Complete Guide for Buying TVS Bike Insurance
The name TVS stands for the name of its founder – T V SundaramIyengar. Headquartered in Chennai, TVS is one of the most reputed bike companies and the third largest two-wheeler manufacturer in India. TVS releases more than 4 million two-wheelers every year through all three major two-wheeler categories – Motorcycles, Scooters and Mopeds. Three of the company’s manufacturing plants are located in India and one plant is located in Indonesia. TVS is known for its innovative approach to the vehicle design and environment-friendly products. At the same time, TVS offers powerful engines and easy-to-handle two-wheelers designed for Indian road conditions. However, the traffic and road conditions may give you a hard time in India, which is why you should always opt for bike insurance.
How to buy TVS Bike Insurance
First of all, you need to understand why do you need an insurance policy for your TVS bike? The latest amendments to the Motor Vehicle Act in India has stipulated the fine of Rs. 2000 and/or imprisonment up to 3 months for the first time offenders and if the vehicle owner is found riding an uninsured vehicle for the second time, the fine is Rs. 4000 and imprisonment upto 3 months.
Now, the insurance that we are talking about here is third party legal liability, which only covers the damages caused by your vehicle to the third party properties. These types of insurance do not cover damages to you or your vehicle, for that you need to opt for additional coverage. So, here is the process, how can you buy TVS insurance for your TVS bike.
- Approach the company who provide bike insurance online through their website or through their phone lines to learn more about the specifications of the insurance policy. Or the customers can also submit their contact details and let the insurance company representative call back.
- Read and understand the insurance policy’s terms and conditions. This is very important because the terms and conditions change from company to company. So, you should browse through the same for every company to find the best fit for you and your vehicle.
- Ask for a quote from the insurance policy. The quote will give you a chance to evaluate if the company offers true value for your money. Also, you can see the premium of which plan can fit in your budget and how it is going to impact your financial planning.
- Make a purchase of the insurance policy that fits well to your requirements and budget both. You can make a purchase online as well as offline. For online purposes, you can use your credit card/ debit card/ net banking facilities, if you are applying to Bharti AXA.
- Learn more about the claim procedures and the time duration allowed for filing a claim in different circumstances. Also, you can ask for a copy of the insurance policy document, either a hard copy or soft copy over email, so that you can refer to it anytime you want.