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    • Policy renewals might reduce with the implementation of new rules

      While the increase in the third-party premium has not affected the sales of two wheelers and automobiles, insurers are suggesting that the increase in the costs of the premium might affect the renewal rate of the auto insurance. The Insurance Regulatory and Development Authority of India (IRDAI) has proposed an increase of third-party cover. This increase will be 20 percent for two wheelers with engine capacity ranging between 150 cc and 350 cc and 15 percent four cars. It was made mandatory by the Insurance Regulatory and Development Authority of India for the general insurers in the country to offer long term insurance plans to new car buyers. This combined with an increase in the personal accident cover resulted in the increase of the insurance costs for two wheelers. The increase is estimated to be ranging between 10 percent and 19 percent. This is one of the main reasons for a drop in two wheeler sales. The new rates will mostly be implemented at the start of the month of June. The IRDAI is waiting for comments from the stakeholders and will make the decision accordingly.

      22 May 2019

    • Proposal to increase the third-party insurance premium for four wheelers and two wheelers by IRDAI

      The insurance for third-party insurance policies can be expected to go up as the regulator IRDAI has proposed an increase in the premium rates for the current financial year.

      The Insurance Regulatory and Development Authority of India (IRDAI) has proposed an increase in the third-party insurance premium rates for four-wheelers and below 1,000 cc to Rs.2,120. The rates were pinned at Rs.1,850 earlier. The regulator has also proposed an increase in the premium for cars between 1,000 cc and 1,500 cc to Rs.3,300 as opposed to the existing Rs.2,863 mark. However, no changes have been proposed for the cars with an engine capacity of more than 1,500 cc. The rate for these cars stays pinned to the existing Rs.7,890 mark. IRDAI has also proposed a hike in premiums for third-party insurance for two-wheelers. The changes include a hike to Rs.482 for two-wheelers below 75 cc, as well as, a hike for two-wheelers ranging between 75 cc and 350 cc. The insurance premium for two-wheelers with a capacity of more than 350 cc does not get a hike. The regulator has also proposed a discount in premium rates for electric vehicles.

      21 May 2019

    • Royal Enfield setting up a new plant this financial year

      Royal Enfield is one of the largest premium motorcycle manufacturer in India. The company is now planning to invest Rs.700 crore in the form of capital expenditure for the present financial year. The amount allocated will be spent on constructing a technology centre, developing new products and platforms, and the constructions of the phase-2 of the plant in Tamil Nadu. Close to 8.22 lakh units were sold by Royal Enfield in the last financial year. The production capacity guidance value was 9.25 lakh. This was reduced from the initial target of 9.5 lakh set by the company. Royal Enfield is planning to produce 9.5 lakh vehicles for the 2019-20 fiscal. The current production capacity of the company stands at 90,000 units a month which is close to 10.8 lakh units every year. Building of phase 2 of the plant will help the company produce 25,000 more Royal Enfield bikes every month. This will help increase the production capacity of the company to 13.8 lakh. Sales of the bike reduced by 13% during the January-December quarter. The company is hopeful of achieving a growth rate of 16% this year.

      20 May 2019

    • India Eyed by Blitz for Speedy Electric Motorbikes

      Addressing the need to travel long-distances in minimum time and at a high speed, Belgium-born Raphael Moszynski launched Blitz Motors, an organisation that develops high-speed electric motorbikes, targeted primarily at the corporate sector. The company’s Tel Aviv garage is currently lined up with electric motorbikes for chains such as McDonald’s and Domino’s Pizza. This development and subsequent launch of electric motorbikes has emerged from the need to travel at a high speed and the fact that there are basically no fast electric motorbikes traveling at a high speed. Furthermore, mainstream gasoline-fueled motorbikes take a lot of effort and cost a lot of money for maintenance. The electric motorbikes produced by Blitz Motors are highly efficient and they can reach a speed of 120 kph. They are also capable of driving large distances, way more than a regular gasoline-fueled motorbike. The motorbikes developed by Blitz operate via smartphones, not keys, unlike traditional motorbikes. Even though the high-speed motorbikes are developed in China, their designs are done in Israel, along with the battery production and various other electrical parts. The Israeli company is currently eyeing India to set up shop. They are already done with setting up a distribution model for the local Indian market.

