TATA AIG Bike Insurance: Plans, Claim Settlement Ratio, Add-ons & Renewal

About TATA AIG Bike Insurance

Tata AIG has been one of the leading insurance providers in the country for some time now. The company came into existence on the 22nd of January 2001. It is a joint venture between the Tata Group and the AIG or American International Group. Tata group is one of the largest conglomerates in the country, while AIG runs the business successfully in more than 100 countries.
The insurer has managed to win several awards on the way, due to its product and services. Tata AIG offers comprehensive bike insurance plans at reasonable rates as well. The company has more than 460 customer service teams to ensure a great service experience. The brand has a workforce of 2833 employees across 152 branches in the country.

The number of accidents on Indian roads is something that would bother even the best of the riders. Being a careful rider is a great start and ensures that there are no mistakes from your end. However, it is only a part of the equation.A person might get involved in an accident due to the inattentiveness of someone else altogether.
If you own a bike or are planning to buy one, getting Tata AIG Bike insurance is one of the smartest ways to deal with the situation.Tata AIG two-wheeler insurance grants you protection against some of the most common issues or problems that riders face. It will not take you long to find the apt policy with Tata AIG and without burning a hole in your pockets as well.

TATA AIG Claim Settlement Ratio

96%

TATA AIG

94.67%

Industry Average

Bike claim settlement ratio is the percentage of claims settled against the total claims received by the insurance company in a given fiscal year. TATA AIG has a claim settlement ratio of 96%, as compared to the industry average of 94.67%.

TATA AIG Bike Insurance Plans Overview

TATA AIG bike insurance offers 2 types of bike insurance plans: Comprehensive and Third Party. The premium of these plans start from Rs. 714/yr. The coverage under TATA AIG two wheeler bike insurance would depend on the type of policy you choose, check the details below:

Comprehensive

Starting Premium- ₹ 714/yr

As one might guess from the name, it offers comprehensive coverage for your bike. A comprehensive package policy includes third party liability cover and offers additional coverage. It offers three distinctive coverage in the form of

Accidental damage to your two-wheeler in the event of theft, natural disasters, riots, explosions, fire, etc.
It offers cover against damage to properties or individuals and any other legal liability due to an accident involving your bike
The plan also offers personal accident cover for the owner or rider of the bike. It covers the death of the policyholder and permanent disability

Third Party

Starting Premium- ₹ 714/yr

The Motor Vehicle Act of India mandates all vehicles to have a third-party liability policy. If the bike of a policyholder meets with an accident and it results in damage to a property, death of an individual or bodily injury, the third-party liability covers such instances. The limited coverage of a third-party liability policy is one of the reasons why the policy premiums are low.

The Motor Vehicle Act saw some amendments recently and according to the changes, any new bike must be sold along with a mandatory five-year third-party liability policy.

TATA AIG Premium Calculator

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Add-ons Available Under TATA AIG Two Wheeler Insurance Plans

Add-ons are additional coverage benefits which can be chosen voluntarily by paying an additional premium. Add-ons help increase the scope of coverage of the bike insurance policy. TATA AIG two wheeler insurance plans offer the following types of add-ons with the comprehensive policy:

During claims, insurance companies do not pay for the full amount for repairs or replacement of certain parts of the bike. Depreciable parts like tyres, rubber, metal, plastic, etc. And a policyholder ends up paying the amount from their pockets but not with a Nil Depreciation add-on. Should a policyholder opt for this add-on, the insurance company must consider the actual costs of the repairs or replacement and not deduct depreciation from it. The only thing to remember is that you can claim this add-on only twice during a policy term.

At the time of repair or servicing, there are a lot of consumables that come into the picture. Consumable such as screws, nuts, bolts, lubricants, washers, brake oil, etc. are commonly used but not covered under a standard bike insurance policy. The consumables add-on covers the expenses of the consumables, provided the repair takes place in one of the network garages recommended by Tata AIG.

