Hero Two-wheeler Insurance

Two-wheelers have always been an economical and convenient way of travel. However, despite the convenience, some unanticipated risks are associated with this vehicle, such as theft or accident. Therefore, if you own a high-end model of Hero MotoCorp, it is essential to purchase a Hero two wheeler insurance policy to keep the two-wheeler and driver secure against damages caused by natural and man-made calamities.

Moreover, purchasing a third-party two-wheeler insurance plan is mandatory for every Indian biker to ply on the road legally. Such policies cover expenses for the damages caused to the third-party property or individual by the insured vehicle. One can also opt for a comprehensive two-wheeler insurance plan that covers both third-party and own bike damages.

Keep reading to learn about the Hero bike insurance policy and its specifications in detail.

About Hero MotoCorp

The Hero MotoCorp has always been a supreme name in terms of manufacturing technologically upgraded motorcycles and scooters for their customers worldwide. Headquartered in New Delhi, Hero MotoCorp holds the position of the world’s largest two-wheeler market, with more than 50% in the Indian motorcycle market. The inventory of Hero MotoCorp includes 11 two-wheeler models, such as Hero Passion Pro, Hero XPulse 200, Hero Splendor Plus, Hero Xtreme 160 R and more.

This motor company has established its presence in almost 37 countries across Africa, South and Central America, and Asia, with more than 90 million happy customers through its exclusive range of products. Although the models of Hero MotoCorp are innovative in design, it is still crucial to secure them with an adequate Hero insurance policy.

• Hero Insurance

  Hero MotoCorp insurance policies are specifically designed to cater to the needs of the well-built Hero vehicles. Bajaj Finance along with their leading insurance partners, offer affordable two-wheeler insurance policies based on the individual’s choice, budget and preference.
  
  These policies cover expenses for the damages caused by an accident or untoward incident. Nonetheless, one must also ensure to renew his/her policy on time before it expires to continue to benefit from the facilities offered under the policy and keep their vehicle secure.

A Hero two-wheeler insurance policy is an effective solution for bike owners to meet the expense of liabilities and damages caused due to road accidents. Depending on your requirements, Hero bike insurance plans are classified into the following categories:

1. Comprehensive two-wheeler policy

Comprehensive bike insurance comes with dual coverage. Simply put, it covers third-party liability, which means expense coverage for causing damage to third-party property or individuals by the insured vehicle. Another significant benefit of this policy is that it covers policyholders against financial losses or damages caused to their vehicles due to man-made or natural calamities. Besides, one can also choose add-ons, such as NCB, zero dep cover, etc., to enhance the base plan coverage.

2. Third-party insurance policy

As per Motor Vehicles Act 1988, purchasing a third-party insurance plan is mandatory for bike owners that protects them from third-party losses or damages. In short, such plans cover expenses for the damages caused to the third-party property or vehicle by the insured bike.

3. Own damage or a standalone policy

Such insurance policies cover the expenses against the loss or damage to their two-wheelers due to natural or man-made calamities. Since purchasing a third-party insurance policy is mandatory to ply legally on the road, it only covers the expense for the losses or damages caused to the third-party property or individual. However, having its own damage cover will also allow policyholders to claim for the damages caused to the two-wheeler.

Now when individuals are aware of the Hero bike insurance, here is a quick overview of some of the major benefits of insuring their two-wheelers:

• Purchasing a Hero motor insurance policy ensures extensive coverage for your scooter, motorcycle and other accessories.

• Coverage for third-party life, property damage and the vehicle is offered under the Hero two-wheeler insurance policy.

• A certain amount of sum assured is offered to the owner-driver for personal accident cover.

• Moreover, the Hero MotoCorp renewal and purchase process are prompt and straightforward.

• Usually, two-wheeler insurance is available for a period of 3 years.

If you own a Hero MotoCorp and plan to purchase a Hero two-wheeler insurance policy, you must learn about the inclusions extended by leading insurance companies.

For instance, if you own a Hero Splendor motorbike, you must know about the Hero Splendor insurance price 2022 and its list of inclusions. Here is the detailed list of what is covered under this policy:

• Any damage or loss caused to the insured vehicle due to natural calamities, such as lightning, earthquake, landslide, etc., is covered under the Hero bike insurance policy.

• This policy provides coverage against man-made disasters, such as riots, strikes, terrorist activities, etc.

• It also provides financial coverage to the owner in case the bike is stolen, damaged or lost.

