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Bike Insurance for CFMOTO Bikes
CFMOTO bikes are attractive, performance-driven, and durable. If you own such a bike or are thinking of purchasing one, then do factor-in the supplementary costs associated with it as well. For example, you will be required to purchase a CFMOTO bike insurance policy along with the two-wheeler. This is a mandatory requirement in the country. No to insurance means Yes to penalties.
Apart from the compulsion associated with the insurance policy, you should look at purchasing a suitable insurance plan from a financial cushioning perspective. CFMOTO bike’s spare parts are costly. Repairing the damage to a CFMOTO can be expensive. Here's where a wide-ranging policy can come to your rescue and save you from spending an enormous amount on repairing the bike. This article will tell you all you need to know about buying, renewing, and claiming CFMOTO bike insurance online.
Here are some top benefits of buying and renewing your CFMOTO’s Comprehensive insurance.
An active policy will ensure that you do not get penalised by the authorities for violating the mandatory insurance law.
Stay insured against Third-party Liabilities as well as Own Damages throughout the policy period. Renewal before expiry will lead to uninterrupted coverage.
Not only will the insurer take care of major expenses related to bike accidents but also help you out with the basic logistics of how to go about things in case of a bike mishap.
Whether you purchase bike insurance online or offline, you have two options regarding bike insurance. Here they are.
The first type of bike insurance policy is the standard, low-cost, minimalistic Third party Liability Two wheeler Insurance. This is mandatory. It does not cover damages to your bike but insures you in case your bike causes damage to others.
The second option is a wide-ranging one but costlier than the minimalistic cover. It is known as a Comprehensive Cover and includes mandatory insurance coverage. Plus, it offers the Own Damage cover where damages to your bike are also covered.
If you insure your CFMOTO bike with a Comprehensive Plan, you shall benefit from the following policy inclusions. Note that the exact inclusions can vary from one policy to another and it is suggested to read the fine print of the respective policy for specific details. Here’s a generic list of inclusions.
Third-party Liability Bike Insurance Cover
Personal Accident Cover
Cover if the CFMOTO bike is damaged due to fire
Cover if the CFMOTO bike is damaged due to vandalism
Cover if the CFMOTO bike is damaged due to flooding
Cover for theft
Insurance companies have to abide by certain rules when it comes to settling claims. They verify the claim applications and check for fraudulent activities. They have a look at the instance for which the claim is raised and check if it is a part of the above-mentioned inclusions, and if it is not part of the below-mentioned exclusions. Exclusions are instances where the insurer will not be able to settle the claim. The exact list of exclusions can vary, here’s a generic list for an overview.
Consequential damages to the CFMOTO bike.
Using the CFMOTO bike with an expired or invalid Driving License.
Using the CFMOTO bike with an expired or invalid valid insurance policy.
Using the CFMOTO bike in an intoxicated state.
Claiming against instances that are not as per the policy’s terms and conditions.
A Comprehensive Policy has lots of advantages over the basic, Third-party Plan. However, it does get a bit generic. To tackle this issue, you have the option of choosing add-ons. Add-ons are small, additional insurance covers. You can use them to add a touch of personalisation to your bike insurance policy.
Usually, bike insurers offer a variety of add-ons to choose from. Not all insurers might offer all add-ons. But most of them have a sizable bunch. You need to make sure the add-on you are thinking of buying adds value to your cover. Otherwise, you will end up spending a lot on insurance premiums. Here’s a list of prominent add-ons.
Just as a bike owner/rider has a Personal Accident Cover, the pillion rider can also have one with this add-on.
The bike’s value reduces at is ages and it is reflected in claim settlement. However, with this add-on, the depreciation amount shall not be considered while settling claims.
In total loss (bike theft or major bike accident) the insurer settles the claim by paying the Insured Declared Value. With this addon, you can receive the invoice value.
You can safeguard your No Claim Bonus (NCB) benefit with this add-on. Thus, you can raise a claim and still benefit from the applicable discount while renewing the policy.
Major damages to the engine shall be covered with this add-on. Such damages are usually not covered by a Comprehensive Plan.
