CFMOTO Bike Insurance

CFMOTO bikes are attractive, performance-driven, and durable. If you own such a bike or are thinking of purchasing one, then do factor-in the supplementary costs associated with it as well. For example, you will be required to purchase a CFMOTO bike insurance policy along with the two-wheeler. This is a mandatory requirement in the country. No to insurance means Yes to penalties.

Apart from the compulsion associated with the insurance policy, you should look at purchasing a suitable insurance plan from a financial cushioning perspective. CFMOTO bike’s spare parts are costly. Repairing the damage to a CFMOTO can be expensive. Here's where a wide-ranging policy can come to your rescue and save you from spending an enormous amount on repairing the bike. This article will tell you all you need to know about buying, renewing, and claiming CFMOTO bike insurance online.

If you insure your CFMOTO bike with a Comprehensive Plan, you shall benefit from the following policy inclusions. Note that the exact inclusions can vary from one policy to another and it is suggested to read the fine print of the respective policy for specific details. Here’s a generic list of inclusions.

Insurance companies have to abide by certain rules when it comes to settling claims. They verify the claim applications and check for fraudulent activities. They have a look at the instance for which the claim is raised and check if it is a part of the above-mentioned inclusions, and if it is not part of the below-mentioned exclusions. Exclusions are instances where the insurer will not be able to settle the claim. The exact list of exclusions can vary, here’s a generic list for an overview.

A Comprehensive Policy has lots of advantages over the basic, Third-party Plan. However, it does get a bit generic. To tackle this issue, you have the option of choosing add-ons. Add-ons are small, additional insurance covers. You can use them to add a touch of personalisation to your bike insurance policy.

Usually, bike insurers offer a variety of add-ons to choose from. Not all insurers might offer all add-ons. But most of them have a sizable bunch. You need to make sure the add-on you are thinking of buying adds value to your cover. Otherwise, you will end up spending a lot on insurance premiums. Here’s a list of prominent add-ons.

Just as a bike owner/rider has a Personal Accident Cover, the pillion rider can also have one with this add-on.

The bike’s value reduces at is ages and it is reflected in claim settlement. However, with this add-on, the depreciation amount shall not be considered while settling claims.

In total loss (bike theft or major bike accident) the insurer settles the claim by paying the Insured Declared Value. With this addon, you can receive the invoice value.

You can safeguard your No Claim Bonus (NCB) benefit with this add-on. Thus, you can raise a claim and still benefit from the applicable discount while renewing the policy.

Major damages to the engine shall be covered with this add-on. Such damages are usually not covered by a Comprehensive Plan.

Simply buying insurance from an insurer that offers it in a convenient way is not enough. The real test of this convenience is at the time of settling claims. The smoother the claim settlement process the better. With digital-first insurers entering the industry, the claims process has become quicker. It also varies from company to company. Some might offer a website-based process, others might prefer an app or a calling method. Here’s a generic claim process that is followed in case of claims.

Step 1: Contact your insurance company and register the claim.

Step 2: Share details.

Step 3: Follow the process regarding verification and documentation.

Step 4: Be honest with the claim inspector during the inspection process if any.

Step 5: Settle the claim by choosing a Cashless or Reimbursement method.