Cycling is a preferred leisure and sporting activity across all age groups. People use cycles for several purposes - exercise, travel, or simply as an environment-friendly vehicle. Cycling has gained attention from environmental sectors for its advantages over motor vehicles.
Moreover, the health sector promotes cycling for its potential to keep people healthy. However, many risks are involved in metropolitans and other crowded cities, such as damage, theft, etc. So, it is best to opt for insurance to protect your cycle from such harmful incidents.
This is where Bajaj Markets’s Cycle Secure insurance comes in handy. With a maximum coverage of ₹25,000, this cycle insurance policy is designed to take care of your environmentally-friendly vehicle. Read on to know more!
You must follow a few simple steps to apply for Cycle Secure insurance. Follow the step-by-step procedure given below:
Tap on ‘Buy Now’ on the product page
Enter the required details in the online application form
Complete the payment through UPI, credit/debit card or any other online payment method.
After your payment, you will receive the details of your selected Cycle Secure insurance on your E-mail ID and WhatsApp, along with a notification on your mobile number. Therefore, this is how you can easily activate your Cycle Secure insurance plan.
To opt for Cycle Secure, you should meet the following parameters:
You have to be a resident of India
Must be over 18 years of age.
Cycle Secure insurance includes the following:
Provides worldwide coverage for the cycle. You can get advance payments for booking travel tickets and hotels. If you are looking for bookings in India, you can get up to ₹20,000; internationally, this amount will be up to ₹40,000.
You can consult renowned doctors for an unlimited time. This insurance provides on-demand and clinical expertise access via mobile app or phone call.
The network discount card provides discount vouchers for partner diagnostic centres, pharmacies, and hospitals. You can redeem your vouchers on multiple partner associations. For appointment booking, you need to call 1800-103-4466 between 8 am and 8 pm (every day excluding the national holidays) and provide your voucher code to redeem the benefits.
This feature provides you roadside assistance across the country, at over 450+ places, up to 75 km from the main city. By availing this feature, you can avoid roadside blockage, flat tyre support, towing, battery jump-start, and other assistance.
After activating the Cycle Secure insurance, you can avail of a Zee 5 entertainment subscription for a year free of cost.
After your enrollment, you will get the complimentary add-on benefits of protection against any theft and fire accident caused to your cycle. You can claim the benefit within seven days of your policy’s starting date. You can get a claim amount of up to ₹25,000.
By using this service, you can block your lost debit or credit card without visiting or contacting the bank. You can report the theft or loss of your payment cards by calling 1800-419-4000.
Here are the plan details and specifications the Cycle Secure insurance:
Coverage: You can get a maximum assured sum of ₹25,000 in Cycle Secure insurance.
Premium amount: The premium for availing of Cycle Secure insurance will be ₹1,399, including all taxes and GST.
You will get maximum coverage of ₹25,000 in case your cycle costs more than ₹25,000. If your cycle costs less than ₹25,000, the maximum amount assured will be considered equal to the invoice amount. In both cases, the premium amount will remain the same, that is, ₹1,399.
Cycle Secure insurance has certain exclusions.
Here are some features excluded from this insurance policy:
This policy does not provide any blanket for any loss you might cause directly or indirectly or by any act of dishonesty or fraudulent practice.
The policy does not cover losses due to mechanical means, electrical dysfunction, or breakdown of any article by accidental means.
This insurance policy does not cover the losses caused due to intoxication by any kind of drugs, alcohol, or narcotics.
This plan is not for losses due to maintenance activities like cleaning, wear and tear, insects or mildew attacks, paints, vermin, repairing or renovation, etc.
This plan is not responsible for covering any damage to fragile products, including cracking or scratching of crockery, breakage, glass, lenses, curious, sculptures, binoculars, sports gear, musical instruments, and other similar brittle articles.
The policy does not cover any pre-existing damage or loss, along with loss or damage of misplacement, recklessness, abuse, misuse, etc. Moreover, it does not cover any legal liability as well.
You can claim your policy benefits effortlessly by contacting our customer care desk. You must call our customer care executives within 24 hours of damage to your cycle to avail the policy benefits.
You can reach out to our insurance executives in various ways:
Call: You can call our toll-free number 1800-419-4000. You must prefix the area/city STD code before making this call.
E-mail: You can also reach out via mail at email@example.com to make your claim.
You can get in touch with us by contacting us at firstname.lastname@example.org. We will revert at the earliest!
The maximum amount covered in the Cycle Secure insurance is ₹25,000. However, if your cycle costs less, the particular invoice amount will be the maximum coverage.
This scheme doesn’t cover situations like deliberate losses, intoxication losses, and maintenance losses. For more details, refer to the list given above.
Cycle Secure has a mere premium amount of ₹1,399 only.