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Why is it Important to Insure Your Mahindra Bike?

Given the conditions of most Indian roads, it is in your best interest to ride or drive with an active insurance policy. One mistake can cause significant damage to you and your Mahindra bike. Hence, it is best to cover your motorcycle with a comprehensive bike insurance plan in India. The policy protects your sturdy Mahindra bike financially in case of accidents, theft, or loss due to man-made or natural disasters. Moreover, it is mandatory to have a bike insurance plan to legally ride on Indian roads.

In this section, we have discussed Mahindra insurance in detail.

Types of Mahindra Bike Insurance Plans

Any Mahindra insurance is of two types:

  • Third-Party Mahindra Bike Insurance Plan

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 is not extended to you or your Mahindra bike. 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 Mahindra Bike Insurance Plan

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

Mahindra Bike Insurance Price for Popular Models

Mahindra Insurance Cost

Sr No.

Mahindra Bike Model

Engine cc

Third-Party Premium Cost

1

Mahindra Mojo UT300

294.72

 

2

Mahindra Gusto

109.6

 

3

Mahindra Centuro

106.7

 

4

Mahindra Mojo XT300

294.72

 

5

Mahindra Rodeo

124.6

 

Why Choose Finserv MARKETS for Mahindra Bike Insurance?

  • Trust Factor

Finserv MARKETS holds the trust of over 100 million+ clients. Such a vast clientele is a testimony to their excellent services and maximum customer satisfaction.

  • 24x7 Availability

No matter rain, hail, or storm, the customer care agents at Finserv MARKETS are always available to assist you in any of your insurance related queries. You can contact any time of the day to avail the benefit of our customer care service.

  • Partner Garages

Finserv MARKETS has partnered with over 4000+ garages across India to provide a cash-free servicing facility. Under this facility, even with non-partner garages, a bike insurance holder can enjoy 75% on account payment.

  • No-Third Party Involvement

No part of the insurance process gets outsourced to any third party. Right from the verification process to the assessment of the two-wheeler insurance claim, all processes are conducted in-house. This ensures fast processing and complete transparency in the insurance process.

  • Hassle-Free Renewal

You can renew your Mahindra Bike Insurance policy within minutes with Fiserv MARKETS. The online renewal process makes it much easier to renew your policy. Moreover, if you are opting for two wheeler insurance renewal online, you need not re-inspect your vehicle in case the policy has lapsed.

In case you are wondering how much will your two wheeler insurance premiums be, use the bike insurance calculator available on Finserv MARKETS and get a quote instantly. Moreover, the tool also allows you to compare the given price with quotes offered by other insurers in India.

Inclusions in Mahindra Bike Insurance

  • Any repair/damage caused to the bike due to fire outbreaks, lightning or strikes

  • Any repair/damage caused to the bike due to earthquake, landslide, typhoons, hailstorms, cyclone, floods or any other natural calamity

  • Any repair/damage caused to the bike due to burglary, theft or housebreaking

  • Any repair/damage caused to the bike due to communal riots or strikes

  • Any repair/damage caused to the bike due to malicious acts

  • Any repair and replacement cost for part of a vehicle damaged in accidents

  • Any repair/damage caused to the bike due to terrorist activity

  • Damage due to third party Liabilities.

  • Permanent disability/ death cover

  • Self and rider coverage

Exclusions in Mahindra Bike Insurance

  • Any repair/damage arising out of contractual liability

  • Any repair/damage arising out normal wear and tear

  • Any repair/damage arising out the electrical breakdown of the bike

  • Any repair/damage arising out the mechanical breakdown of the bike

  • Any repair/damage due to third-party liabilities

  • Any repair/damage caused when riding under the influence of drugs or alcohol

  • Any repair/damage when riding without a valid license

  • Any repair/damage when the two-wheeler insurance policy is not active

  • Any repair/damage arising due to non-accordance with the traffic rules, e.g., speeding

Add-On Covers for Your Mahindra Bike

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

  • Zero Depreciation Cover: zero depreciation bike insurance cover protects you from depreciation. Essentially, it means that you will be covered for the bike’s full insured value, i.e. without considering depreciation, 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 add-on covers you and/or the pillion rider for the treatment expenses of injuries sustained in an accident on your insured bike.

  • Return to Invoice: The Return to Invoice cover helps you get the complete value of your bike in case it incurs total loss due to unforeseen events. This amount is the same as that mentioned on your bike’s purchase invoice.

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

How to Apply for Mahindra Bike Insurance Online?

Just follow the steps given below to apply for Mahindra insurance online:

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

  2. Fill the application form with the relevant details.

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

  4. Complete the payment online.

  5. The policy will be issued in no time.

How to Renew Mahindra Bike Insurance?

To continue reaping the benefits of your Mahindra 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 Mahindra 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 Mahindra insurance renewal. Note: NCB is earned on a claim-free policy term.

