KTM Two Wheeler Insurance in India - Cost & Specifications

The off-road powerful and sporty designed motorbikes made by KTM AG make it different from other motorcycle manufacturers. You must purchase a KTM tw0-wheeler insurance in India. Insurance coverage for this well-designed bike, as it is a mandatory requirement. Visit the official website, fill in the registration number of your bike, phone number, and other required details. 

The ex-showroom price of KTM models RC 200, 200 Duke, 125 Duke & RC 390 ranges between ₹1,71,000-₹2,78,000. All these vehicles run on petrol and if you choose any of them the potential 3rd party premium that you will have to pay will be ₹1,366.

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KTM Insurance

KTM AG is an Austrian manufacturer of motorcycles and sports bikes, known primarily for its off-road motorcycles. In India, KTM bike prices are available in the range of ₹1.71 lakh- ₹3.35 lakh. These bikes are known for their sporty design and powerful performance. However, with powerful performance also comes the risk of unfortunate road accidents. Such an incident can be a cause of financial stress for you. Thus, it is essential to insure your bike with adequate KTM bike insurance coverage. Let us understand KTM bike insurance more in detail.

Popular KTM Models with Bike Insurance Price

Here is a list of some of the most popular KTM variants and their KTM insurance cost:

KTM Model

Ex. Showroom Price*

Fuel Type

Estimated Third-party Premium~

FY 2022-23

(w.e.f. 1st June 2022) 

KTM RC 200

₹2.09 Lakh*

Petrol

₹1,366

KTM 200 Duke

₹1.86 Lakh*

Petrol

₹1,366

KTM 125 Duke

₹1.71 Lakh*

Petrol

₹1,366

KTM RC 390

₹2.78 Lakh*

Petrol

₹1,366

KTM RC 125

₹1.82 Lakh*

Petrol

₹1,366

KTM 390 Adventure

₹3.35 Lakh*

Petrol

₹1,366

The ex-showroom KTM bike prices are for New Delhi and are subject to change for different cities.
Third-party KTM bike insurance premium rates are indicative. Your actual KTM insurance policy premium may change based on various factors. Please check the prevailing bike insurance premiums before purchasing your policy.

How to Buy KTM Bike Insurance Online

Just follow the steps given below to buy KTM insurance online at Bajaj MARKETS:

 

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

  2. Enter your KTM bike’s registration number and your mobile number.

  3. Fill the application with the relevant details.

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

  5. Complete the premium payment online.

  6. The policy will be issued in no time.

How to Renew KTM Bike Insurance Online

You can continue reaping the benefits of your KTM insurance by following the steps given below to renew your bike insurance online:

 

  1. Visit your insurer’s official website and move to their ‘Bike Insurance’ section.

  2. Enter the details of your previous policy.

  3. Enter your personal details and your KTM bike details.

  4. Check your KTM two-wheeler insurance renewal premium.

  5. Make the premium payment online.

  6. Download a copy of your renewed KTM bike insurance policy.

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.

Read More About: Bike Insurance Renewal

Why Does Your KTM Bike Require Insurance?

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. The spare parts for KTM bikes can be as expensive as ₹11,000, or even more! 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 bike insurance plan. The comprehensive bike insurance 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. 

Which KTM Bike Insurance Plan Should You Go For?

You can choose from two types of KTM insurance plans:

1. Third-Party Bike Insurance

Third-party bike insurance 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, it comes with affordable premium charges. If you are looking to buy an extensive cover for your motorcycle, it is recommended to buy a comprehensive bike insurance policy.

2. Comprehensive Bike Insurance

A comprehensive bike insurance plan for KTM bikes will cover third-party liabilities and damage to your own motorcycle. 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. However, you must note that a comprehensive KTM bike insurance plan has a relatively higher premium as compared to third-party bike insurance. 

Read More: Benefits of Comprehensive Bike Insurance

What Does Your KTM Bike Insurance Cover?

Third-party bike insurance covers any damages or bodily injuries/death of a third party that is caused by your insured KTM bike. On the other hand, comprehensive bike insurance policies include damages caused to your insured vehicle, third-party liabilities, repair and replacement expenses, etc.

What is Not Covered in Your KTM Bike Insurance?

Some of the expenses that are excluded from your KTM bike insurance are electrical or mechanical breakdowns, regular wear and tear of your KTM bike, damages caused due to overspeeding or driving under the influence of intoxicants, etc.

Read More About: Inclusions & Exclusions of Bike Insurance Cover

Upgrade Your KTM Bike Insurance with Add-On Covers

KTM bike insurance comes 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 File a Claim for Your KTM Bike Insurance

KTM two-wheeler insurance ensures all-around protection in case of unfortunate accidents or motorcycle theft. Now that you know the importance of insuring your KTM bike, 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).

Now, let’s 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

Read More About: Bike Insurance Claim Process

Tips to Reduce the KTM Bike Insurance Cost

Here are some tips you can use to reduce the insurance cost for your KTM bike insurance:

  • Compare Insurance Premiums

Ensure that you compare the premium quotes for the bike insurance policies offered by various insurance companies to get the best plan that suits your needs!

  • Choose the Necessary Add-Ons Only

Too many add-ons can increase the cost of your insurance premiums. So, only pick the add-ons that you really need to save costs.

  • Don’t Claim Small Sums

Avoid filing claims for inexpensive repairs as making multiple insurance claims in a year can increase the price of your premiums.

  • Maintain Your KTM Bike

The bike insurance premium amount also depends on the condition of your two-wheeler. Hence, make sure you maintain your bike in good condition and get it serviced regularly.

Conclusion

In the event of an unfortunate accident or theft, a bike insurance policy for your KTM bike acts as your financial cushion. So, if you are looking to get bike insurance for your KTM bike, check out the two-wheeler insurance plans available at Bajaj MARKETS now! You can also use the bike insurance calculator to check the KTM bike insurance price for policies available on Bajaj MARKETS. The tool helps you determine the premiums and compare the KTM bike insurance price of plans offered by other insurers as well.

Check Out Bike Insurance Plans Available at Bajaj MARKETS

FAQs on KTM 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 Bajaj MARKETS provide a 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 licence 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.

  • ✔️What is IDV in KTM bike insurance?

    IDV stands for Insured Declared Value. It is the market value of your KTM bike, after calculating depreciation on it.

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