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The DHFL General Insurance Company started off to offer only Home Loans. However, now, it holds a huge stake in the insurance industry as well and offers a whole range of products in its bouquet ranging from Bike Insurance to Car Insurance, Life Insurance to Home Insurance and many others.
DHFL General Insurance Limited is registered with The Insurance Regulatory and Development Authority of India and is one of the insurance companies leading the way from the forefront to cater to the needs of every individual customer as per their insurance requirement. DHFL, among all the other Insurance companies, is the only one which is backed by Wadhawan Global Capital, headed by Mr. Kapil Wadhawan.
DHFL General Insurance Company has bagged innumerable awards for its excellence in service. DHFL had already issued more than 4.1 lakh policies at the end of the financial year 2019, has a high claim settlement rate of 75.66% in FY19 and has more than 1100 network garages under its cover. DHFL offers round the clock service to its customers through its 24/7 emergency assistance call. Headquartered at Mumbai, Maharashtra, now stands at one of the leading insurance brands for two-wheelers.
1. COCORIDE Third- Party Liability Only Insurance Plan:
Cocoride Third Party Liability only Insurance Plan provides a cover for any expenses arising out of third party liability. In case the damage to the third-party bike, property or death of a third party is caused owing to an accident involving the insured bike, then the expenses to repair the damage of the bike or property or to compensate the third-party loss of life, the company provides a cover for the same. It is mandatory, by the Indian law, to buy a third party only insurance plan for every two wheeler.
The two types of DHFL third party liability only plans are:
For bikes purchased after 1st September 2018, the Indian government has made it mandatory to purchase the Third-Party Liability Only cover for 5 years by all the bike owners.
The Compulsory Personal Accident (CPA) including cover for the owner-driver, comes for an excess amount of premium. A lump sum amount of INR 15 lakhs is provided as compensation to the owner rider or his beneficiary in such a situation wherein he receives any accidental injuries/death in which the insured vehicle is directly involved. This payment is given as per the following chart:
Situational severity | Level of Compensation |
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Death | 100% |
Loss of sight of two eyes or two limbs or sight of one eye and one limb | 100% |
Loss of sight of one eye or one limb | 50% |
Permanent Full disablement from other injuries than named above | 100% |
2. COCORIDE Two Wheeler Package Policy:
The two-wheeler Package policies of DHFL are all-encompassing in nature. In addition to the benefits provided for the third party liabilities, the package policies also provide protection against personal damage for the owner rider. The comprehensive package policy, as the name suggests extends the cover provided by the plan, manifold for the benefit of the customer. It also comes with an array of add on covers. However, an added amount of premium needs to be paid for each add on cover which is taken up with the basic policy. The customer stands to benefit from the add on covers even though he pays a higher premium as the cover protects against unforeseen instances which might prove to be far more expensive than the hiked premium.
DHFL offers two types of Comprehensive Bike Insurance. They are
3. COCO Ride Two-Wheeler Policy — Navi General Insurance — Bundled (1+5):
DHFL Bundled Cover Plan provides Third Party Liability Cover for 5 years and also against damages to your own bike for a period of 1 year only. This type of policy is available to new bikes.
4. COCO Ride Two-Wheeler Own Damage Policy — Navi General Insurance:
Standalone Own Damage Cover Plan, with effect from 1st September 2019, does not come as a bundled product with third-party liability only plans. A Standalone Own Damage Cover Plan is an option only for the bikes bought after 1st September 2018 who can buy it for the second year.
As it is compulsory for all bike owners to sign up for a 5-year third party liability only plan, the Standalone Own Damage Cover Plan can be taken up now as an optional and independent plan provided you have a valid third-party insurance plan.
The DHFL Coco Ride two-wheeler policy issuance or renewal process is a completely paperless procedure. No paperwork is involved in buying or renewing the policy online. This makes the process extremely convenient for the buyer of the policy.
DHFL Coco Ride policies offer an extensive range of add-on covers, which allow the policy holders to customise the policy as per their requirements. There are more than twelve add on covers offered by DHFL Coco Ride Bike insurance policies which helps you to extend your bike insurance as you desire. Let us take a detailed look at the add on covers extended by DHFL bike Insurance:
As a result of a bike accident, if there happens to be a case of death or injury to the body parts of the rider or the pillion rider, the medical bills are covered by The Personal Accident Cover of DHFL Two-Wheeler Insurance plan.
DHFL Bike Insurance Plans does not include certain claims, which, if you do not remember at the time of placing your claims, then, your claim might get rejected by the company. Let us take a look at such two-wheeler exclusions:
Step 1: Visit the official website of DHFL Bike Insurance and Fill the form
You need to visit the official website and pick your choice of plan. Fill up your details (name, address, contact information, etc) and necessary details of your bike (Make, model, registration number of your bike, etc.) in the form and submit.
Step 2: Copy of documents to be submitted online:
Once your form is filled with the necessary details, you need to submit the supporting documents like your KYC document, Id proof, etc
Step 3: Payment of Premium:
You have to ensure that the premium is paid online through any of the online modes available for payment. It could either be paid by the mode of debit/credit cards, net banking or other payment wallets.
