Avon Bike Insurance
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Avon electric bikes are great assets. They save money spent on fuel and are good for the environment. You can safeguard this beneficial asset by insuring it with a wide-ranging plan. The right insurance plan purchased from the right insurance company will help you avail timely services related to claim settlement. Avon Bike Insurance can result in savings regarding repairing a damaged bike. Plus, third-party liabilities arising out of an accident shall also be covered. Want to know how? Read this article for details.
Importance of buying Two-wheeler Insurance for Avon Bikes
Listed below are three benefits of insuring your Avon Bike with a Comprehensive Plan.
1) Liability Coverage
A Comprehensive Bike Insurance Plan for your Avon e-bike offers a Third-party Liability cover as well. With this cover, your insurer will handle third-party liabilities arising because of the insured bike. This way, in case of unfortunate mishaps with third parties, you have the insurer by your side to offer guidance and financial support.
2) Repair Damages Cover
A Comprehensive Plan also offers the Own Damage cover. Thus, if your Avon bike is damaged because of the instances mentioned in the inclusions of the policy, the insurer will compensate you for the losses as per the policy’s terms and conditions. This can save a lot of money as repair costs can run into thousands.
3) Peace of Mind
It is satisfying to know that a bike insurer will take care of things in troubling times. This satisfying feeling is because the policy offers peace of mind. You can focus on riding and if there’s a mishap, the insurer is by your side to guide you through it. And provide the required financial assistance.
Insurance Plans for Avon Bikes
If you want extensive coverage, then you should opt for the Comprehensive Plan. If you want to lower your insurance expenditure, you can go for the basic Third-party two-wheeler Insurance. However, it can mean a higher expenditure for bike repairs as this plan does not cover Own Damages.
The Third-party Plans are priced by the Insurance Regulatory and Development Authority of India. They are easy on the wallet. A Comprehensive Plan, which includes the basic plan, costs more as it comes with the Own Damage cover and is free to be priced by the insurance companies. Also, with this plan, you get the option of picking add-on covers.
What’s Covered in Avon Bike Insurance (Inclusions)
Purchasing Avon two-wheeler insurance will ensure you are financially secure if your bike is involved in an accident and needs expensive repairs. A Comprehensive Plan offers the following inclusions. These are the situations wherein the insurer will help you out.
Insurance cover in situations where there is a loss to a Third-party.
Insurance cover in a situation where the rider is permanently disabled or is dead.
Insurance cover in a situation where the Avon bike is damaged by natural calamities.
Insurance cover in a situation where the Avon bike is damaged by vandalism, riots, etc.
Insurance cover in a situation where the Avon bike is stolen.
What’s Not Covered in Avon Bike Insurance (Exclusions)
You might know all about inclusions but you must not disregard the exclusions. These are situations where the insurance company will not extend the insurance cover for the Avon bike. Here are some common exclusions.
No settlement of claim if bike insurance was expired at the time of damage.
No settlement of claim if the bike was wilfully damaged.
No settlement of claim in the case of fraudulent activities.
No settlement of claim in the case where the terms and conditions are not followed.
No settlement of claim for Consequential Damage.
Add-ons for Avon Bikes
You can buy add-on covers for your Avon bike along with a Comprehensive Plan. They will increase your payable premium; therefore, you must be cautious while picking them. Include only those that you feel will be worth the premium. Here are some useful e-bike insurance add-ons.
Zero Depreciation Cover: Beneficial for receiving better claim pay-out.
Pillion Rider Cover: Beneficial for Pillion Rider in case of a bike accident.
No Claim Bonus Protect: Beneficial for protecting accumulated renewal bonus in case of a claim.
Invoice Protection: Beneficial for receiving the invoice value in case e-bike is totally damaged.
Claim Process
Digital-first insurers offer a Cashless Claim process. Insurers have tie-ups with garages when it comes to claim settlement. Technology helps to streamline things between insurers and the garage and the Cashless Process is completed smoothly. Here there is a minimum intervention on your part. You simply have to lodge a claim and take the damaged bike to the garage. The rest is handled by the insurer. If the repair costs exceed the insurance cover, you have to pay the corresponding amount to the garage and ride the repaired bike home. Here’s a step-wise process. Note that it can vary across insurers.
Step 1: Log in to the website or the app to register a claim. You can call or email the insurer as well.
Step 2: Share details, documents, images, etc. as per the requirements.
Step 3: Communicate with the assigned claims executive and agree on the claim amount.
Step 4: Pay the garage for extra repairs or the balance amount.
Step 5: Take your repaired bike home.
There’s another way to go about settling bike insurance claims. It is known as the Reimbursement Process. Here, you have to settle the repair bill with the garage and get appropriate receipts. Once you have the receipt and other required documents, you need to raise a claim application with the insurer by submitting those receipts and documents and get the repair amount reimbursed. Compared to the Cashless process, the Reimbursement Process is lengthy, tedious, and less preferable.
Frequently Asked Questions
This section features some common concerns of people about bike insurance. If you have specific questions that are not resolved via this article, please contact the insurer’s customer care team for further assistance.
Commonly Asked Questions About Avon Bike Insurance
I heard that buying insurance can be expensive? Is that the case for Avon e-bikes as well?
If you are on a tight budget then you can try to research a bit online, compare plans, and buy a decent cover at an affordable price. You can just opt for the inexpensive Liability-only policy but that will not offer a wide-ranging cover. A Comprehensive Plan from an online insurer will be budget-friendly.
Is the e-bike insurance cover restricted to a particular geographic location such as a city or a state?
E-bike insurance covers the entire country and is not restricted to a city or a state unless it is clearly mentioned in the terms and conditions.
I own an electric car and I am planning to buy an electric bike as well. Since both are electric, will one cover suffice or will I be required to buy a separate plan for the e-bike?
Since you already own an electric car, you already must have an insurance policy for it. For the e-bike, you will need to buy a separate cover.
Does a Comprehensive Cover offer insurance for the damage caused by an angry mob?
Acts of vandalism and rioting are usually covered by the Comprehensive Plan. Please confirm the same by checking out the features of the Policy Wordings of the plan before buying the same.
Do I need to visit the Regional Transport Office to renew my electric bike’s insurance policy?
There’s no need to visit a Regional Transport Office to renew your electric bike’s insurance policy. You can renew it from wherever you like and whenever you like via an online insurer. For example, you can visit Acko Two-wheeler Insurance to renew your bike’s policy.
Does a Third-party Policy offer insurance coverage if I accidentally damage a road-side shop with the insured electric bike?
If the road-side shop has all the legal papers then you might be liable to pay for the damages. As a Third-party Policy offers liability coverage, such expenses should be covered. However, the claim settlement will depend upon the details associated with the incident.
Is there a cover to insure my bike against theft?
A Comprehensive Bike Insurance Plan’s coverage includes coverage for a stolen bike. You will be required to lodge a police complaint. If the police are unable to find the bike, they will give you a No Trace Report, which you need to submit to the insurer to receive the bike’s Insured Declared Value.
Is it possible to get a discount on the Liability-only policy if I instal anti-theft devices on my bike?
The discount associated with installing anti-theft devices can be availed if you have a Comprehensive Plan. Such a discount is not possible for a Third-party Plan.
Is it okay if I do not receive the physical Policy Document via post and instead take a print out of the online policy?
An online policy is a valid insurance document. It is okay if you do not receive the physical copy, some insurers do not even send one.
Can I purchase bike insurance directly from the bike company?
Bike companies do not offer insurance. You need to buy the policy from a certified insurer.
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