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Bike Insurance Plans
Mahindra Bike Insurance
Part of a conglomerate that’s worth more than USD 19 billion – the Mahindra Group, Mahindra Two Wheelers Limited (MTWL) was established in the year 2008 by acquiring all the business assets of Kinetic Motor Company Limited. Another significant move by the two-wheeler manufacturing giant was its 51 percent stake acquisition in Peugeot Motorcycles (PMTC), which is a part of the Peugeot S.A. (PSA) Group based out of France.
Mahindra bike insurance is a legal contract or agreement between your insurance company and you, the Mahindra bike owner, that protects and indemnifies you against any financial or legal risks concerning any damages caused to a third party because of your Mahindra bike, as well as saves you from the financial burden of damages, accidents, or thefts of your Mahindra bike.
Quick Glance At Mahindra Two Wheelers Limited
|Company Name||Mahindra Two Wheelers Limited|
|Year of Establishment||2008|
|Parent Company||Mahindra & Mahindra|
|Managing Director||Anand Mahindra|
|Number of Employees||300+|
Top 5 Mahindra Bike Models To Keep Your Passion Going
- Mahindra Mojo 300 – A bike with very unique features compared to other models launched by Mahindra, the Mahindra Mojo 300 comes in four color variants – Ruby Red, Red Agate, Garnet Black, and Black Pearl. It is powered by a 294.72cc BS6 engine that can develop a power of up to 25.37 bhp and a torque of up to 25.96 Nm. The front and rear disc brakes along with the anti-lock braking system make it a safe option for long-distance travel.
- Mahindra Mojo XT 300 – Truly a masterpiece worth the wait is the Mahindra Mojo XT300. This touring motorcycle is sure to give you the ultimate thrill of riding with a 300cc liquid-cooled, single-cylinder engine pumping power down its veins. It has a large fuel tank capacity of 21 liters, along with upside-down forks, front and rear disc brakes, Pirelli tires, dual exhausts, mono-shock suspension, and a relaxed riding position, making it the perfect companion for a long haul.
- Mahindra Centuro – Mahindra announced its entry into the premium commuter segment with the launch of the Mahindra Centuro in 2016. With never-seen-before specifications and features, the Mahindra Centuro offers a lot more than the asking price. The motorcycle comes with a mileage of 85 km/ liter and a 106cc engine that can develop a power of 8.4 bhp and a torque of 8.5 Nm.
- Mahindra Centuro NXT – Launched in four beautiful color variants – blue, red silver, and grey, the Mahindra Centuro NXT comes with improved fuel efficiency, ergonomically designed seating, and solid handling compared to its contemporaries. It has a 106cc MCi-5, single-cylinder engine that can develop a power of up to 8.5 Bhp @ 7500 rpm and maximum torque of 8.5 Nm @ 5500 rpm.
- Mahindra Centuro Rockstar – Similar to other Mahindra Centuro models, the Mahindra Centuro Rockstar comes with a 106cc MCi-5, single-cylinder engine. The difference lies in the design and its maintenance-free battery. The bike features bold Rockstar graphics and comes with an electric start, LED lights in the front and rear, alloy wheels, and a handle-mounted choke.
Coverage Under Mahindra Bike Insurance Policy
Most insurance companies offer these basic inclusions as part of your Mahindra bike insurance policy.
- Protection from any liabilities arising due to third-party property damage, vehicle damage, and even injuries or death.
- Damages due to fire explosions, lightning, or self-ignition.
- Financial loss incurred in case of theft of your Mahindra bike.
- Damages and losses due to accidents.
- Liabilities due to damages to third-party property, vehicle, body, or even death.
- Any damages to your Mahindra bike because of natural calamities like earthquakes, floods, storms, etc.
- Any losses or damages to your Mahindra bike due to terrorism or other malicious activities.
- Personal accident cover.
- Covering for any add-ons opted for along with your Mahindra bike insurance plan.
Exclusions Under Mahindra Bike Insurance Policy
Basic exclusion for the bike insurance policy are as follows:
- Wear and tear suffered by your Mahindra bike due to usage.
