Lohia Machines Limited, or popularly known as LML is an Indian two-wheeler manufacturer based in Kanpur. Established in 1972, LML was involved in the production of synthetic yarn manufacturing machines. It was in 1984 that LML had a collaborative agreement with Piaggio to manufacture their scooters in India, which was LML’s official entry in the two-wheeler industry. They also had an agreement with Benelli of Italy and Daelim Motor Company of South Korea to produce their two-wheelers in India.
LML also manufacture and sell their own scooters, apart from the ones they manufacture in collaboration with other companies. There is a variety of scooters from LML that you can choose from as per your liking. One thing you should definitely go for when buying a LML bike is LML two-wheeler insurance, which is a mandatory basic third-party bike insurance. According to the Motor Vehicles Act of 1988, you need to have a basic third-party bike insurance to be able to ride on Indian roads. With IFFCO-Tokio, you will be able to get the best bike insurance you need.
You can buy a basic third-party LML two-wheeler insurance plan which is mandatory as per the rules, or you can buy the comprehensive LML two-wheeler insurance plan, which has many benefits and is the preferred choice of most bikers. You can get the LML two-wheeler insurance that suits your needs from IFFCO-Tokio.
As a bike rider, it is your responsibility to always follow the safety rules and take all the precautions you possibly can. But sometimes, others may not do the same and one mistake on their part can cause you to be involved in an accident. Now as a bike rider you can do all you can, but as a bike owner, you can financially protect yourself from accidents by getting a LML two-wheeler insurance from IFFCO-Tokio.
Going for a basic third-party LML bike insurance plan will give you financial coverage from the legal and financial liabilities for the damages that the third-party may face.
However, the comprehensive LML bike insurance plan will financially cover you and the third-party as well, and protects you in the event of any loss/damage that you might face due to any calamity.
You can buy your LML insurance by visiting an IFFCO-Tokio office and buying the insurance directly from there. Or you can just simply head over to the IFFCO-Tokio website and get your LML insurance from there. Buying your LML two-wheeler insurance online is more convenient and time-saving.
Here’s how you can buy your LML two-wheeler insurance from IFFCO-Tokio:
Visit the nearest IFFCO-Tokio branch and inquire about the LML insurance, and you will be provided with the best assistance in buying the insurance that meets your requirements.
You can get your LML insurance from IFFCO-Tokio website in 3 simple steps-
On the website after you log-in, submit your personal details, then your bike details such as its model and the registration number. Submit these details and you will be able to see all the LML insurance plans.
The comprehensive LML bike insurance plan has the option include additional features and various add-ons in your insurance policy.
After you have selected your LML insurance and all the features, just simply pay for the insurance online and you will be able to receive your LML bike insurance plan via mail.
You should buy your LML bike insurance plan online because:
Getting your insurance policy online is very easy, saves lot of time and energy & can be done from anywhere.
With buying your LML insurance online, you will be able to get your insurance whenever you want without any problems.
As the whole process is online, it means that all the documents required will be in the digital format only and no physical copies required.
This would depend on whether you go for a third-party LML insurance policy or a comprehensive insurance policy.
Coverage under a third-party bike insurance policy
Coverage under a comprehensive bike insurance policy
A comprehensive LML 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 LML 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 LML 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 LML 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 LML 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 bike insurance premium calculator. This online tool allows you to check the premium of your LML 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 best two wheeler insurance plan is provided by IFFCO Tokio.
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