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Aditya Birla Capital LimitedAditya Birla Capital Limited (“ABCL”) is a listed systemically important non-deposit taking Non-Banking Financial Company (NBFC) and the holding company of the financial services businesses. ABCL and its subsidiaries/JVs provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 61,600 employees, the businesses of ABCL have a nationwide reach with over 1,690 branches and more than 200,000 agents/channel partners along with several bank partners.
Nationwide Branches
1,690
No. of Employees
61,600+
Agents/Channel Partners
2,00,000+
Aggregate Assets
INR 5.53 Lakh Cr
Consolidated Lending Book
INR 1.65 Lakh CrCorporate Governance Policies
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Experience ConseQuest- A game where your decisions drive your future.
Bike Insurance
- Own damage cover
- Third-party liability insurance
- Coverage against theft
Why take Bike Insurance from ABC?
A bike insurance policy is mandatory per the Motor Vehicles Act of 1984. If you drive a bike, you need a valid third-party coverage. While the coverage is mandatory, Aditya Birla Capital provides a smooth experience when buying the policy. Moreover, you get complete assistance at the time of claim, so your policy helps you when you need it most.
Features and Benefits
Value added services
Know your vehicle
Get about your challan details
Get PUC Expiry timely reminders
Pay as you Drive
Pay only for what you drive.
Premiums based on kilometres driven
Save on the premium if you use your car less frequently
From Quote to KYC
Everything Digital
Different types of plans
Choose from comprehensive, third-party or own-damage bike insurance plans depending on your needs.
What's Included?
Third-party bodily injury or death
Get coverage for the financial liability suffered if your car causes physical injury or death of another individua
Third-party property damage
Property damage due to the insured car is covered up to Rs.7.5 lakhs
Natural calamities
Damages suffered due to earthquakes, floods, lightning, roadslides, landslides, hurricanes, typhoons, cyclones, storms, tempests, etc.
Man-made disasters
Damages suffered due to fire, burglary, strikes, malicious acts, riots, etc.
Theft
Financial loss suffered due to the theft of the car
Loss in transit
Damages suffered when the car is being transported by land, air, road or rail
Personal accident cover
Accidental death or permanent disablement suffered by the owner/driver
What's Not Included?
Depreciation due to age
Normal wear and tear of the bike
Driving under the influence of intoxicating substances
Driving without a valid driving licence
Driving outside the borders of the Indian territory
Usage of the bike in violation of its limitations of use
Consequential losses
Mechanical and electrical breakdowns
War and nuclear perils
Illegal activities
Choose The Right Option
Own damage bike insurance plan
- Available if you have an existing third-party policy
- Covers only the damages suffered by the bike
- Offered for one year
Third-party liability plan
- Annual or 5-year coverage
- Covers third party liabilities
- Low premiums
Comprehensive bike insurance plans
- Covers both own damage and third party liability
- Personal accident coverage
- Optional add-ons
Add Riders for Extra Protection
Get Started with Bike Insurance
How to buy?
- Login in to the ABCD App
- Go to the Motor Insurance homepage under the Insurance domain
- Enter your vehicle number & other relevant vehicle details
- Compare various bike insurance plans from leading insurers
- Select any suitable add-ons or update your Insured Declared Value as per the requirement
- Choose the plan that fits your pocket & fulfils your needs
- Get assistance from our call centre (if required)
- Choose any mode of online payment to pay the premium amount
- Once the premium is paid, the policy will be instantly issued
How to renew?
- Login in to the ABCD App
- Go to the Motor Insurance homepage under the Insurance domain
- Enter your vehicle number & other relevant vehicle details
- Compare various bike insurance plans from leading insurers
- Select any suitable add-ons or update your Insured Declared Value as per the requirement. Pro tip: Your IDV should be less than 10% less than Previous year policy
- Choose the plan that fits your pocket & fulfils your needs
- Get assistance from our call centre (if required)
- Choose any mode of online payment to pay the premium amount
- Once Payment, your vehicle policy will be renewed
How to claim?