- Electrical or mechanical damages and breakdowns of your Mahindra bike.
- If the rider was without a valid driving license when the damages or accident took place.
- If the rider was without the influence of intoxication like drugs, alcohol, etc. when the damages or accident took place.
- Damages caused to your personal property because of your Mahindra bike.
- For any other situations that are not included in the policy document.
Opting for these add-on covers along with your Mahindra bike insurance policy can give you extra protection and benefits:
- Zero Depreciation Cover – This insurance cover helps you protect the insured value of your Mahindra bike by removing the bike’s depreciation from the claim settlement amount.
- Key Protect Cover – If you lose or damage the keys of your Mahindra bike, this add-on cover will help cover the cost of a replacement key.
- Bike Engine Protect Cover – This insurance add-on cover offers financial protection against any damages to your Mahindra bike engine.
- Outstation Emergency Cover – With this insurance cover, you get financial protection of up to a fixed amount for any damages to your Mahindra bike during an outstation journey.
- Roadside Assistance Cover – In case your Mahindra bike suffers a sudden breakdown, you can call for emergency roadside assistance anytime and anywhere with this add-on insurance cover.
- Personal Belongings Protection Cover – This insurance add-on cover protects you from financial losses incurred due to theft or damage to your personal belongings kept in your Mahindra bike.
- Consumables Cover – This insurance add-on covers the cost of consumables for your Mahindra bike like engine oil, lubricants, etc.
Choose Your Mahindra Bike Insurance Plan Wisely
You can choose from two different types of plans while deciding on an insurance policy for your Mahindra bike. The plans differ from each other in terms of coverage and benefits that are offered under each. The two Mahindra bike insurance plans are:
- Third-party Liability Policy – As per the laws stated under the Indian Motor Vehicles Act, 1988, you cannot ride your Mahindra bike on Indian roads without third-party liability insurance on your bike. A third-party insurance plan protects you, the bike owner, from any financial and legal implications in case of an accident or damage to a third party’s property because of your Mahindra bike. However, the losses and damages to the insured bike are not covered under this plan.
- Comprehensive Cover – The comprehensive insurance policy covers a lot more than just third-party liabilities if any. Under the comprehensive Mahindra bike insurance plan, you can protect yourself from any third-party liabilities as well as seek financial protection against damages to your Mahindra bike because of accidents, natural calamities, thefts, loss of personal goods during the accident, etc.
Third-Party Bike Insurance vs Comprehensive Bike Insurance
The main difference between the third-party and the comprehensive insurance policies is the coverage offered under each. Before you can buy your Mahindra bike insurance policy, it is important for you to know of all the differences between the two plans. Let’s have a look at them below.
|Comprehensive Mahindra Bike Insurance Policy||Third-Party Mahindra Bike Insurance Policy|
|This plan can offer you holistic coverage including damages to your Mahindra bike as well as any third party who has suffered damages because of your Mahindra bike.||This plan only insures you against damages to a third party and their property due to your Mahindra bike.|
|Under the comprehensive plan, you can avail a wide range of add-on covers like No-claim Bonus Cover, Key Protection Cover, Zero-Depreciation Cover, Consumables Cover, etc.||Under the third-party liability policy, you can avail of only Personal Accident Cover.|
|It is recommended to buy a comprehensive policy if you require complete coverage for your Mahindra bike, along with the available add-on covers.||It is recommended to buy a third-party liability policy if you use your Mahindra bike very rarely or the bike is very old.|
|This plan is more expensive because of its benefits and coverage.||This is the cheaper option of the two and is the minimum requirement by the law.|
Comparing Different Insurance Plans Online Is A Must
Apart from the running and maintenance costs involved, owning a bike is not without risk of damages and financial losses. Therefore, you must have an insurance policy on your bike to protect yourself from these unforeseen circumstances and losses. However, buying insurance for your bike should not be an impulsive or hasty decision. Here’s why taking your time to research different policies and plans offered by several companies can be a very good idea:
- Searching for plans and related information online is easy and convenient.
- Helps you make a well-informed decision by comparing the features, benefits, and offerings of different insurers.
