TVS Insurance - Price and Specifications

Among the biggest two-wheeler producers, TVS Motor is renowned for generating quality motorbikes. Even though TVS bikes are popular for their robust build, unfortunate accidents can happen to anyone. Therefore, having proper TVS bike insurance is imperative. You just need to log in to the official website, enter the bike’s registration number and your phone number. 

The ex-showroom price of TVS Apache RTR 165RP. & Apache RR310 Is ₹1,45,000 & ₹2,59,000, the estimated 3rd party premium that you may pay will be ₹1,301. Other models like TVS Raider, Star City Plus, Radeon, Sport, Jupiter, Ntorq, and Zest have an ex-showroom price between ₹57,694-86,469 and the estimated 3rd party premium will be around ₹760.

You can purchase TVS bike insurance online from the comfort of your home. Bajaj Markets offers insurance policies for TVS bikes at affordable prices, and you can follow these steps to buy two-wheeler insurance.

• Step 1: Head to Bajaj Markets, and visit the online application form.

• Step 2: Enter your vehicle number, mobile number, and residential PIN code.

• Step 3: Read the terms and conditions, and if you accept these terms, click ‘Get Quote’.

• Step 4: Choose the insurance cover, and click ‘Buy Now’.

• Step 5: Add the owner-driver personal accident cover as mandated by the RTO.

• Step 6: Review and confirm the vehicle registration date and previous policy type (whether it was comprehensive or third-party insurance).

• Step 7: Click ‘Proceed’.

• Step 8: Provide basic details, such as the owner's name, date of birth, mobile number, and residential address. You should also provide the vehicle engine and chassis number as mentioned in the registration certificate (RC).

• Step 9: Confirm the previous policy details.

• Step 10: Go through the details provided to ensure they are accurate, and make the payment using your credit card, debit card, UPI, or Net Banking to purchase the policy.

   

Once the payment goes through, you will be able to download the policy document. You will also receive a copy of the policy document via email to your registered email ID within 5-7 business days.

Below is a list of some top TVS two-wheeler models along with the estimated premium price for TVS insurance.

Note: The mentioned ex-showroom prices are for Delhi and vary according to city. The premium prices for third-party insurance are also indicative and the actual premium will depend on several factors. Check the current premium rate before buying your TVS two-wheeler insurance.

Insurance plans for your TVS bike allow you to upgrade the financial protection of your plan by buying add-on covers for a nominal fee. Below are some add-on covers that you can buy with your basic TVS insurance plan:

• Zero Depreciation Cover: When you buy a zero depreciation cover for your TVS bike insurance, the company will not consider the depreciation of the two-wheeler parts during claim settlement. The policy will thus facilitate comprehensive coverage for the full insured value of the bike without focusing on depreciation. When you make a claim, this helps to minimise the costs incurred by you.

• Roadside Assistance Cover: A sudden breakdown of your two-wheeler can leave you stranded without help. Roadside assistance cover with your TVS insurance policy allows easy access to services such as tyre changes, towing, duplicate key making, and fuel delivery.

• Personal Accident Cover: Some experts regard personal accident cover as the most important add-on. It covers the costs of treatment if you incur injuries in an accident on your insured bike.

• Return to Invoice Cover: Some mishaps can lead to a total loss of your two-wheeler. A return to invoice cover is helpful in such cases. It allows you to get compensated according to the purchase invoice of your bike.
  

If you’re buying comprehensive TVS bike insurance, here’s what is included in the insurance policy.

• Coverage against theft

• Loss or damage to the two-wheeler caused by explosion, self-ignition, and natural and man-made calamities

• Damages to the insured vehicle stemming from accidents or malfunctions

• Financial and legal coverage against injuries and damage to the third-party driver/vehicle caused by the insured two-wheeler

• A specified amount is provided to the nominee in the event of the policyholder’s demise, or is given to the policyholder if they suffer permanent total disability due to an accident

   

If you’re purchasing third-party insurance, only the financial and legal coverage against injuries, death, and damage to the third-party driver or vehicle are provided.

You must also be aware of what is excluded from the TVS bike insurance policy. Here is a list of things excluded from your comprehensive insurance policy.

