Liberty Bike/Two Wheeler Insurance

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For most Indians, a two-wheeler is still one of their most valued possessions. It is not only a very affordable way of owning transport, a bike or a scooter is also quite convenient in every possible way. Though when it comes to buying an insurance cover for the two-wheeler, many people would want to settle for the cheapest plan available. Though you may save a little initially, you may regret your decision later.  


When on the road, everyone has to follow the set traffic rules. To see that every driver/ rider is cautious of his responsibilities and duties, the authorities have made some specific laws and acts. The Motor Vehicle Act, 1988 is an Act of the Parliament of India that regulates transport vehicles in order to make roads safer. The Act undergoes regular amendments to keep it updated with changing times. 


Currently, the Motor Act states, if you wish to buy any motorised vehicle, you would also have to buy an insurance cover for it. You are spoilt for choices when it comes to picking a two-wheeler insurance company for your bike, however, Liberty General Insurance Company offers some of the best insurance options that too at reasonable deals. 


Founded in 2013, Liberty General Insurance Limited is a collaboration between Liberty Citystate holdings PTE  and Liberty Industries Limited. The company has a workforce of over 1200, operating in 110 offices, spread across 95 cities. With such a robust network, the company is continuously making its presence felt all across India. Let us look at the various aspects of Liberty Two-Wheeler Insurance.

What Types of Two-Wheeler Insurance Plans are offered by Liberty Insurance?

Primarily the company offers 2 kinds of insurance policies:

  1. Annual Policy
    As the name suggests this policy is valid for one year and you pay the premium once in the year. 
  2. Multi-Year Policy
    An exclusive feature by Liberty Two-Wheeler Insurance, under multi year insurance policy you pay the premium once and then enjoy a long-term cover that can go up to 5 years. 

Let us now look at the various options available to buy insurance for your vehicle. While deciding the kind of plan you should choose the option that is most appropriate for you and not only on the criteria of a cheap premium. Keep your vehicle and yourself protected in a beneficial manner.

  1. Liberty Liability Only Two-Wheeler Insurance Policy
    Liability-only insurance is the most elementary kind of motor insurance, which has been made mandatory by the government through the Motor Vehicle Act, 1988. This policy covers the third-party liabilities that you may have to incur.  Third-party liabilities are the expenses that you may have to bear if while riding, you accidentally cause injury or damage to a third person or property. The company will compensate the losses of the third party, however, the damages to your own vehicle would not be covered. Keep in mind the following:
    1. Loss caused to the property of the person by your two-wheeler will be covered up to INR 1 lakh
    2. In case of death of a third party person, there is no upper limit to the amount to be paid as the liability cover 

       
  2. Liberty Two-Wheeler Package Policy
    Under the package policy, there are a number of benefits offered to the bike owner. Unlike third-party cover, when you purchase a package policy for your bike, you are not just covered for third-party liabilities but also covered for the damages that your bike has suffered. The policy also allows you to opt for add-on benefits along with the package. Liberty Two-Wheeler Package Policy has a wide coverage and damages that are caused because of the following would be covered:
    1. Damages caused by natural disasters such as earthquakes, floods, landslides etc.
    2. Damages caused by man-made disasters such as vandalism, riots etc.
    3. Accidental damage to the vehicle
    4. Theft of the vehicle
    5. While in transport via rail, road, lift, inland waterways

       
  3. Liberty Package Standalone Two-Wheeler Insurance
    When you have already purchased the mandatory liability-only cover, but now wish to enhance the cover for your own damages as well, you have the option to go for standalone insurance. Your own damages would be covered under this policy which would include:
    1. Accidental damage to the two-wheeler
    2. Theft of the vehicle
    3. Damages that are caused by natural disasters such as floods, earthquakes, landslides etc.
    4. Damages that are caused by man-made disasters such as terror strikes, vandalism, riots etc.
    5. While in transport via rail, road, lift, inland waterways
  4. Liberty Two Wheeler Bundled Cover
    Under a bundled policy you have the option to opt for liability only for a period of 5 years along with which you can get an own damage cover that can be for 1 or more years. As per the guidelines of the IRDAI, if you purchase a two-wheeler after September 1, 2018, you need to buy a bundled policy. 

     
  5. Personal Accident Cover
    When you get your vehicle insured, you are covered for a Personal Accident. The coverage can go up to INR 15 lakhs, depending on the severity of the accident.

 

What are the Benefits of Liberty Two Wheeler Insurance?

Having two-wheeler insurance is not just mandated by law, but it also has various benefits. Some of these are:

  1. Wholesome Coverage
    With Liberty Two-Wheeler insurance you get a lot of options. Depending on the price and usage of your car, you can go for a plan that suits your insurance needs. 

