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HDFC ERGO Third Party Bike Insurance
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HDFC ERGO Two Wheeler Insurance Highlights
HDFC ERGO General Insurance Company Ltd. is a joint venture between HDFC Ltd., India’s premier Housing Finance Institution and ERGO International AG. Key highlights of its insurance offering are- • 8562+ network garages • Digital survey for vehicle claims • 96% within one day ""cashless claim settlement"" • Overnight vehicle Repairs (available for cars in 16 cities) • Paperless claim processing
Claim Settlement Ratio
Available upto Rs 20,000 via self survey and upto Rs 50,000 via workshop survey
Available upto Rs 20,000 via self survey and upto Rs 50,000 via workshop survey
Third-party insurance is mandatory under the Motor Vehicles Act for all vehicle owners to carry. Without availing of third-party insurance, if you drive a vehicle, it could attract penalties and have legal repercussions to it. Third-party insurance provides financial cover to the third party for the damage caused by your vehicle. These could include vehicular as well as bodily injuries.
The third party policy of HDFC ERGO two wheeler insurance is a limited form of insurance coverage that only provides financial cover to physical and vehicular third-party damages involuntarily. The third-party will get the compensation, and you will get the protection against the legal liabilities levied by the third-party.
How does HDFC ERGO Third Party Two Wheeler Insurance Policy Work?
All vehicle owners must get third-party insurance. The premiums for third-party insurance tend to be lower due to the limited benefits that come with it. After purchasing the new vehicle, you must avail yourself of the HDFC ERGO third party two wheeler insurance as soon as possible.
HDFC ERGO Third Party Two Wheeler Insurance vs. Comprehensive Two Wheeler Insurance
The insured can avail two types of bike insurance. Bike owners can either stick with the mandatory third-party insurance or they can opt to purchase the comprehensive insurance. Following is the tabular representation of the differences and the specifications of the HDFC ERGO third party two wheeler insurance:
|HDFC ERGO Third Party Two Wheeler Insurance||HDFC ERGO Comprehensive Two Wheeler Insurance|
|The financial protection cover is extended only to the third-party.||The financial protection covers third parties as well as policyholders.|
|HDFC ERGO third party two wheeler insurance does not allow the policyholder to customize their insurance policy.||HDFC ERGO comprehensive two wheeler insurance allows policyholders to customize the policy.|
|This policy is mandatory for all vehicle owners.||It is not mandatory for all vehicle owners.|
|Premiums of this policy are lower.||Premiums of this policy are higher.|
How to Buy HDFC ERGO Third Party Two Wheeler Insurance?
Follow the following steps to purchase HDFC ERGO third party two wheeler insurance:
- Step One: Visit the official website of HDFC ERGO.
- Step Two: Navigate through the website for a new policy purchase.
- Step Three: Provide the necessary information, such as vehicle brand and the model variant.
- Step Four: Select the RTO and then provide the registration number.
- Step Five: A tentative quotation will be sent to you on your registered mobile number.
- Step Six: Select HDFC ERGO third party two wheeler insurance.
- Step Seven: You will get the premium amount.
- Step Eight: Make payment via net banking or through a credit or debit card to complete the procedure.
What All is Covered Under HDFC ERGO Third Party Two Wheeler Insurance?
The following things are covered in your HDFC ERGO third party two wheeler insurance:
- Accident: The third-party's physical and vehicular damages are covered under this insurance.
- Property loss: The financial cover is also extended to the damages that are incurred on any immovable asset, or the property of the third-party gets damaged in the accident.
What All is not Covered Under HDFC ERGO Third Party Two Wheeler Insurance?
The following things are not covered under the HDFC ERGO third party two wheeler insurance:
- Own Damages: The damages incurred by you or your vehicle are not protected under this insurance.
- Driving without a licence: If the accident occurred while driving without any proper licence, then the insurer won't cover those damages.
- Driving Under the Influence: If you were driving under the influence of the intoxicants such as alcohol or any other drug, you are liable to pay all the damages inflicted on the third-party.
- Geographical Location: If the accident occurred outside the jurisdiction limit of your registered RTO, then the insurer is not liable to pay the damages.
- War: Any damages inflicted on the vehicle because of the war or any event that was the result of the war, the insurer will not pay any damages incurred.
Key Benefits of Purchasing HDFC ERGO Third Party Two Wheeler Insurance
Following are the benefits you avail yourself when you purchase HDFC ERGO third party two wheeler insurance:
- HDFC ERGO third party two wheeler insurance makes you legally eligible to drive on the streets of India. This will save you from many fines and penalties at the checkpoints.
- The protection is extended to the third-party against the vehicular or personal or property damages incurred due to your negligence.
- HDFC ERGO third party two wheeler insurance is cost-effective as the premiums are low.
- You get legal protection against the liabilities claimed by the third party after the accident.
- It is easy to purchase and renew the HDFC ERGO third party two wheeler insurance online. This saves you from spending too much time, money, and energy in order to get insurance.
HDFC ERGO Third Party Two Wheeler Insurance Review
As indicated by all the customer testimonials and the reviews on the website as well as on other platforms, it is safe to say that the HDFC ERGO third party two wheeler insurance provides all the benefits that it promises in the base policy documents.
Add ons for your Two Wheeler Insurance
HDFC ERGO Third-party Bike Insurance FAQs
1. What is the claim settlement ratio of HDFC ERGO third party two wheeler insurance?
HDFC ERGO third party two wheeler insurance's claim settlement ratio was 91.23% for privately owned vehicles in the financial year 2020.
2. Is the death of the third party covered under the HDFC ERGO third party two wheeler insurance?
Yes, the death of the third-party is covered under HDFC ERGO third party two wheeler insurance.
3. Is it mandatory to produce FIR to claim HDFC ERGO third party two wheeler insurance?
Yes, it is mandatory to produce FIR or chargesheet to claim HDFC ERGO third party two wheeler insurance.
4. How the premium amount is determined in the HDFC ERGO third party insurance?
The engine capacity of your vehicle and the RTO to which your vehicle is registered are the huge determiners in deciding upon the third-party insurances premiums.
5. Can I extend the benefits offered under the HDFC ERGO Third-Party Two-Wheeler Insurance?
No, you cannot change the third-party insurance's base policy, nor are you allowed to add any Add On covers to customize your policy. To get more benefits, you can purchase a comprehensive policy.
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