Liberty Standalone Own Damage Bike Insurance

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Liberty Two Wheeler Insurance Highlights

Liberty (Two Wheeler Insurance)
Liberty General Insurance Ltd. is a joint venture between Liberty Citystate holdings PTE Ltd, a group company of US Headquartered Liberty Mutual Insurance Group, a leading multinational property and casualty group, Enam, a privately owned and managed firm that makes long-term investments in listed companies, as well as backs entrepreneurs building valuable private companies and Diamond Dealtrade Limited belongs to reputed D.P Jindal Group Companies of India, an industrial conglomerate. Liberty General Insurance Limited commenced operations in 2013 with the aim of providing comprehensive retail, commercial and industrial insurance solutions.
Claim Settlement Ratio
-6000+ Network Garages, 184 PPN (Preferred Partner Network) across India -Spot claims - unlimited -Advance cash upto 50% - 6 months repair warranty
close -6000+ Network Garages, 184 PPN (Preferred Partner Network) across India -Spot claims - unlimited -Advance cash upto 50% - 6 months repair warranty

All this while, there were only two types of bike insurance: Third-party policy and comprehensive policy. IRDAI introduced own damage cover or standalone cover to help bike owners with existing third-party only insurance give additional protection to their own vehicle's damages and losses. The standalone cover protects the policyholder against the financial expenses for their bike against any damages and losses in an unfortunate event. 

Being an affordable means of transport for people to commute in cities, towns personally, and even villages, it makes sense to own a two-wheeler. And so it becomes necessary to protect your vehicle, too. Hence, buying Liberty's standalone two wheeler policy is a good idea. So, let’s know its benefits, inclusion, and exclusions are all provided on this page.

How does Liberty Standalone Two Wheeler Insurance Policy Work?

The standalone own damage add-on cover of Liberty bike insurance offers protection against financial expenses for own-damage towards any mishap to your bike. The standalone policy also provides the policyholder with peace of mind amid a crisis by protecting him financially through compensation. It is advisable to purchase Liberty standalone two wheeler insurance policy and your third-party only two-wheeler insurance. Also, the cover offers coverage in a wide array of situations such as floods, road accidents, cyclones, riots, and fire or explosion damage during transit, to name just a few.

Liberty Standalone Bike Insurance Vs Third Party Bike Insurance Vs Comprehensive Bike Insurance

BasisLiberty Third Party Bike insuranceLiberty Standalone Bike Insurance Liberty  Comprehensive Bike Insurance
CoverageThis policy covers only  third party liabilities. Covers only own damage of insured bike in an accident or other unfortunate events.Comprehensive policy protects against own damage of the insured vehicle  as well as third party liabilities
Add-onsNo add-on covers are offered. A variety of add-ons are offered to give extra protection to your bike. Several add-on covers are available to enhance the protection of your two wheeler.
CostComparatively cheaper than a comprehensive cover and standalone cover because of its limited coverage.Costlier than third-party as it offers wider coverage, but cheaper than comprehensive bike insurance. Costlier than both, third-party as well as own damage policy due to wider coverage.
Mandatory by LawYes, Indian Government has mandated it to have third party bike insurance. There is no compulsion to buy standalone two wheeler insurance policy. Comprehensive insurance policy is optional to buy.

How to Buy Liberty Standalone Two Wheeler Insurance? 

Listed below are the steps you have to follow to buy the Liberty standalone bike insurance online :

  • Go to the Liberty General Insurance official website.
  • Click on 'Two-Wheeler Insurance' in the menu.
  • Click on 'Buy Online from the given options.
  • Enter your bike number in the given sequence.
  • Enter the required details - your name, email id and mobile number.
  • Click next and preview the information that comes up with your bike number in the form, including your bike model variant, make, and registration city.
  • Click next if the information is correct / you can edit the info if you find it's not accurate.
  • Fill in the details of the vehicle's registration date, make, year and month, previous policy, and policy type as 'standalone.'
  • Click next, and put the asked details in the form, including your address, identity proof number, driving licence etc.
  • Click next and pay your premium with any online mode of payment like net banking, credit or debit card, UPI, Paytm etc.

What All is Covered Under Liberty Standalone Two Wheeler Insurance Policy? 

Liberty standalone bike insurance policy is liable for the following risks:

  • Death of or bodily injury to owner/driver.
  • Total loss or minor damage to own vehicle.
  • Fire, explosion, or vandalism
  • Stolen
  • Natural/Man-made disasters

What All is not Covered Under Liberty Standalone Two Wheeler Insurance Policy?

Liberty standalone two- wheeler insurance policy, is not liable for the following risks:

  • Third-party liabilities
  • Accident out of the geographical zone
  • Intentional negligence
  • Mishaps involving illegal driving
  • The vehicle is used for commercial purposes
  • Driver is minor
  • Driver without valid driving licence
  • Normal wear and tear
  • Mechanical or electrical failures
  • Depreciation of the vehicle

Benefits of Purchasing Liberty Standalone Two Wheeler Insurance

Liberty own damage bike insurance cover provides several benefits to the insured, including

  • Renewal discounts through no claim bonus
  • Hassle-free inspection and cashless claim settlement
  • Zero documentation, time-saving
  • Instant online policy
  • No paperwork
  • Roadside assistance

Liberty Standalone Two Wheeler Insurance Review

With Liberty standalone bike insurance policy you can get your bike protected not only financially but legally as well. The company offers huge huge of cashless garages across different cities of india, hence ensure to provide you a seamless and hassle-free claim settlement. 

Liberty Standalone Bike Insurance FAQs

  • 1. What is the claim settlement ratio of Liberty General Insurance?

    Liberty General Insurance in the previous year has successfully settled 94% of the claims.

  • 2. What are the details required while furnishing the claim with Liberty General Insurance?

    Following are the details one would require to submit while furnishing a claim with Liberty General Insurance:

    • Bike insurance policy number
    • Policyholder name and contact details
    • Place of accident (full address)
    • Proof/Evidence of accident
    • Address of vehicle for inspection
    • Driver name at the time of the accident
    • Description of the damage sustained by the bike
    • An estimation of the loss
  • 3. Is it mandatory to have LGI standalone bike insurance policy?

    No, it is not mandatory to buy the Liberty General Insurance standalone two-wheeler insurance as per Indian traffic rule; however, every two-wheeler owner must have at least third-party bike insurance.

  • 4. If I have an insurance policy with another insurer, can I switch it to Liberty General Insurance's multi-year two-wheeler insurance?

    Yes, you can transfer your long term two wheeler insurance plan with another insurance company to Liberty General Insurance any time you like.

  • 5. Does Liberty standalone bike Insurance cover tow charges?

    Yes, Liberty General Insurance, under its standalone two-wheeler insurance policy, covers the towing charges of up to INR 300 from the place of accident to the workshop.

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