     
  2. Access to Network Garages
    With a network of over 4300 garages all across the country, in case of an accident, you would never be far away from a Liberty trusted garage. At a network garage, you can avail the best repair services that too through the cashless facility. 

     
  3. Efficient Customer Care
    Liberty Insurance has a friendly and efficient customer care team. In case you have any questions related to your insurance policy, you can get in touch with the company and the matter would be resolved at the earliest. There are multiple modes to connect to the company. You can call, request a callback or write them an email to contact them. 

     
  4. Easy Online Procedures
    An efficient web portal allows you to carry out all the insurance-related procedures online. From calculating the premium, buying the plan, renewal of the policy and notifying a claim, knowing the status of your claim etc just about everything is possible through the portal in an effortless manner. 

     
  5. Hassle-Free and Quick Claims
    Liberty two-wheeler insurance boasts a simple claim settlement procedure. The company is also known for clearing out most of the claims in a quick manner. The claim can be intimated online and minimum paperwork is required. 

     
  6. Add-Ons
    There are many who wish to keep their cherished bike safeguarded from all kinds of damages. If you want there are more ways to enhance the cover over your bike. By paying a little extra amount, you can include add-on covers to your policy. Some popular add-ons are:
    • Depreciation Cover
      By adding a Zero Depreciation Cover to your plan, you save your pocket from paying for depreciated parts. 

       
    • Consumable Cover
      In case of an accident, if the car parts such as fuel filter, nuts and bolts, vehicle oil, coolants etc. are damaged, they would be covered.

       
    • Roadside Assistance 
      In case of breakdown of your insured two-wheeler, you would be offered roadside assistance which includes flat tyre support, support in case of lost keys, transport to a safe location etc. 

       
    • Gap Value Cover
      The difference between the claim amount received for Own Damage and the vehicle value. In case of the total loss of the vehicle, you can receive this amount. 

       
    • Engine Safe Cover
      The consequential damages that are borne by your bike would be covered as per the laid-out conditions.

       

What is Covered under Liberty Two Wheeler Insurance Policy?

Liberty Two Wheeler Insurance plans cover the following:

  1. Liability Only 
    As discussed earlier, liability cover offers you protection against third party damages. The company will compensate the third-party losses that could be to a person or property. In case a dispute is raised after an accident and a case is to be fought in court, the legal expenses would also be borne by the company. 

     
  2. Comprehensive Cover
    A comprehensive cover gets you a third party liability cover along with your vehicle’s own damage. When you have an appropriate bike insurance cover, it gives you a sense of security that even in case of an accident, you would be financially covered. The comprehensive coverage includes the damages due to:
    • Theft
    • Damage due to fire
    • Damages caused by natural disasters such as earthquakes, floods, landslides etc.
    • Damages caused by man-made disasters such as vandalism, riots etc.
    • Transportation of the two-wheeler via inland rail/ road/ water/ air 

Important Note

Personal Accident Cover
Having a personal accident cover is compulsory. A cover-up to INR 15 lakhs is paid as per the severity of the accidental injury. 

Severity of the SituationCompensation
Death100%
Loss of sight of both eyes or two limbs or sight of one eye and one limb100%
Loss of sight of one eye or one limb50%
Permanent Full disablement from other injuries than named above100%



 

What is not covered in Liberty Two Wheeler Insurance plans?

Despite a wide insurance cover, there are certain situations under which the damages to your vehicle would not be covered. Keeping these two-wheeler insurance exclusions in mind will help you ensure that your claims are not rejected.

 

  1. Careless Riding
    If an accident has occurred simply because of your own negligence, a claim for the damages can not be made

     
  2. Wear and Tear
    Regular age-related depreciation or the everyday wear and tear of the bike and its parts would not be covered

     
  3. Riding Without A valid License 
    Riding without a valid Driver’s License, would make you ineligible for a claim

     
  4. Mechanical and Electric Failure
    The damages that are related to a mechanical or an electric failure in the vehicle would not be covered

     
  5. Riding Under Intoxication
    If you were in an accident while under the influence of alcohol or any other intoxicant, your damages would not be eligible for a claim

     
  6. Damages in War
    Loss/ damage suffered during the war would not be accepted

     
  7. Theft of accessories
    The theft of accessories on your bike is not covered in your insurance 

How to Apply for Liberty Two Wheeler Insurance Policy?