- You can compare the inclusions, exclusions, add-ons, etc., of different policies to choose the one that gives you the most at the best price.
- You save yourself from hearsay or impulse buying.
- You can choose the offerings and the premium of the company that suits you.
- You are well-versed with the terms and conditions offered by different insurers and compare against those of others to check for any red flags.
- You can get yourself some great deals and discounts online.
Factors You Must Consider While Comparing Mahindra Bike Insurance Plans Online
While comparing Mahindra bike insurance policies offered by different companies online, here are the most important factors you need to consider:
- Insurance coverage
- Insured’s declared value of your Mahindra bike
- Add-ons offered
- Claim process
- Claim settlement ratio
- Customer service facility
- Garage network
- Inclusions, exclusions, etc.
Buying Mahindra Bike Insurance With Probus Is A Smart Choice
Buying the right insurance policy for your bike is as crucial a decision as buying the right bike. Probus understands the depth of this and is hence, geared towards making all the necessary information available to you at the right moment. Especially for Mahindra bikes, you can end up losing a lot of money on damages and repairs because of their regular and frequent usage. The aim is to make your dream of owning and riding your Mahindra a safe and stress-free one. Here are some of the reasons why Probus bike insurance should be your first choice:
- Compare Different Plans and Offerings – On the Probus platform, you can compare the plans and offerings by different vendors before making a choice of which one is right for you and your Mahindra bike.
- Free Premium Calculator – This is an online free tool on the Probus website which shows you a close approximation of the premium you can expect to pay each vendor.
- Expert Guidance – The team of experts is always available on call, message, or email to help you with your insurance decisions and to clarify any doubts you may have regarding the policies and policy documents.
- Claim Assistance – You will always have the support of our super-efficient claim assistance team, who can guide you with claims. The team helps you prepare all the necessary documentation before submitting them for a claim.
What’s The Mahindra Bike Insurance Online Renewal Process?
You can renew your Mahindra bike insurance online with Probus, anytime and from anywhere in three simple steps:
- Log into the Probus website.
- Click on renewal on the homepage.
- Then click on motor insurance and select the insurer.
- Enter details regarding the policy like policy number and expiry date.
- Verify all the policy details and check the premium.
- Make the premium payment online.
How Can A Claims Filing Team Help You?
The claims filing team is important while filing for a claim on your Mahindra bike insurance because:
- You can get all the necessary information regarding filing your insurance claim and answer any queries you may have.
- They provide you with full support in preparing the necessary documentation while filing the claim.
- The claims assistance team knows the procedures and protocols involved in filing claims very well. This will make your claim process quicker and hassle-free.
Mahindra Bike Insurance Premium Table
Understanding the premium on the insurance policy for different models and plans helps you make a more informed decision about which Mahindra bike to purchase as well as which policy to buy. With Probus’ online premium calculator, you can compute the prices for various plans effortlessly.
|Mahindra Bike Model||Model Variant||Insured Declared Value (IDV)||Premium|
|Mahindra Mojo||295cc||₹ 1,05,477||₹ 2,529|
|Mahindra Mojo XT 300||Standard 295cc||₹ 1,48,642||₹ 3,003|
|Mahindra Centuro||N1 107cc||₹ 36,194||₹ 1,239|
|Mahindra Centuro||XT BS7 107cc||₹ 40,767||₹ 1,717|
|Mahindra Centuro Rockstar||107cc||₹ 40,518||₹ 1,326|
*Disclaimer: The insurer used for this calculation is Royal Sundaram Two-Wheeler Insurance. The place of registration used to calculate these premiums is Delhi and the year of purchase used is 2020. Based on your specifics, the rates may vary.
If my Mahindra bike insurance has expired, how long would it take to renew it?
Most frequent questions and answers about Mahindra Two Wheeler Insurance
Renewing your Mahindra bike insurance policy using Probus’ digital platform is quick, paperless, and easy. You can renew your policy within 5 minutes online!
Most Mahindra bike owners definitely go for the zero-depreciation cover, no-claim bonus, and consumables cover among the other add-ons.