      13 May 2019

    • Digit Insurance Surpassed Customer Base of 2.8 Million

      Digit Insurance is one of the reputed, most popular motor insurance company operating in India, in today’s date. Currently, the company offers motor insurance, jewelry insurance, mobile insurance, and travel insurance, among other types of insurances. The company is believed to sell health insurance to customers very soon. Recently, Digi Insurance announced that its customer base has crossed 2.8 million and has closed close to 35,000 claims with a collection of USD 174 million as premiums in the previous financial year. The company’s hidden trick of the trade is to keep things simple and use technology advancement as an enabler to foster growth and accomplish many milestones. With 174 million as a premium collection for the last fiscal year, the company’s Net Promoter Score (NPS) currently stands at 72%. Furthermore, during the fourth quarter of financial year 2018-19, the company hugely gained a 2% market share in the motor insurance category. Moreover, the company currently has a Claim Settlement Ratio (CSR) of 96% for the private sector, 97% with respect to two-wheelers, 100% for domestic travel insurance, 99% with respect to international travel insurance, and 97% with respect to mobile insurance.

      12 May 2019

    • 2019 Suzuki Intruder launched with a price tag of Rs.1.08 lakh

      Japanese two wheelers giant, Suzuki has recently launched the MY2019 model for their small cruiser, the Suzuki Intruder. The 2019 Suzuki Intruder comes with a price tag of Rs.1,08,162 (ex-showroom, Delhi). It has been launched with a brand-new colour scheme as well – the Metallic Matte Titanium Silver colour.

      The motorcycle is powered by a 155 cc, single cylinder engine that is mated with a 5-speed gearbox. The engine is capable of churning out 14.6 hp of max power and about 14 Nm of peak torque. Although no changes have been introduced in the engine, the motorcycle does get certain updates. Some of these changes are a newly designed gear shifter and a newly designed brake pedal. The company claims that these changes have been introduced to offer better ergonomics on the motorcycle. As a standard fitment, the motorcycle gets a single-channel ABS unit.

    • TVS Scooty Pep+ now available in two new colour schemes

      Celebrating the 25th anniversary of TVS's popular scooter model Scooty Pep+, the company has decided to launch the vehicle in two new colour schemes. The Scooty Pep+ will now be available in red and gold as well apart from its standard line-up of colours like brown, black, blue, purple and pink.

      The scooty Pep+ SBT's new colour scheme is available at a price point of Rs 42,397. The scooters are equipped with synchronized braking technology (TVS' version of combined braking technology). The special edition scooters also feature a 25th anniversary logo on their aprons. Apart from these distinctions, the model has the same features as the previous Scooty Pep+ models. It has the same 87.8cc air ooled, single-cylinder engine that provides 4.9hp and 5.8Nm of torque. One of the lightest scooters in India, Scooty Pep+ weighs only 95 kg and features a compact design.

    • Bajaj Discover 125 and CT100 equipped with CBS

      The ruling that made the Combi Brake System (CBS) and Antilock Braking System (ABS) mandatory has now resulted in bikes being equipped with this new technology. The Bajaj Discover 125 and CT100 have now been fitted with CBS. The prices of the Discover 125 start at Rs.58,000 while the CT100 prices range from Rs.33,352 to Rs.41,787. The Discover 125 is equipped with CBS in both the disc and drum variants. The price of the disc variant is currently Rs.61,500 while the price of the drum variant is Rs.58,000. This is an increase of Rs.2,016 for the disc variant and Rs.838 for the drum variant. Bajaj CT100’s kick-start alloy wheel variant is priced at Rs.36,136. The CT100’s electric start with alloy wheel is Rs.41,787 while the wire spoke wheel variant is priced at Rs.33,352. There has been a Rs.1000 increase on each of these bikes.

    • Jawa opens their 100th dealership in India

      Jawa Motorcycles has been functioning in full swing ever since the company was resurrected here, in India. The company has recently started the delivery of their first batch of motorcycles as well. Right at the inception, Jawa had set up a target of having more than 100 dealerships in India within the first few months.

      The company had recently announced through a tweet that they have been able to hit the target as they were ready to launch the 100th dealership for Jawa. They further added that the company will be opening dealerships in Hubli, Tinsukia, Jamshedpur, and Tirupati as well. Once these dealerships are open, the official number will be going past the 100 mark. Noticeably, the company has been able to hit this huge target within 4 months of setting up its first dealership which came up in Pune. At present, the company is dealing in 2 different motorcycle models – the Jawa and the Jawa Forty Two. A third model will be coming up soon as announced by the automaker earlier.

