There is a tremendous potential for two-wheelers in the Indian Market. The sale of two-wheelers has witnessed significant growth in recent years. In rural India, mopeds are used extensively in areas for carrying heavy loads such as newspapers, gunny sacks, vegetables, etc. Mopeds contribute to approximately 4% of the Indian two-wheeler market. TVS Motor Company is the only manufacturer of mopeds in India. According to TVS, moped sales increased to 9 lakh units from 8.8 lakh units in the preceding financial year. It is estimated that an average of 70,000 moped units are sold every month in the domestic market.
As a result of this high demand for mopeds in the Indian market, TVS Motor Company recently issued a statement confirming that its moped range of XL100 will continue to sell by meeting the BS-VI emission norms. This statement has put an end to speculations that the TVS XL will be axed post the enforcement of the BS-VI emission regulation.
Over the years, moped has undergone various modifications such as getting a four-stroke engine and an electric-start option. The cost of TVS XL is around Rs. 30,000 (ex-showroom) for the base variant that comes with a kick start and it goes up to approximately Rs 38,000. The moped is powered by an air-cooled, 99.7cc engine and delivers a power output of 4.3bhp with a torque of 6.5Nm.
The enforcement of BS-VI emission regulations from April 2020 is expected to impact the automobile sector to a certain extent. BS-VI has brought an end to several vehicle brands such as Tata Nano, Honda Brio, Honda Cliq, etc.
If you are planning to buy a TVS moped, make sure that you also purchase a TVS insurance. A comprehensive two-wheeler insurance policy covers a variety of expenses that you may have to bear in case of an unfortunate accident. In addition to covering the third-party liabilities, a comprehensive insurance policy will also safeguard you from the financial liabilities that may arise in case of theft, loss or accidental damage of your two-wheeler. Moreover, if you do not wish to shell out money from your pocket while filing a claim, you can consider opting for a zero depreciation bike insurance policy.
Zero depreciation bike insurance policy doesn’t take into account the depreciation of your two-wheeler while settling the bike insurance claim. Therefore, if your bike gets damaged in an accident, no depreciation is subtracted from the coverage due to the wearing out of body parts of your two-wheeler, excluding tyres and batteries. The insurer will take care of the entire cost of the replacement of the worn-out parts.
Before purchasing a bike insurance policy, you must compare various insurance policies online. This will help you to choose a policy that best suits your needs. It is also advisable to research the insurer by checking its reviews and customer feedbacks while availing an insurance policy. This will help you make a well-informed decision. Lastly, make a note of all the exclusions of the insurance policy before making the final purchase.
Bajaj Allianz bike insurance available on Finserv MARKETS provides wider coverage at a competitive premium rate. Easy application and minimal documentation are some of the added advantages of availing an insurance.