Bharti AXA Two Wheeler Insurance

Bharti AXA Two Wheeler Insurance – Complete List Of Plans, Features & Reviews

Bharti AXA 2 wheeler insurance has been recently merged with ICICI Lombard General Insurance. The combined expertise of both the industry giants is here to offer better benefits to their customers.

Bharti AXA has been insuring millions of two wheelers since its launch in 2008. They have offices all over the country, offering quality service and comprehensive motor insurance products.

A Two Wheeler Insurance is your safety net against any losses or damages sustained by you or a third party as a result of an accident, natural disaster, or theft involving your bike or motorcycle.

Bharti AXA bike insurance protects you from incurring financial losses as a result of third-party injuries or damages caused by your two-wheeler. Two wheeler insurance from a trustworthy provider like Bharti AXA helps you in reducing any financial distress and preserving an asset that is valuable to you.

Why Should You Choose Bharti AXA (Now ICICI Lombard) 2 Wheeler Insurance?

• Convenient online process
• Instant policy generation online
• No need for vehicle inspection, if renewed before policy expiration
• A number of add-on covers for extra protection
• Quickest claim settlement in the market
• One of the widest network of Cashless Garages 
• 24/7 Claim Assistance

Also Read: Things To Know Before Getting Your First Two Wheeler Insurance

Types Of Two Wheeler Insurance Covers Offered By Bharti AXA

All two-wheeler insurance policies issued in India are governed by the Motor Vehicles Act of 1988. The Insurance Regulatory Development Authority of India, or IRDAI, is the governing body that oversees all general insurance companies operating within the country's borders.

According to a Supreme Court of India ruling that took effect on September 1, 2018, all general insurance companies are required to provide a minimum of five years of third party (TP) insurance for all new two-wheelers purchased after that date. Motorcycles and bikes functioning on Indian roads without TP insurance would face significant fines and penalties.

Comprehensive Two Wheeler Insurance

Comprehensive coverage protects you against all liabilities associated with your two-wheeler. It not only protects your two-wheeler but also the owner. Comprehensive insurance coverage covers all third-party obligations as well as personal damage, injuries, and theft. Natural disasters, burglary, theft, riots, or terrorist action, as well as damage inflicted while traveling, are examples of incidents that fall under the category of own damage. To increase the insurance coverage, the policyholder can add more riders such as Roadside Assistance Cover or Nil Depreciation.

Compulsory Personal Accident Cover 

The Supreme Court ruling also mandated that all 2 wheeler policies should have a compulsory Personal Accident cover of Rs.15 lacs, the premium for which is added to your policy. Policyholders can opt out of this cover by attesting that they already have a separate Personal Accident cover of Rs.15 lacs and more under a different policy.

Third-Party Liability Coverage

• Third-party insurance is the bare minimum of coverage that every two-wheeler owner is required by law to have.
• As the name suggests, this basic bike insurance policy only benefits third parties who are injured, suffer damages, or even become disabled or die as a result of an accident, natural disaster, or theft involving the insured's two wheeler.
• Third-party insurance also protects the insured against all legal and financial liabilities incurred as a result of the insured vehicle's damage to the property of a third-party.

Standalone Own Damage Cover

The Standalone Own Damage cover covers financial losses or damages to your two-wheeler caused by a collision or accident. The Standalone Own Damage cover is quite useful in cases where your two-wheeler has been damaged as a result of a natural disaster like as floods, etc. The Standalone Own Damage Coverage will also assist you in obtaining reimbursement if your two-wheeler is stolen. Own Damage Cover was previously included with Third Party Liability coverage, but this is no longer the case as of September 1st, 2019.

This type of insurance does not cover you against:

• Depreciation
• Electrical and mechanical breakdown
• Any losses incurred when the motorist is under the influence of alcohol or drugs, is under the age of 21, or does not have a valid driver's license.

As with comprehensive insurance, you can get add-ons with standalone own damage insurance to tailor the coverage to your specific needs. All of the add-ons that are available with comprehensive protection are also available with own damage cover.

Are You Looking To Purchase A New Two Wheeler? Here Are The Best Two Wheeler Loans For You!

Comprehensive Cover Vs Third Party Liability

Though Third Party liability cover has been made mandatory by law, two wheeler owners benefit more when they go for comprehensive cover.

Are There Any Exclusions On My Bharti AXA Two Wheeler Insurance?

Two wheeler insurance, like any other insurance policy, comes with its own set of exclusions and exceptions –

• General wear and tear of your two wheeler is not covered
• Electrical or mechanical breakdowns are not covered
• Damage to the two-wheeler caused by inebriated driving
• Damage or loss due to the driver operating the two-wheeler without a valid driver's license
• Any loss or damage to the two-wheeler due to an accident outside of the country's borders

The above circumstances are not covered under a Bharti AXA two wheeler insurance. For more detailed information on what is covered and what is exempted, policy holders should read the policy document thoroughly.

