Are you planning to buy a new bike? But what is it that you are looking for—great design, fuel efficiency, amazing features, and new-age specifications? Check out the IMOTY (Indian Motorcycle of the Year) Bike of the Year 2022 award winner—TVS Raider 125. This affordable bike is designed to suit riding conditions in India. Once you finalise your purchase decision, buy TVS Raider 125 insurance to protect your bike from the uncertainties on the road. The insurance cover would help you to deal with your financial losses in case there is a mishap involving the bike. Read on to know more about the bike and how you should go about the insurance process.
The Indian Motorcycle of the Year award by IMOTY is one of the most prestigious awards for motorbikes in the country. Here, TVS scored high on several parameters such as performance, design, technology, fuel-saving etc. against its competitors—Bajaj Pulsar, Yamaha, Honda, and Royal Enfield. The jury consisted of eminent personalities from automobile journals and reviewers of vehicles. JK Tyres sponsors the IMOTY event each year. Grant Thorton is the partner for award validation for the Bike of the Year 2022.
Things to consider while choosing your bike insurance cover:
- Amount of coverage
Assess the extent of coverage that you require and your budget. The usage of your bike is a major factor. It depends on whether you take out your bike for daily use or only a few times a week and also on the distance travelled frequently. Since it is a new bike, you should get a comprehensive policy. It covers third-party damage as well as damages to your bike.
- Add-ons
If you feel that you need extra financial protection for your TVS bike, you can choose from various add-on covers in addition to the standard comprehensive policy. These add-ons include zero depreciation, roadside assistance, engine cover, cover for consumables, No Claim Bonus protector etc. Buy only what is needed as add-ons come at a cost and can exceed your insurance budget.
- IDV (Insured Declared Value)
IDV is the current market value of your bike minus depreciation. IDV decides the sum insured that the insurer must pay if your bike is stolen or damaged beyond repair. Take care to see that the insurer does not fix a low IDV or increase the depreciation amount as it will lead to a low claim amount in the future. Negotiate for the right IDV even if it means that you have to pay a high premium amount.
- Select a reputed or branded insurance company
While purchasing a policy, go for an insurer who is trustworthy and has a good reputation in the market. This would ensure that the settlement process is hassle-free when you file a claim. Also, check the claim settlement ratio of the insurer, the list of network garages, additional services provided by the insurer etc. Read the online reviews by policyholders about different insurers.
- Compare different plans
With insurers having their own websites and several quote comparison sites, you can easily check the policy features and prices online from the comfort of your home. Compare different plans, discounts, extra benefits offered by insurers, and quotes before you finalise on a particular cover.
- Online transaction facility
Nowadays, almost all the insurance companies have their own websites with details about their plans and facilities for buying and renewing the policies and claim settlements online. Select an insurer who would provide all these online transaction facilities.
- Inclusions of the policy
Before purchasing a bike insurance policy, you should go through its coverage or inclusions. This is important as a policy should provide maximum coverage during future uncertainties. Based on this trust, you would be paying the premium to your insurer.
Buy TVS Raider 125 insurance along with the bike to ensure complete protection from day one. Initially, you may have doubts regarding how to select the policy. Consider your requirement and budget and go for a policy that would be most suitable for you.