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Whether you own a commuter bike or a high-end sports bike, two-wheeler insurance is a must. A bike insurance policy not only ensures that you comply with the rules but also protects you against financial losses if your motorcycle is damaged. Do you own a TVS Sport bike or plan to buy one? Then read on as this article will provide you with all the information you need to know about TVS Sport bike insurance.
Below are the advantages of buying online two-wheeler insurance for your TVS Sport bike:
When you buy two-wheeler insurance online, there is no need to fill forms or complete tedious documentation. Everything happens online, and the entire purchase process is digital. You can visit the ACKO website/app and enter three details: bike make/model, purchase year and previous policy details to purchase bike insurance online without any paperwork.
You need not visit any agent/middleman or insurer’s office if you opt for online two-wheeler insurance. All you have to do is log on to ACKO’s website or app from anywhere in the country to purchase online 2-wheeler insurance for your TVS Sport bike.
When you buy online insurance for your TVS Sport bike, there are no hidden charges. The purchase/renewal process is transparent, and there is no intervention from any agent/middleman. You only pay for the insurance plan and services when you buy bike insurance online.
There are mainly two types of two-wheeler insurance plans for TVS Sport: Third-Party Bike Insurance Plan and Comprehensive Bike Insurance Plan. Below are the coverage details of both the 2-wheeler insurance plans:
It is mandatory to purchase at least a Third-Party Bike Insurance Policy to meet the legal requirements. The insurance plan covers damages to third-party property or life. It is a basic two-wheeler insurance plan for your bike, and it does not cover damages to your TVS Sport. A Third-Party Insurance Plan provides only Third-Party Liability (TPL) cover.
As the name suggests, a Comprehensive Two-wheeler Insurance Plan provides all-round coverage. The insurance plan offers Third-Party and Own Damage cover. That means the policy covers damages to your bike caused due to an accident, fire, or man-made/natural disasters. The Comprehensive/Package policy also covers losses such as theft or total loss of the insured bike. Moreover, you can also opt for add-ons to enhance the coverage of the insurance plan.
TVS Sport Comprehensive Two-wheeler Insurance provides coverage against the following:
Loss or damage to the motorcycle due to a fire outbreak or explosion.
Total loss or theft of the insured motorcycle.
Loss or damage to third-party property/life.
Damages to the motorcycle caused due to natural disasters such as floods, cyclones, earthquakes, etc.
Damages to the motorcycle caused due to man-made disasters such as vandalism, riots, etc.
Loss or damage to the motorcycle due to an accident.
TVS Sport bike insurance does not provide coverage against the following circumstances:
Damages to the motorcycle due to wear and tear.
Loss or damage to the motorcycle when riding under the influence of intoxicating substances.
Damages to the motorcycle due to mechanical or electrical failure.
Loss or damage to the motorcycle while riding without a valid driving licence.
Any add-on cover which is not purchased.
Personal Accident cover.
Loss or damage to the motorcycle due to improper handling or rash riding.
Add-on is nothing but an individual cover that enhances the coverage benefits of a Comprehensive Two-wheeler Insurance Policy. You can opt for add-ons when purchasing/renewing the bike insurance plan. Below are the available add-ons for TVS Sport bike insurance:
Engine Protection Cover
Roadside Assistance Cover
Zero Depreciation Cover
Outstation Emergency Cover
Key Protect Cover
Personal Belongings - Damage/Theft
You can consider buying the below add-ons for all-round coverage for your TVS Sport bike:
Engine Protection Cover: The engine is one of the most expensive components of the bike. Your bike can suffer engine damages due to an accident or natural disasters such as flooding, etc. Bike insurance does not cover such losses. But, the Engine Protection add-on protects you against financial losses incurred due to damage to your motorcycle’s engine.
Consumables Cover: The bike insurance plan does not cover the costs of consumable items such as lubricants, gearbox oil, nuts and bolts, screws, etc. Each time your bike is repaired, you will be charged for consumables. However, the Consumables Cover add-on covers the expenses incurred due to the use of consumable items.
Roadside Assistance Cover: Imagine your bike breaks down in the middle of the road, and you are stranded without any assistance. The Roadside Assistance or RSA add-on cover can come to your rescue in such situations. The RSA add-on provides 24x7 assistance within 100 km from your place of residence. The Roadside Assistance cover provides towing services and vehicle repair services.
Below are the reasons why you should opt for ACKO Bike Insurance Policy for your TVS Sport bike:
Buying bike insurance from ACKO is quick and simple. Log on to the website/app, enter your vehicle and personal details, select your insurance plan and pay online. That’s it. The two-wheeler insurance policy will be instantly sent to your email address. There is no waiting or filling of forms. Get your policy instantly.