Once you make the decision about what kind of insurance you want for your two-wheeler, there are two ways in which you can purchase the insurance policy:

  • Online Method
    To purchase the policy online, you can visit the company website and follow the following steps. If you want you can also visit the website of an insurance aggregator website. The steps are quite similar and well-illustrated:
  • Step 1
    Enter details such as name, date of birth, contact details and the Registration Number of your two-wheeler
  • Step 2
    Fill in the vehicle details such as Registration City, Make, Model and Variant 
  • Step 3
    You may be prompted to attach a Valid ID proof, Driver’s License and some KYC Documents
  • Step 4
    When you have made all the entries, check them once and then proceed towards payment. You can pay the premium through debit/credit cards, Google Pay, net banking or UPI payments
  • Step 5 
    You would soon receive a soft copy of your policy via the contact details that you have mentioned. You can take a print of this document if you wish to

     
  • Offline Method
    As per Government guidelines and keeping in mind the Covid-19 situation, it is recommended that you purchase insurance online, however, if you wish to buy the same offline, you can visit a local branch office. Fill in the Application Form, attach the required documents and pay the premium to get your policy. You can also purchase Liberty Two-Wheeler insurance through a trusted insurance agent.  

How to Make a Claim for Liberty Two Wheeler Insurance?


Unfortunately, if you and your two-wheeler are involved in an accident you have to inform Liberty General Insurance Company as quickly as possible. You can call the customer care helpline on 1800 266 5844 or send them an email or register your claim through the official website. 

Make sure that you follow all the company laid guidelines and instructions in order to have a smooth and problem-free claim settlement. Once the claim is registered a company representative will be in touch with you. The executive will organise a vehicle survey within 24 to 48 hours of the phone call.  After this the vehicle can be moved to a garage,  depending on the garage, your claim will be settled by the company. 

  1. Cashless Claim
    If you want to opt for the cashless claim facility, you would have to take your bike to a network garage.  The list of network garages is available on the company website. After the intimation and the survey, when you take your bike for repair the company would directly settle the dues with the network garage as per the plan option chosen by you. You would have to submit a duly filled and signed Claim Form. 
    To locate a nearby garage, click: liberty insurance.in/products/CPMigration/branch locator 

     
  2. Reimbursement Claim
    In case you didn't get the bike repaired at a network garage,  you can request reimbursement.  However, keep in mind that you inform the company about the same well in advance and prior to the repair. You would be required to attach the claim form along with certain other documents including all bills and receipts related to the repair. 

     

Liberty Two Wheeler Insurance - Renewal of Policy

 

Timely renewal of your insurance policy is extremely important. Failing to do so will not only get you in legal trouble, but you would also be at the risk of being without a cover in case of an accident.  You are given a grace period of 30 days during which you must renew your policy.  Remember if you do not renew your policy and are involved in an accident,  your policy would be considered as invalid and you would not be covered for any losses or damages. 

The policy renewal can be done in 2 ways:

 

  • Online Renewal 
    To renew the policy online, go to the website and click “Renew” under the Self-Help Option. On the renewal page, enter the policy number, the vehicle details along with the required fields of your contact details. Check the next page, add/ drop any add-ons that you wish to, and proceed to Payment. You can make the payment through debit/credit cards, net banking or UPI payments.

     
  • Offline Renewal
    To renew the policy offline, visit a Liberty Insurance Company office. Request for a renewal form. Fill it in, and pay the required premium. To find an office branch near you, click: liberty insurance.in/products/CPMigration/branch locator.  

Liberty Two Wheeler Insurance - Renewal of Expired Policy
If you do not renew your policy on or before the expiry date, your policy enters a grace period. Once this period is over, your policy would lapse. However, if you wish to renew the same, you would have to request the company for a renewal. 

For the renewal of an expired policy, your vehicle would be surveyed by a company executive and only his report would be granted approval. If your policy has expired, get in touch with customer care today.

Liberty Two Wheeler Insurance Plans - Review

Over the past few years, Liberty Two-Wheeler Insurance has maintained a High Claim Settlement Ratio, with a recording of 94% and an Incurred Claim Ratio of 73% in the financial year 2018-19. The company has a network with over 4300 partner garages that offer you cashless repairs, all across the country. Such a wide network of offices and branches all over the country help in making the repairs cashless and also hassle-free. 

Popular among its customers, the company is known for its simple and convenient plans. The customers appreciate the long list of covers, the customer-centric claim settlements, easy renewals, etc. Therefore, if you or anyone around you is planning to get their two-wheeler insured, Liberty Two-Wheeler insurance is a very dependable choice. 

Liberty Two-Wheeler Insurance Contact Details

 

Official Websitehttps://www.libertyinsurance.in
Email IDcare@libertyinsurance.in
Fax Number 022 6700 1606
Toll-Free Number1800-266-5844 (8 am to 8 pm, Everyday)
Company Address 10th floor, Tower A, Peninsula Business Park, Ganpat Rao Kadam Marg, Lower Parel, Mumbai - 400013
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