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Bike Insurance FAQs: All Your Doubts Cleared

What Does Bike Insurance's No Claim Bonus (NCB) Mean?

An insurance company may offer NCB as a reward or incentive for several years with no claims. The policyholder receives this benefit, which lowers the cost of the premium by a set percentage. Typically, the insurance provider offers NCB for a one- to five-year period in the 20% to 50% range. *

What Is The Bike Insurance Policy's IDV (Insured Declared Value)?

IDV, or insured declared value, refers to the maximum sum insured fixed by the insurer, which is provided on theft or total loss of the insured vehicle.

What Influences The Declared Value (IDV) Of The Insured?

The bike's age heavily influences the IDV, make, model, and variant. The IDV is also affected by other elements, including the registration date, where you are, and the fuel type.

How Can I Get A Copy Of My Motorcycle Insurance Policy?

You can quickly get a copy of your third-party bike insurance by downloading the policy from the insurance company's website. Additionally, you can get a hard copy by calling the relevant insurance company's toll-free number and requesting that they take the necessary action.

  • What Does Bike Insurance Zero Depreciation Mean?

Zero depreciation is a crucial concept in bike insurance, ensuring policyholders receive the full bike settlement without deductions for depreciation. The bike's value decreases over time due to depreciation from natural wear and tear. *

  • Does The Bike Insurance Policy Provide Coverage For Personal Accidents?

Yes, you frequently receive a personal accident cover as an add-on if you purchase a comprehensive 1st party bike insurance policy. However, in addition to the bike insurance policy, the insured can buy the personal accident cover separately. *

  • Can I Add A New Bike To My Current Motorcycle Insurance Policy?

Yes, you may quickly fill out the proposal form and transfer or replace your insurance coverage from your old bike to your new bike. The insurance provider must reconsider the new bike's specs and recalculate the IDV by the new bike's market worth.

  • How Can I Download A Copy Of My Bike Insurance Policy?

Step 1: Visit the website of your insurance provider.

Step 2: Choose the policy type and input the policy information.

Step 3: Check your profile and policy.

Step 4: The third-party bike insurance policy document is now available for download, printing, or viewing.

  • How Can I Lower The Cost Of My Bike Insurance?

Have an impeccable driving record and drive safely.

Decide on a greater deductible amount.

Only use essential extras.

Before renewing the policy, check your NCB.

Don't break the rules of the road.

Before purchasing a policy, compare them online.

Avoid filing claims for minor damages.

Choose long-term insurance to receive the ideal savings. ##

A two-wheeler insurance calculator is a convenient tool you may utilise online to check the amount of coverage required based on your needs.

* Standard T&C Apply

## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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