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Why is it Important to Insure Your KTM Bike?

KTM bikes have seen a rise in demand in the motorcycle industry over the years. But despite the popularity, the high servicing charges and maintenance expenses for KTM bikes can be tough on the pockets. Now, imagine having to suffer loss/damage due to an accident. One mistake can cost you a fortune in KTM repair.

Hence, it is best to cover your KTM bike with a comprehensive bike insurance plan. The policy protects your dream motorcycle financially in case of accidents, theft, or loss due to man-made or natural disasters. Moreover, it is mandatory to have a third-party bike insurance plan to legally ride on Indian roads.

Let us understand KTM insurance more in detail.

Types of KTM Bike Insurance Plans

Any KTM insurance is of two types:

  • Third-Party KTM Bike Insurance Plan

Third-party bike insurance, as mentioned above, is mandatory by law under the Motor Vehicles Act, 1988. However, the policy is known to cover third-party liabilities only, which means that the coverage protection is not extended to you or your KTM bike in any unfortunate event. Hence, the premium charges are easy on the pocket. If you are looking to buy an extensive cover for your motorcycle, it is recommended to buy a comprehensive bike insurance policy.

  • Comprehensive KTM Bike Insurance Plan

A comprehensive bike insurance plan for KTM bikes will cover third-party liabilities and damage to your own motorcycle. A comprehensive KTM bike insurance plan has a relatively higher premium as compared to third-party bike insurance. You can also extend the scope of your comprehensive bike insurance policy with add-on benefits. Having comprehensive KTM insurance ensures that your two-wheeler is protected against any unfortunate event at all times.

KTM Bike Insurance Price for Popular Models

KTM Insurance Cost

Sr No.

KTM Bike Model

Engine cc

Third-Party Premium Cost

1

KTM RC 200

199.5

 

2

KTM 200 Duke

199.5

 

3

KTM 125 Duke

124.7

 

4

KTM RC 390

373.3

 

5

KTM RC 125

124.7

 

Why Choose Finserv MARKETS for KTM Bike Insurance?

Some of the key features of the Two Wheeler Insurance Plans at Finserv Market include:

  1. Ease of application/Renewal: At Finserv MARKETS, applying for two wheeler insurance is extremely simple. You can initiate the process online through a few easy steps. The renewal process for your two-wheeler insurance is equally hassle-free. You also need not subject your vehicle to inspection, even if your insurance has relapsed.

  2. No Third-Party Involvement: At Finserv MARKETS, no part of your insurance process is outsourced to any third party. Right from the initial steps of verifying your application, to the final step of assessing your claim, you can enjoy personalised attention from the insurer.

  3. Round the clock assistance: At Finserv MARKETS, you can enjoy 24x7 assistance on your two-wheeler insurance. Just call on our toll-free number and get instant assistance come rain, hail or storm!

  4. Avail cash-free servicing on your two-wheeler: Finserv MARKETS has associations with over 4000+ garages all over India. You can avail cash free servicing on your KTM bikes in any of these partner garages.

While you are at it, you can check the bike insurance premiums for the plans available on Finserv MARKETS. Just use the bike insurance calculator to get a quote on your chosen insurance policy. That way, you will be able to select two wheeler insurance coverage that fulfils your needs and is quite affordable as well.

Inclusions in KTM Bike Insurance

The KTM Bike Insurance covers:

  • Accidental injuries sustained by the rider as well as pillion.

  • Repair/Replacement of any component of your KTM bike

  • Loss or damage caused to your KTM bike due to any natural calamity (earthquake, floods, cyclone, hailstorm, typhoons, striking of lightning, etc.)

  • Loss or damage due to man-made disaster (communal riots, strikes, theft, vandalism, etc.)

  • Loss/damage to third-party

Exclusions in KTM Bike Insurance

The KTM Bike Insurance excludes coverage for:

  • Any loss or damage to your KTM bike against normal wear and tear

  • Mechanical or electrical breakdown of your KTM bike

  • Any loss or damage to your two-wheeler when driving without a valid license

  • Any loss or damage to your two-wheeler, when its insurance policy is not active

  • Any loss or damage caused to the two-wheeler when the rider is under the influence of alcohol or drugs

  • Third-party related damage caused when

    1. the two-wheeler insurance policy is not active

    2. the bike rider is under any influence of an intoxicant

    3. damaged caused when riding without a valid license

    4. damages caused due to malicious intent such as to sabotage, theft, etc.

    5. damage due to natural calamities

    6. damage due to electrical/mechanical breakdown of the bike

Add-On Covers for Your KTM Bike

KTM bike insurance available on Finserv MARKETS come with bespoke add-on covers that enhance the financial protection of your motorcycle. These include:

  • Zero Depreciation Cover: With a zero depreciation bike insurance cover, you are covered against the depreciation value of your bike, thereby minimising your out-of-pocket expenses during a claim.

  • Round-the-clock Spot Assistance: With the round-the-clock spot assistance cover, you are never left stranded in case of a sudden breakdown during your ride.

  • Personal Accident Cover: This offers coverage to you and/or the pillion rider for the treatment cost of injuries due to an accident on your insured bike.