Immediately after you make the online premium payment, the online policy document reaches your registered mail Id. No involvement of agencies is required, if the mentioned steps are followed by you, your policy will be issued directly, online.
In order to renew your COCORIDE Two-Wheeler Insurance Plan, you can call their Toll Free 1800 123 0004 (From 8 am to 8 pm) or send them an email with your policy details to mycare@navi.com
The following benefits will be received if you renew your DHFL Bike Insurance policy online:
DHFL follows an extremely customer friendly process for claim settlement. The step-by-step process for claim settlement of DHFL Bike Insurance are as follows:
Step 1: Register your claim:
You need to register your claim with the company immediately after an accident. To do so, you can contact them at their toll free number 1800-123-0004 or mail them at insurance.help@navi.com , you could also walk into any of their branches.
Step 2: Survey at the Network Garage:
You need to take your vehicle to the nearest network garage with all valid documents like duly filled claim form, registration certificate of the vehicle, driving licence of the rider, police report of the incident, your KYC documents, etc. An inspection will be conducted by a surveyor to estimate the damage.
Step 3: Settlement of claims:
Once the evaluation of the damage is done at the network garage, the bike is repaired and the final bill is submitted by the garage to the company for a Claim Amount Confirmation. The amount will be settled by the company to the garage within 7 working days.
Your DHFL Coco ride bike insurance policy will lapse in case the premium of the policy is not paid within the grace period provided by the company. The grace period is usually for a period of thirty days from the date of expiry of the policy. In case you make the payment of the premium within the grace period, your policy is revived and all the benefits attached to it remains unchanged.
In case your premium is not paid within the grace period, then your policy lapses and all benefits attached to it, ceases to exist. In such a situation, the policy cannot be renewed, a fresh quote for a fresh policy has to be taken after inspection by the company.
The Indian Government has now made it compulsory to get your bike insured for third party damages. However, opting for a comprehensive bike insurance plan would give you peace of mind as your own bike would also be covered against damages. This is where COCO Ride Two-wheeler policy comes handy. The COCO Ride policies offer protection for the bikes in case of an unprecedented incident, theft or any other natural or man-made disasters. Customers of DHFL Coco Ride are extremely satisfied with the efficient and fast service rendered to them at the time of issuance, renewal of the policy or at the time of claim settlement. The DHFL COCO Ride Bike Insurance Plans provide an assurance of protection to its customers which lessens their worries regarding their two-wheelers.
Registered Office Address | Office Nos. 402, 403 & 404, A & B Wing, 4th Floor, Fulcrum, Sahar Road, Next to Hyatt Regency, Andheri (East) Mumbai 400 099, Maharashtra |
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Email Id: For senior citizens | mycare@navi.com |
Toll-Free Number
| New Customers: 1800-123-0004 (from 8 A.M to 8 P.M) SMS- DHFL to 56677 |
You can also visit any branch office of DHFL bike insurance to get your service or get answers to your queries.
Third-Party Liability Only Plan comes for a lesser premium amount than the Comprehensive Plan but the latter not only includes the third-party liability cover but also has an own damage cover. It is a good idea to pay up a higher price for more protection.
DHFL makes a 30 days window available for the renewal of the policy, from the date of expiry. In case the policy is renewed within 30 days, No Claim Bonus will remain active. Once the grace period of 30 days is over and you didn't renew your policy, no benefits of No Claim Bonus will be carried forward to the renewed policy.
The following factors help to decide the premium amount for a particular policy in DHFL Bike Insurance:
COCO by DHFL provides bike insurance policies which are customer-friendly, pocket-friendly and has no troubles involved. Following are the features of COCO Ride policies:
little more for bigger protection.
Add on covers are the additional benefits which stand by us when the need for it arises. Chola MS offers the following add on covers for bike insurance policies:
Passenger Cover
Provides compensation to the pillion rider in case of death, partial/permanent disability in an accident. Though this comes for a higher premium amount, this add on is highly beneficial.
Zero/Nil Depreciation cover:
The expenses incurred for replacing parts of the bike after an accident can be claimed in totality without deducting its depreciation value by way of this cover. You need to pay a higher premium amount and the company pays for the spare parts and the depreciation value.
Accessories cover:
This cover protects you against any loss or damage incurred on the expensive electrical and non-electrical accessories installed in your bike. To avail this add on the facility, you need to give an estimate of the value of your accessories at the time of paying a premium.
Medical cover:
This covers all kinds of medical treatments related to your accident on your insured bike.
Insured Declared Value is what IDV stands for. The maximum amount up to which the insured can claim during the tenure of the insurance policy of the two-wheeler.
Chola MS has a validity of 30 days available from the date of expiry of the policy for its renewal. No Claim Bonus will become null and void in case the policy is not renewed within 30 days and no benefits of No Claim Bonus will be carried forward to the renewed policy after the grace period of 30 days.
You can call up the customer service number and inform them to cancel the policy. You need to submit the original policy document and other relevant documents either on the mail or by visiting a nearby branch office. You can follow-up after 7 days to find out if the policy has been cancelled.