• Normal wear and tear of the two-wheeler, and the costs incurred by the policyholder to repair or replace parts that are damaged over time

• Any pre-existing defects or damages that the two-wheeler sustained before the policy was purchased, or damages suffered while the policy was inactive

• Mechanical breakdown of the two-wheeler as a direct result of the bike’s defective parts

• Loss or damage to the insured vehicle while riding without a valid driver’s license

• Any damage sustained by the vehicle while driving under the influence (alcohol or other intoxicants)

• Damages the two-wheeler may have sustained outside the designated geographical area
  

You may have a bike with the best features or specifications but that doesn’t protect it against mishaps. If you get involved in an accident, the costs of replacement for parts such as levers, indicators, cables and mirrors can easily add up. This can leave you financially drained. Thus, an insurance policy is quintessential to ensure peace of mind and financial protection at such times.

Tips to Reduce TVS Two-Wheeler Insurance Premium

The tips below will enable you to lower the premium associated with your TVS insurance plan:

• Avail No Claim Bonus while renewing your policy: If you do not make any claims in your policy year, you will be offered a lower premium for renewing the policy. This is known as “no claim bonus” and can go up to 50% for consecutive claim-free years.

• Compare Quotes Online: You can seek multiple TVS insurance quotes online and choose one based on price and requirements.

• Do not claim inexpensive repairs: While it may tempt you to claim all big and small repair expenses, you will lose the no-claim bonus if you do so. Thus, if the repair expenses are not too high, cover them yourself and protect your no-claim bonus.

• Maintain Your Bike: Getting your two-wheeler serviced regularly and maintaining it in good condition can ensure fewer issues. This can reduce the frequency of claims and thus reduce your premium in the future.
  

Here is how you can raise cashless and reimbursement claims with your insurance provider.

How to File a Cashless Claim

• Step 1: Contact the insurer by calling the toll-free number, visiting the official website, or sending an email to register your claim.

• Step 2: Identify the nearest network garage, and get your bike repaired.

• Step 3: Provide all the required documents.

• Step 4: The insurer will evaluate the cost and coverage amount per the terms and conditions, and settle the claim with the network garage.

How to File a Reimbursement Claim

• Step 1: Get in touch with the insurer and register the claim. You must also provide basic details, such as the engine and chassis number, and the date, time, and nature of the accident.

• Step 2: Get your bike repaired and bear the expenses.

• Step 3: Submit all the original bills and receipts to the insurance provider.

• Step 4: Upon successful verification of the documents, the insurer will reimburse the amount.

   

Below are the important documents that you need for filing a claim under your TVS insurance:

• TVS two-wheeler insurance policy document

• Bike details

• Insurer details

• Details of the Incident

• FIR copy, in case of theft/vandalism

• Original bills and receipts of the vehicle repair
  

Satisfied with your TVS insurance? Here is how you can renew it and extend the coverage to the next year:

• Step 1: Enter your previous policy details

• Step 2: Input your personal and bike-related details

• Step 3: Check your renewal premium

• Step 4: Make an instant online payment

• Step 5: Your TVS insurance will be renewed
  

The unavailability of adequate information often leaves us confused regarding the type of TVS insurance to invest in. You can choose between comprehensive or third-party bike insurance. Below is an explanation of each type to make the decision easier.

• Third-Party Bike Insurance: 

The Motor Vehicles Act, of 1988 mandates all two-wheeler owners to have third-party bike insurance. Under this insurance type, if the insured vehicle is in an accident and causes damage to another vehicle or person, the insurance protects the vehicle owner against legal liability regarding an injury or damage caused to the other party. This type doesn’t cover the owner or their bike. The premium on these policies is lower.

• Comprehensive Bike Insurance:

A comprehensive bike insurance plan will cover third-party liabilities and damage caused to your bike. The coverage includes theft, calamities, personal accident cover, personal damage, etc. Hence, the premium for comprehensive TVS insurance costs relatively higher. You can extend the scope of your comprehensive bike insurance policy with add-on benefits.

While third-party insurance is cheaper, there is no guarantee that your bike will not be damaged in an accident. This insurance type is recommended only if you ride your bike rarely or the bike is already very old. In other cases, comprehensive TVS insurance is the right choice.