes. If you have purchased a Comprehensive Bike Insurance Policy, then the insurer will cover the theft of the insured motorcycle. If your Honda Gold Wing is stolen, the insurer will pay the IDV (Insured Declared Value) of the motorcycle.
Insured Declared Value (IDV) is the value you will get if the insured motorcycle is damaged beyond repair or stolen. IDV can also be called as the maximum sum insured amount for your two-wheeler. But note that IDV does not indicate the resale value of the insured motorcycle.
You can reduce the cost of 2-wheeler insurance by following the below pointers:
Install an anti-theft/security device on your motorcycle.
Choose add-ons only which are necessary for your motorcycle.
Declare the correct Insured Declared Value while buying/renewing bike insurance.
Ride safely and do not make claims for minor damages.
Buy bike insurance online to eliminate paying commission to the middleman.
Yes, you can renew the expired bike insurance policy. The insurer will provide a grace period for the renewal of a lapsed policy. Post grace period, you might have to pay additional service charges. Note that you have to renew the bike insurance policy within 90 days from the date of expiry to retain benefits such as NCB discount. Also, an expired insurance policy does not offer coverage.