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Bike insurance is crucial for all types of bikes. Its importance is heightened in the case of Moto Guzzi bikes. They are priced around INR 20 lakhs. This makes them an expensive asset. And the need for insurance is more in case of expensive assets. You must buy Moto Guzzi bike insurance not just because it is compulsory in India. But also because it will help you in case the bike gets damaged and you need to repair it.
The cost of replacing the spare parts of a 20-lakh bike is going to be on the higher side. But with the right insurance policy, you do not have to worry about repair expenses. Read this article to get to know the right kind of insurance policy for your Moto Guzzi two-wheeler.
Here’s a list of top benefits of purchasing and renewing insurance online.
As insurance is compulsory, you can avoid fines by insuring your bike.
In case your bike causes damage to a third party, the insurance policy will take care of it.
Bike repairs can be costly, especially for high-end sports bikes and touring bikes. An insurance policy will help you out with bike repairs in case of accidental damage.
Comprehensive Two-wheeler insurance is best suited for high-end bikes, such as those manufactured under the Moto Guzzi brand. Here are the inclusions of such a policy. They are the instances where the policyholder can raise a claim. Note that the list mentioned below is a generic one. The exact inclusions list can be checked by going through the respective Policy Wordings.
A cover to insure the owner/driver against Third-party Liabilities.
A cover to insure the owner/driver against permanent disabilities and death due to a bike accident.
A cover to insure against damages caused to the Moto Guzzi because of fire.
A cover to insure against damages caused to the Moto Guzzi because of vandalism and other manmade calamities.
A cover to insure against damages caused to the Moto Guzzi because of flash floods and other natural calamities.
A cover for the theft of a Moto Guzzi bike.
Along with the coverage of a bike insurance policy, you must also be aware of what is not covered. Such points are known as policy exclusions. These are scenarios where the insurer will not be able to settle claims. Just like the list of inclusions, the list of exclusions is also mentioned in the Policy Wordings. Here’s a generic list.
No insurance cover where the owner/rider rides without an active Driving License.
No insurance cover where the owner/rider rides without an active insurance policy.
No insurance cover where the loss is due to Consequential Damages.
No insurance cover where the owner/rider rides in an intoxicated state.
No insurance cover when the terms and conditions of the policy are not adhered to.
Moto Guzzi bikes stand for speed, convenience, and value for money in terms of performance and riding quality. The same attributes of speed, convenience, and value for money can be associated with a Comprehensive Two-wheeler plan from Acko. Here’s a detailed explanation of it and the benefits of opting for bike insurance online.
You can insure your Moto Guzzi bike in a matter of minutes by visiting www.acko.com. There’s no need for tiring paperwork for form-filling and documentation. Not just that, the claim settlement is also very breezy.
With Acko, you can insure your bike as per your preferred time. All information is presented to you in a simplified manner to enable you to make an informed decision without the need for an agent or a middleman. In case you need help, there’s customer support available.
You can purchase Moto Guzzi Bike insurance from Acko at an affordable price. Acko offers low premiums without cutting down the coverage. Being a digital-first insurer, the brand’s operational cost is less. No middlemen mean no commissions. Such cost advantages lead to incredibly low-priced policies.
You can insure your bike with either a minimalistic policy or an all-round one. Both options are available while shopping for an insurance policy online. Here’s a brief explanation about the two types of policies.
A basic plan offers a Third-party Cover. This means that the insurer will cover your expenses against liabilities arising due to third-party injury or third-party property damage. Such a cover insures the owner/rider against permanent disabilities and death arising due to a bike accident.
A Comprehensive policy is ideal for bikes from brands like Moto Guzzi. They offer a distinct advantage over the basic plan. They offer the ‘Own Damage’ cover. Plus, the coverages offered in the basic plan are included. Also, you get the option to choose add-ons. Such an option is not available with the base plan.
You can choose add-ons to make your Comprehensive Plan even more beneficial. The add-ons can be perceived as extra insurance covers. They are not that expensive and offer a specific advantage. They can either be service-based or claim-based.
A service-based add-on will offer a specific service for the premium charged. For example, Roadside Assistance. A claim-based add-on will help to get a higher pay-out while settling claims. For example, Zero Depreciation. Here’s a list of prominent add-ons and their key features.
A must for those who always have a pillion rider with them. It offers accident coverage to your riding companion.
Won’t it be great if you could get a higher claim amount by not calculating the depreciation of bike parts? This add-on exactly does that.
A situation where the bike is stolen or damaged beyond repair is scary. With this add-on, the insurer will offer you the bikes invoice value for such events.
Most policies exclude damages to the engine. This add-on offers a cover to protect the heart of your bike.
Towing assistance on an unfamiliar road can prove helpful. This is a service-based add-on for two-wheelers.
Nowadays, the claim process is also simplified and can be performed online. You can also track the claim status and get frequent updates. The exact process will be different across companies. But here’s a generic process for your understanding.
Step 1: Get in touch with your insurer. This can be done via the website or the app if such facilities are available. Or you can call or email the insurer.
Step 2: Share details about the accident. Submit supporting documents if needed. For example, the First Information Report filed at the police station as instructed by the insurer.
Step 3: The company might appoint a claims supervisor. Coordinate with the supervisor.
Step 4: Raise a Cashless or a Reimbursement Claim.
Step 5: Close the claim from your end as per the chosen method.
Even though two bikes are purchased from the same dealership on the same day, the premium paid for them can vary as per the chosen coverage. Maybe your premium is higher because you have chosen more add-ons in your policy than your friend.
Yes, you can do that. Note that whether you transfer the policy or buy a new one, insuring the bike is compulsory.
Yes, if a police officer asks for your bike’s two-wheeler policy and you do not have an active one, you can be charged with a monetary penalty.
No, purchasing an Own Damage cover without the third-party coverage is not acceptable. You need the third-party coverage in one form or the other.
Yes, you have the option to switch to comprehensive coverage while renewing your policy.
You can buy insurance from an authorised dealer. However, make an informed choice regarding this by researching well.
You can raise both kinds of claims. And they can be raised in the same policy period as per the terms and conditions.
Yes, policies issued in India are applicable all over the country.
Bike inspection is carried out based on the insurer’s discretion. If the gap is not a big one then the insurer might decide against inspection and renew the plan without it.
Yes, you can include two add-ons in a Comprehensive Plan. Note that including add-ons is not permissible in a Third-party Bike Insurance Policy.
IRDAI Registration No: 157
Category: Non-Life Insurance
The use of images and brands are only for the purpose of indication and illustration. ACKO claims no rights on the IP rights of any third parties. The ratings are derived from reviews and feedback received from Google and Facebook users on their respective platforms. | *Save Rs. 45,000 has been calculated on IDV of 20,00,000, 0% NCB and select add-ons. Amount saved is in comparison to Acko's F&U filing. Product name: Private Car Policy - Bundled | UIN: IRDAN157RP0014V01201819 |
Trade logo displayed above belongs to ACKO Technology & Services Pvt Ltd and used by ACKO General insurance Limited under License. For more details on risk factors, terms, conditions and exclusions, please read the policy wordings carefully before concluding a sale.