As discussed earlier, the price of a bike goes down with time due to depreciation. If a policyholder were to lose their bike or it is deemed beyond repair, there is a lot of money that a policyholder can lose. However, with the return to invoice cover, it can be avoided. The add-on ensures that for total loss or beyond repair conditions, the insurer pays the invoice amount, which includes road taxes and registration amount also. The only two conditions being, you must be the first owner of the bike and the finance provider for the bike (usually banks) must agree to the same in writing.

This add-on offers financial assistance for medical expenses for the insured. This includes hospitalization charges along with expenses related to an ambulance for the insured and the pillion rider. While the add-on will cover expenses related to the accident, it won’t cover any conditions before the accident.

With this add-on, you can buy additional coverage for the pillion rider or anyone else who rides the bike apart from you. This add-on would make sense if you frequently ride with a pillion or someone else rides your bike apart from you.

Features Of TATA AIG Two Wheeler Insurance Plans

When you opt for the Tata AIG bike insurance policy, you get access to the following features and benefits.

You can renew your bike insurance policy instantly, without having to furnish additional documents
The insurer is known to have quick turnaround time for claims settlements
With Tata AIG you can opt for long term bike insurance policies, ranging from 1 year to 5 years
You have access to a 24/7 customer service desk to resolve any queries or issues
The policy offers a personal accident cover of INR 15 lakhs
Tata AIG Bike insurance policy takes care of any liabilities arising out of third party individuals or properties involved in an accident
The insurer has a very intuitive model of handling service requests, making it that much easier
Tata AIG offers discounts in the form of no claim bonus, anti-theft device installation, AAI membership, etc.
The insurer offers emergency roadside assistance for various services such as flat tyre, towing, jump start, etc.
You also have the option to buy add-ons to make the most out of your bike insurance policy
Tata AIG offers several payment options from which you can choose

Tata AIG bike insurance offers the following coverage.

Any kind of damage due to lightning, fire, explosion, etc.
Any damages or loss of bike due to burglary, theft, etc.
Any damages due to riots, strikes, vandalism, terrorism, malicious activities, etc.
Any damages caused by an external accident
Any damages or loss due to natural calamities such as floods, cyclones, earthquakes, etc.
Any damages or loss while the bike is in transit through the air, water, rail or by road
Any liabilities for third party individuals or properties due to an accident caused by your bike
Personal accident cover of up to INR 15 lakhs for the insured

Exclusions Under TATA AIG Two Wheeler Insurance Plans

Your Tata AIG bike insurance will not cover the following scenarios

Tata AIG does not offer bike insurance for vehicles that are imported
The policy does not cover any depreciation costs
Any damage or loss due to ageing or natural wear and tear of the vehicle and its parts
The plan does not cover the intentional accidental loss
Damage or loss due to mechanical or electrical breakdown of the bike
Any sort of consequential damages
If the insured is found to be driving under the influence of intoxicants or alcohol
If the person riding the bike is found to be doing so without a valid driving license
Damage to the tube or tyres of the bike, unless the bike is damaged along with it
Damages or loss that takes place outside of Indian geographical limits

How To Raise A Claim Under TATA AIG Two Wheeler Bike Insurance

The claim process for your Tata AIG bike insurance is as follows.

Primarily, you need to inform Tata AIG about the incident by calling at their toll-free number
The insurer will then appoint an independent surveyor to assess the damages to the bike
Tata AIG would then confirm the liability and its acceptance of the claim
You must now visit any network garage listed by Tata AIG to avail of cashless benefit
Should you visit any other garages, you must pay for the repairs and claim the amount afterward.

While the above are some generic steps for claims, the process might change for certain types of claims such as accident or theft.

Accidents

Contact Tata AIG and inform them about the incident
Submit the claims form
File an FIR at the nearest police station
Provide a copy of the policy document, driving license, RC of the bike, etc.
An estimate of repairs from a garage
NOC and Form 35 from the financier of the bike in the case of a total loss

Theft

Contact Tata AIG and inform them about the incident
Submit the claims form
File an FIR at the nearest police station
Submit the keys with Tata AIG
Submit the No Trace Report after acquiring it from the police department
Submit Forms 26,28,29,30 and Form 35

Claims can be a bit of a lengthy or tricky at times.To help you in such situations, Turtlemint offers an exclusive feature of helping you with claim settlements.You can raise a claim from the website of Turtlemint and their claim settlement team will get in touch with you.For claims,you can reach out to Turtlemint at 1800 266 0101 or email them at claims@turtlemint.com.

