TATA AIG Bike Insurance

TATA AIG Bike Insurance Policy - Key Features

*Disclaimer: The general key features of TATA bike insurance are mentioned here. For exact coverage, refer to the policy wording given by the insurance provider.

Why Choose TATA Bike Insurance Policy?

TATA AIG two-wheeler insurance plans have distinctive features and benefits, making them different. Here are a few reasons for choosing TATA bike insurance policy:

• A special discount called a No Claim Bonus (NCB) can be availed for a claim-free record.
• Enjoy the convenience of repairing the damaged two-wheeler directly with various authorised garages available across India.
• Speedy and hassle-free claim settlement process.
• Customer support is always available (24x7) at the service to resolve queries.
• Online renewal of bike insurance plans can be done with zero documentation.

Types of TATA AIG Bike Insurance Policy

TATA AIG General Insurance Company Limited is a joint venture between TATA Group and American International Group (AIG), catering to the requirements of both individuals and business owners.

Here are the three types of bike insurance policies offered by TATA AIG General Insurance Company Limited:

1. Comprehensive Bike Insurance Policy

   The TATA AIG comprehensive bike insurance policy offers protection against third-party liabilities and own damages. It includes coverage for damages caused by natural disasters, man-made hazards, theft, accidents, etc. Hence, the policy ensures complete protection from several unforeseen risks.

2. Standalone Own-Damage Bike Insurance Policy

   The TATA AIG standalone own-damage bike insurance policy refers to a standalone cover, which is beneficial in case of damages to your own vehicle due to several unfortunate circumstances. This policy can only be purchased when you already have third-party liability coverage.

3. Third-Party Bike Insurance Policy

   Third-party bike insurance is a legally mandated policy in India. The policy will help you in a road accident in which your bike causes damage to a third-party vehicle or injuries to a third-party person.

*Disclaimer: Here is the general coverage of the TATA AIG bike insurance policy. Kindly refer to policy wordings for the exact policy coverage.

Depreciation Rates for Bike Parts

In India, different parts have different depreciation rates that are applied with time. The table below demonstrates the applicable depreciation rates for various parts of the bike:

Depreciation Based on the Age of the Bike

The depreciation rates rise as the bike gets older. The table below demonstrates the applicable depreciation rates with the bike's age:

*Disclaimer: The terms & conditions of depreciation rates are determined by the insurer. Therefore, check the policy wording to understand it.

Personal Accident (PA) Cover for Bike Owners

TATA bike insurance protects the owner-driver of the bike with Personal Accident (PA) add-on and covers up to ₹15 lakh in case of death, injuries, or permanent total disabilities.

The table below demonstrates the compensation percentage depending on the type of injury:

Things to Keep in Mind to Buy PA Cover

The following points are need to kept in mind when buying a Personal Accident cover:

• One can avail of compensation for any one condition out of four during the policy term. The amount is limited to ₹ 15 lakh and cannot be extended.
• No claims are entertained for injuries, death, or any condition due to pre-existing diseases, suicidal attempts, and self-harm or when the driver is riding under the influence of an intoxicated substance such as drugs or alcohol.

How to Buy/Renew TATA Bike Insurance Online?

Below is the process of buying or renewing TATA bike insurance online from Policybazaar.com:

• Step 1: Go to Policybazaar Insurance Brokers Private Limited official website and tap the 'Bike Insurance' button under the 'Insurance Products' button.
• Step 2: Enter the bike's registration number to renew the policy and click 'View Prices.' If you need a new bike, click the 'Bought a New Bike' button.
• Step 3: Select the relevant bike details and click the 'View Plans' button to know your bike's available plans.
• Step 4: Select the TATA bike insurance policy and choose between a third-party or comprehensive bike insurance policy.
• Step 5: You can also buy bike insurance add-on covers to enhance the scope of coverage.
• Step 6: Pay the premium online and receive the TATA bike insurance policy via email at your registered email address.

How to File a TATA AIG Bike Insurance Claim?

Here are different scenarios for which the claims can be raised in the following manner:

1. For Theft Claim

   Follow the below process to raise a theft claim under the TATA bike insurance policy:

   • Step 1: Raise a complaint at the nearest police station and file an FIR.
   • Step 2: Submit it to the insurance provider.
   • Step 3: The insurer will appoint a surveyor to analyse the case.
   • Step 4: Inform the RTO where your bike is registered about the theft incident after the assessment.
   • Step 5: Send the mandatory documents to avoid the claim rejection.
   • Step 6: When your insured bike is not traceable for more than 30 days, the police will issue an 'untraceable report' as valid proof to settle the claims.

2. For Accident Claim

   Follow the below process to raise an accidental damage claim under the TATA bike insurance policy:

   • Step 1: Inform the insurer about the accident. Then, fill out and sign the claim form available on their website.
   • Step 2: The surveyor appointed by the insurer will inspect the damages at the incident site.
   • Step 3: Submit the mandatory documents for processing the claim request to your insurer.
   • Step 4: Once approved by the insurer, send your bike to the network garage for repairs, and the insurer will pay the bill directly. Alternatively, if you choose any local garage, pay the bill first, and the insurer will reimburse you later to your bank account.

3. For Third-Party Claim

   Follow the below process to raise a third-party claim under the TATA bike insurance policy:

   • Step 1: Immediately connect with the insurer and inform them about the accident.
   • Step 2: Share the summons court with your insurance provider.
   • Step 3: Submit the filled & signed TATA bike insurance claim form.
   • Step 4: Collect and send the required documents to the provider.
   • Step 5: The Tribunal court will decide and settle the case.

Documents Required for TATA AIG Bike Insurance Claims

You need to provide the following set of documents depending on the situation:

1. For Theft Claims

   Submit the following documents while raising a claim request in case of a stolen bike:

   • Claim form duly filled and signed by the insured
   • FIR from the police
   • 'Untraceable report' from the police, showing the vehicle is not found.
   • RC, along with all original keys
   • Driving Licence (DL) of the policyholder
   • Bike insurance policy.

2. For Accident Claims

   Submit the following documents while raising a claim request in case of accidental damages:

   • Claim form duly filled and signed
   • FIR (First Information Report or the MCR (Motor Collision Report)
   • Repair invoice, payment receipt, and estimated bills
   • RC of the bike
   • DL of the person riding at the time of the accident
   • Bike insurance policy.

3. For Third-Party Claims

   Submit the following documents while raising a claim request in case of third-party claims:

   • Claim form duly filled and signed
   • DL and RC of the bike
   • Valid bike insurance policy
   • Copy of vehicle's Registration Certificate (RC)
   • Stamp required for company-registered vehicle.