HDFC ERGO bike insurance offers 2 types of bike insurance plans: HDFC ERGO Comprehensive Bike Insurance and HDFC ERGO Third Party Bike Insurance. The premium of these plans start from Rs. 714/yr. The coverage under HDFC ERGO two wheeler bike insurance would depend on the type of policy you choose, check the details below:
Starting Premium- ₹ 812/yr
Starting Premium- ₹ 714/yr
Add-ons are additional coverage benefits which can be chosen voluntarily by paying an additional premium. Add-ons help increase the scope of coverage of the bike insurance policy. HDFC ERGO two wheeler insurance plans offer the following types of add-ons with the comprehensive policy:
In case of a claim under your two wheeler insurance policy, the parts of the bike might be replaced or repaired if they are damaged. When calculating the claim payable for the replacement or repairs of the parts, the insurance company would deduct depreciation due to usage. This depreciation reduces the claim amount. Though the garage charges the total amount incurred on repairs or replacement of the parts, the insurance company pays a reduced claim due to depreciation.
The rate of depreciation on the different parts of the bike is as follow
Types of parts of the bike|
Rate of depreciation applicable|
Rubber, plastic or nylon parts|
Tyres and tubes|
As per the depreciation of the Insured Declared Value of the bike|
A zero depreciation add-on cover nullifies this effect of depreciation. If the add-on is selected, no depreciation is deducted from the parts which are repaired or replaced. The insurance company pays the full costs incurred in such replacement or repair. The claim amount, therefore, increases.
This add-on ensures you 24*7 assistance from the insurance company if your bike breaks down in the middle of the road. You can get assistance for the following
Customer Care Number
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IDV stands for Insured Declared Value of the bike. It is the market value of the bike after deducting depreciation based on the age of the bike.IDV reduces every year and represents the maximum claim which is payable by the insurance company. IDV is paid if the bike is stolen or damaged beyond repair.
The applicable rate of depreciation, to calculate IDV, is as follows
Age of the bike|
Up to 6 months|
More than 6 months but less than 1 year|
More than a year but less than 2 years|
More than 2 years but less than 3 years|
More than 3 years but less than 4 years|
More than 4 years but less than 5 years|
If the bike is aged 5 years and above, the IDV is decided mutually by the insurance company and the policyholder.
No claim bonus is a reward allowed to policyholders who do not make any claim in a policy year. The bonus is allowed as a discount on the renewal premium. The rate of bonus increases after each consecutive claim-free year. However, once a claim is made, the bonus becomes zero.
The applicable no-claim bonus rates are as follows
No Claim Bonus applicability|
% of No Claim Bonus|
No claim in the first policy year|
No claims after two consecutive policy years|
No claims after three consecutive policy years|
No claims after four consecutive policy years|
No claims after five consecutive policy years|
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