Liberty Two-Wheeler Insurance Policy

Some of the main features of Liberty General Insurance Two-Wheeler Insurance have been listed below:

1. Seamless Policy Issuance: The policy can be bought online without any hassle.

1. Weekend assistance: The policy offers customer care support even on weekends.

1. Easy Claim Procedures: The process of claim settlement and vehicle investment is simple, easy, and streamlined.

Coverage Offered Under Liberty General Insurance Two-Wheeler Insurance

1. Third-party liability that covers the death or injury of the person and the damage caused to his or her property, if any
2. Personal accident cover that provides cover in case of death or injury to the driver who is the owner of the vehicle and the policyholder.
3. Damage to the vehicle due to the accident
4. Natural or man-made reasons that result in the damage or loss of the two-wheeler due to the following causes:
   1. Riot or strikes
   2. Lightning, fire, explosion, self-ignition
   3. Flood, earthquake, typhoon, cyclone, storm, hurricane
   4. Injury, theft, house-break

Exclusions in Liberty Two-Wheeler Insurance

Damage or loss to the vehicle will not be covered by the insurer if it happens due to any one of the following reasons listed below:

1. Issues that relate to drunken driving
2. Claims that come up due to contractual liabilities
3. Consequential loss
4. Accidental loss or damage that takes place outside of the geographical area
5. Any electrical or mechanical breakdowns
6. Accidental loss or damage that rises due to a consequential loss
7. Any damage that is covered under the manufacturer’s warranty
8. Claims arising due to acts of war, invasion etc.
9. Claims relating to depreciation or wear and tear of the vehicle
10. Claims arising due to damage or loss incurred due to nuclear or radioactive material

Added Coverage by Paying Additional Premiums

Sometimes the coverage offered by the basic insurance plan might not suffice. Opting for some added coverage can help keep the vehicle protected in a much better manner. Some of the extra cover that will be available by paying added premiums have been listed below:

1. The named or unnamed passenger other than the rider will be offered a personal accident cover along with the owner or driver by the payment of extra premium.
2. Damage to non-electrical and electrical parts of the vehicles is covered by the payment of a small additional premium.

Liberty Two-Wheeler Insurance Add-On Covers

1. Depreciation Cover

The depreciation amount on any admissible claims under the Own Damage Section of the policy will be covered. The value of parts will be covered under this cover. This cover will not be provided if the vehicle is not repaired in one of the Company’s authorised Garage.

1. Consumables Cover

Coverage is provided for those items that have a specific use which are either deemed unfit for any further use or are totally consumed during the time of loss or damage to the vehicle. Example for such items include grease, air conditioners gas, engine oil, etc. Expenses will not be covered under this add-on in case of a constructive total loss. This will also not be applicable if the repair and labour bills are from a local garage for the insured items.

1. Gap Value Cover

In case of a total loss, constructive total loss, or total theft of the vehicle, the company will pay the current replacement value of the bike if the same model is available or the difference between the amount received under the Own Damage Section and the price as per the invoice of the purchase. This cover will be applicable only if the total loss or the total theft is permissible under the Own Damage Section of the policy. The first registered owner of the vehicle should be the insured according to the RTO records if you wish to avail of this cover.

1. Roadside Assistance Cover

Up to four claims can be made by the policyholder if the insured vehicle breaks down if requested by the policyholder. Listed below are the emergency services that can be claimed in the policy period through authorized vendors:

1. Minor repair
2. Towing of vehicle due to a major breakdown
3. Breakdown support provided over phone
4. Assistance provided in case of lost keys
5. Emergency fuel in case the vehicle runs out of fuel (fuel costs will have to be paid by the insured)

1. Engine Safe Cover

Any damage arising to the parts of the engine due to damage to the gearbox, water entering the engine, leakage of lubricating oil and other such issues. The policyholder will be provided compensation for the following:

1. Replacement or repair of internal parts of the gearbox, like shafts or gears in the gearbox housing.

1. Replacement or repair of internal parts of the engine such as crankshaft, pistons, cylinder head, and connecting rods.

1. Labour cost to repair the damaged gearbox and engine.

1. Damage or loss that is covered under the warranty provided by the manufacturer is excluded from this cover.

How to apply for the Liberty General Insurance Two-Wheeler Insurance Claim

Liberty General Insurance has tried to ensure that the claim process is hassle-free and very convenient for the policyholder. The claims can be made by following the simple steps mentioned below:

Step 1 -  The claim has to be immediately registered either by calling the customer care toll free number or on the company website.

Step 2 -  Representatives from the company will get in touch to gather all the other required details.

Step 3 -  A survey will be organised by the company within 24 hours if the accident/ theft is inside city limits and within 48 hours outside city limits.

Step 4 -  After the vehicle is moved to a garage, the required documents will have to be submitted to the garage for the surveyors to do the verification process.

Depreciation Rate as per the Age of Two Wheeler:

The depreciation rates as per the age of two wheeler are as follows: