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If you are planning to purchase a Triumph Bike or already have one, then you must consider its insurance cost. A two-wheeler requires continuous investment. This is usually in the form of fuel, maintenance, and insurance charges. Note that insurance is a mandatory requirement in the country. For example, you need Triumph Bike Insurance to comply with the law and insure your bike.
If you manage expenses for fuel, maintenance, and insurance well, you will be able to manage your bike’s expenses smoothly. This article will help you with the insurance part of the triad. Read ahead for detailed information regarding purchasing a two-wheeler insurance policy for your Triumph bike.
Listed below are the benefits of insuring your Triumph bike with a wide-ranging two-wheeler insurance policy.
Be a law-abiding citizen by insuring your bike. Stay away from penalties by buying and renewing bike insurance.
In the case of third-party mishaps, the insurance policy will cover your financial liabilities as per the policy’s terms and conditions.
Triumph bikes are costly as compared to the average bikes in the Indian bike industry. This means that the spare parts and the cost of repair can also be on the higher side. Here’s where an insurance policy will be of great help.
You can buy add-ons to ensure better value for money and peace of mind. Some add-ons, if used smartly, can help to save money in the long-run.
In India, you can choose from two insurance policies. The first one is the basic Third-party Plan. It is known as Third-party Two-wheeler Insurance. As the name suggests, the insurance policy covers the bike owner’s liability when it comes to injury to third parties. It also covers damages to third-party property. Both these damages are covered if they are caused by the insured bike.
The second option is a wide-ranging one. It is known as a Comprehensive Two-wheeler Policy. You can insure your Triumph bike with this policy to ensure a Liability Cover as well as an Own Damage bike insurance cover. Such a cover also provides you with an option to purchase add-on covers.
You can benefit from the following coverages on purchasing a Comprehensive Bike Insurance Policy for your Triumph bike in India.
Personal Accident Cover for the owner/rider of the insured Triumph bike in the case of involvement in an accident resulting in permanent disability or death.
Insurance cover for the Triumph bike in case of damage to its parts due to an accident.
Insurance cover for the Triumph bike in case of damage due to fire.
Insurance cover for the Triumph bike in case of damage due to natural calamities.
Insurance cover for the Triumph bike in case of damage due to manmade calamities.
Insurance cover in the case the Triumph bike is stolen.
There are certain instances where the insurer will not be able to settle the insurance claim raised against a Comprehensive Policy of the insured bike. These instances are known as policy exclusions. Here’s a list of such exclusions.
Consequential damages to the insured two-wheeler.
Riding the Triumph bike without a valid Driving License.
Riding the Triumph bike without a valid insurance policy.
Riding the Triumph bike in an intoxicated state beyond the permissible limits if any.
Claiming against instances that are not mentioned as inclusions in the respective insurance policy.
Add-ons are extra insurance covers. You can buy them by paying an extra insurance premium. There are multiple add-ons to choose from. Each add-on will increase your final payable premium. Thus, it is crucial to select only those extra insurance covers that can add value to your insurance policy. Such add-ons cannot be purchased with a liability-only cover nor are they standalone covers. They need to be clubbed with a Comprehensive Cover. Here’s a list of popular add-ons for your Triumph Bike.
This add-on helps you make the most of a claim as it negates the depreciation calculation during claim settlement.
Insure your bike’s heart with this add-on as a Comprehensive Policy won’t be able to provide ample coverage in this regard.
Protect your hard-earned No Claim Bonus (renewal discount) with this add-on as it allows you to raise a claim or two during the policy period without resetting the NCB.
With this add-on, you can receive the insured bike’s invoice value as opposed to its Insured Declared Value (less than the invoice value) in the case of a total loss (damage beyond repair or theft).
Ideal for those who often ride their Triumph bike with a companion. Such an add-on offers the pillion rider with a cover like the Personal Accident Cover for the owner/rider.
You can buy and renew Triumph two-wheeler insurance easily with Acko. Listed below are the top reasons why you should consider insuring your Triumph bike with Acko.
Acko offers bike insurance policies at a low cost. This is possible because there is Zero Commission charged when you buy directly from www.acko.com. As there are no middlemen here and the overall operational cost is low because of the digital-first nature of the company, the cost-benefit is transferred to the policy purchaser in the form of incredibly low premiums.
You do not have to set appointments or reach out to an executive to buy bike insurance online. Simply visit the company website and insure your bike within the time taken to order a meal online. This can be done without any expert knowledge of insurance as all the necessary information and support is available online.
Claiming insurance with Acko is completely hassle-free. Just initiate a claim by logging in to the website and the rest will be managed smoothly by the dedicated claims team. You shall get regular updates about the claim status while it is being settled.
If you find yourself in a position where you need to raise a claim against your bike insurance policy, you need to follow the below-mentioned process. Note that the following steps are generic. Some insurers might have a specific process when it comes to settling claims.
Step 1: Contact your insurer via the applicable medium (website, mobile app, call, email, etc.) and inform them about the instance for which you want to raise a claim.
Step 2: Comply with the insurance company and provide essential details regarding your insurance policy and the incident for which you are raising a claim.
Step 3: Follow the stated process in terms of filing a claim and providing documentation if any.
Step 4: The claims inspector will have a look at the vehicle and ascertain the cost of repairs.
Step 5: Claim shall be settled via the Cashless or the Reimbursement process.
This section is all about common queries and their answers regarding Triumph bike insurance.
An online bike insurance policy is a valid document considering you buy it from an authorised seller. There’s no need for further validation.
Yes, you have the option to upgrade to a Comprehensive Bike Insurance Plan at the time of renewal. You can also buy suitable add-ons with the plan. The payable amount will depend upon your bike’s model, location, insurer, etc. You can check out the payable premium by visiting Acko Two-wheeler Insurance page.
The insurance company might need to inspect your bike before offering a Comprehensive Bike Insurance cover. This can depend upon the number of days that have elapsed after policy expiry along with the insurance company’s renewal and inspection policy.
Yes, purchasing multiple add-ons with a Comprehensive Plan is allowed.
You can raise a claim and benefit from the No Claim Bonus discount if you have purchased the No Claim Bonus Protection Add-on. This add-on can be named differently by different insurance providers.
If you come across any errors in the policy document, get in touch with your insurance company and let them know about it. Usually, they will make the changes and share the updated policy with you.
If you have a Comprehensive Bike Insurance Policy, vandalism should be covered by it. For details, you can refer to the respective Policy Wordings. The claim settlement will also depend upon various other things such as your compliance with the due process, submission of necessary documents, and other terms and conditions.
If you are unable to find your bike on the insurer’s website, you can call the insurer, contact the team through social media, or simply sending a query email to them. They will let you know if it is possible to insure the bike online or not.
Yes, a bike insurance policy is valid across India, unless specified otherwise.
Yes, you can choose a different bike insurer while renewing the policy.