Currently, TVS Motor Company is India’s third largest manufacturer of two-wheelers. Under the two-wheelers, the company manufactures motorcycles and scooters. Founded and established in the year 1911 by the T.V. Sundaram Iyengar, TVS Motor Company presently has an employment base of more than 40,000 people across the sub-continent.
So far, the reputed motor company has four manufacturing units in the country with one operating outside the sub-continent. The three manufacturing units are located in Mysore, Hosur, and Nalagarh. The fourth manufacturing plant is presently located in Indonesia.
Before getting into the details of the insurance policies at TVS, it is important to know the variants of the two-wheelers manufactured by the company. Since the insurance policies vary across models, it is wise to look at the different models of the company.
Generally, variants of the XL and the Jupiter model do not exist. However, there are two variants each of Star and Phoenix. So far as the model Discover is concerned, it has three variants altogether. While buying the insurance policy, it is always advised to enter the precise variant of the automobile.
At the most elementary level, it is important to buy an insurance policy as the concerned TVS two-wheeler is always vulnerable to damage. Therefore, it is always advised to insure the two-wheeler against any kind of catastrophe (natural or man-made).
Apart from these, the vehicle is always susceptible to untoward accidents. In such cases, an insurance policy is of utmost help to cover the financial losses of both the personal owner any third party liable.
TVS insurance policy promises a very comprehensive coverage for the concerned two- wheeler. Apart from this, in case of burglary escapades and thefts, the insurance policy covers the financial losses up to the declared value. Also, in cases when raw funding is not available, TVS insurance has the benefits of cashless reparation through its various network garages dispersed across the country.
The loss incurred due to natural disasters such as earthquakes, cyclones, fire, floods etc.
Losses incurred due to anthropogenic catastrophes such as theft, arson, terrorism, burglary escapades etc.
Bajaj insurance also provides financial cover of up to Rs. 2 lakhs in cases of personal accident involving the driver or the owner of the car.
Third party liabilities also are covered by the Bajaj insurance policy in cases where a third person involved receives any kind of accidental bodily injury.
The important things to remember are very simple and lucid and of great assistance before purchasing any insurance policy. Generally speaking, the TVS insurance policy is split into two categories:
Comprehensive Coverage: So far as comprehensive coverage is concerned, it chiefly covers the financial losses for any third party liable, in cases of theft, road accident, or any other personal accident where the owner or the driver of the vehicle is involved.
Third Party Liability Insurance: It chiefly covers the property damage to any third party involved in the accident. It may be of utmost help in cases of bodily injury to the third person or even incidents of mortality.
So far as the TVS insurance policy is concerned, it covers the following aspects:
TVS insurance policy covers the financial losses incurred due to various natural disasters such as fire, explosion, cyclone etc.
TVS insurance policy covers the total financial loss in cases that involve theft, terrorism, personal accidents, third party liabilities etc
Although TVS insurance policies are helpful in many cases requiring immediate financial cover, it is must be noted that not all petty cases are covered by the policy. The cases include the following:
Basic mechanical glitches such as daily wear and tear or any electrical glitch.
Damaged tyres are not covered by the TVS insurance policy unless the vehicle also is damaged.
Cases of drunken driving are not covered by the insurance policy.
The TVS insurance policy does not cover cases of illegal driving, usage outside appropriate geographical limits, or if the concerned vehicle is used for a reward, hire or carriage of goods.
Yes, very much so. TVS insurance can be bought online. In fact, it always more efficient and more effective to switch to the online policy as it saves a lot of time and money. One can also renew one’s expired policy online through a debit or credit card or even through the very proficient online banking.
It must be strictly noted that vehicle inspection is always mandatory in cases of expiration. One has to first fix an appointment date for the inspection of the concerned TVS bike, or any two-wheeler. However, it is important to note that this may invite a nominal fee. If the insurance company chooses to offer the coverage, the required payment can be made, and the policy got in hand. Only if one is truly very lucky is vehicle inspection not mandatory.
So far as the NCB is concerned, it is important to get the existing bike transferred in the owner’s name within a specified period from the date of transfer of RC. Also, it is important to note that the present owner of the concerned bike or any two-wheeler can carry forward his or her existing NCB (No Claim Bonus) with him or her. He or she can avail of it to seek good premium discounts if a new bike is meant to be purchased in the near future.
In the same way, a new owner will have to earn the bonus amount for each year that is exempt from any claim. So far as the damage premium with NCB is concerned, a maximum of 50% discount can be won on the part of the owner.
Definitely, yes! To enjoy a stress-free experience, it is always advised to avail of a long- term insurance policy. Premiums can be saved; there are no added troubles of annual renewal; extensive paperwork is also considerably limited. Also, the gap in coverage can be avoided since the person concerned is insured for an extended time period.