HDFC ERGO BIKE INSURANCE RENEWAL

HDFC ERGO Bike Insurance Policy Renewal

HDFC ERGO is founded in 2002 and is a joint venture between HDFC Ltd., India’s premier housing finance institution, and ERGO International AG, the primary insurance entity of Munich Re Group. The vision of HDFC ERGO is to be the most admired insurance company that enables the continued progress of customers by being responsive to their needs.

What is the Two-wheeler renewal of policy in HDFC ERGO General Insurance?

When you buy a two-wheeler, it is necessary to ensure it is against accidents. These Two-Wheeler Insurance Policies are only accessible for a limited time and must be renewed regularly, much like life insurance. If the policy is not renewed on time, the traffic police may issue a fine. If you are involved in an accident and your insurance has expired, you will be left with a significant financial burden. The cost of these fees, as well as any legal action, can be avoided by renewing your Two-Wheeler Insurance Policy on time.

 What are the benefits of renewing your policy with the same company?

1. Continued legal clearance - As previously stated, all vehicle owners are required by law to have valid bike insurance coverage. If you renew your coverage on time, you won't have to worry about high fees while you ride your bike. You will also avoid any costs associated with repairs or injuries to other people or property if you renew on time.
2. Protection against Man-Made Disasters - Another benefit of renewing your bike insurance policy on time is that you can keep your coverage for natural disasters. Strikes, rioting, vandalism, theft, and other events do not wait for appointments.
3. Clock emergency assistance - Another benefit provided by HDFC ERGO by offering round-the-clock emergency assistance in case an uncertain event occurs.
4. Retention of No Claim Bonus - You must know that having a No Claim Bonus rewards you for being a good driver and will help you save on your bike insurance policy.

What happens if the policy gets expired?

Third-Party Insurance - Third-party insurance is mandatory by law, It is compulsory to renew at least third-party two-wheeler insurance If you forget to renew the third party then will face a hassle-free situation by giving a fine to the traffic police.

Comprehensive Insurance - In case your bike insurance policy has lapsed, you can renew it within  90 days to retain certain benefits such as No Claim Bonus, After the said period, the policy can be renewed but you will have to buy a new policy online and a verification producer.

Stand Alone Own damage Bike insurance -  Own damage insurance cover is useful in covering the insured bike in case of accidental damage. In case, if your bike gets damaged, no coverage will be offered. But if you have your damage cover, you can claim for the damages sustained by your two-wheeler as well.

What can you do if your policy expires?

• Contact Online Quickinsure insurance brokers at https://quickinsure.co.in/ to know the further process of renewal
• Avoid driving a bike till you get a new policy because your policy expired and you don’t have any protection right now.
• To renew, you need to visit https://quickinsure.co.in/ and decide which policy is suitable for you.
• You need to have your previous year's policy for further documentation or renewal.

 FAQ’S

1. What type of policy can I opt for my Two-Wheeler renewal?

Two-wheeler insurance policies consist of two types- Comprehensive and third-party insurance. Comprehensive two-wheeler insurance covers your two-wheeler against theft and damage along with the cover against any third-party liability. On the other hand third party, which is a mandatory cover, which protects your two-wheeler against any damages.

2. What is Zero Depreciation Cover under the renewal of the two-wheeler policy?

Zero depreciation is an add-cover and has to be purchased by paying an additional premium. It offers complete coverage to your two-wheeler without factoring into depreciation.

3. Why should I choose HDFC ERGO Two-wheeler insurance?

HDFC ERGO is one of the leading general insurance companies in India. It provides the lowest premium on bike insurance, has a wide network of 7600+ cashless garages and its claim settlement ratio is 91.23%     

4. Is there an inspection required for HDFC ERGO two-wheeler insurance?

Two-wheeler insurance of HDFC ERGOs will get renewed without any inspection.

5. What if my Bike Insurance Policy is misplaced?

If the policy gets misplaced then want to contact your insurer and they will issue a duplicate copy of the policy. You may have to pay a nominal amount to get the duplicate copy