What’s Covered & Not Covered
Here’s a table showing some of the inclusions and exclusions under the HDFC ERGO Bike Insurance plans:
What’s Covered? |
What’s Not Covered? |
Policy covers damages sustained by your bike in the event of an accident. |
Normal wear and tear, depreciation. |
Any damages incurred to your vehicle due to a fire or explosion will be covered. |
Losses caused by mechanical breakdowns. |
Theft and loss of bikes will be covered. |
Consequential losses. |
Protection in case of damages caused by natural calamities, disasters and social perils. |
Damages and losses that are resultant of intoxicated driving. |
If you’re harmed during a bike accident, your treatment charges will be covered by the insurer. |
Damages caused by racing, pace-making and other such activities. |
Third-party property and personal damages will be covered by the insurer. |
Losses that are caused by nuclear weapons, radiation, wars and allied perils. |
Factors Influencing the Premium of HDFC ERGO Two Wheeler Insurance
Here are some factors that affect HDFC ERGO Bike Insurance price:
1. Type of Insurance Policy
While a third-party insurance is legally mandated, the decision to purchase an own-damage cover or a comprehensive insurance plan is totally up to you. Purchasing these plans can add to the cost of purchasing insurance plans. However, they add an extra layer of protection and help keep you sufficiently protected.
2. Type and Condition of the Bike
Your insurance premium is largely dependent on the type of bike you own. Naturally, expensive bikes have higher premiums and vice versa. Your bike’s cubic capacity or cc has a significant impact on your premium amount. A bike with a low cc will have a lower premium amount when compared to a bike with a higher cc. Other factors such as your bike’s make, model, age, class, fuel type, place of registration, number of kilometres covered can all affect your HDFC ERGO bike insurance premium amount.
3. Risk Evaluation Based on the Driver’s Driving History
Insurance premiums are evaluated based on a number of factors such as age, experience and driving record. The insurer evaluates the risk profile of each owner-driver to determine the bike insurance premium. Generally, experienced drivers with a clean driving record get better premium quotes than inexperienced drivers. If you have a history of rash driving, then the insurer is likely to flag you as a high-risk driver and quote a higher premium amount.
4. Add-on Covers
While add-covers can help offer increased coverage, it’s important to keep in mind that they also drive up the overall cost of purchasing an insurance plan. Evaluate your needs and only purchase add-ons that are necessary.
5. Modifications
Modifications can be a fun and innovative way to improve your bike’s performance and aesthetics. However, it’s important to note that basic insurance plans do not cover modifications and you would be required to purchase additional covers to ensure that your bike is adequately protected. Having too many modifications will require you to purchase a number of different covers and this will drive up your insurance premium cost. So, if you wish to keep your insurance premium amount low, avoid unnecessary modifications.