  • Return To Invoice: The Return To Invoice cover helps you get the complete value of your bike which is about the same as the one mentioned on your bike’s purchase invoice.

However, note that you can only enhance the scope of your comprehensive KTM insurance plan. You cannot opt for add-on covers on third-party bike insurance.

How to Apply for KTM Bike Insurance Online?

Just follow the steps given below to apply for KTM insurance online

  1. Visit the ‘Bike Insurance’ section on our website.

  2. Fill the application with the relevant details.

  3. Choose the KTM two-wheeler insurance plan of your choice.

  4. Complete the payment online.

  5. The policy will be issued in no time.

How to Renew KTM Bike Insurance?

To continue reaping the benefits of your KTM insurance, renew the policy with us on Finserv MARKETS. Just follow the steps given below:

  • Visit the ‘Bike Insurance’ section on our website.

  • Enter your registration number and contact details.

  • Check your KTM two-wheeler insurance renewal premium.

  • Make the payment online.

  • Download the policy copy.

Do not forget to avail the No-Claim Bonus (NCB) discount at the time of KTM insurance renewal. Note: NCB is earned on a claim-free policy term.

KTM Bike Insurance Claim Process

KTM two-wheeler insurance ensures all-around protection in case of unfortunate accidents or motorcycle theft. While getting KTM bike insurance is the first step to security, the next crucial step is understanding how claims are registered.

There are two types of KTM two-wheeler insurance claims:

  • Claim Cashless Bike Insurance for KTM Bikes

With cashless claims, you can get your bike with accidental damages repaired at the nearest network garage. The insurer will directly pay the garage for incurred expenses.

  • Claim Reimbursement for KTM Bikes

Here, you can get your KTM bike fixed at your preferred garage, pay the expenses, and raise a reimbursement claim against your policy. Upon claim approval, the settlement amount is transferred to your bank amount (minus the deductible, if applicable).

Steps to Claim KTM Bike Insurance Online

The claim settlement process for KTM two-wheeler insurance at Finserv MARKETS is easy. Just follow the steps below:

Process for Filing Cashless Claims for KTM Bikes

  1. Register the claim & inform the insurer. You may do so by calling their toll-free number or by visiting their website.

  2. Get your bike repaired at the nearest network garage.

  3. Submit all the required documents.

  4. Once the documents are verified, your insurer will settle the claim directly with the network garage.

Process for Filing Reimbursement Claims for KTM Bikes

  1. Inform the insurer about the damage.

  2. File an FIR in case of vehicle damage due to third-party or theft.

  3. Submit a copy of the FIR along with other documents.

  4. Get your bike repaired at any nearest garage at your expense.

  5. Submit the original bills and payment receipts to the insurer.

  6. You will be reimbursed after the documents are verified and the claim is approved.

Documents Required for KTM Bike Insurance Claim

Take a look at the important documents that you need for claiming your KTM insurance:

  • KTM two-wheeler insurance policy document

  • KTM bike details

  • Insurer details

  • Details of the Incident

  • FIR copy, in case of theft/vandalism

  • Original bills and receipts of the vehicle repair

About KTM Bikes

KTM AG is an Austrian manufacturer of motorcycles and sports cars, known primarily for its off-road motorcycles. In the year 2007, the popular Indian Two-Wheeler manufacturer, Bajaj Auto, bought some stakes of KTM Power Sports AG. By the year 2013, Bajaj Auto accounted for nearly 48% of KTM’s share. This partnership between Bajaj Auto and KTM has resulted in phenomenal sales of the KTM bikes in India, especially the ‘Duke’ models.

KTM Duke is hugely popular with adventure junkies, looking for a quick dose of adrenaline through fast-paced bike racing. However, these off-road motorcycles are not limited to race circuits. The international quality and styling of KTM Dukes has made it a popular choice amongst the Indian youth, especially the college going students. Thus, even though these bikes are priced on the higher sides, you will find many KTM Dukes on the urban streets of India.

Most Popular KTM Bikes in India

  • KTM RC 200

  • KTM 200 Duke

  • KTM 125 Duke

  • KTM RC 390

  • KTM RC 125

Check Out Bike Insurance Plans Available at Finserv MARKETS

FAQs on KTM Bike Insurance

  • ✔️Is it compulsory to buy bike insurance for my KTM bike?

    Yes. A third-party bike insurance policy is mandatory by law under the Motor Vehicles Act, 1988, to legally drive on Indian roads.

  • ✔️Can I get KTM bike insurance for less than a year?

    No. KTM bike insurance plans on Finserv MARKETS provide minimum coverage of one year.

  • ✔️What will happen if I do not have bike insurance for my new KTM bike?

    You will be issued a challan if you fail to present an active third-party KTM bike insurance plan to the traffic police. Multiple violations can lead to license cancellation and/or imprisonment.

  • ✔️What is the fine for driving without a valid bike insurance policy?

    The penalty for driving your KTM motorcycle without a valid bike insurance policy is ₹2,000 and/or imprisonment up to three months for the first offence. For subsequent offences, the penalty is ₹4,000 and/or imprisonment of up to three months.

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