Here’s a list of advantages associated with insuring your CFMOTO two-wheeler with a Comprehensive Policy from Acko.
The world has come a long way in terms of technology thanks to affordable internet and smartphones. Just as you can order food, buy groceries, and shop online, you can also insure your CFMOTO bike online via www.acko.com. It is a completely online process where you do not have to submit a file of documents or fill forms running into pages. It is simple, easy, and quick.
Insuring your CFMOTO is not just convenient but also inexpensive. Digital-first companies like Acko do not rely on middlemen when it comes to offering policies via the website. Also, the operational cost is reduced due to the online infrastructure and this cost advantage is provided to policyholders in the form of low premiums.
The tech-based set-up speeds up the claims process as well. You can raise claims online and track them. The coordination becomes easy because of the technological intervention resulting in zero-stress claims. Bike insurance claims are settled in a cashless manner for total convenience of the policyholder.
Simply buying insurance from an insurer that offers it in a convenient way is not enough. The real test of this convenience is at the time of settling claims. The smoother the claim settlement process the better. With digital-first insurers entering the industry, the claims process has become quicker. It also varies from company to company. Some might offer a website-based process, others might prefer an app or a calling method. Here’s a generic claim process that is followed in case of claims.
Step 1: Contact your insurance company and register the claim.
Step 2: Share details.
Step 3: Follow the process regarding verification and documentation.
Step 4: Be honest with the claim inspector during the inspection process if any.
Step 5: Settle the claim by choosing a Cashless or Reimbursement method.
Here are some questions and answers that are generally asked when it comes to CFMOTO bike insurance.
Commonly Asked Questions About CFMOTO Bike Insurance
The online bike insurance policy is a valid document. It does not need any further validation, make sure you purchase the policy from a certified seller.I am thinking of switching my CFMOTO bike’s policy from a Liability-only to a Comprehensive one. Also, I want to switch to an online insurer as my previous insurer is not tech-savvy. Is it possible to switch?
You can switch between policies and insurers while renewing your CFMOTO bike’s policy online. Simply visit the insurer’s website (for example, www.acko.com) and renew your policy as per your liking.What if I, unfortunately, miss my policy’s renewal date and there is an accident involving my CFMOTO bike. Will the insurer cover my repair expenses?
Your policy needs to be active to avail an insurance cover. The insurance company will not cover accidents in case of an expired policy.I was researching for my CFMOTO bike’s policy and I found three add-ons that are suitable for me. Can I buy all three or is there a restriction when it comes to buying add-ons?
You can buy multiple add-ons to increase the bike’s insurance coverage. However, note that including add-ons will hike up the payable premium. Thus, buy only those add-ons that add value to your policy.Am I allowed to make multiple claims during the policy period?
Yes, you are allowed to make multiple claims during the policy period based on the terms and conditions of the chosen plan.I received my CFMOTO’s insurance policy in the email after making the online payment but there is a typographical error in it. What should be done?
In case there is a mismatch in the information shared and the information mentioned in the policy document, make sure to contact your insurer and inform them. They will rectify the error and issue a revised copy.I have purchased the newly launched CFMOTO and it does not seem to be available on insurers’ websites. Does this mean I cannot buy online insurance for it?
Insurers might take some time to include newly launched bikes in their online policy buying system. If you are not able to find your bike on the insurer’s website, you can call the company and mention that you want to insure your new bike. They will let you know the process.Will the insurer cover me if I reside in Punjab but the bike accident took place while I was on a road trip in Himachal Pradesh?
Bike insurance cover is applicable across the country unless specified otherwise. Thus, your insurer should cover the accident provided you meet the terms and conditions of the policy.I do not use my CFMOTO bike much. Its policy has expired. Is it okay if I do not renew its insurance?
If you own a bike, you should insure it. If not with an all-round cover, then at least with a basic Third-party cover as it is a legal requirement. Considering your bike is not used much, you can opt for a minimalistic cover. However, it is suggested to go for a Comprehensive Cover since the CFMOTO bikes are expensive.I do not want to renew my bike insurance by going through the showroom as they have limited options. Recently, I came across online insurers and found them to be a convenient option. Is it possible to renew from an online insurer considering I had not originally purchased the policy from them?
