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Home / Two-wheeler Insurance / Royal Enfield Bike Insurance / Royal Enfield Machismo 500 Bike Insurance
The Machismo 500 is a classic cruiser bike from Royal Enfield, having its admirers all across the country. This bike is the perfect ride companion for people who prefer burly cruisers. But if you want to ride a Machismo 500 on Indian roads, a bike insurance plan is essential. This guide will help you purchase a Royal Enfield Machismo 500 bike insurance online.
Here are the benefits of buying your Royal Enfield Machismo bike insurance online.
You can use the online platform to find policy information, buy or renew a policy and raise a claim for a Royal Enfield Machismo 500 two-wheeler insurance plan. This digital access allows you to initiate insurance-related services at your convenience without any waiting period.
Thanks to the online availability of insurance plans, you get to compare different policy choices easily. You can go through multiple policies to evaluate their coverage, prices, services, etc. Thus, selecting the best-suited bike policy online becomes much easier than offline.
You don’t need to book appointments or indulge in a lengthy procedure to buy a bike insurance plan. As a Machismo 500 owner, you can simply access the online platform, provide your bike details along with previous policy information (if available) to buy/renew a policy instantly.
The following types of policies are available for Royal Enfield Machismo 500 insurance.
You need at least a Bike Third-party Liability Plan to ride your Machismo 500 on Indian roads. This is a mandatory vehicle insurance plan as per The Motor Vehicles Act, 1988. Riding without this policy makes a vehicle liable for penalties. The coverage of this policy includes third-party injury, death or property damage while riding the insured bike. However, this policy does not include any coverage against the damages, loss or theft of the insured Machismo.
A Comprehensive Insurance Plan combines a Third-party Liability Plan with Own Damage or OD cover. This allows you to have coverage against third-party liabilities as well as damages, theft or loss of the insured bike. So, you receive financial protection if your bike gets damaged due to an accident, man-made/natural disasters, etc. Moreover, you can receive benefits and services related to repair-related claims as per the insurance plan.
Note: When buying a bike insurance plan, purchasing a Personal Accident or PA cover is necessary. The PA cover does not come included in a basic insurance plan. However, it is a mandatory cover as per the Indian law for motor vehicle owners. Hence, you must purchase it separately along with your insurance plan. The Personal Accident cover offers financial protection to the policyholder in case of temporary/permanent disabilities or death due to an accident.
Buying a Comprehensive Royal Enfield Machismo 500 bike insurance plan allows you to have the below-mentioned coverages.
Injuring a third party
Damaging the property of a third party
The demise of a third party caused by the insured bike
Accidental damages to the insured Machismo 500
Damages to the insured Machismo 500 caused by man-made/natural calamities (vandalism, floods, etc.)
Total loss of the insured Machismo 500 (damaged beyond repair)
Other coverages as per the included add-ons
Here are the situations not covered by a Royal Enfield Machismo 500 two-wheeler insurance plan.
Riding your bike without valid documents
Riding your bike in an intoxicated condition
Avoiding traffic laws when riding your bike
Using your bike in illegal racing
Damages to the bike that occur over time due to general wear and tear
Damages to the bike caused by electrical or mechanical problems
Riding the bike outside the geographical boundaries mentioned in the purchased policy
Raising a claim for bike damages for an inactive insurance plan
Below are the add-on covers you can generally purchase to increase the coverage of your Royal Enfield Machismo 500 insurance.
Engine Protect Cover
Zero Depreciation Cover
Personal Belongings - Theft/Damage
Roadside Assistance Cover
Outstation Emergency Cover
Key Protect Cover
Disclaimer: The availability of the above-mentioned add-on covers may differ from insurer to insurer.
You should choose ACKO to buy Royal Enfield Machismo 500 insurance for the following reasons.
ACKO keeps the operating costs low with 100% digital infrastructure for insurance services. Moreover, there are no agent commissions involved due to the direct-to-customer model. Hence, you obtain bike insurance plans at low costs.
When buying or renewing a policy from ACKO, you don’t have to indulge in lengthy paperwork. In fact, ACKO embraces a zero paperwork model to make bike insurance easy to purchase online by providing only the essential vehicle and previous policy details.
ACKO’s online claim registration and dedicated support team ensure faster claim settlements. We try to settle minor claims in just a few hours after you raise a claim online. However, the claim settlement for severe damages may take longer.
Here is how you can raise your Royal Enfield Machismo 500 insurance claims.
Step 1: Log in to your ACKO account via the official website or mobile application.
Step 2: Find your RE Machismo 500 policy and click on ‘Claim’.
Step 3: Upload pictures of the damaged vehicle and answer damage-related questions to submit your claim.
After you register a claim, ACKO’s support team will contact you to figure out the damages in detail. You can expect to receive the settlement amount for minor claims in a few hours after raising a claim. But if the damages are severe, the settlement may take 3 working days or more as per the complexity of repair requirements.
ACKO offers a Comprehensive Insurance Plan for bikes to cover against third-party liabilities and loss or damage of the insured bike as well. The Own Damage coverage included the policy protects financially if the vehicle gets damaged due to an accident. Moreover, it provides coverage against loss, theft, and/or vehicle damages caused by natural/man-made disasters.
You can use the digital platform of ACKO to instantly renew Royal Enfield Machismo 500 two-wheeler insurance. The online policy renewal is possible via the official website as well as the mobile app. You can enter bike details and provide previous policy information to make a purchase.
ACKO ensures that you don’t have to get involved in any physical paperwork when purchasing bike insurance. The process is completely digital and requires you to simply fill in a few details of your Machismo 500 bike along with previous insurance information (if available). All this requires no paperwork at all.