LOANS

INSURANCE

INVESTMENTS

CARDS

eStore

Discover

MY OFFERS

CUSTOMER PORTAL

ABOUT US

CONTACT US

Bike Insurance in Visakhapatnam

The city of Visakhapatnam is commonly known as Vizag and is a port city located in the state of Andhra Pradesh. It is famous for its mixed cosmopolitan population as people from across the country have migrated here for employment and education purposes. Overall, the city has a population of over 2 million.

Visakhapatnam’s vehicle population is ever growing. With over 12 lakh vehicles plying in the city every day (as of 2019), the need for road safety and a comprehensive bike insurance plan is growing by the day. Despite taking active measures, road accidents in Vizag are increasing at an alarming rate every year. Hence, bike insurance in Vizag has become a crucial financial instrument for people living here. That said, let’s understand the benefits of bike insurance in Visakhapatnam.

Best Bike Insurance in Visakhapatnam

With a myriad of insurance options available in the market, identifying the right plan for your bike can seem baffling. Take a look at some of the best bike insurance plans available on Bajaj MARKETS along with their features:

 

 

 

Bajaj Allianz General Insurance Co

Acko General Insurance Ltd

HDFC Ergo General Ltd

Third-party cover

Comprehensive Bike Insurance

Premium Amount

Starting at Rs. 538. - + GST (effective 1st April 2022)

Starting at Rs. 538. - + GST (effective 1st April 2022)

Starting at Rs. 538. - + GST (effective 1st April 2022)

No of Network Garages

4,000+

NA

8000+

Claim Settlement Ratio

98%

98%

99.5%

Additional Covers

~The aforementioned third-party premium rates are indicative. The actual insurance amount that you may have to pay may change depending on various factors. Please check the prevailing premium rates before purchasing your bike insurance policy.

Benefits of Comprehensive Bike Insurance

A comprehensive bike insurance in Visakhapatnam is more beneficial as compared to third-party insurance, here’s how:

  • Own Damage Cover

Own damage cover offers financial coverage to your own two-wheeler against damages caused by an accident. Since the cost of vehicle repairs has seen a significant upsurge over the years, buying a comprehensive plan can keep you financially secure.

  • Medical Cover

In case of a bike accident, you are most likely to be severely injured. And it is no news that private healthcare can suck out all your savings if you do not have insurance. Thanks to the presence of medical cover in comprehensive insurance plans, you are covered against the cost of your medical treatments required after an accident caused by your insured vehicle.

  • Legal Obligation

Every vehicle owner in India must have third-party bike insurance. According to the Motor Vehicles Act, 1988, you cannot ride your bike on Indian roads if it isn’t insured with this basic cover at the least. With a comprehensive bike insurance plan, you not only protect yourself against financial uncertainties but also fulfil the legal obligations. So, buy bike insurance in Visakhapatnam and stay away from hefty fines or imprisonment for driving without an insurance policy.

 

  • Third-Party Cover

As mentioned above, third-party coverage is a legal mandate under the Motor Vehicles Act, 1988. It helps you cover the costs of third-party damages and injuries in case of an accident. If you choose to buy comprehensive two-wheeler insurance in Visakhapatnam, you also get the benefits of third-party insurance cover.

 

  • Add-on Riders

Opting for a comprehensive insurance plan comes with an additional benefit–it enables you to enhance the scope of your plan with add-on covers giving extra protection. Although it isn’t compulsory, add-ons like zero depreciation cover, consumables cover, no claim bonus, etc., can be lucrative.

 

Network Garages in Visakhapatnam

Earlier, reimbursement was the only type of facility offered to seek claims. However, with customer satisfaction being the prime focus of service industries, most motor insurance companies now offer a new facility known as ‘network garages’. With this feature, you can take your vehicle to the nearest network garage and get it repaired for free or at a minimal cost. These garages partner with insurance companies, and hence they settle the bills directly with the insurers.

You can check out the nearest network garage for bike insurance plans made available from our partnered insurers:

Bajaj Allianz General Insurance - https://apps.bajajallianz.com/gmlocator/locate-garages.php

HDFC ERGO General Insurance - https://www.hdfcergo.com/locators/cashless-garages-network

To Conclude

Now, whether you are an experienced rider or not, there is always some risk involved when you are out on the road. Unforeseen events such as road accidents, theft, loss incurred to the two-wheeler due to man-made and natural disasters are beyond your control. In such a situation, bike insurance in Visakhapatnam comes in handy. With bike insurance plans available on Bajaj MARKETS, be assured that you will be financially covered against any damage or loss incurred by your two-wheeler in case of unforeseen events.

Check Out Bike Insurance Plans Available at Bajaj MARKETS

Top Bike Insurance Pages

Top Cities

Top Bike Brands

FAQs on Bike Insurance in Visakhapatnam

✔️What are the different ways to pay for two-wheeler insurance online?

At Finserv MARKETS , you can pay for your two-wheeler insurance online in multiple ways like net banking, debit card, credit card, and mobile wallet. The online payment process only takes a few minutes, and you will receive bike insurance in no time.

✔️Is having a third-party two-wheeler insurance coverage essential in India?

As per the Motor Vehicles Act of 1988, it is mandatory by law to have motor insurance coverage under your name if you own a vehicle.

✔️How to renew my two-wheeler insurance – Visakhapatnam?

Buying and renewing two-wheeler insurance in Visakhapatnam with Finserv MARKETS online is quite easy. Also, do not have to visit an insurance office as you can receive bike insurance online by selecting the premium rates and making an online payment.

✔️✔️What is the bike insurance price in Visakhapatnam?

You can get an estimate of the two-wheeler insurance price in Visakhapatnam using the online bike insurance premium calculator

✔️Can I buy online two-wheeler insurance in Visakhapatnam?

Yes, you can buy online bike insurance in Visakhapatnam through Bajaj MARKETS and other trustworthy insurance providers.