The number of two-wheelers in Ludhiana exceeds any other type of vehicle. Two-wheelers are more prone to damage and have less protective gears to safeguard the parts. Having two-wheeler insurance is a must considering the busy and dynamic roads of Ludhiana. We provide two-wheeler insurance at an affordable cost which can vary with the type of two-wheeler you have. There are geared, non-geared and electric two-wheelers with different insurance policies, and their price differs vastly based on their engine. We also provide a Roadside Assistance add-on, which is of great help to the customers. One can get instant help through these insurance claims. We at Ask My Policy provide the best of these insurance rates and are well known for your service in and around Ludhiana. The list of our services is many, starting from two-wheeler insurance to car insurance. The two-wheeler can also be a victim of brutal vandalism in some cases. Therefore, it is wise to take insurance covering all sorts of events starting from calamities, vandalism, accidents, etc. Our insurance is very easy to claim, and the process is very hassle-free and has been made very convenient for our customers. We guarantee you the best service in the town.
STEPS TO GET BEST CASHLESS BIKE INSURANCE
- CLICK ON WHATSAPP
- SUBMIT THE INSURANCE DOCUMENTS
- ASKMYPOLICY WILL CALL YOU
POPULAR BIKE INSURANCE COMPANIES
WHAT IS BIKE INSURANCE?
BIKE INUSRANCE IS A CONTRACT BETWEEN INSURED AND INSURER IN WHICH INSURANCE COMAPANY PROMISES TO PROTECT THE BIKE OWNER FROM FINANCIAL LOSSES RELATING TO HIS/HER BIKE ARISING DUE TO ANY RISKS AND DAMAGES LIKE ROAD ACCIDENT,THEFT,FIRE,calamities, man-made calamities, vandalism, etc.IN RETURN FOR THIS PROMISE,THE BIKE OWNER PAYS AN AMOUNT KNOWN AS FOUR WHEELER INSURANCE PREMIUM TO THE INSURANCE COMPANY.THE PROTECTION PROMISES BY THE INSURANCE COMPANY IS DEPENDS ON THE COVERAGE OPTED BY THE BIKE INSURANCE OWNER.
What are the different types of BIKE insurance policy in India?
IN INDIA,THERE ARE THREE TYPES OF BIKE INSURANCE NAMELY AS THIRD PARTY BIKE INSURANCE POLICY,Comprehensive BIKE Insurance Policy, and Standalone Own-Damage BIKE Insurance Policy.IN THIRD PARTY BIKE INSURANCE, THE INSURER Coverage for third party liabilities only. a comprehensive BIKE insurance policy provides coverage for own damages in addition to third party liabilities. A standalone own-damage cover provides coverage only for own-damages incurred by the insured’s BIKE.
HOW MUCH OF MY BIKE INSURANCE PREMIUM?
THE PREMIUM FOR THE THIRD PARTY BIKE INSURANCE DEPENDS ON THE CUBIC CAPACITY OF THE BIKE AND IS FIXED BY THE IRDAI.HOWEVER THE PREMIUM OF THE STANDALONE OWN DAMAGE AND THE COMPREHENSIVE BIKE INSURANCE POLICIES VARIES FROM BIKE TO BIKE DEPENDING ON THE VARIOUS FACTORS LIKE MAKE,MODEL AND VARIANT,RTO LOCATION,CUBIC CAPACITY, FUEL TYPE ETC. THIS ALSO DEPENDS ON THE REQUIREMENTS OF BIKE OWNER AND ADD-ON COVERS LIKE ENGINE PROTECTION COVER,RETURN TO INVOICE COVER,NCB PROTECTION COVER,KEY PROTECTION COVER ETC.
CAN I AVAIL DEPRECIATION-COVER AFTER 5 YEARS IN MY BIKE INSURANCE POLICY?
YES SOME INSURANCE COMPANIES OFFERS DEPRECIATION COVER(S) AND ADD-ON COVER(S) UPTO 10 YEARS ON BIKE INSURANCE POLICY.SOMETIMES IT DEPENDS ON THE PREVIOUS BIKE INSURANCE POLICY.ONE OR TWO BEST INSURANCE COMPANIES LIKE IFFCO TOKIO GENERAL INSURANCE COMPANY AND REHAJA QBE GENERAL INSURANCE COMPANY LIMITED OFFERS DEP CAP COVER(S) BEYOND 5 YEARS.
HOW MANY TIMES I CAN GET CLAIM ON MY BIKE INSURANCE POLICY?