Yes, it is allowed to renew your bike’s insurance policy from an online insurer even though you have not purchased the policy from them. Online insurers offer different means to purchase the policy. You can renew the policy via their website or from their app as well if it is available. If you are stuck and need assistance, you can call them up.
CFMOTO bikes command a higher price because of their appeal and performance. If this bike gets damaged, you will have to spend a huge amount from your pocket to get it repaired. However, with the right CFMOTO two-wheeler insurance policy, you can save this expenditure and let the insurer take care of it. For this service, you have to pay premiums periodically to the insurer.
Also, insurance is compulsory in India. This makes it crucial for you to insure your CFMOTO bike. You can just tick off the compulsion part of the policy by purchasing a low-cost, low-cover Third-party Plan. But this will not help with repair expenses discussed above. A Comprehensive Plan will do that for you. It also includes the compulsory aspect so you are covered on both fronts.
Buying and renewing online bike insurance is easy. It is just like online shopping. You can insure your CFMOTO bike online in just two minutes. Just make sure to choose the right cover and go through its inclusions and exclusions.
CFMOTO or CFMoto is a brand with a presence in five continents. It was started in 1989, but its India-based operations are a recent addition. The brand offers premium bikes. From street bikes to touring bikes, you can choose your preferred CFMOTO bike and enjoy the ride.
This bike will be ideal for you if you like sports bikes and go on road trips. A tourer bike can be a great pick for long rides. These bikes are fast, stylish, and made with passion. If you are a passionate biker and identify with the brand ethos, then CFMOTO bikes are for you.
Top reasons for buying a CFMOTO Bike:
Mentioned below is a table featuring key specifications along with the variants of popular CFMOTO bikes. Their prices come in the range of INR 2 to 6 lakhs. Note that the costing, delivery, and availability might vary due to COVID-19. Please speak to your bike dealer for specific details.
|Specifications/Models||CFMOTO 650MT||CFMOTO 650NK||CFMOTO 650GT||CFMOTO 300NK|
|Displacement||649 cc||649.3 cc||649.3 cc||292.4 cc|
|Max Power||70.70 PS @ 8750 rpm||61.18 PS @ 9000 rpm||62.54 PS @ 9000 rpm||33.99 PS @ 8800 rpm|
|Max Torque||62 Nm @ 7000 rpm||56 NM @ 7000 rpm||58.5 Nm @ 7000 rpm||20.5 Nm @ 7200 rpm|
|No. of Cylinders||2||2||2||1|
|Cooling System||Liquid Cooled||Liquid Cooled||Liquid Cooled||Liquid Cooled|
|Starting||Self-Start Only||Self-Start Only||Self-Start Only||Self-Start Only|
|Fuel Supply||Fuel Injection||Fuel Injection||Fuel Injection||Fuel Injection|
|Gear Box||6-Speed||6-speed||6 Speed||6 Speed|
|Bore||83 mm||83 mm||83 mm||78 mm|
|Stroke||60 mm||60 mm||60 mm||61.2 mm|
|Variants||650MT STD||650NK STD||650GT STD||300NK STD|
|Aprilia Two Wheeler Insurance||Bajaj Two Wheeler Insurance||Ducati Two Wheeler Insurance|
|Harley Davidson Two Wheeler Insurance||Hero Motocorp Two Wheeler Insurance||Honda Two-wheeler Insurance|
|Kawasaki Two Wheeler Insurance||KTM Two Wheeler Insurance||LML Two Wheeler Insurance|
|Mahindra Two Wheeler Insurance||Royal Enfield Two Wheeler Insurance||Suzuki Two Wheeler Insurance|
|TVS Two-wheeler Insurance||Vespa Two Wheeler Insurance||Yamaha Two Wheeler Insurance|
ACKO General Insurance Limited
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Category: Non-Life Insurance
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