- Inform about the damage to the Insurance company on their toll-free number or email.
- Fill & submit the claim form along with the required documents
- Take an estimate of the repair of the damaged bike.
- The insurance company will send a surveyor to prepare a report
- Based on the surveyor’s report, your bike will be sent to the network garage for repairs.
- Submit the repair invoice, payment receipt & other documents
- If all the documents are in place, your bike will get repaired in the insurer’s network garage and you get a cashless claim.
- In case of reimbursement, pay the garage for the repairs & the amount will be reimbursed
Customer Satisfaction Stories
Hear from our customers what they have to say about their experience.
Aditya Birla Sun Life Insurance Customer
Due to seamless branch support and timely communication from ABSLI, my maturity payout process was quite smooth.
Aditya Birla Sun Life Insurance Customer
Haryana, India
Aditya Birla Sun Life Insurance Customer
Entire surrender process was quite smooth with timely documentation and payout. Great experience!
Aditya Birla Sun Life Insurance Customer
Gujarat, India
ABCD - One app for all your insurance needs
Secure your vehicle against loss, damages and third-party liabilities. Buy motor insurance plans in a few steps with the ABCD app.
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Choice of plans for both bikes and cars -
Simple online process to buy and renew motor insurance
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One-click premium payments and instant policy issuance
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Understanding Bike Insurance
What is Bike Insurance?
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Bike Insurance is an insurance policy for bikes and scooters. It covers the damages the bike might suffer and compensates for the financial loss.
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Bike Insurance also covers damages caused by the vehicle to third parties and pays the underlying financial liability on your behalf.
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Every two-wheeler must have a bike insurance policy to run on Indian roads legally.
What are the features of Bike Insurance?
- Comprehensive, standalone own-damage and third-party plan options
- New bikes are insured for 5 years under third-party cover
- Lump sum benefit paid in the case of accidental death or disablement
- Covers unlimited liability for third-party deaths
- Offers cashless and reimbursement claims
What are the benefits of Bike Insurance?
Coverage against legal liability
If your bike causes injury, death or property damage to another individual, you are held financially responsible for their loss. The bike insurance policy covers this loss.
Financial security
With the financial compensation allowed under bike insurance, you get financial security against possible accidents or mishaps involving the bike.
Fulfils legal mandate
The bike insurance policy fulfils the legal mandate of having your bike insured. You can avoid legal fines and penalties when you have a bike insurance policy
Affordable
The premiums of the policy are affordable, and the available discounts also lower the premium outgo
Add-ons enhance coverage
Comprehensive bike insurance plans offer a choice of riders which enhance the coverage and provide added financial security
Common Bike Insurance terminologies
IDV
Short for Insured Declared Value. It represents the vehicle’s value after factoring in age-based depreciation.
Compulsory deductible
The part of claim which is compulsorily borne by the policyholder while the insurer pays the rest.
Voluntary deductible
The part of claim which you voluntarily undertake to pay from your pockets over and above the compulsory deductible
Add-ons
Optional coverage features that enhance the scope of the policy and are available at an additional premium
No Claim Bonus (NCB)
Premium discount allowed on renewals for not making claims in the previous policy years.
What factors affect the Bike Insurance premium?
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Type of policy
comprehensive plans charge a higher premium than third-party plans.
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IDV
Higher the IDV, higher the premium
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Age of the vehicle
Older the vehicle, lower the premium
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Registration location
Bikes in metros attract higher premiums
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Claim history
Premiums are higher if claims have been made in past years
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Make, model and variant
It determines the bike’s value, which affects the premium
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Available discounts
discounts reduce the overall premium
How is the IDV calculated under Bike Insurance plans?