ACKO offers instant on-account claim settlement for minor damages. If the damages are severe and if any parts need to be replaced, you can get it done via any of ACKO’s network garages.
There is no pre-inspection when buying ACKO two-wheeler insurance for your TVS Sport. Even if your previous insurance plan is expired, there is no need for vehicle inspection. You can buy the insurance plan instantly without the hassle of getting your vehicle inspected.
The tech-enabled, paperless digital insurance saves operation costs, and ACKO passes on this saving to the customers in the form of low-premium bike insurance plans. You can get the insurance cost quote and compare different plans before making your purchase.
Filing a two-wheeler insurance claim at ACKO is easy, and it takes only a few minutes. There is no documentation, and you do not need to fill lengthy forms. Follow the steps below to raise a bike insurance claim at ACKO:
Step 1 - Log on to the website ACKO.com or download the ACKO smartphone app.
Step 2 - Log in to your account via an OPT sent to your registered mobile number.
Step 3 - Click the ‘Claim’ option on your policy card.
Step 4 - Enter the details of the damage.
Step 5 - Upload the pictures of the damaged two-wheeler.
Step 6 - For minor damages, you will receive an instant on-account claim settlement.
Step 7 - In the case of severe damages, ACKO’s two-wheeler insurance expert will get in touch with you to process the claim.
Below are answers to some of the most commonly asked questions about TVS Sport bike insurance:
No. You need not upload any documents while buying two-wheeler insurance online from ACKO. Visit the ACKO website/app, fill in the vehicle and personal details, choose your insurance plan and make the payment online. That’s it. Your two-wheeler insurance policy will be instantly sent to your email address. There is no paperwork or filling of forms.
Yes. You can renew bike insurance online, and the process is similar to buying a new insurance plan. Log in to your ACKO account via the website or the app. Select the policy renewal option and choose your insurance plan and add-ons. Make the payment online, and your two-wheeler insurance policy is renewed. It only takes a few minutes to renew your ACKO bike insurance policy.
No. Personal Accident (PA) cover is not included in a bike insurance plan. You have to purchase the Personal Accident cover separately when buying/renewing the two-wheeler insurance plan. Along with a third-party insurance cover, the PAC cover is also mandatory to comply with The Motor Vehicles Act, 1988. You need to buy only one PA cover even if you own multiple vehicles.
No. You cannot opt for add-ons for a Third-Party Two-wheeler Insurance Policy. Since the Third-Party Policy does not come with an Own Damage cover, you cannot buy add-ons. Add-ons enhance the coverage benefits under the Own Damage cover. Only a Comprehensive Bike Insurance Plan allows you to buy add-ons.
Yes. If you have purchased a Comprehensive 2-wheeler Insurance Plan, such losses are covered. A Comprehensive Policy covers damages to your bike caused due to natural disasters such as floods, earthquakes, cyclones, etc. If your bike is damaged due to flooding, you can raise a claim against the Comprehensive Bike Insurance Plan. But if you have opted for a Third-Party Insurance Plan, then damages to your bike are not covered.
NCB or No Claim Bonus is the discount awarded by the insurer for making no claims during the previous policy period. You can avail of an NCB discount when renewing the insurance policy. NCB reduces the insurance premium, and the percentage of discount depends on how many claim-free years you had. The NCB discount goes up to 50% if you have made no claims for five consecutive years.
Add-ons enhance the coverage benefits of the Comprehensive Two-wheeler Insurance Policy. You can consider buying Engine Protection Cover, Roadside Assistance Cover, Consumables Cover and Zero Depreciation Cover add-ons for your TVS Sport bike. For the full list of available add-ons, click here.
Yes. You can buy 2 or 3-year long-term bike insurance plans from ACKO. By opting for a long-term two-wheeler insurance plan, you save on the premium, and there is no hassle of yearly renewals. You can opt for a long-term plan while buying/renewing the Third-Party/Comprehensive Bike Insurance Policy.
Yes. You can adjust the IDV (Insured Declared Value) as per your needs while buying Comprehensive 2-wheeler insurance from ACKO. While selecting the insurance plan, you can find an IDV slider, which suggests the optimum IDV for your bike. You can move the slider and adjust the IDV as per your requirement. Note that you don't have the option of adjusting IDV if you are buying a Third-Party Bike Insurance Plan.
An expired bike insurance policy will not provide any coverage benefits. The insurer will not be liable for any damages caused to your bike or third-party property/life if the insurance plan lapses.
Also, it is an offence to ride your bike with an expired two-wheeler insurance policy. You may also lose out on benefits such as NCB discount if you fail to renew the policy within 90 days from the date of expiry. You might end up paying an increased premium while renewing an expired policy due to additional charges. So, always renew the insurance plan before it expires.
IRDAI Registration No: 157
Category: Non-Life Insurance
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