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    Customer Reviews

    • Reliance General Two Wheeler Insurance
      "Best policy for two wheeler"
      0.5 3.5/5 "Pretty good"
      Chosen the two wheeler insurance policy from Reliance. My friends suggested me about this company as its best in the market. I paid the premium amount of Rs. 2000 for a single year. They have given me a coverage value of Rs. 40000. The dealer has done all the formalities. I never had any claim experience.
      Was this review helpful? 0
      , coimbatore
      Reviewed on May 23, 2019
    • ICICI Lombard Two Wheeler Insurance
      "Good and feasible poliy for the customer"
      0.5 5.0/5 "Blown Away!"
      I have taken my two wheeler insurance policy. The dealer has recommended me to take the policy from ICICI Lombard, I have been paying the premium amount of RS. 2500 for that they are giving the coverage value of Rs. 8000. This is 100% covered policy. Plastic and glass is not covered in this policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 22, 2019
    • Iffco Tokio Two Wheeler Insurance
      "Very Nice policy "
      0.5 5.0/5 "Blown Away!"
      The amount is reflecting immediately when i make the payment. They have given 100% coverage for the bike. Its a zero depreciation policy. The policy is easy to renewal and the terms and conditions have transparency because all these i have chosen this iffco tokio for my for my two wheeler.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 22, 2019
    • ICICI Lombard Two Wheeler Insurance
      "Good Insurance company"
      0.5 4.0/5 "Great!"
      I took two wheeler policy with ICICI lombard around Rs.1100 for one year of tenure. I have comprehensive plan its protect me as well as my bike. The renewal process is very easy I often used to visit to the branch, and I get the papers within a week.
      Was this review helpful? 0
      , secunderabad
      Reviewed on May 21, 2019
    • ICICI Lombard Two Wheeler Insurance
      "Recommendable insurer"
      0.5 5.0/5 "Blown Away!"
      My bike policy belongs to ICICI Lombard, last time I paid the cost around Rs. 1100 for one year plan. I availed comprehensive plan, the activation process was faster. Currently my bike is four years old, hence the insurer gave me 70% of coverage.
      Was this review helpful? 0
      , pune
      Reviewed on May 21, 2019
    • Bajaj Allianz Two Wheeler Insurance
      "Its Better"
      0.5 2.0/5 "Expected more"
      I have Hero splendor bike it got insured with the Bajaj Allianz, this year I have paid the premium around Rs. 1200 it has third party insurance. This insurance company have linked with many service centers. The renewal process was so easy to activate.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 21, 2019
    • United India Two Wheeler Insurance
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I am using the two wheeler insurance policy with the UNITED INDIA INSURANCE where i had no claim experience with this policy. The coverage is for 3rd party insurance, the premium and the IDV value is good with this insurance policy. the service is good.
      Was this review helpful? 0
      , chennai
      Reviewed on May 20, 2019
    • HDFC Ergo Two Wheeler Insurance
      "GOOD POLICY"
      0.5 5.0/5 "Blown Away!"
      I have been using the two wheeler insurance policy with the HDFC ERGO GENERAL INSURANCE where the policy has the validity for 3 years. The premium and the IDV value is satisfactory with this insurance policy. The policy coverage is for full.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on May 20, 2019
    • Tata AIG Two Wheeler Insurance
      "Best Protection"
      0.5 5.0/5 "Blown Away!"
      One month back I purchased Honda activa 125 bike from the showroom. It got insured with Tata Aig, I paid the reasonable premium they gave me more than 80% of insured value for four years of coverage. I am very fine with the comprehensive plan with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 20, 2019
    • United India Two Wheeler Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I have already taken the two wheeler insurance with the UNITED INDIA INSURANCE and i had no claim experience with this policy added on that the policy has the coverage of higher when purchased only in the store. The premium and the IDV value is good.
      Was this review helpful? 0
      , chennai
      Reviewed on May 20, 2019
    • ICICI Lombard Two Wheeler Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I have taken the two wheeler insurance with the ICICI LOMBARD GENERAL INSURANCE the policy has the coverage of comprehensive also the premium paid was nominal with this loan and the IDV value was satisfactory in this policy. I had no claim experience.
      Was this review helpful? 0
      , chennai
      Reviewed on May 20, 2019
    • ICICI Lombard Two Wheeler Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I am using the two wheeler insurance policy with the ICICI LOMBARD GENERAL INSURANCE where the policy has the coverage for full added on that it has given the no claim bonus with this policy. It is a good policy with nominal premium and IDV value.
      Was this review helpful? 0
      , noida
      Reviewed on May 18, 2019
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