Mahindra Bike Insurance Claim Process

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

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

  • Claim Cashless Bike Insurance for Mahindra Bikes

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

  • Claim Reimbursement for Mahindra Bikes

Here, you can get your Mahindra bike fixed at your preferred garage, bear 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 Mahindra Bike Insurance Online

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

Process for Filing Cashless Claims for Mahindra 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 Mahindra 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 Mahindra Bike Insurance Claim

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

  • Mahindra two-wheeler insurance policy document

  • Mahindra bike details

  • Insurer details

  • Details of the Incident

  • FIR copy, in case of theft/vandalism

  • Original bills and receipts of the vehicle repair

About Mahindra Bikes

Mahindra Group is a multinational company operating in over 100 countries. The Group has its base in Mumbai, Maharashtra and caters to different business interests such as automotive, aerospace, agriculture, information technology, construction equipment, finance and insurance, leisure and hospitality, defence, real estate, and two-wheeler manufacturing. In the year 2011, the Company rebranded its name to Mahindra Rise to highlight the Group’s efforts to unify its image across industries and geographies.

The automotive segment of Mahindra Rise is booming. The company is a leading manufacturer of Mahindra Two Wheelers, Mahindra Trucks and Bus, GenZe, Ssang Yong Motors, Peugeot Motorcycles, Mahindra Reva, Automobili Pininfarina, and several other automotive ventures.

Most popular Mahindra Two-Wheeler Models

  • Mahindra Gusto 125

  • Mahindra Mojo

  • Mahindra Centuro Disc Brake

  • Mahindra Centuro Rockstar

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. Besides, it is now mandated by law to have a third-party two-wheeler insurance under the Motor Vehicles Act.

Buying a comprehensive Insurance can ensure that you enjoy a smooth driving experience with your two-wheeler, without having to worry about the financial strain caused by potential threats to your bike such as natural calamities, accidents, or sabotage.

Why Choose Bike insurance for Mahindra Bikes?

  • Trust Factor

Finserv MARKETS holds the trust of over 100 million+ clients. Such a vast clientele is a testimony to their excellent services and maximum customer satisfaction.

  • 24x7 Availability

No matter rain, hail, or storm, the customer care agents at Finserv MARKETS are always available to assist you in any of your insurance related queries. You can contact any time of the day to avail the benefit of our customer care service.

  • Partner Garages

Finserv MARKETS has partnered with over 4000+ garages across India to provide a cash-free servicing facility. Under this facility, even with non-partner garages, a bike insurance holder can enjoy 75% on account payment.

  • No-Third Party Involvement

No part of the insurance process gets outsourced to any third party. Right from the verification process to the assessment of the two-wheeler insurance claim, all processes are conducted in-house. This ensures fast processing and complete transparency in the insurance process.

  • Hassle-Free Renewal

You can renew your Mahindra Bike Insurance policy within minutes with Fiserv MARKETS. The online renewal process makes it much easier to renew your policy. Moreover, if you are opting for two wheeler insurance renewal online, you need not re-inspect your vehicle in case the policy has lapsed.

In case you are wondering how much will your two wheeler insurance premiums be, use the bike insurance calculator available on Finserv MARKETS and get a quote instantly. Moreover, the tool also allows you to compare the given price with quotes offered by other insurers in India.

Inclusions in Mahindra Two-Wheeler Insurance Policy

  • Any repair/damage caused to the bike due to fire outbreaks, lightning or strikes

  • Any repair/damage caused to the bike due to earthquake, landslide, typhoons, hailstorms, cyclone, floods or any other natural calamity

  • Any repair/damage caused to the bike due to burglary, theft or housebreaking

  • Any repair/damage caused to the bike due to communal riots or strikes

  • Any repair/damage caused to the bike due to malicious acts

  • Any repair and replacement cost for part of a vehicle damaged in accidents

  • Any repair/damage caused to the bike due to terrorist activity

  • Damage due to third party Liabilities.

  • Permanent disability/ death cover

  • Self and rider coverage

Exclusions in Mahindra Two-Wheeler Insurance Policy

  • Any repair/damage arising out of contractual liability

  • Any repair/damage arising out normal wear and tear

  • Any repair/damage arising out the electrical breakdown of the bike

  • Any repair/damage arising out the mechanical breakdown of the bike

  • Any repair/damage due to third-party liabilities

  • Any repair/damage caused when riding under the influence of drugs or alcohol

  • Any repair/damage when riding without a valid license

  • Any repair/damage when the two-wheeler insurance policy is not active

  • Any repair/damage arising due to non-accordance with the traffic rules, e.g., speeding

How to apply for Mahindra Bike Insurance?

Applying for a Mahindra Bike Insurance is a simple straight forward process. The steps to buy bike insurance online are-

Step 1: Choose a suitable coverage for your Mahindra Bike Insurance at Finserv MARKETS

Step 2: Once you have selected the bike insurance plan, fill the online form to submit necessary information, such as vehicle model, registration number, the year it was bought, etc.

Step 3: Once you submit the details online, the insurance agent will assess your submitted details for verification purposes.

Step 4: Once your insurance application has been approved, complete the payment method.

Step 5: After the payment is received, your policy will be issued.

Claim Process

Filing a claim for your Mahindra Bike Insurance with Finserv MARKETS is extremely easy. All you have to do is follow these 4 steps-

Step 1: Register your two-wheeler insurance claim online at Finserv MARKETS

Step 2: Upload necessary documents online (insurance policy number, accident details, garage receipts, etc.)

Step 3: Get your claim assessed by the insurance agent

Step 4: Once the claim is assessed, the insurance agent will disburse the amount in your account.

To get more detailed information on the claim process, visit our website and click on the Claims page. At Finserv MARKETS, you get assured round the clock assistance and answers to all your claim related queries. Contact now!

Check Out Bike Insurance Plans Available at Finserv MARKETS

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.

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