• Moreover, it also offers coverage for the legal loss due to the injuries to third parties that led to the demise or disability.

• Besides, it also offers personal accident cover of up to a certain amount for the co-passengers.

Here are some of the exclusions of a hero motor insurance plan:

• Any damages caused due to normal tear or wear of the vehicle

• Consequential loss or depreciation of the vehicle

• Losses incurred while the insured bike was used, exceeding the scope of coverage

• Damages or loss occurred to the owner driver while driving under the influence of alcohol

• Loss or damage occurred when the insured bike was driven without an authentic driving license

Below listed are some of the necessary add-on covers that individuals can choose over their existing Hero two-wheeler insurance policies-

1. No-claim bonus

This no-claim bonus is applicable if the policyholder does not make any claim during the policy tenor. The no-claim bonus allows policyholders to retain their NCBs and avail of discounts during Hero insurance renewal process even if they make a claim during the policy term.

2. Emergency assistance cover

Such insurance cover allows policyholders to avail emergency roadside assistance. Moreover, many insurers also offer a wide range of services such as tyre changes, lost key assistance, minor repairs on-site, etc.

3. Zero-depreciation cover

Usually, the insurer deducts the depreciation value of the vehicle before a claim settlement. However, with a zero-depreciation cover added over the existing insurance plan, no deduction on depreciation will happen during the time of claim settlement, and the entire amount will be paid to the policyholder.

4. Return to invoice

During the time of loss or damage, the concerned insurer will pay the Insured Declared Value. This factor covers the gap between the IDV and the invoice/on-road price of the vehicle involving taxes and registration, allowing the policyholders to avail of the purchase value as the claim amount.

5. Helmet cover

This add-on cover on the Hero two-wheeler insurance allows the policyholders to receive compensation from the insurer for getting the helmet repaired or replaced in case of partial or total damage in an accident.

The cashless process to claim Hero two-wheeler insurance is quite simple and straightforward. To raise a claim, one needs to follow the steps mentioned below:

Step 1: To initiate the claim settlement, one needs to contact the concerned insurance company and file for the claim by submitting essential details like accident time, location, place, witness information, etc. One can contact the insurer either by calling or writing an email to them

Step 2: After claim registration, the insurer will send a surveyor to the accident place to inspect the loss or damage that occurred to the bike. After successful inspection, one can take the bike for repair in the network garage

Step 3: The surveyor sends a detailed report to the insurance company for evaluation and approval. One can get his/her bike repaired from the network garage for free, and the concerned insurance provider will bear the expense Step 4: All the payments for repairs will be borne by the insurer after subtracting the deductible and depreciation value

In case of the reimbursement, if the insured bike is taken to any other garage other than the network garage for the repair, then the repair cost will be borne by the policyholder. Later, the policyholder can make a Hero insurance claim for reimbursement with the insurance provider.

Here are the detailed steps for raising a Hero two-wheeler insurance claim for reimbursement:

Step 1: To begin the reimbursement process, one needs to contact the concerned insurance company and file a claim by submitting essential details, such as place, accident time, location, etc. Contact them either by call or email.

Step 2: After filing the claim, a surveyor is sent by the insurance company to inspect the condition of the bike. The policyholder is required to submit the necessary documents to the surveyor. Then the surveyor prepares a report and sends it to the insurer for claim approval.

Step 3: One can take his/her Hero bike to the preferred garage for repair and make the payment. Later one needs to initiate the reimbursement process with the insurance company by submitting the bills and receipt along with other important documents.

Step 4: After verifying all the information and estimates, the insurance company reimburses the amount after considering the deductible and depreciation value.

To continue enjoying the benefits of the bike insurance plan, it is essential for bike owners to go through the Hero MotoCorp insurance renewal process. It is advised to renew the insurance plan before it expires.

Following are the steps for online Hero insurance policy renewal:

Step 1: Visit the official website of the preferred insurance provider

Step 2: Input the registration number of the bike and select the type of fuel and variant to proceed further

Step 3: Submit the expiry date of the last insurance policy and the name of the last insurance company. Also, you need to share the details if you have raised any claim during the last policy year and tap on ‘continue’ to proceed further

Step 4: Input personal details like name, contact details, etc., and click on the ‘submit and get quotes’ option

Step 5: All the available two-wheeler insurance quotes will be displayed on the screen. Among them, select the best plan based on your budget and requirements

Step 6: Click on the ‘buy now’ option and re-confirm all the necessary details before making the payment to renew the Hero insurance policy online.