Additional Read: 5 Reasons To Go For Long Term Two Wheeler Insurance Policy

What Are The Add-Ons That I Can Add To My Bharti AXA Two Wheeler Insurance?

Add-ons are not mandatory part of the two wheeler insurance cover but offer enhanced protection to you and your vehicle. They come for a very nominal cost and offer some great benefits.

1. Depreciation Cover

A Depreciation Cover or ‘Nil Dep’, as it is popularly called, does not depreciate your vehicle value through the policy renewal years. This add-on deducts no value from your vehicle value at the time of claim. This add-on cover is generally available only for the first 5 years of vehicle life.

2. Roadside Assistance

This is a much needed cover for people who travel extensively on their two wheeler for work or business, a marketing executive for example. This cover offers 24/7 roadside assistance to offer immediate help in case of accident or vehicle breakdown.

3. Engine & Gear Box Protection Cover

This cover covers the cost of repair or replacement of the engine. This is a very good cover that comes for very low rates.

4. Invoice Price Cover

With this add-on cover, the policyholder can get the vehicle's original on-road cost in the event of total damage.

5. Consumables Cover

This add-on covers nuts, bolts, ball bearings, engine oil, lubricant, and other related non-parts.

What Are The Factors Affecting My Bharti AXA Two Wheeler Insurance Premium?

A two wheeler insurance is a policy that covers a risk, for yourself, your vehicle and a third party. The cost of two wheeler insurance is very competitive in the Indian market with 10s of players vying to gain the upper hand in this large segment.

India currently has a very large two wheeler market – 2021 alone saw a sale figure of 15.12 million units. So the two wheeler insurance market is pretty large and you can get the best price if you shop around for a bit. The key factors affecting your two wheeler insurance premium are:

1. The cost of your vehicle – Starting from 100cc utility vehicles to 500cc racer bikes, two wheeler insurance is customized to all. Based on the engine capacity, the insurance premium also differs.

2. Age of the vehicle – Since two wheeler insurance indemnify you against the value of the vehicle mentioned on the insurance policy, your premium is also based on this value. A new vehicle obviously has a higher premium compared to a vehicle that is a few years old as the vehicle value depreciates year on year.

3. The kind of cover you have chosen – A TP cover alone doesn’t cost much but a comprehensive cover will cost you more as the coverage is also more. Read more on different types of two wheeler covers available.

4. The number of add-ons you have chosen – Each add-on has a different rate, and based on whichever add-on you choose the premium rate will also differ.

How To Buy Bharti AXA Two Wheeler Insurance?

Bharti AXA makes it convenient for users to purchase or renew their two wheeler insurance policies online.

1. Just visit ICICI Lombard webpage and choose two wheeler insurance. 

2. You will need to enter a few basic details like your vehicle number and contact details

3. A quote is generated with different cover options and the rate for each option

4. You can select or unselect the cover and add-ons you want

5. Once you get the final premium amount, you can proceed with the payment

6. The policy is generated instantly and sent to you via email

It is as simple as that! 

Why Should You Buy Bharti AXA Two Wheeler Insurance Online?

Even long before the Covid hubbub, consumers had shifted to online purchase of insurance policies. With popular insurance comparison sites, like Creditmantri, offering detailed comparison of pros and cons of different two wheeler insurance policies, vehicle owners had the right information to make a decision and proceed with the policy purchase. The insurance agent commission process was also leading to a lot of fraud and insurance companies slowly shifted to digital mode to save on spurious claims and fake policies. Online purchase of two wheeler insurance policy is good for these reasons:

• Requires very minimal paperwork– When purchasing two bike insurance online, there is very little paperwork required. The procedure is simple, and payment can be made using a secure online channel. Rather than spending a significant amount of time visiting insurance firms to purchase a coverage, obtaining it online is more convenient and just takes a few minutes.
• Lets you Compare Quotes and Policies Before purchasing - You can visit the website of your insurance provider to review all of the bike insurance plans that are currently available. You can also use third-party aggregator platforms to compare policies and bids from multiple insurance providers online. Knowing the benefits and drawbacks of the plans allows you to choose the one that best suits your budget, needs, and expectations.
• Find the best price - As there is a lot of competition online, you will get the best price for your two wheeler insurance if you buy it online. Furthermore, the online approach eliminates the need for agent commissions or processing fees, the benefits of which are immediately passed on to the end user.
• Renewals made simple - If you purchase your two-wheeler coverage online, you can also renew it online. The payment can be made through internet means. Furthermore, if you need to make changes to your policy paperwork, you can do so by simply emailing your insurance provider. After the modifications are made, the revised policy document is emailed to your registered email address.

To Summarize

Bharti AXA Two Wheeler insurance is an all-in-one plan that offers maximum benefits to its customers. With 24/7 immediate roadside assistance and an extensive network of cashless garages, Bharti AXA two wheeler insurance users can stay assured that they and their two wheelers are completely safe.

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