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✓No Inspection Policy Issuance ✓24x7 Assistance ✓Quick Claim Processing | Buy a Acko or Bajaj Allianz Bike Insurance Plan Starting at ₹482/year*

About Mahindra Bike Insurance

Mahindra Group is a leading manufacturer of two-wheelers, trucks, buses, and cars. Talking about Mahindra’s two-wheelers, the company manufactures only one bike, Mahindra Mojo 300 BS6. This Mahindra bike is priced in the range of ₹1.99 lakh to ₹2.17 lakh. While Mahindra is known to make vehicles with multiple safety features, the risk of an unfortunate road accident is always present while riding a two-wheeler. To avoid burning a hole in your savings in the event of an accident, you must secure your bike with adequate Mahindra bike insurance.

Popular Mahindra Bikes

As mentioned earlier, Mahindra manufactures only one two-wheeler model. Let us take a look at this bike, along with its price and Mahindra two-wheeler insurance cost:

Mahindra Model

Fuel Type

Ex-Showroom Price*

Proposed Third-Party Premium Rates (Rs.) FY 2022-23

 

(effective 1* April, 2022)**

 

Mahindra Mojo 300 BS6

Petrol

₹1.99 Lakh - ₹2.17 Lakh

₹1366

*The Mahindra bike ex-showroom price is for Delhi and is subject to change based on the city.
**Third-party premium rate is indicative. The actual Mahindra bike insurance price that you may have to pay may vary depending on various factors. Please check the prevailing bike insurance premium rates before purchasing your policy.

How to Buy Mahindra Bike Insurance

Buying a Mahindra bike insurance is a simple straightforward process. The steps to buy bike insurance online are:

 

  1. Visit the ‘Bike Insurance Premium’ section on Bajaj MARKETS.

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

  3. Pick the insurance plan as per your needs.

  4. Pay the Mahindra bike insurance premium amount online.

  5. Your two-wheeler insurance policy will be sent to your registered e-mail address.

How to Renew Mahindra Bike Insurance Online

Here is what you need to do to renew your Mahindra two-wheeler insurance:

 

  1. Navigate to the ‘Bike insurance renewal’ section on your insurance provider’s website.

  2. Enter the details of your existing/expired bike insurance policy.

  3. Enter your contact details and your Mahindra bike details.

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

  5. Pay the bike insurance renewal premium online.

  6. Download the copy of your Mahindra bike insurance policy.

Why is it Important to Insure Your Mahindra Bike?

With an average of 1.62 lakh accidents reported every year in India, it becomes extremely necessary to insure your two-wheeler. The cost of repairing the damaged parts of your Mahindra bike in case of an accident can go up to ₹50,000, or even more! Paying for these expenses out of pocket in the absence of adequate bike insurance can be tough. Besides, it is now mandated by law to have third-party two-wheeler insurance under the Motor Vehicles Act.

Types of Mahindra Bike Insurance Plans

You can choose from the following two types of bike insurance plans for your Mahindra bike:

            1.Third-Party Bike Insurance

This policy will only cover third-party liabilities. A third-party bike insurance will not cover you or your Mahindra bike in case of any unfortunate event. Hence, such a policy comes at an affordable premium.

            2.Comprehensive Bike Insurance

A comprehensive bike insurance policy will cover third-party liabilities as well as damages to your own two-wheeler in case of any unfortunate event. You can also extend the scope of your comprehensive Mahindra bike insurance coverage by choosing different add-on covers.

What is Included in Your Mahindra Bike Insurance?

A third-party insurance will only cover the death, injuries or damages caused to a third party by your insured two-wheeler. A comprehensive insurance will cover third-party liabilities as well as damages to your own bike due to accidents, natural calamities, theft, etc.

What is Excluded From Your Mahindra Bike Insurance?

Some of the exclusions from Mahindra two-wheeler insurance are loss or damages caused due to natural wear and tear, riding while under the influence of intoxicants, riding without a valid driving licence, etc.

