Royal Enfield Electra Insurance
Royal Enfield Electra Insurance
Royal Enfield is a motorcycle manufacturing company with its headquarters in India. Also famed as bullets, Royal Enfield bikes are often the first choice of adventurers who love to navigate through the Indian mountains.
If you are also an adventure enthusiast who is planning to buy a Royal Enfield Bullet Electra bike, then go ahead. But before that, we recommend you buy a two-wheeler insurance policy to protect it against damages during an unforeseen event. Powered by a Unit Construction Engine (UCE), Royal Enfield Bullet Electra offers the ultimate riding experience.
Talking about insurance policy for bikes, according to the Indian Motor Vehicles Act, you must own at least a third-party bike insurance policy that provides you basic coverage against the third party’s liabilities incurred due to an accident with your bike. For, if you are riding a bike without a valid insurance cover, it may attract a fine of ₹2,000 and/or imprisonment of up to 3 months, and ₹4,000 for repeated offences.
But keep in mind that the mandatory third-party insurance policy covers you only against the injuries caused to a third party person or damages caused to their vehicle. While a comprehensive policy covers not only the third party’s liabilities but also damages sustained by your bike and injuries borne by you. For more information, visit the Tata AIG website and compare a range of insurance products to zero in on one that goes well with the beauty that Royal Enfield Bullet Electra is.
Purchase or Renewal of Royal Enfield Bullet Electra Bike Insurance via Tata AIG
Whether you have to purchase or renew your Royal Enfield Electra 350 insurance policy, follow a few steps and get it done through our quick and easy online process:
- Browse through the Tata AIG website and head to the ‘Bike Insurance’ page.
- Input your bullet’s registration number. Then, click on the ‘Get Price’ tab for a new policy, or select ‘Renew’ for Royal Enfield insurance renewal.
- As our bike insurance calculator will fetch all the relevant details of your bullet, kindly confirm them.
- Now, opt for a desired Insured Declared Value (IDV).
- Submit the policy form along with the relevant claim information if you raised a claim in the past; else, you may avail of a No Claim Bonus (NCB) discount.
- You may also include add-on covers of your choice for additional coverage.
- Once you do that, your screen displays the premium amount, i.e. your Royal Enfield Electra insurance cost. Kindly make the payment via available digital payment modes.
- As soon as we receive your payment, a soft copy of your bullet’s insurance plan will be sent to your registered email ID.
- You may use this Royal Enfield bike insurance copy to enjoy complete protection against future damages to your bullet as and when required.
Royal Enfield Insurance Price – Your Premium Amount
The premium of a two-wheeler is basically determined on the basis of its variant, policy type, choice of add-ons, residential city, No Claim Bonus (NCB) discount (if applicable), and the Insured Declared Value (IDV).
If you choose a mandatory third-party two-wheeler insurance policy for your Royal Enfield Bullet Electra, the insurance cost will be based on the engine’s cubic capacity. The premium rate for a third-party policy is preset by the Insurance Regulatory and Development Authority of India (IRDAI) on an annual basis. However, if you opt for a comprehensive policy for your bullet, the Royal Enfield insurance price will be determined by the aforementioned factors. And, one of the primary factors is the IDV (Insured Declared Value) which is the prevailing market value of your bullet.
The insurance cost for a comprehensive policy for Royal Enfield can be somewhere between ₹500 to ₹18,000. You may also use the Tata AIG bike insurance calculator to evaluate the premium cost for your bullet at your convenience.
Royal Enfield Bullet Electra Insurance Add-ons by Tata AIG
Though you may not enjoy additional coverage while opting for a basic third-party insurance cover, you may include some add-on covers in case of a comprehensive policy, and thus, boost the policy cover even further. Here is a list of some of the add-on covers offered by Tata AIG for your Royal Enfield bullet insurance.
- Zero Depreciation Cover: This add-on cover lets you claim the entire policy amount in case of any damage without deducting your bullet’s depreciated value at that time.
- Return to Invoice Cover: It allows you to enjoy full compensation as per the last invoice value of your Royal Enfield bullet.
- Additional Third-party Cover: If you opt for an own-damage insurance policy for bike, then this cover can help you pay for liabilities towards the third party in case of an unforeseen event.
- Roadside Assistance Cover: This add-on cover works as a boon when you are in the middle of a road and want immediate breakdown assistance for mechanical or electrical repairing, dead battery, flat tyre, fuel requirements, etc.
- Consumables Cover: This additional cover is meant to cover you against loss and damages due to your bike’s consumables in an accident.
- Emergency Medical Expenses Cover: Opting for this add-on may provide you coverage for emergency medical expenses incurred during an accident.
- Additional Personal Accident Cover: With this add-on cover, the bike owner or driver along with a companion can receive the benefits of an insurance plan in case they lose their eyesight, or limbs, or face any other type of disablement.
Before including any add-on cover in your Royal Enfield insurance policy, it’s recommended to evaluate your premium cost and bike’s requirements. Add-on covers do provide extra coverage, but they charge an additional premium, subsequently increasing your Royal Enfield Electra insurance cost.
Things Covered and Not Covered Under Royal Enfield Bullet Electra Bike Insurance
|Things Covered Under Tata AIG’s Bullet Electra Insurance||Things Not Covered Under Tata AIG’s Bullet Electra Insurance|
|Any loss caused to the bike owing to theft or total loss caused by a robbery.||Any loss induced by use over time and regular wear and tear, including mechanical and electrical breakdowns.|
|Any damage caused to the Bullet Electra from explosions, self-ignition fires, lightning etc.||Any damage caused when the Bullet Electra was being employed for commercial reasons. Also, if the damage is a result of adventure sports, racing, speed trials, etc.|
|Damage to the insured Bullet Electra due to an accident involving a third-party automobile and damage to someone else's assets or injury to a third-party person, which results in death or impairment.||Damage or loss of the insured vehicle if the rider was drunk, not wearing a helmet at the time of the incident or if they do not have a valid driver's licence.|
|Any losses caused to the bike because of human actions of terrorism, defacing, riots and more.||Personal accidents or own damage will not be covered if the person is under a third-party bike insurance policy.|
|Any degree of harm caused to the Bullet Electra because of natural disasters, including cyclones, earthquakes, floods, etc.||Any damage to the insured Bullet Electra when it is not in the geographical location mentioned in the policy (i.e., outside India).|
|Any customisations made to the plan will be regarded when you make an insurance claim.||Any damage was caused to the bike because of a robbery in your residence, but the bike was not stolen.|
|Personal injury coverage of up to ₹15 lakhs for the bike policyholder in the event of an accident. If the owner-driver passes away in the accident, the policyholder's nominee will get the sum insured.||Any war-like situation in the country or an attack caused damage to the insured bike.|