BMW is a name that has been synonymous with cars for almost a century, as it has been a premium luxury brand known to produce cars that are a package of class and comfort. However, BMW has been manufacturing motorcycles since 1920s. BMW has been producing sports bike, off-road bikes and touring bikes, and has been participating in many of the motorcycle competitions that take place around the world.
BMW has been present in the Indian two-wheeler market since 2018 and has many of its famous and iconic models from which you can choose one to buy. And one of the things that would benefit your new bike is a BMW two-wheeler insurance, which will keep you and your bike financially protected in case of an accident. For you to be able to be ride on Indian roads, you need to own a basic third-party bike insurance, as per Motor Vehicles Act of 1988. At IFFCO-Tokio, you can buy the policy that you need.
You can buy a basic third-party BMW two-wheeler insurance, which is mandatory by law, or you can buy the comprehensive BMW two-wheeler insurance, that will provide you extended coverage and is the choice of most bikers. IFFCO-Tokio will help you in making an informed decision when it comes to your policy.
As a bike rider, we try to ride our bikes as safely as we can, but circumstances aren’t always in our hands and we may get involved in a road accident. We may not be able to predict when a mishap might take place, but we can be well-prepared to face such a situation by getting BMW two-wheeler insurance from IFFCO-Tokio.
When buying a bike insurance, you can go for a basic third-party BMW bike insurance plan, which will cover you financially for your legal and financial liabilities for the damages the third- party may suffer.
Or you can go for the comprehensive BMW bike insurance plan that will you financially cover you and the third-party as well for any loss/damage that you might face in the event of a natural/manmade disaster.
In order to get your BMW insurance, you have the option of going to a IFFCO-Tokio office in person and getting your insurance from there. Alternatively, you can buy your BMW insurance online from the website of IFFCO-Tokio. With an easy process, you will be able to purchase your BMW two-wheeler insurance online with just a few clicks.
Here are the two ways in which you can buy your BMW two-wheeler insurance from IFFCO-Tokio:
Visit your local IFFCO-Tokio office and the customer representative will assist you in getting the BMW insurance as per you budget.
Get your BMW insurance online by following these steps-
Complete your login, provide your name, contact information, and bike details such as model and registration number. You will then be able to view all the BMW insurance plans in detail.
Opting for the comprehensive BMW bike insurance plan lets you select various add-ons in the policy.
Once you have selected your BMW insurance and all the features you need, pay for the policy securely on the website. Once the payment has been done, you will get your BMW bike insurance plan via mail.
You should buy your BMW bike insurance plan online because:
Buying the policy online is very simplified, happens in a few clicks and is less time consuming.
You can buy your BMW insurance any time of the day you want without any hiccups.
Buying the policy online lets you submit soft copies of the documents and physical copies aren’t required.
This would depend on whether you go for a third-party BMW insurance policy or a comprehensive insurance policy.
Coverage under a third-party bike insurance policy
Coverage under a comprehensive bike insurance policy
A comprehensive BMW insurance policy is considered to be the ideal choice for any policyholder. This is because this type of policy covers the third-party and also the policyholder. Here’s what the policy covers:
Widen the coverage of your BMW bike insurance policy with our range of add-ons.
Zero-depreciation cover pays the entire claim amount without deducting depreciation value at the time of settling the claim.
This add-on keeps your no claim bonus safe even if you made a claim in the previous year.
If your vehicle is deemed a total loss, the add-on cover helps you get the original invoice price of the vehicle, including road tax and registration charges.
These are some of the standard exclusions of a bike insurance policy in India:
Types of bike insurance we provide:
Third-party insurance only covers any damage to a third party, including death, bodily harm, injury, and damage to a property in case of an accident or collision involving your bike.
Comprehensive bike insurance covers both third-party liabilities as well as own-damage to your bike. It also covers both natural and man-made calamities. These plans also allow you to include add-ons for a wider coverage!