Add-On Covers to Enhance Your Mahindra Bike Insurance

  • Round-the-clock Spot Assistance

This bike roadside assistance cover ensures that you get on-the-spot assistance at any time in the event of a sudden breakdown of your bike during a ride.

  • Personal Accident Cover

This add-on provides coverage for the treatment costs for you (the driver) and your pillion rider in case of an accident on your insured Mahindra bike.

  • Return to Invoice

With this add-on cover, you get the complete value of your Mahindra bike as per its purchase invoice, in case of total loss.

  • Zero Depreciation Cover

A zero-depreciation add-on cover in your Mahindra bike insurance will provide coverage against the depreciation in the value of your Mahindra two-wheeler, thus reducing your out-of-pocket expenses during a claim.

  • Engine Protection Cover

This add-on cover provides coverage for damaged engine parts that may need repairs. This add-on is especially useful if you live in a flood-prone area.

Filing a Claim for Your Mahindra Bike Insurance

You must know a few things before filing a claim for your Mahindra bike insurance. Let’s first look at the two types of Mahindra two-wheeler insurance claims:

        1.Cashless Claim for Mahindra Bike Insurance

With this facility, you can get your damaged Mahindra bike repaired at any network garage without having to pay for the expenses yourself. Your insurer will directly pay the garage for all repair expenses.

        2.Reimbursement Claim for Mahindra Bike Insurance

Here, you can get your damaged Mahindra bike repaired at any garage of your choice at your own expense. You can then file a reimbursement claim for the expenses incurred against your bike insurance policy. Upon claim approval, your insurer will transfer the settlement amount to your bank amount.

Here is a list of the important documents you will need to file a claim for your Mahindra bike insurance:

 

  • Copy of your Mahindra two-wheeler insurance policy document

  • Details of your Mahindra bike

  • Insurer details

  • Details of the incident

  • Copy of the FIR copy (in case of theft or vandalism)

  • Original bills of bike repair

Read More: Bike Insurance Claim Settlement Process

Reduce the Mahindra Bike Insurance Cost with These Easy Tips

  • Get your Mahindra Bike Serviced Regularly

One of the main factors determining your bike insurance premium is the condition of your bike. Hence, maintain your Mahindra bike in good condition and get it serviced regularly as per the manufacturer-recommended service schedule.

  • Compare Mahindra Two-Wheeler Insurance Premiums

Do not forget to compare the Mahindra bike insurance premiums offered by various insurance providers and then make an informed decision.

  • Choose Only Necessary Add-On Covers

Buying too many add-on covers can increase the cost of your bike insurance premium significantly. Hence, only choose the add-on covers that may be necessary for your bike.

  • Avoid Filing Claims for Small Amounts

You can secure your No Claim Bonus (NCB) rewards by paying for inexpensive repairs out-of-pocket instead of filing insurance claims for such amounts. These NCB rewards will help you get a reduced premium during bike insurance renewal.


Summing Up

Now that you know about Mahindra bike insurance, what it includes, and the add-on covers you can choose from, wait no more! Buy a Mahindra bike insurance now and secure yourself financially. Use the bike insurance calculator available on Bajaj MARKETS to get a quote for your Mahindra two-wheeler insurance policy.

 Check Out Bike Insurance Plans Available at Bajaj Markets

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FAQs on Mahindra Bike Insurance

✔️Is it compulsory to buy bike insurance for my Mahindra bike?

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

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

No. Mahindra motorcycle insurance plans on Finserv MARKETS provide minimum coverage of one year.

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

You will be issued a challan if you fail to present an active third-party Mahindra 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 Mahindra motorcycle without a valid bike insurance policy is ₹2,000 and/or imprisonment for up to three months for the first offence. For subsequent offences, the penalty is ₹4,000 and/or imprisonment for up to three months.

✔️How does IDV affect my Mahindra bike insurance premium?

 Your bike insurance premium is directly proportional to the market value or Insured Declared Value (IDV) of the bike. Hence, your Mahindra bike’s IDV is the primary influencer of your bike insurance premium.