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TVS iQube electric scooters were first launched in early 2020. These bikes feature excellent ride quality, cost-effective mileage, easy maintenance and other beneficial features. However, before riding them on Indian roads, it is crucial to avail financial protection against potential liabilities. In this article, we will be discussing TVS iQube electric scooter insurance and the benefits of buying bike insurance online.
The following are the bike insurance plans currently featured by ACKO for TVS iQube bikes.
Apart from being the most basic bike insurance available for Indian bikes, this plan is also legally mandatory. However, it only covers third-party liabilities.
Alternatively, a Comprehensive Bike Insurance plan offers an Own Damage (OD) cover in addition to the coverages of the previously discussed plan.
The following accident scenarios are the inclusions of a Comprehensive Bike Insurance Plan for TVS iQube.
Injury, death or damage of property to a third party resulting from an accident
Damage/loss that is brought on by natural disasters like cyclones, earthquakes, floods, etc.
Damage/loss that is brought on by man-made causes like explosions, riots, vandalism, etc.
Loss of the insured two-wheeler resulting from theft
Irreversible damage to the electric scooter
If add-ons are bought, more inclusions
Note: A Personal Accident (PA) cover offers financial compensation if the insured incurs disability or death due to an accident. As per the law, it is compulsory for a bike owner to be in possession of a PA cover. However, it is not offered under Comprehensive Bike Insurance.
The following accident scenarios are the exclusions of a Comprehensive Bike Insurance Plan for TVS iQube.
Damages that result from taking part in illegal racing events
Driving under the influence of inebriating substances
Driving without legally necessary documents
Driving without observing traffic rules
Damages that can be ascribed to mechanical or electrical malfunctions in the scooter
Damages that can be ascribed to the regular wear and tear of electric scooter parts
Damages that come to pass in geographical areas that are not covered under the policy
You can avail the following add-ons under a Comprehensive Bike Insurance for TVS iCube scooters.
Outstation Emergency Cover
Roadside Assistance Cover
Zero Depreciation Cover
Personal Belongings Cover - Damage/Theft Cover
Personal Accident Cover
Key Protection Cover
Bike Engine Protection Cover
Disclaimer: All these add-ons are subject to availability.
Here are the reasons why you should consider purchasing ACKO’s bike insurance for your TVS iCube electric scooter.
Owing to ACKO being a digital and online insurer, many operational expenses are skipped. These expenses include middle-men charges and other logistical costs. These saved costs permit us to offer policies that are reasonably priced.
We understand that your time is important to you, so we prioritise settling claims as quickly as possible. Thus, claims raised for slight damages are settled within a few hours of the claim being raised. However, more critical damage may take more time.
Usually, when buying bike insurance, insurers prefer to inspect the two-wheeler before activating the policy. ACKO’s bike insurance does not require any such vehicle inspection. You can buy it without going through that step.
Since ACKO runs on a completely digital infrastructure, there is no need to submit any physical documents while buying bike insurance. Also, you do need to complete any paperwork, you just need to fill in certain details online.
Buying bike insurance online has several advantages over the offline alternative. Some of them include the following.
Buying online bike insurance may only take you a few minutes to complete. However, the offline alternative could take a few weeks.
You can compare plans online and choose the plan that has the best cost-to-benefit ratio. This way you will get value for your money.
Since online bike insurance skips middlemen fees and infrastructural costs, insurers save a lot. Consequently, policies are offered at reasonable rates online.
Online bike insurance is more convenient as it does not require any travelling. You can buy/renew bike insurance online from the comfort of your home.
Currently, the lowest-priced bike insurance available for TVS iQube electric scooters is Third-party Bike Insurance. However, it only covers third-party liabilities. It does not cover the expenses incurred by the insured electric scooter due to an accident. That is why we recommend buying Comprehensive Bike Insurance. Under this plan, accidental damages to the insured bike are also covered. Also, add-ons can be selected if you desire more coverage.