EVERY INSURANCE COMPANY PROMISES TO GIVE TWICE FULL CLAIM ON YOUR BIKE INSURANCE POLICY BUT SOME GENERAL MOTOR INSURANCE COMPANIES OFFERS UNLIMITED CLAIMS.AFTER GETTING THIRD TIME CLAIM ON YOUR BIKE INSURANCE THE INSURER SETTELTED 50% CLAIM ON YOUR DAMAGE PARTS.ALTHOUGH THE BENEFITS OF NCB(NO CLAIM BONUS) WILL BE CHANGE TO 0% ON THE NEXT RENEWAL ON YOUR VEHICLE INSURANCE.
WHAT IF MY BIKE INSURANCE GETS EXPIRED?
EVERY BIKE INSURANCE COMES WITH A VALIDITY PERIOD,POST WHICH YOU NEED TO RENEW IT TO CONTINUE TO ENJOY ITS BENEFITS.HOWEVER,EVEN IF YOU MISS TO GET YOUR BIKE INSURANCE PLAN RENEWED BY THE EXPIRY DATE,YOU CAN STILL GET IT RENEWED TILL THE NEXT 90 DAYS FROM THE DATE OF EXPIRY.AFTER THE EXPIRY OF THIS 90-DAY PERIOD,A BIKE INSURANE CANNOT BE RENEWED.IN THAT CASE,YOU NEED TO BUY THE NEW FRESH BIKE INUSURANCE POLICY BY DO PRE-INSPECTION OF YOUR BIKE.
WHAT IS NCB?
NCB STANDS FOR NO CLAIM BONUS WHICH STARTS FROM 0% AND LIMITED TO 50% ON MOTOR INSURANCE POLICY.AT FIRST YEAR THE NCB IS ALWAYS 0%, 2ND YEAR IT GET INCREASES TO 10% IF INSURED HAVE NO CLAIM LAST YEAR ON HIS/HER BIKE INSURANCE POLICY.IN SUCH A WAY THE INSURER INCREASES THAT PERCENTAGE OF NCB TO LAST 50% IN THE 5 YEARS.NCB ALSO TELLS THE DRIVING SKILLS OF THE BIKE OWNER.
IS BIKE INSURANCE POLICY IS MANDATORY IN INDIA?
As per the Indian Motor Tariff, every BIKE owner in the country is compulsorily required to own at least a third party BIKE insurance cover. Absence of a valid third party BIKE insurance plan is a punishable offence which attracts a fine of Rs. 2,000 and/or imprisonment of up to 3 months for the first offence.
HOW INSURANCE COMPANIES CALCULATES THE PREMIUM?
THE PREMIUM OF THE THIRD PARTY BIKE INSURANCE IS DETERMINED BY THE IRADI,WHEREAS THE PREMIUM FOR COMPREHNSIVE PLANS AND STANDALONE OWN DAMAGE VARY FROM INSURANCE COMPANY TO COMPANY.SOME FACTORS WHICH EFFECTS THE OWN DAMAGE PREMIUM FOUR WHEELER INSURANCE COVERS. a) IDV (INSURED DECLARED VALUE): THE MARKET VALUE OF THE FOUR WHEELER VEHCILE. HIGHER THE VALUE THEN MORE IS THE PREMIUM.LOWER THE VALUE LESSER IS THE PREMIUM.THE IDV WILL COUNT AT THE TIME OF TOTAL LOSS CLAIM, THEFT,FIRE ETC. B)CUBIC CAPACITY GREATER THE BIKE'S CUBIC CAPACITY,HIGHER IS THE PREMIUM AND VICE A VERSA C)AGE OF THE BIKE WITH TIME THE VALUE OF THE FOUR WHEELER REDUCES DUE TO DEPRECIATION.THIS WILL REDUCES THE VALUE OF BIKE IN THE MARKET DUE TO WHICH ITS INSURANCE PREMIUM ALSO REDUCES.THUS GREATER THE AGE.LOWER THE PREMIUM. D)MAKE MODEL AND VARIANT: For different make, model and variants of the BIKE, the different premium is applicable. E)RTO LOCATION Another important factor is the RTO location of the BIKE. It gives the insurance company an idea about the density of traffic in the area/city where the BIKE will be driven and thus the probability of road accidents and other mishaps.
HOW TO PAY PREMIUM FOR BIKE INSURANCE POLICY?
You can pay using a credit BIKEd, debit BIKEd, cash or net banking on AskMyPolicy
HOW TO CLAIM ON BIKE INSURANCE POLICY?
FIRSTLY CALL ON TOLL FREE NUMBER GIVEN BY INSURER.ELSE YOU CAN CALL ON THE CONTACT NO OF ASKMYPOLICY,OUR EXECUTIVE WILL GUIDE THE CLAIM PROCESS.