TATA AIG Standalone Own Damage Bike Insurance

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TATA AIG Two Wheeler Insurance Highlights

TATA AIG (Two Wheeler Insurance)
Tata AIG General Insurance Company Limited is a joint venture between the Tata Group and the American International Group (AIG). Tata AIG General Insurance Company Limited celebrated 20 years of service as on 2020, since it commenced operations on January 22, 2001. The company has made a mark in the industry by launching several innovative products and services over the years.
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When your bike gets damaged in an accident, you must pay a considerable sum for the repairs and replacements to make its look and functionality alright. As you see, this may affect your savings significantly. However, if you insure your two-wheeler with a standalone cover, you may wash away all the tensions regarding the payments for its repair. TATA AIG standalone two-wheeler insurance policy supports you financially when your bike causes damage to itself during an accident. You also can purchase various add-on covers with this bike insurance policy for additional protection options.

How does TATA AIG Standalone Own Damage Two Wheeler Insurance Policy Work?

With TATA AIG Standalone bike insurance, you will get financially covered if your bike incurs damages in an accident or becomes a 'total loss' scenario due to theft/irreversible complete damage.

When you choose standalone of TATA AIG bike insurance, you also get the benefit of buying add-ons that add layers to the protection of your bike. The standalone OD policy include protection when:

  • External factors cause accidental damage.
  • Damage occurs due to breaking & entering or theft.
  • A total loss in an accident.
  • There is damage due to fire from an explosion, an implosion, self-ignition, lightning, etc.
  • There is the loss in an earthquake, landslide, rockslide, floods, etc.
  • There is damage during transport of your bike by rail, road, waterways, or air
  • Man-made disasters like riots, strikes, terrorist attacks, malicious actions, etc.

TATA AIG Standalone Own Damage Two Wheeler Insurance Vs. Third Party Two Wheeler Insurance Vs. Comprehensive Two Wheeler Insurance

DifferencesThird Party Bike InsuranceStandalone OD Bike InsuranceComprehensive Bike Insurance
CoverageLimited to third-party  liabilities only.Covers own damage to the insured bike only.Complete coverage including own damage as well as third-party liabilities.
NecessityMandatory to buy as per Motor Vehicles Act.Optional to buy this policy.Optional to buy this policy.
PremiumLow premium as the coverage is pretty basic.High premium as compared to liability only policy.Expensive premium due to wider coverage.
Add-onsNo add-ons can be added.Add-ons can be included.Add-ons can be included.

What is All Covered Under TATA AIG Standalone Own Damage Two Wheeler Insurance Policy?

  • Accidental damages
  • Fire damages due to an explosion, etc.
  • Theft
  • Damages via natural calamities like floods, earthquakes, etc.
  • Damages via man-made disasters like riots, strikes, etc.

What All is not Covered Under TATA AIG Standalone Own Damage Two Wheeler Insurance Policy?

  • Third- party liabilities
  • Depreciation losses
  • Breakdowns (electrical/mechanical)
  • If the rider is drunk during the accident
  • Damages due to nuclear wars etc.
  • If the rider doesn't have a licence or policy

TATA AIG Standalone Own Damage Two Wheeler Insurance Benefits

  • It covers financial losses resulting from accidental damage to your bike.
  • Covers total economic losses in cases of theft, etc.
  • It covers financial losses arising from fires due to explosions that damage your bike.
  • Covers losses due to bike damage (partial/complete) due to natural events like floods, earthquakes, etc.
  • Covers losses that may happen during transit of your bike.

TATA AIG Standalone Own Damage Two Wheeler Insurance Review

With TATA AIG, you don’t have to worry at all. The company ensures hassle-free insurance journey via its huge network of cashless garages, instant policy issuance, smooth claim settlement process, supportive staff, etc. 

TATA AIG Standalone Bike Insurance FAQs

  • 1. Is TATA AIG's own damage bike insurance mandatory for my bike?

    No. A standalone own damage bike insurance is not mandatory, but it is worth buying with your existing third-party policy.

  • 2. Can I buy add-ons with my TATA AIG own damage insurance?

    Yes. Unlike third-party insurance, you can buy add-on coverage with TATA AIG own damage bike insurance to enhance the protection of your

  • 3. What is the policy term for TATA AIG own damage bike insurance?

    Usually your TATA AIG own damage bike insurance policy term is 1 year. But you also have the option to go for long-term policies like 2 or 3 years.

  • 4. Can I file a claim for my TATA AIG standalone two-wheeler insurance online?

    You can file a claim for TATA AIG two-wheeler standalone insurance online.

    • For that, visit the bike insurance page on the website. Go to the ‘Claims’ section and follow the easy procedure. According to the process, you will need to provide the details of the damage to your bike.
    • Alternatively, as soon as your bike meets with an accident, etc., you can get in touch with the insurer by calling or emailing them
    • Finally, you may choose between a cashless claim or getting reimbursed. In the former, you may decide to get your bike repaired at any cashless garage which is always more accessible than the latter.
  • 5. How is TATA AIG standalone own damage bike insurance premium calculated?

    The parameters upon which to calculate the premium of own damage Insurance of your bike include its Insured Declared Value (IDV), purchase year, add-ons, policy type, geographical location, etc.

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