Yamaha YZF Insurance in India

About Yamaha YZF Insurance

Yamaha entered the Indian automobile market in 1985 and quickly became a beloved brand for many bikers across the nation. The Japanese motor company is known for manufacturing trendy bikes designed with the latest engineering that ensures a smooth riding experience. The Yamaha YZF series of bikes consists of a collection of premium sports bikes with engine capacity varying from 150 cc to 1000 cc. In this article, we’ll take a look at Yamaha YZF R15 two-wheeler insurance options, specifications, and features.

Yamaha YZF Variants

Let’s take a look at the variants for YZF R15 and their ex-showroom price: 

Types of Yamaha YZF Bike Insurance Plans

• Third-Party Insurance

A third party insurance cover is a basic form of two-wheeler insurance that protects you from third-party liability and provides financial cover to the third party involved in an accident for damages and personal accident expenses. As per the Motor Vehicles Act, 1988, third party insurance is mandatory for all vehicles in India.

• Comprehensive Insurance Cover

A comprehensive insurance plan is a more advanced policy that protects you and your vehicle apart from providing third-party insurance cover. You also have the option to enhance your policy by adding extra covers like zero depreciation or theft cover. While comprehensive bike insurance is generally more expensive than third-party insurance, it can save you the costs of repairs during emergencies, in the long run.

Inclusions in Yamaha YZF Bike Insurance Plans

The following situations/circumstances will be covered under your Yamaha YZF insurance plan:

• Own damage cover due to loss or damage of the insured vehicle

• Third-party liability due to damage or injury to third-party

• Personal accident cover

• Loss or damage due to theft or natural calamities

• Total loss because of explosions, fire or terror attacks.

Exclusions in Yamaha YZF Bike Insurance Plan

The following situations/circumstances will be excluded from your Yamaha YZF insurance plan:

• Regular electrical and mechanical repairs

• Tyre damage (unless the two-wheeler is damaged as well)

• Driving without a valid license

• Driver under influence of drugs or other intoxicants

• Third-party liability cover

• Two-wheeler used for illegal practices

• Two-wheeler used outside geographical perimeters

• Vehicle rented for goods carriage or rewards

Add-on Covers for your Yamaha YZF Bike Insurance

Here is a list of add-on covers you can buy along with your Yamaha YZF bike insurance:

• Zero Depreciation Cover

With a zero depreciation cover, the full market price value of your bike will be eligible for the insurance claim in case of damage or theft of the bike, regardless of depreciation. With this cover, you can get the full retail value of your bike back in case of theft or total accidental damage.

• Personal Accident Cover

In the case of a bike accident, any injury, disability or even death of the policyholder or driver will be covered under the personal accident cover for bike insurance.

• Consumables Cover

Generally, the cost of consumables is not covered under your Yamaha YZF two-wheeler policy. However, the consumables cover add-on also provides coverage for consumables such as coolant, oil change etc.

• Return to Invoice Cover

In case your bike is fully damaged or stolen, the full market price of the bike that you paid at the time of purchase will be refunded under the insurance cover.

• NCB Protection Cover

No-Claim Bonus (NCB) is a discount offered to policyholders who do not make any insurance claims during a given policy year. An NCB cover add-on allows for the policyholder to make up to two insurance claims in a given policy year without losing the NCB benefit.

How to Apply for Yamaha YZF Bike Insurance

Here are the simple steps you can follow to apply for Yamaha YZF Bike Insurance at Finserv MARKETS online:

Step 1: Visit the Finserv MARKETS online ‘Two-wheeler insurance’ section.

Step 2: Enter the necessary details like bike registration number and mobile number in the bike insurance calculator. If you do not have a bike registration number, enter the RTO location, bike model, manufacturing year, and bike registration date.

Step 3: Once you have entered your details correctly, you will receive a policy quote along with details about the premiums.

Step 4: If you wish to purchase this plan, you can proceed with the online payment.

Step 5: Once your payment has been processed, your insurance policy details will be sent to your registered email id.

Claim Process For Yamaha YZF Bike Insurance

Two-wheeler insurance has two types of claims: Cashless claims and Reimbursement Claims. In cashless claims, you only have to pay a certain deductible fee and the remaining expense will be borne by the insurance company.

For reimbursement claims, first, you report the damage to the insurance company and then pay all the repair expenses. Later, this amount is reimbursed by the insurance company.

When claiming bike insurance

Step 1: First, contact your insurance company as early as possible.

Step 2: In case of a severe accident or theft, lodge an FIR at the police station. This is an important document for the claim and will also expedite the claim process.

Step 3: Evaluate the damage at the authorized services centres of the insurance company. During this process, cashless benefits, too, can be availed.

A reimbursement claim is convenient and stress-free for quicker settlement.

How to Renew Yamaha YZF Bike Insurance

Here are the steps you can follow to renew your Yamaha YZF bike insurance:

Step 1: Visit the Finserv MARKETS website and go to the bike insurance/two-wheeler insurance section.

Step 2: Enter details of your bike along with the existing or expired bike insurance policy details.

Step 3: After you have input the relevant information, a set of bike insurance renewal options will show up.

Step 4: You can select the plan that fits your needs. You can also make changes to it by adding any specific covers you may need.

Step 5: Pay the online fee for the chosen bike insurance renewal plan.

Step 6: Your bike insurance plan will be renewed and a digital copy of the insurance will be sent to your email.

You can use the bike insurance calculator to find the Yamaha YZF bike insurance premium estimates.

Documents Required for Yamaha YZF Insurance Claim

In case of an accident, submit the following documents to make an insurance claim:

• Copy of insurance policy, vehicle registration certificate, licence, and FIR

• Tax receipt

• Filled and signed claim form

• Repair bills and payment receipts

• Vehicle inspection address

• Vehicle repair cost estimate

In the case of theft, you will need to submit the following documents.

• FIR and final report of police

• Tax receipt

• Original insurance policy document and RC book

• Claim discharge voucher

• Theft declaration from RTO

• Letter of Subrogation

To Conclude

While the Yamaha YZF series of bikes are a great choice, you may have to pay a lot of money for repairs and maintenance as most bikes in the YZF series are high-end sports bikes. Comprehensive bike insurance can keep you financially covered for the expensive costs of repair and parts replacements in the case of an accident; additionally, you can get the monetary value of your bike returned to you in case of theft. Moreover, as mentioned earlier, all vehicles in India need to have at least third-party insurance cover to drive on Indian roads. If you are looking to buy insurance, you should look into the two-wheeler insurance plans available on Finserv MARKETS.

Check Out Bike Insurance Plans Available at Finserv MARKETS