You can also include the zero-depreciation cover to your comprehensive BMW two-wheeler insurance policy. This will ensure that in case of an accident, you get complete reimbursement for part replacements without any deduction for depreciation. Great, isn’t it?
You should be aware of the following bike insurance terms before you buy the BMW two-wheeler insurance policy.
Premium is the cost of your insurance plan which you pay to enjoy bike insurance coverage. It is usually payable annually, except for long-term plans, where it is usually paid once every 3 years.
The financial protection provided by your insurance policy is known as coverage. The coverage of a bike insurance policy will vary based on the insurance provider and the type of plan you purchase.
Add-ons are extra amounts of financial protection that you can purchase to widen the coverage of your BMW bike insurance policy.
IDV stands for Insured Declared Value. It is the listing price of your bike minus depreciation. In case of a total loss or theft of your bike, IDV is the maximum compensation your insurance provider will offer.
NCB is a discount you get when you renew your plan after a claim-free year. This discount will keep increasing for every claim-free year. You can avail a maximum discount of 50% every year.
It’s simple! Just use our two wheeler insurance premium calculator. This online tool allows you to check the premium of your BMW two-wheeler insurance policy using some very basic information. To calculate the premium, you must provide the following details:
Our bike and scooter insurance plans are like an extension of your protective gear. They keep you safe, wherever the road might take you! From the headlight to the tail-lamp, we’ve got you covered!
We use innovation and technology to provide you quicker and more convenient insurance solutions. For example, your policy can be issued instantly through our distribution channels. You can also use our QCS (Quick Claim Settlement) App to accelerate your claim process and get up to Rs. 20,000 transferred to your bank account within a few minutes - all with just a few clicks on your smartphone.
With close to 20 years of experience in the insurance industry, we have settled more than 8 lakh claims (in FY19) with a settlement ratio of 95.80% (in FY21). This is just one of the reasons why 1,00,000+ individuals entrust us for their bike insurance needs.
We provide cashless services in more than 4300 garages, which are evenly spread across the country.
We offer a QCS facility under which bike insurance claims get settled seamlessly within minutes.
For 20 years, we have been servicing our customers with a wide range of insurance policies.
We’ve settled a total of 8.61 lakh claims in FY2019 and have a claim settlement ratio of 95.80%.
IFFCO-Tokio won the 2019 IDC Digital Transformer Award for India for AI-based claim assessment of damaged vehicles, and the BFSI Digital Innovation Award by Express Computers, Indian Express Group.
Our policies can be brought from more than 20,000 agents and branches having a wide presence throughout the country.
Through our QCS app:
If you wish to make a claim for compensation, you can do so using our QCS (Quick Claim Settlement) app. All you have to do is upload related documents, photos, and videos of the damages you want to make a claim for. We will review the documents and other details uploaded by you and approve your claim (we have a claim settlement ratio of 95.80%). After this, the estimated amount for repairs will be sent to your bank account within minutes. Please note, for claims made through an application, the maximum claim amount will be Rs. 20,000.
You can register a claim for compensation online or by reaching us on 1800-103-5499. To make a claim online, you will have to log in with your registered Email ID and Password. When you log in, go to ‘make a claim’ option and follow the steps mentioned. If you register a claim over a call, our customer care executives will guide you with further procedure.
The add-ons on my IFFCO-Tokio comprehensive two-wheeler insurance plan are great.
Rated by: Deepak Parikh
IFFCO-Tokio provides great comprehensive insurance plans!
Rated by: Vaishali Kadam
IFFCO-Tokio has so many network garages so taking my bike insurance plan from them was a smart decision.
Rated by: Anjan Bhawalkar
I was looking for quotes on bike insurance policies and IFFCO-Tokio provided the best deal.
Rated by: Tapan Hinduja
I got my Honda Hornet insured by IFFCO-Tokio and I am very happy with my decision.
Rated by: Rohit Mehta