Documents Required For Claims

While the above are some generic steps for claims, the process might change for certain types of claims such as accident or theft.

Accidents
- Contact Tata AIG and inform them about the incident
- Submit the claims form
- File an FIR at the nearest police station
- Provide a copy of the policy document, driving license, RC of the bike, etc
- An estimate of repairs from a garage
- NOC and Form 35 from the financier of the bike in the case of a total loss
Theft
- Contact Tata AIG and inform them about the incident
- Submit the claims form 3. File an FIR at the nearest police station
- Submit the keys with Tata AIG
- Submit the No Trace Report after acquiring it from the police department
- Submit Forms 26,28,29,30 and Form 35

Claims can be a bit of a lengthy or tricky at times. To help you in such situations, Turtlemint offers an exclusive feature of helping you with claim settlements. You can raise a claim from the website of Turtlemint and their claim settlement team will get in touch with you. For claims, you can reach out to Turtlemint at 1800 266 0101 or email them at claims@turtlemint.com.

TATA AIG Customer Care

Customer Care Number

1800 2667 780

Email ID

customersupport@tataaig.com

TATA AIG Two Wheeler Bike Insurance Renewal Process

Tata AIG two-wheeler insurance renewal is a much easier step than buying a new policy. You just need to visit the website of Tata AIG and look for the renewal option.The website will then ask for your phone number and policy number, post which you can get the quotes and proceed to buy the policy.
You can visit Turtlemint for renewing your bike insurance policy also. The easy and intuitive design of the website ensures that you find it relatively easy to renew your policy. There is one additional benefit of renewing your policy from Turtlemint. The website lets you compare policies before zeroing down on one.This lets you pick up a policy that is both lights on your pockets and at the same time, offers all that you are looking for.
The simple steps for Tata AIG two-wheeler insurance renewal involve you filing up bike details and personal details. Next, you must choose an insurer, check the premiums that they are offering and if you are happy with the policy, you can pay for the policy. And receive the policy documents in your inbox within a few minutes.

How To Buy TATA AIG Bike Insurance

Tata AIG offers a lot of flexibility for potential policy buyers. You can buy Tata AIG two-wheeler insurance either online or offline. Offline mode is the traditional mode where one would have to interact with an insurance advisor or visit a branch office to buy a policy. When you opt for online mode, you can sit back, relax and buy the policy from the comfort of your home.

Buying your Tata AIG bike insurance online is a much richer experience. You can visit the website of Tata AIG and look to buy a new policy. Alternatively, you can visit Turtlemint for buying your bike insurance policy. Turtlemint lists all the bike insurance policies and makes it easier for you to choose a plan that best meets your needs. Thereby increasing the chances of you buying the best policy out there.

You can buy Tata AIG two-wheeler insurance on Turtlemint’s website. The most significant difference being, you will be able to compare between different insurers. Should you decide to buy from Turtlemint’s website, here are all the steps involved.

You must visit https://www.turtlemint.com/two-wheeler-insurance
Up next, you must provide the registration number of your bike
You can then scan through various plans available based on your bike’s year of purchase and place of registration
To proceed with the purchase, you must provide the following details:
1. Manufacturer of bike
2. Model of bike
3. Year of manufacture
4. Fuel type
5. Variant
6. Previous policy details
7. Claims made during the previous policy
8. Previous policy provider
Turtlemint will then list out all the policies that fit your requirements along with their premiums
You can then pick a policy and proceed to buy it on the same page.

Documents required to buy/renew a Tata AIG Bike Insurance policy :

To buy Tata AIG two-wheeler insurance you would need the following documents:

An identity proof (PAN, Aadhar, Passport, etc.)
An Address proof (Driving License, Passport, Government identity card, etc.)
A photograph of the applicant
Personal details of the policyholder
Registration number and RC of the bike

To renew your bike insurance, you would only need to provide your previous policy details and cross verify the existing details before paying the premiums.