Insurers Got a Target from Yamaha for More Policy Renewals

Most of the two-wheelers don’t care about the renewal of their vehicle insurance cover after the first year. Yamaha Motor India Sales is seized of this issue and its implications. According to the vice-president of the company, Roy Kurian, this is up to the insurers to remind the policy holders about the renewals. The pre-assumption that the latter choose to default wilfully is wrong. The policyholder could have forgotten the deadline and just needed a reminder for the renewal.

Read more
  • Save up to 85% by comparing plans
    Save up to 85%# by comparing plans
  • 20+ Insurers to choose from
    20+ Insurers to choose from
  • 1.2 Crore+ Bike Insured
    1.2 Crore+ Bike Insured
Two Wheeler Top Fold Kapil Sharma Image
No paperwork required! Renew insurance in 60 seconds^

Plans starting at only @ ₹1.3/day*

Enter bike number (e.g DL1SB1234)
Processing

Having a valid motor insurance policy is compulsory as per laws and is as essential as wearing helmets and carrying required vehicle documents. But the percentage of riders who have followed the law beyond first year of policy is very small. 

Defaulters have charged penalty for the protection against natural and manmade calamities, any damage to vehicle in transit by air, road, rail or inland waterway. There is also an option to cover passengers/pillion riders. In addition, it also covers legal liabilities due to third-party’s injury/death or damage to property.

Kurian said that they will take up this issue with dealers and engage insurer companies at corporate level on what could be done. Inauguration of the company’s 18th dealership is done by the Managing Director, Masaki Asano on Thursday at Chakai. The company proposed to enlarge network further in Kerela according to him.

Tier 2 and Tier 3 cities have a growing demand for two wheelers. Yamaha is having 110 dealership networks in South India alone and it proposes for the addition of another 20 by the end of this year.

Asano said that because South is a crucial market, the company has chosen to launch its first scooter, Ray, in Hyderabad. Moreover, the company has claimed a market share of 11% in Kerela where women and youth drive the market according to Kurian. Inspite of a lethargic market, the company has clocked an average growth of 30% at national level in sales in the last six months.

According to a spokesman, Yamaha invested Rs 1,500 crore for setting up its third facility in India. With an initial annual capacity of four lakh units, production will start by 2014 at the new plant near Chennai. This capacity will be extended to 18 lack units by 2018. It’s an addition to the investment of Rs 750 crore in existing facilities in Surajpur for product development, network expansion and capacity expansion.

Search
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

Two Wheeler insurance articles

Recent Articles
Popular Articles
Common Problems Faced by Bike Owners and Their Solutions

10 Jun 2024

As a motorcycle owner, you might face various problems that
Read more
10 Best Bikes for Long Rides in India 2024

07 May 2024

Are you the one who want to cruise through the winding roads of
Read more
MCWG Driving License in India

01 May 2024

To regulate and ensure safe operation, every motorbike owner in
Read more
9 Tips to Maintain Your Bike's Engine

22 Apr 2024

Since the engine is your bike's heart, it is essential to keep
Read more
Best Engine Oil for Bikes in India 2024

18 Apr 2024

In the fast-paced world of biking, you must ensure your riding
Read more
Vehicle Owner Details by Registration Number
Vehicle owner details can come in handy in various situations, such as road accidents, cases of reckless driving
Read more
Three Easy Ways to Check Bike Insurance Expiry Date Online
As significant as it is to buy a bike insurance policy for your motorbike, it is equally important to renew it
Read more
How to Check Bike Owner Details by Registration Number?
In a world full of different types of two-wheelers, each one has its unique identity enclosed in its registration
Read more
10 Best Bikes for Long Rides in India 2024
Are you the one who want to cruise through the winding roads of the Himalayas or explore the beautiful coastline
Read more
How to Get Bike Insurance Details by Registration Number?
According to the IRDA, all bike owners must hold at least a third-party bike insurance policy in India. The bike
Read more

^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.

^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.

#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.

*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)

#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.

*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis