Why should you choose the HDFC ERGO Two Wheeler Insurance policy?

HDFC ERGO Two Wheeler Insurance policy

Everyone knows that there are more than 25 two-wheeler insurance companies recently working in India. So, it becomes very difficult for customers to choose a single policy that covers all the damages. Also, each of them has a unique facility that others should lack. Some of them provide high coverage, whether the others provide policy at low premiums. But only HDFC ERGO Two Wheeler Insurance company is the one that provides complete coverage at a low premium. It safeguards your bike against accidents, theft, malicious damage, and natural calamities.

Formal Introduction Of Insurance Company

HDFC ERGO Two Wheeler Insurance company has more than 1 crore satisfied customers over the globe. Not only in India this company is also cherished in foreign countries for its excellent services. This company has more than 6,800+ network garages spread over the country that provide cashless repairing service. HDFC ERGO is the best two-wheeler insurance company with a 94% claim settlement ratio. If you want to purchase Online vehicle insurance for your bike then this company will take care of all damages. As per the motor vehicle act, it is compulsory to have a third party coverage to reimburse the social property damage. Hence, this insurance policy will also aid you with a fine waiver apart from repairing expenses.

You can’t even imagine bearing the unforeseen high expenses without a two-wheeler insurance plan. Below is the main feature of the HDFC plan that will surely convenience you to purchase one for your bike.

  • No hassle of carrying hard copies.
  • Get up to 70% discount on premiums.
  • If you will not make a claim for consecutive 5 years then the company will reward you with a No Claim Bonus of up to 50%.
  • Round the clock assistance service to solve the queries of customers.
  • Get instant approval of claim settlement within 24 hours of an incident.
  • Transparent policies and easy claiming procedure.

What are the key factors that can affect your HDFC ERGO Two Wheeler Insurance premium?

Bike insurance policies are very easy to buy. You can either contact an agent or purchase it from an Online two-wheeler insurance website. But purchasing a whatever policy will not provide you sufficient coverage. Whereas if you want to take complete coverage from all damages then your pocket will get empty. So, it is very important to know about the factors that can affect your insurance premium.

  • Age of Bike (Year of purchasing the bike):

The value of every asset decreases with time and so does with your bike. Your bike insurance premium is inversely proportional to the age of the bike. If you have purchased a new bike then it has more market value then the old one. Also, the repair of a new bike needs more funds than the old one. It concludes that the premium of a new bike is higher than an old used bike.

  • Model and variant:

The year of manufacture, place of registration, engine capacity, the model of bike, and fuel variant are the important factors to decide your bike insurance premium. If you are going to purchase vehicle insurance online, then also you have to enter these details. The website will show you the premium as per the provided information.

  • Installation of security systems:

Installing a security device on your bike will reduce the effort of the insurance company in case your bike gets stolen. Resulting in which they will provide you with an extra discount on the premium. So, if you install a verified tracking device on your vehicle then the company will reduce your premium.

  • Choice of coverage:

HDFC ERGO Two Wheeler Insurance company provides a range of coverage options for their customers. It is important to specify your needs while purchasing an insurance policy. If you opt for unbeneficial coverage then it will unwantedly increase your premium. Moreover, you can also choose for long term plans as per your budget. This will give you an additional discount on the premium rates.

Incidence covered in an HDFC ERGO Two Wheeler Insurance policy:

It is not necessary that every company will consider all your losses. Any misconceptions regarding the policy will cause you a huge loss while claiming. Experts always suggest checking the policy clauses before purchasing the insurance policy. You will get the following coverage in HDFC ERGO Two Wheeler Insurance policy:

  • Accidents:

Accidents are always unpredictable and it causes heavy damage to both the rider and the bike. A company not covering the accidental damages will be simply of no use. But with HDFC ERGO Two Wheeler Insurance company, you can take cashless claims in case of volatile accidents.

  • Theft:

It is not less than a nightmare when you get to listen that your bike got stolen. So, this company will not let your nightmare come true and provide coverage from theft.

  • Disaster:

There are multiple types of disasters that can hit your location. Sometimes they are natural while other times they are caused due to manmade activities. HDFC ERGO will reduce your stress and cover all types of natural as well as man-made disasters in the policy. So, the damages caused due to floods, riots, earthquakes, cyclones, terror attract are included in the policy.

  • Explosion and fire coverage:

Now don’t get panic if your garage is in the fire. Our insurance policy will reimburse the losses caused to your bike. All you need to inform the insurance company and we will take care after the damages.

