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LML Bike Insurance
Get your LML bike insured in a simple and hassle-free way!
Bike insurance starting at ₹555*
Zero commissions, big savings
Looking to insure brand new bike?
Home / Two-wheeler Insurance / LML Bike Insurance
Buying bike insurance and renewing it before the expiry date is crucial in India. Indian law requires you to insure your bike with at least a Liability-only Policy. However, it is suggested to opt for a wide-ranging policy to insure your bike against unexpected damages. If you want to buy or renew LML bike insurance online, then read ahead to know the details regarding how to go about it efficiently.
Benefits of Buying Online Two-wheeler Insurance for LML Bikes
Here are the top advantages of choosing an online insurer for your LML bike.
1. Insure in Two Minutes
It’s 2021 and not 2001! You do not need to visit insurance offices or meet agents to insure your LML bike. You can do so easily via the online mode. For example, simply visit ACKO’s website/app and insure your LML two-wheeler online with a suitable plan under two minutes.
2. No Form-filling
Filling forms is a tedious activity. With online bike insurance, you do not need to fill lengthy forms or attach a long list of documents. For example, log in to ACKO’s website, select your bike and pick a plan, pay online, and your bike is insured!
3. No Agent Cut
As you can directly purchase the insurance policy from the insurance company, you do not need to pay agent commission. Thus, you get the opportunity to buy or renew your Comprehensive Bike Insurance Plan at a low premium.
Types of Bike Insurance Plans for LML Bikes
When it comes to buying or renewing two-wheeler insurance in India, you have the following two primary types of insurance plans to choose from.
1. Third-party Liability Policy
This policy insures the LML bike owner against liabilities arising due to injuring a third party or causing damage to their property. This plan’s premium is decided by the Insurance Regulatory and Development Authority of India. While this plan covers third-party liabilities, it does not cover damages to your bike.
2. Comprehensive Policy
This plan is law-abiding and wide-ranging. It not only offers liability-only coverage but also insures your LML bike against bike theft and damages arising due to accidents, fire, calamities, etc. This plan is more expensive than the basic Third-party Policy but offers value for money. You can also include suitable add-ons in this plan.
What’s Covered in LML Bike Insurance (Inclusions)?
Here are the top inclusions in a Comprehensive LML Bike Insurance Plan.
Third-party Bike Insurance Policy
Accidental damage to the LML bike
Total loss and bike theft
Insurance cover for two-wheeler damage due to calamities
Insurance cover as per purchased add-on plans
What’s Not Covered in LML Bike Insurance (Exclusions)?
Here are the exclusions of the plan. Note that a Personal Accident Cover needs to be purchased separately.
Expired or invalid policy
Violation of traffic rules
Riding without a Driving License or with an expired one
Riding under the influence of intoxicants
Consequential damages
Add-ons for LML Bike Insurance Policy
Add-on covers offer specific coverages. They offer either a better claim pay-out or timely services. Listed below are some of the popular add-ons for LML bikes.
Zero Depreciation Add-on negates depreciation computation resulting in higher claim settlement.
Roadside Assistance Add-on is helpful during bike break down as it offers emergency assistance services.
Key Protect Add-on comes in handy to cover the replacement cost of a lost or damaged bike key.
Personal Belongings Damage/Theft Add-on is good to have to cover items placed in the bike.
Outstation Emergency Cover offers a fixed payout if the bike is stranded on an outstation trip.
Consumables Cover covers the cost of items like engine oil, lubricants, etc. used during repair.
Bike Engine Protect covers the cost of repairing or replacing a bike's engine.
Why ACKO?
Listed below are the reasons why you should choose ACKO as your insurance partner.
1. Incredibly Low Premium
Insure your LML bike at a low premium without missing out on insurance coverage or features. ACKO works on a Zero Commission model when you buy insurance directly from the ACKO app/website. Thus, you get the policy at a lower rate.
2. Buy Anytime
ACKO is a digital-first insurer. This means you can visit ACKO’s website or use the app anytime you want and insure your bike. It just takes two minutes to insure your bike. Just share bike details, select a plan, and make the online payment. Your bike is insured!
3. Hassle-free Claim Settlement
ACKO’s claim settlement process is transparent, straightforward, and hassle-free. You receive an instant claim settlement for minor damages. And major damages are settled seamlessly within a few days. The entire process is online for your convenience.
Claim Process
Here’s an overview of ACKO’s claim process.
Step 1: Initiate a claim by logging in to your ACKO account.
Step 2: Click on Claim Now and share basic details about the claim.
Step 3: For minor damages, receive an instant claim settlement and follow the steps for major damages.
Frequently Asked Questions
Commonly Asked Questions About LML Bike Insurance
What is the meaning of inclusions and exclusions of a bike insurance plan?
Inclusions and exclusions of a policy mention the scope of the insurance coverage. You can understand the situations that shall be covered and not covered by the policy by going through the policy’s inclusions and exclusions.
Can I insure my LML bike on a Sunday from ACKO’s website?
Yes, you can buy/renew/claim insurance via ACKO’s website/app any day 24x7.
Can I switch from another insurer’s policy to ACKO’s policy?
Yes, you can easily make the switch while renewing your bike insurance policy.
Will I receive a No Claim Bonus if I have raised a claim during the policy period?
No Claim Bonus is a renewal discount offered to those who do not raise a claim during the previous policy period. If you have raised a claim, this discount is not applicable.
Is Insured Declared Value (IDV) the bike’s resale value?
No, IDV in bike insurance is not the bike’s resale value. It is the approximate current value of the bike that is paid by the insurer if the vehicle is damaged beyond repair or is stolen.
Written by
Nikhila PS
Senior Content Editor
Nikhila is a content creator with 6+ years in EdTech and motor insurance, turning complex policies into clear, engaging content. She enjoys exploring digital trends, social media, and art while planning her next short escape.
Reviewed by
Rekhit Singh Kaushal
Senior Director - Motor Underwriting
Rekhit Singh Kaushal is Senior Director at ACKO, a leading digital motor insurance provider in India. With deep expertise in insurance strategy and innovation, he brings trusted insights on car and bike insurance to help drivers stay protected.
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