Tata AIG Own Damage Bike Insurance
The TATA AIG Standalone Own-Damage Two-Wheeler Insurance Policy helps if your bike gets damaged in an accident. While it doesn't cover third-party liabilities, it does provide financial protection for your bike against damages from natural disasters, man-made events, and fires. It also offers coverage if your bike is stolen.
Comparison Between Standalone Own Damage Insurance, Third Part Insurance, Comprehensive Bike Insurance
| Features | Standalone Own Damage Insurance | Third Party Insurance | Comprehensive Insurance |
|---|---|---|---|
| Coverage type | Covers damages to your own bike | Covers third-party liabilities (injury, death, and property damage) | Covers both damages to your own bike and third-party liabilities |
| Third-party liability coverage | Not included | Included | Included |
| Own damage cover | Included | Not Included | Included |
| Coverage for theft | Included | Not Included | Included |
| Natural & Man-made disaster coverage | Included | Not included | Included |
| Fire damage coverage | Included | Not included | Included |
| Personal accident coverage | Not included | Usually Included | Usually Included |
| Premium cost | Moderate | Lower | Higher due to broader coverage |
| Optional add-ons | Available | Not Available | Available |
| Best for | Those who already have third-party insurance and want to protect their bike | Meeting legal requirements with basic coverage | Complete protection for both own bike and third-party liabilities |
What's Covered and Not Covered Under TATA AIG Own Damage Bike Insurance
1Covered
- Fires or explosions that damage your motorcycle.
- Damage from road accidents.
- Damage from natural or human-made disasters.
- Theft of your motorcycle if it can't be found, or if it's damaged beyond repair.
2Not Covered
- Normal wear and tear.
- Breakdowns due to mechanical or electrical failures.
- Damage occurring outside India.
- Accidents from illegal riding or misuse.
How to Purchase Tata AIG Standalone Own-Damage Two-Wheeler Insurance Policy
1Step 1
Visit the Square Insurance official website.
2Step 2
Select "Bike Insurance" from the "Insurance Products" menu.
3Step 3
For a new bike, click "Got a New Two-Wheeler."
4Step 4
If your bike is not new, enter your bike's registration number and click "View Plans."
5Step 5
Fill in the required details like RTO, make, model, variant, registration year, and more.
6Step 6
Review and choose an insurance plan offered by Tata AIG.
7Step 7
Complete the payment for the selected plan, and you'll receive the insurance document in your email soon.
FAQs
If your bike is damaged in a road accident, fire, theft, or natural disaster, the Tata AIG will help you by providing you financial support. It covers the costs to fix or replace parts of your bike damaged due to these incidents.
Yes, it does not cover everything. It will not pay for damages due to mechanical or electrical failures, wear and tear, or any damage that might occur should you ride illegally or misuse the bike. It doesn't even pay for accidents that occur outside India.
Yes, you can add some more coverage to your policy, which includes zero depreciation, roadside assistance, and coverage for personal accidents. This will help in customising your insurance according to your requirements.
You need to submit some basic documents such as your bike registration certificate, your driving licence, and details of any previous insurance. In case of a claim, you may also be required to submit a claim form, FIR copy for theft or major damages, and repair bills.
No Claim Bonus is the discount you get on your premium for every year if you don't make any claim. It starts from 20 percent and can go as high as 50 percent if you don't claim for five consecutive years. No claims bonus will make your insurance more affordable to reward you for driving safely.
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