Royal Enfield is one of the most famous motorcycle brands in India. People looking to go on trips on bikes have their eyes on the comfortable, slick, and stylish Royal Enfield Classic. The rugged look, robust modification possibilities, and great road presence are a few more reasons why Royal Enfield Classic is in growing demand in the motorcycle market.
Buying a Royal Enfield Classic is undoubtedly an excellent choice but you also need to secure yourself against the damage costs and legal liabilities that may arise during a road accident. To do that, you must buy a Royal Enfield Classic insurance policy. Moreover, as per The Motor Vehicles Act, 1988, you cannot ride a bike without having a proper motor insurance policy. IFFCO-Tokio can help you in this regard with its specially designed Royal Enfield Classic insurance policies that offer complete coverage.
When it comes to buying a Royal Enfield Classic bike insurance policy, you can either choose the basic third-party Royal Enfield Classic insurance policy or the comprehensive Royal Enfield Classic bike insurance policy that allows you to include different add-ons. You can easily get a Royal Enfield Classic insurance plan that suits your requirements from IFFCO-Tokio
The road is unpredictable; an unforeseen event can occur anytime and anywhere. This is why it is crucial for you to protect yourself with the appropriate coverage. A Royal Enfield Classic bike insurance policy from IFFCO-Tokio will make sure that you are covered!
If you choose to go for a third-party bike Royal Enfield Classic insurance policy, you will get compensated for all the costs that arise in case of an accident that involves a third party. Plus, you get covered for legal liabilities.
If you opt for a comprehensive Royal Enfield Classic insurance policy, you will not only be secured against the expenses that arise if you cause damages to a third party but also receive compensation for expenses that arise due to own damages as well as natural and man-made calamities.
You can simply visit any of the IFFCO-Tokio branches and buy the Royal Enfield Classic insurance policy in person. You can also receive special assistance from one of our customer service team members if required. Insurance buyers can also opt to purchase Royal Enfield Classic bike insurance online. You just need to follow three easy steps if you choose to carry out online procedures–
Fill in the basic information regarding yourself and your bike in the first section. Once done, you will be able to view suitable Royal Enfield Classic two-wheeler insurance policies and add-ons.
Select a Royal Enfield Classic insurance policy that you find the best depending on your travel requirements. You can also include add-ons if you choose a comprehensive Royal Enfield Classic bike insurance policy as it is customizable.
Click on ‘continue to pay’ and complete the transaction using your credit/debit card or another online mode of payment. Once that is done, your Royal Enfield Classic insurance policy will be delivered to your inbox immediately!
You must buy your Royal Enfield bike insurance policy online to enjoy the following benefits:
Complete the entire process with the help of your smartphone
Purchase the Royal Enfield Classic insurance policy whenever you want without worrying about the time
Receive the Royal Enfield Classic two-wheeler insurance policy over email, avoiding the need of maintaining a complicated paper trail
This would depend on whether you go for a third-party Royal Enfield Classic insurance policy or a comprehensive insurance policy.
Coverage under a third-party bike insurance policy
Coverage under a comprehensive bike insurance policy
A comprehensive Royal Enfield Classic 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 comprehensive Royal Enfield Classic two-wheeler insurance policy covers:
Here are some recommended add-ons that can widen the coverage of your Royal Enfield Classic bike insurance policy.
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 Royal Enfield Classic two-wheeler insurance policy 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 Royal Enfield Classic two-wheeler insurance policy covers both third-party liabilities as well as own damage to your bike. It also covers both natural and man-made calamities. These comprehensive Royal Enfield Classic two-wheeler insurance plans also allow you to include add-ons for a wider coverage!
You can also include the zero-depreciation cover to your comprehensive Royal Enfield Classic 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 Royal Enfield Classic two-wheeler insurance policy.
Premium is the amount you have to pay to enjoy bike insurance coverage. It is usually payable annually, except for the case of long-term Royal Enfield Classic insurance plans, where it is usually paid once every 3 years.
The financial protection provided by your Royal Enfield Classic two-wheeler insurance policy is known as coverage. The coverage of a bike insurance policy will vary based on the insurance provider and the type of Royal Enfield Classic two-wheeler insurance plan you purchase.
Add-ons are extra amounts of financial protection that you can purchase to widen the coverage of your Royal Enfield Classic two-wheeler 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% year after year for not making any claims against your Royal Enfield Classic insurance plan.
It’s simple! Just use our bike insurance premium calculator. This online tool allows you to check the premium of your Royal Enfield Classic 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%(FY21).
IFFCO-Tokio won the 2019 IDC Digital Transformer Award for India for AI-based claim assessment of damaged vehicles. We have also won the BFSI Digital Innovation Award by Express Computers, Indian Express Group, as well as the Digital Insurer of the Year 2019 by Insurance Asia News Awards for Excellence.
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.
This is the first time I have renewed the bike insurance via the IFFCO TOKIO. Great experience. Thank you.
Rated by: Sakshat Krishna
I would recommend Iffco tokio to everyone who wants to ensure their two wheelers.
Rated by: Pranab Kumar
excellent options for bike insurance renewal
Rated by: Vivek Singla
Its easy to update insurance already !
Rated by: Shweta
Very good company.
Rated by: Homi Kapadia