Quickinsure Reveals: Save More on Premiums with HDFC ERGO Own-Damage Add-ons & No-Claim Bonus
When it comes to safeguarding your bike, HDFC ERGO Standalone Own-Damage Bike Insurance is one of the most trusted choices in India. Unlike third-party insurance, which is mandatory by law but limited in coverage, the own-damage policy protects your vehicle from risks like accidents, theft, fire, and natural calamities.
However, many riders often wonder: “How can I reduce my premium without compromising on coverage?” The answer lies in smart planning with add-on covers and the No-Claim Bonus (NCB) . At Quickinsure, we help bike owners explore these money-saving options while still enjoying robust protection.
This article dives deep into how HDFC ERGO Own-Damage Add-ons and No-Claim Bonus benefits work together to maximize savings on your two-wheeler insurance premiums.
Why HDFC ERGO Standalone Own-Damage Policy Matters
Before we explore savings, let’s understand the policy’s role:
Coverage beyond mandatory third-party insurance – It protects your bike against damage.
Wide protection scope – Fire, theft, natural calamities (flood, earthquake, cyclone), and man-made incidents (vandalism, riots).
Financial cushion – Helps avoid high out-of-pocket expenses in case of accidents.
Customizable with add-ons – Flexibility to enhance your coverage.
👉 In short, this policy ensures that you don’t just follow the law but also protect your financial stability.
What are the Add-On Covers in HDFC ERGO Own-Damage Bike Insurance?
Add-ons are optional covers you can purchase at a small additional cost. They enhance the scope of your insurance by protecting against specific risks not covered under the standard own-damage plan.
Popular Add-Ons You Should Consider
- Zero Depreciation Cover (Nil Depreciation)
- Ensures full claim settlement without factoring in depreciation of bike parts.
- Best for new bikes or high-end models.
- Return-to-Invoice (RTI) Cover
- If your bike is stolen or total loss occurs, you get the original invoice value, not just the depreciated value.
- Helpful for expensive or recently purchased bikes.
- Engine Protect Cover
- Covers engine damage caused by water ingression or oil leakage (not usually covered in standard insurance).
- Essential for areas prone to floods.
- Consumables Cover
- Covers the cost of nuts, bolts, engine oil, and other small items not usually covered.
- Prevents minor repair costs from digging into your pocket.
- Roadside Assistance Cover
- 24x7 help for flat tires, towing, battery jump-start, and emergency fuel supply.
- Perfect for long-distance riders and daily commuters.
- No-Claim Bonus Protection
- Allows you to retain your NCB discount even after making a small claim.
- Best for those who want to keep long-term premium savings intact.
- Key Protect Cover
- Covers expenses related to lost or damaged bike keys.
How Add-Ons Help You Save on Premiums
While add-ons do increase your premium slightly, they save you big money during claims. For example:
- A Zero Depreciation add-on could cost a few hundred rupees, but it saves thousands during repairs since no depreciation is deducted.
- Engine Protect prevents costly engine replacement bills that could run into tens of thousands.
- NCB Protection secures long-term savings by ensuring your No-Claim Bonus continues.
👉 Think of add-ons as small investments for big savings.
What Is No-Claim Bonus (NCB) in HDFC ERGO Bike Insurance?
No-Claim Bonus is a reward you get from the insurer for not making any claims during your policy term. It reduces your premium at renewal time.
How NCB Works
- After 1 claim-free year → 20% discount on premium.
- After 2 claim-free years → 25% discount.
- After 3 claim-free years → 35% discount.
- After 4 claim-free years → 45% discount.
- After 5 claim-free years → 50% discount (maximum limit).
👉 Example: If your annual own-damage premium is ₹4,000, after 5 claim-free years, it could drop to just ₹2,000 with NCB.
Smart Ways to Save More on Premiums with Quickinsure
Here’s how you can combine HDFC ERGO add-ons and NCB benefits to reduce costs:
1. Use NCB Protection Add-On
- Keep your NCB intact even if you make a small claim.
- This ensures long-term discounts are not lost.
2. Opt for Multi-Year Policy
- HDFC ERGO offers multi-year bike insurance.
- Lock in lower premiums and avoid annual hikes.
3. Choose Add-Ons Wisely
- Pick only those add-ons that suit your riding style.
- Example: If you live in a flood-prone city → Get Engine Protect.
- If you use a new premium bike → Go for Zero Depreciation + RTI.
4. Install Safety Devices
- Anti-theft devices approved by ARAI can lower your premium.
5. Avoid Small Claims
- Pay for minor damages out-of-pocket.
- Helps you keep your NCB intact for bigger savings later.
6. Use Quickinsure Online Renewal
- Quickinsure compares plans instantly and applies all available discounts.
- Hassle-free renewals at the best possible rates.
Quickinsure Advantages for HDFC ERGO Bike Insurance
When you buy or renew your HDFC ERGO Standalone Own-Damage Policy via Quickinsure, you get:
- Instant comparison of multiple insurers.
- Transparent premium breakdown with NCB discounts highlighted.
- Add-on customization – Choose what you need, skip what you don’t.
- Fast digital policy issuance – No paperwork, policy delivered instantly.
- Expert claims support – Guidance during claim settlement to ensure maximum benefit.
Example Case Study: How Add-Ons + NCB Save Money
Let’s take an example of Rahul, a bike owner in Mumbai.
- Base own-damage premium: ₹5,000
- Selected Add-ons: Zero Depreciation (₹800), Engine Protect (₹500), NCB Protection (₹400) → Total Add-ons = ₹1,700
- Total premium with add-ons: ₹6,700
Now, Rahul avoids claims for 3 years. His NCB = 35% → Discount of ₹2,345 on premium.
So, his renewal premium reduces significantly, and during floods, his Engine Protect add-on saved him ₹18,000 in repair costs.
👉 Net result: Huge savings in both premiums and claim expenses.
FAQs on HDFC ERGO Own-Damage Add-Ons & NCB
Q1: Can I buy add-ons later after purchasing the policy?
- Most add-ons can only be added during policy purchase or renewal.
Q2: What happens to NCB if I switch insurer?
- NCB is transferable across insurers, including when you move via Quickinsure.
Q3: Is NCB applicable on third-party policy?
- No, it is only applicable on own-damage or comprehensive policies.
Q4: Can I retain NCB if I sell my bike?
- Yes, NCB belongs to the policyholder, not the vehicle. You can transfer it to your new bike policy.
Q5: Which add-ons are most popular for HDFC ERGO bike insurance?
- Zero Depreciation, NCB Protection, and Roadside Assistance are the top choices.
Final Thoughts
HDFC ERGO Standalone Own-Damage Bike Insurance offers robust protection, but the real savings come when you strategically use add-ons and NCB benefits.
With Quickinsure, you not only get guidance on choosing the right mix but also ensure that your premiums stay low while coverage remains high.