IDV is calculated by the following formula
IDV = (market value of the vehicle - depreciation) + (value of accessories - depreciation on accessories)
Depreciation is determined as follows
|
Age of the vehicle |
Depreciation rate |
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Less than 6 months |
5% |
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More than 6 months but less than a year |
15% |
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More than a year but less than 2 years |
20% |
|
More than 2 years but less than 3 years |
30% |
|
More than 3 years but less than 4 years |
40% |
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More than 4 years but less than 5 years |
50% |
|
More than 5 years |
Agreed mutually between the policyholder and insurance company |
How much No Claim Bonus is available under Bike Insurance plans?
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After one claim-free year - 20%
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After two successive claim-free years - 25%
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After three successive claim-free years - 35%
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After four successive claim-free years - 45%
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After five successive claim-free years - 50%
Super Top-up Health Plans
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Coverage up to Rs.1 crore
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Buy online at affordable premiums
Margin Trading Facility
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Buy stocks on NSE/BSE
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Cash or pledged stocks for margin trading
FAQs on Bike Insurance
According to the Motor Vehicle Act of 1988, bike owners must have insurance. This mandatory policy safeguards you from the financial responsibility of covering injuries or damages to third parties in case of an accident.
If you lose your bike insurance papers, ask your insurance company for a duplicate. Also, report the loss to the nearest police station to prevent potential problems later.
Yes, your bike insurance is valid throughout India so you can ride to any State without concerns about coverage.
PA means personal accident cover. This provides Rs. 15 lakhs in case of an accident for the rider/driver. Compensation applies if the rider/owner loses their life or becomes disabled due to an accident covered by the bike insurance policy.
It's against the law. If caught by the traffic police for the first time, you'll be fined Rs. 2,000. The penalty for a second offence is Rs. 4,000, which may lead to imprisonment. Ensure you have at least the minimum third-party insurance to avoid these consequences.
While there's no specific limit on the total claims per year, the total amount claimed should not exceed the bike's coverage. Reviewing the policy documents to understand these details and prevent any issues is advisable.
You have options like third-party liability, comprehensive, and standalone own damage insurance policies. Each serves different purposes, and their costs vary based on what they cover.
If your bike needs repairs, go to a garage networked with your insurance company. There, you won't have to pay for the repairs directly. Your insurance provider will handle the payment directly with the garage.
If you decide to use a garage of your choice for bike repairs, which is not under the insurer’s network garage list, you pay for the fixes and then later ask your insurance company to reimburse you. That's a reimbursement claim.
Comprehensive and standalone, own-damage bike insurance plans are offered for a tenure of one year. In the case of a new bike, the third party liability policy is issued for a tenure of 5 years as mandated by law. If you do not have a new bike and buy the third-party policy, the coverage would be allowed for one year.
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Proof of address: Aadhar card, passport, driving licence, PAN card, voter ID, ration card with photo
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Proof of address: Aadhar card, passport, driving licence, voter ID, ration card with photo
Add-on covers are benefit additions to your two-wheeler policy that are available at an extra cost. Some popular add-on covers are:
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Zero-depreciation cover: With this cover, there will be no depreciation-related deduction in your claim benefit amount.
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No-claim bonus: NCB (no-claim bonus) is an amount you receive in a year when you have not made any claims.
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Emergency assistance cover: This cover provides you with emergency roadside services such as minor repairs, tyre changes, etc.
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Daily allowance benefit: When your vehicle is at the service centre, this cover provides you with a travel allowance.
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Helmet cover: You can get your helmet repaired or replaced in case of damage during an accident.
18% GST is applicable on two-wheeler insurance.
If your policy expires before you could renew it, there is a 90-day grace period within which renewal is still possible. If you miss that as well, you will have to buy a new insurance policy.
Yes, it is possible to claim bike insurance without your driving licence with a Loss of Licence/RC Cover.
An endorsement is a document that amends your bike insurance policy terms.
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It will not cover your bike for damage, loss, or theft.
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You can not buy add-on covers.
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You can not customise your IDV (Insured Declared Value).
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