Yamaha Two Wheeler Insurance

The Yamaha Motor Company is a Japanese-based multi-national motorcycle manufacturer. Originally part of the Yamaha Corporation, the Yamaha Motor Company was established in 1955 by Genichi Kawakami. The company’s headquarters are in Shizuoka, Japan and it manufactures a vast range of products from scooters, motorcycles, motors, fishing boats, off-road vehicles and snowmobiles. The company is synonymous with motorcycles, especially racing bikes, with Yamaha being the market leader in the segment.

Yamaha has a presence in India as well, with the company beginning their India operations in 1985. They have grown from strength to strength since then. At present they have over 400 dealers across the country, part of their 1200 consumer touch-points. The company manufactures its top of the line bikes at two plants, one based in Surajpur, Uttar Pradesh and the other in Faridabad, located in Haryana.

Yamaha emphasises on customer satisfaction and quality over all else, enabling it to corner a large percent of the Indian bike market. It constantly strives for perfection through its research division and ensures its services are unmatched through its dedicated sales and services to its customers.

Yamaha manufactures bikes and scooters to suit every budget, with the average price ranging from Rs. 40, 000 to over 25 lakh. So whether you’re looking for a compact scooter or a racing machine, Yamaha has just the two wheeler for you.

With the thrills that come with your new scooter or bike are also the risks of an untoward incident like an accident or mishap taking place. To protect both you and your two wheeler from these, it is recommended that you buy an insurance plan, so you can ride without the worry of astronomical repair/ allied costs. In an effort to safeguard riders, the government too has enacted a new law mandating all two wheelers be covered by third party insurance.

Now that you have to buy insurance for your two wheeler comes the question- which one do you choose? There are a number of providers in the market that provide best bike insurance in india. The kind of two wheeler you possess, the insurance type you are looking at, the premium amount and the total cost after taxes and deductions are points you should bear in mind before you pick an insurance provider for your two wheeler.

Buying insurance is a simple process nowadays, as you can buy and renew it online. You can choose from a 1 year policy and renew it yearly, or opt for a 3 year insurance term. Two wheeler insurance covers damage or losses resulting out of:

Natural calamities: in the event of earthquakes, fires, floods, storms and hurricanes, lightning strikes or self-ignition, landslides and rockslides as well as tempests and typhoons, the insurer will cover the cost.

Man-made calamities: in the event of theft, acts of terrorism, accident, riots, malicious activities or damage suffered during air, road or rail transit, the insurer will cover the cost of damages.

Benefits of Yamaha Bike Insurance:

• Vehicle accessories can be insured under electrical or non-electrical accessories.
• Easy and hassle-free renewal and first time insurance purchase.
• A discount of 2.5% for vehicles with an anti-theft device approved by ARAI installed.
• Tow facility in case of an accident or a breakdown.
• Co-passenger accident coverage (optional).

Insurance Companies Providing Yamaha Bike Insurance Policy:

There are a number of insurance firms that provide insurance for Yamaha two wheelers, with HDFC Ergo and Bajaj Allianz being two of them.

A list of the coverage provided by both is given in the table below:

The Yamaha two wheelers currently available in India are:

Sports bikes:

• Yamaha YZF R15
• Yamaha FZ16
• Yamaha SZ RR
• Yamaha FZ1
• Yamaha VMAX
• Yamaha Fazer
• Yamaha YZF R1
• Yamaha FZ 16

Scooters:

• Yamaha Alpha
• Yamaha RAY
• Yamaha Ray Z

Roadsters:

• Yamaha SZ S
• Yamaha YBR 125
• Yamaha Crux
• Yamaha YBR 110

The table below lists the model and variances of Yamaha bikes, and also lists if they are covered by the particular insurer:

Yamaha Bike Insurance FAQ’s:

1. Q: Will I be covered under insurance if someone else was riding my bike at the time of an accident?

   A: Liability is on the vehicle. Since the insurance is on the vehicle, in this case the bike, it will still be covered as long as the person was riding your bike with your permission. In the event the costs exceed your bike’s insurance cover, the balance would usually be covered by the rider’s liability insurance.

2. Q: Can my two wheeler insurance be transferred in case I sell my bike?

   A: If you decide to sell your bike, the insurance can be transferred to the buyer. The buyer has to submit an application to transfer the insurance to his/her name within a time frame as specified in the policy.

3. Q: Which factors determine the premium on my bike?

   A: The cost of your insurance policy is determined by the premium you have to pay. The premium is dependent on the following factors:

   • Vehicle age
   • Type of vehicle
   • The place where the vehicle was registered
   • The insured sum or IDV.
4. Q: What is IDV?

   A: IDV or Insured Declared Value is the value of your vehicle based on the current market. This rate is decided upon by the insurance company, and the sum is provided by the insurance company in the event of theft or loss of the two wheeler.