  • Personal accidental protection:

It is not less than a blessing to have a personal accidental cover in your bike insurance policy. Not all insurance companies provide personal accidental coverage but you will get a default coverage of 15 lakhs with HDFC ergo.

  • Third-party liability:

               Third-party liability coverage will cover third party losses and medical expenses. If someone gets injured in an accident with your bike then this will provide the medical expenses of that person. not only the hospital bills, it will also provide financial help in case of demise and permanent/temporary disability.

Do you know Why Auto insurance is important?

Having Auto insurance is mandatory in almost all states of India. It is a contract between the insurer and the insurance company that they will provide the financial coverage of the losses in case of an accident. Auto insurance basically covers the property, liability and medical losses. 

Property losses: It includes the loss when your vehicle is stolen or lost. 

Liability losses: It covers the losses of damage and bodily injuries caused due to accidents to the other person. 

Medical losses: It covers the cost of medicines, hospital treatment, and funeral expenses also. 

What happens if you don’t have car insurance and you meet with an accident?

Insurance is mandated and it is a must to have insurance if you are driving a vehicle on the road. If you don’t have insurance and you get in an accident then a huge fine will be imposed on you, your license will be suspended or you will get an official notice of a traffic offense. Apart from this, you have to pay for the repairing cost and the medical expenses from your pocket if some get injured. Most important is if someone gets killed in that accident then it might be possible that you have to face court hearings and get imprisoned for years.  So, if you want to get rid of all these tensions, then take auto insurance instantly.

Why it is important to take an insurance plan?

  • It provides Reimbursement for damage in the vehicle.
  • Policyholder gets financial help for your family if he/she, unfortunately, demise in an accident.
  • It will reduce your responsibility and protect you from legal formalities.
  • It will provide the medical expenses if you get injured while accident.
  • The earlier you buy, the better you will get and the lesser you have to pay now and will save more in the future.

How can you choose the right auto insurance coverage?

When you are on road and driving a vehicle, it’s not enough only to drive carefully and follow the rules. Maybe you are following the rules but how can you be so sure about others. So, it’s better to be at the safer side and have insurance. It is also a pain to choose the right type of coverage from the multiple plans available in the market. So here is some main point that you can keep in mind while choosing for coverage.

  • Personal Injury Protection Coverage

Whether it’s your fault or not, it will cover the medical expenses for both the passenger and the policyholder. It is a mandatory coverage in some states. It will also cover the lost wages if you are injured and don’t able to go on work. 

  • Collision Coverage

It will provide the reimbursement or the replacement of the vehicle if it gets damaged in the accident crashing with another vehicle or object. 

  • Comprehensive Coverage

When your vehicle is theft, damaged in hail, vandalism or damaged due to natural calamities, then comprehensive coverage will provide the compensation of the damage vehicle. It will not cover the damage cause due to driving.

  • Property Damage Coverage

Property Damage Coverage will provide the compensation for the damaged caused to the property of another person whether it is the building, fence or vehicle.

  • Gap coverage

If you have financed your vehicle and the amount is still pending, then gap coverage will help you to pay off the amount in case the vehicle is totaled or theft. This insurance will cover the gap of the actual amount and the current worth of the vehicle.

Things to remember while purchasing auto insurance

Select for the top-rated insurer:

Check for the ratings and reviews online on the website of the company prior to purchasing any insurance plan. It will give you a rough idea about the successful claim settlement ratios, services offered and non-claim problems.

Go for low deductibles:

If you go for high deductible then your premium amount will reduce. So, check for the policy with low deductibles so that you will get the maximum coverage.

Check regularly for credit score after purchasing auto insurance and try to maintain it:

Once you purchase the insurance plan then it is compulsory to maintain the credit score otherwise your premium gets impacted directly if the credit score goes down.

Check for auto claim process:

Auto claim process will make sure that you don’t have to rush to the insurance company with the hardcopy of all required documents. The complete claim can be settled by sitting at the comfort of your home by sending the required images and scanned documents on mail. 

Compare annual rates with other companies:

Compare with the annual claim rates with other competitor companies in the market so that you will get the best contract.

Beware of scams:

Frauds can anytime trick you with fake accidents, at that time you have to take the responsibility of the crash and expenses. To avoid this type of scenario we request you to drive carefully if something happens then report the incident to the police immediately and take pictures of the crash scene.

Check for more discounted offers:

Multiple coverages in a single plan will cost you less in comparison to multiple plans with solo coverage. So, go for combined policies as it will cost cheaper for you. Apart from this, special discounts will be available for those who have a record of long safe driving or have specialized any driving course.