How to Buy and Renew Two-Wheeler Insurance for Hero Bike?

A two wheeler insurance policy offers financial coverage against accidents, damages, and third-party liabilities involving your Hero Bike. In India, it is mandatory, under the Motor Vehicles Act 1988, to have at least a third-party insurance policy for your bike. However, a comprehensive insurance plan offers better coverage and peace of mind.

But choosing the right insurance, purchasing it hassle-free, and ensuring timely renewal can sometimes be confusing. This guide will take you through everything you need to know about buying and renewing Hero Bike insurance, making the process effortless and efficient.

How to Buy Two-Wheeler Insurance for Your Hero Bike?

Buying Hero Bike insurance is simpler than ever, thanks to online insurance platforms. Here’s a step-by-step guide to purchasing the right policy for your bike:

Step 1: Assess Your Insurance Needs

• If you want basic legal coverage, opt for a third-party policy.

• If you wish to have broader coverage, choose a comprehensive plan that includes own-damage protection.

• Consider add-ons like zero depreciation, roadside assistance, and personal accident cover for enhanced protection.

Step 2: Compare Insurance Policies Online

• Visit insurer websites and compare two wheeler insurance plans.

• Check the coverage, premium amount, claim settlement ratio, and customer reviews before deciding.

• Use an online premium calculator to find the best policy within your budget.

Step 3: Enter Your Hero Bike Details

• Provide basic details like the registration number, model, year of purchase, and location.

• Ensure the Insured Declared Value (IDV) is accurate, as it determines the sum assured in case of total loss or theft.

Step 4: Select Add-Ons (If Needed)

Enhance your Hero Bike insurance with optional add-ons such as:

• Zero Depreciation Cover: Prevents depreciation deductions on claim amounts.

• Roadside Assistance: Helps in case of breakdowns or emergencies.

• Engine Protection: Covers engine damage due to floods or oil leaks.

Step 5: Review & Make Payment

• Go through the policy details, inclusions, and exclusions.

• Make the payment online using your preferred method.

• Instantly receive the digital policy document via email.

By purchasing two-wheeler insurance online, you can avoid paperwork, save time, and even get to make the most of online savings.

Why Is Renewing Your Hero Bike Insurance Important?

A lapse in your Hero Bike insurance can lead to legal complications, financial losses, and loss of benefits like the No Claim Bonus (NCB). Renewing your policy on time ensures continued protection and legally covers your bike.

Consequences of Not Renewing Your Two-Wheeler Insurance

• Legal Fines: Riding without valid insurance can result in hefty fines.

• Loss of Financial Protection: You’ll bear the entire cost of damages or repairs in case of an accident.

• Loss of NCB Benefits: If you do not renew your insurance within 90 days of expiry, you lose the accumulated No Claim Bonus (NCB).

How to Renew Your Hero Bike Insurance Online?

Renewing your two wheeler insurance is a straightforward process that ensures uninterrupted coverage for your Hero Bike. Here’s how you can do it online:

Step 1: Visit the Insurer’s Website

• Go to the insurance provider’s website and navigate to the renewal section.

Step 2: Enter Your Policy Details

• Provide your existing policy number or bike registration details to retrieve your current policy information.

Step 3: Review and Modify Your Coverage

• Update your Insured Declared Value (IDV) based on your bike’s current market value.

• Add or remove optional covers based on your current needs.

• Check for any available NCB online savings if you haven’t made any claims in the previous policy year.

Step 4: Make the Payment

• Choose your preferred payment method and complete the renewal transaction.

• Once the payment is made, you will instantly receive a soft copy of the renewed policy.

Renewing your Hero Bike insurance online is quick, paperless, and convenient, eliminating the need for physical visits to insurance offices.

Factors That Affect Your Hero Bike Insurance Premium

Understanding what influences your two-wheeler insurance premium can help you make an informed decision. Key factors include:

• Bike’s Age and IDV: The older the bike, the lower the Insured Declared Value (IDV), which reduces the premium.

• Add-Ons Chosen: Extra coverages like zero depreciation or roadside assistance increase the premium. Choosing a policy from a trusted insurer like Tata AIG Bike Insurance allows you to customise coverage with valuable add-ons.

• Claim History: If you have filed claims previously, you may not be eligible for a No Claim Bonus (NCB) online saving leading to a higher premium.

• Location: Bikes registered in metro cities usually have higher premiums due to increased risk factors like theft or accidents.

Conclusion

Your Hero Bike is an investment, and protecting it with the right two wheeler insurance ensures peace of mind while riding. Whether buying insurance for the first time or renewing an existing policy, choosing the right coverage, understanding your needs, and opting for the right add-ons can make all the difference.

By renewing your Hero Bike insurance on time, you avoid legal troubles, maintain financial security, and enjoy benefits like NCB.

Standard T&C apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale. 

All savings are provided by the insurer as per the IRDAI approved insurance plan. 

Claims are subject to terms and conditions set forth under the motor insurance policy.

All savings are provided by the insurer as per the IRDAI approved insurance plan.