Cycle Insurance Cover

Whether you cycle through busy city roads or choose to go on an adventure, there are always potential risks involved. Secure your cycle against theft, loss or damage and secure yourself against unfortunate accidents that might occur while riding, by purchasing a Cycle Cover.

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  High coverage limit

  Get coverage up to Rs. 25,000 for your cycle and Rs. 2,00,000 for the insured in case of accidental death occurred while riding, for just Rs. 899 per annum. You can also opt for coverage up to Rs. 50,000 for cycle and Rs. 3,00,000 for the insured in case of accidental death occurred while riding, for just Rs. 1499 per annum.

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  Worldwide coverage

  You get worldwide coverage for your cycle, and the duration of cover for accidental death will be limited while riding the cycle only.

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  Multiple payment methods

  Pay your premiums easily via multiple payment options, such as online account transfers, UPI, mobile wallets, credit or debit cards.

• What’s Covered

  Here’s what’s covered in this plan.

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  Burglary and thef

  Get covered against financial losses occurred due to burglary or theft of your cycle.

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  Fire, riots or any fortuitous causes

  You can get coverage for damage caused to the cycle due to fire, riots, strikes or any such unforeseen situations.

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  Worldwide cover

  You can be assured of worldwide coverage for your cycle.

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  Agreed or invoice value of cycle

  Get reimbursements against the agreed or invoice value of your cycle (whichever is lower).

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  Accidental damage

  You can get protection against accidental damage caused to your cycle with the, Cycle Cover by Bajaj Finserv.

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  Accidental death

  Financial coverage against untimely death of the insured is provided. This is valid only when the accident is occurs while using the registered cycle.

• What’s Not Covered?

  Here’s what’s not covered in this plan.

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  Gradual operating costs

  Any losses or damage caused by processes of cleaning, dyeing or bleaching, restoring, servicing, preventative maintenance, repairing or renovating or deterioration arising from wear and tear, moth, vermin, insects or mildew or any other gradually operating cause.

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  Fragile or brittle items

  Any breakage, cracking or scratching of crockery, glass, cameras, binoculars, lenses, sculptures, curious, pictures, musical instruments, sports gear and similar articles of brittle or fragile nature, unless specifically declared and accepted by us and explicitly stated in the policy schedule.

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  Mechanical or electrical breakdown

  Loss or damage caused by mechanical or electrical derangement/breakdown of any article unless caused by accidental external means or specifically declared and accepted by us and explicitly stated in the policy schedule.

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  Consequential loss or legal liability of any kind

  Here are the consequential losses or legal liabilities that we don’t cover:
  • Loss, damage, or contributions to loss or damage by the insured, which resulted in sufferings or consequences, whereby the risks hereby insured against, were unnecessarily increased.
  • Loss or damage due to misplacement, misuse, reckless, abusive, wilful or intentional conduct associated with handling and use of the covered item
  • Loss or damage arising out of any pre-existing conditions

• For the full list of exclusions, please download the policy brochure here.

• Terms and conditions

  • The tenor of the policy is 1 year
  • The cycle should not be older than 1 year from the date of purchase.

• Terms and conditions in case of accidental death

  Scope of coverage

  The coverage would be offered only to the customers who have registered their cycle and the duration of cover will be limited while riding the cycle only.

  Exposure

  For the purposes of the accidental death benefit, a loss resulting from You being unavoidably exposed to the elements due to an Accident occurring under the circumstances described in a Hazard will be payable as if resulting from an Injury. Loss must occur within 365 days of the date of the accident.

  Disappearance

  We will pay the benefit loss of life under the circumstances described in a hazard if your body cannot be located within 365 days after the forced landing, stranding, sinking or wrecking of a conveyance in which you were a passenger or as a result of any Acts of God, in which case it shall be deemed, subject to all other terms and provisions of the policy, that You shall have suffered loss of life within the meaning of the policy.

  Exclusions

  1) Loss caused directly or indirectly, wholly or partly by:
  
  a] Infections (except pyogenic infections which shall occur through an Accidental cut or wound) or any other kind of disease;
  b] Medical or surgical treatment except as may be necessary solely as a result of Injury;
  
  2) Any Injury which shall result in hernia
  
  3) Any pre-existing condition, any complication arising from it
  
  4) Suicide, attempted suicide (whether sane or insane) or intentionally self-inflicted Injury or illness, or sexually transmitted conditions, mental or nervous disorder, anxiety, stress or depression, Acquired Immune Deficiency Syndrome (AIDS), Human Immune-deficiency Virus (HIV) infection

Here’s how you can apply for this cover.

You can apply for the Cycle Insurance Cover online in three easy steps.