Suzuki Insurance

Suzuki Motorcycle India Private Limited is a subsidiary of Suzuki Motor Corporation, Japan. The company offers scooters and motorcycles across every segment with a core philosophy to provide ‘Value Packed Products’. It has one manufacturing plant in the country located at Gurgaon (Haryana) with an installed capacity of 540000 units annually. The company’s plant is completely built keeping environment in mind and is a zero-discharge plant.

However, to secure your two-wheeler from any loss or damage it is imperative to get it insured with Suzuki insurance. As it is mandatory to buy a vehicle insurance policy in India for the all the bike owners or drivers, therefore you need to get it for your Suzuki bike or scooter as well. You can choose from a third-party liability only cover or comprehensive two-wheeler insurance.

5 Popular Suzuki Bike Models with Bike Insurance Price

Suzuki Bike/Scooter Models Estimated IDV (Rs.) Estimated Suzuki Insurance Price (1-year Policy)
Suzuki Gixxer 48,435 1436 approx.
Suzuki Swish 38, 217 830 approx.
Suzuki Slingshot (Alloy Wheels) 30, 177 834 approx.
Suzuki Hayabusa GSX 10,20,800 7693 approx.
Suzuki Intruder 56, 940 1374 approx.

(The above figures are for reference purpose only)

Reasons to buy Suzuki Insurance for your Bike?

Two-wheeler insurance for your Suzuki bike is like a shield against road mishaps. Though bikes/motorcycles are a faster and economical mode of transport, the degree of risk is higher as compared to other vehicles.

A stitch in time saves nine and therefore it is imperative that you buy bike insurance policy for your Suzuki bikes to deal with road emergencies in the most effective manner.

Inclusions of Suzuki Insurance for Two-wheelers

Suzuki insurance for your two-wheeler will cover third-party damages as well as the damage that has happened to your vehicle after an accident/collision. Here’s what is covered under two-wheeler insurance for your Suzuki bike or scooter:

  • Third-party Bike Insurance: It covers liabilities in case of third-party death and bodily injuries. In case of third-party property damage, the compensation limit is Rs. 1 lakh.
  • Comprehensive Bike Insurance: Damage to the two-wheeler resulting from a collision or accident. If there is any loss or damage to the insured two-wheeler from man-made disasters or natural calamities such as –
    • Flood, earthquake, cyclone, hurricane
    • Self-ignition, fire, explosion &, lightning, Strike, riots and theft
  • Personal Accident Protection Cover – Coverage is provided to the individual driver of the car in if the accident taking place while travelling, or while getting in and out of the vehicle. There is also an option to buy personal accident protection for co-passengers.

Add-on Covers in Suzuki Insurance for Two-wheelers

However, there some of the most common optional benefits that are available in a bike insurance policy and the same applies to your Suzuki two-wheeler insurance

  • Depreciation Cover- In case of own damage claims if the vehicle is repaired at one of the network garages, then depreciation on the value of parts replaced will not be deducted from the sum assured.
  • Consumables Cover- It also covers expenses incurred on the repair/damage of the vehicle parts resulting due to any of the perils that are included in the policy. For example- engine oil, screw, nut and bolt, and the like.
  • Roadside Assistance- If your Suzuki bike or scooter breaks down in the middle of the road then you can avail emergency roadside assistance from the insurer
  • Personal Accident Cover for the Pillion Riders- Personal accident protection to the co-riders can also be availed by paying an additional premium
  • Coverage for electrical/non-electrical parts of the two-wheeler can also be purchased

Exclusions of Suzuki Insurance for Two-wheelers

Suzuki insurance for your two-wheeler will not accept your claim under the following circumstances:

  • Drink and driving
  • Consequential damage/loss
  • Any claim arising out of contractual liabilities
  • Any incident that has taken place outside the geographical area
  • Breakdown and failure that are mechanical/electrical in nature
  • Wear and tear of the two-wheeler
  • If a radioactive material, nuclear reaction, and a war condition is the reason for vehicle damage then the claim request will be rejected.

How to Buy Suzuki Insurance for your Two-wheeler?

Here’s what you need to do-

  • Visit the website of Policybazaar
  • Go to the Suzuki insurance tab
  • Click on buy now. It will direct you to a new page where you need to select ‘Buy New’- buy the policy for your new bike
  • Enter your email address and mobile number
  • Agree to the terms and conditions
  • Click on submit
  • You will receive a Suzuki bike insurance quote
  • To proceed, click on buy now option
  • It will direct you to the payment page and you can make the payment online through debit card/credit card and net banking.
  • Suzuki insurance policy will be emailed on your registered id. A hard copy will be sent to your address.

However, if you want to buy the policy online-

  • Visit their nearest branch office of the insurer
  • Submit the duly filled car insurance proposal form
  • Submit all the required documents
  • Make the payment via demand draft or cheque
  • Once the inspection is done, you will receive your car insurance papers over email and in hard copy.

Suzuki Insurance Renewal for your Two-wheeler

You can renew your Suzuki bike insurance online, before the expiry of your existing vehicle insurance policy. If your bike insurance policy has already expired, your bike will be surveyed by one of the insurance representatives before issuing the policy. Remember, that the policy will be issued only after submitting your documents and a satisfactory inspection.

For Suzuki insurance renewal simple follow the steps given below:

  • Enter your Bike insurance policy number
  • Registration No./ Engine Number/ Chassis Number
  • Enter New if it is a new vehicle
  • And click on submit

Suzuki Insurance Claim Procedure

Here’s a quick rundown of the step-by-step procedure that follows-

  • Immediately lodge your claim with the insurer
  • One of their representatives will contact you to fetch more details and initiate the claim settlement process
  • Your vehicle will be surveyed within 24 to 48 hours of filing the claim.
  • As the two-wheeler is moved to one of the registered workshops for repair, documents mentioned in the table below will be required as per the claim request.
  • These will be verified by the surveyor and the claim will be settled.

Documents Required for Suzuki Insurance Claim

Documents Required Theft Claims Accidental Claims
Duly filled claim form Yes    Yes   
Police FIR Yes    Yes   
Dl (Driving License) Yes    Yes   
RC (Registration Certificate) Yes    Yes   
Pic of the damaged two-wheeler Yes    Yes   
Repair Bills (for reimbursement claims only) Yes    Yes   
Fire Brigade Report (if required) Yes    Yes   
Vehicle keys Yes     
No Trace Report Yes     
Power of Attorney & Subrogation (in case of theft and total loss) Yes    Yes   
NOC from financer Yes     
Indemnity Bond Yes     
Discharge voucher Yes    Yes   

Suzuki Insurance FAQs

  • Q. What are the benefits of buying Suzuki Two Wheeler Multi-Year Package Policy?

    Ans: It helps you avoid the hassle of renewing your policy every year and enjoy long-term coverage benefit up to 3 years with Two-Wheeler Multi-Year Package Policy.

    Moreover, you can -

    • Opt for a 2 and 3-year plan
    • Only one-time payment of insurance premium is required
    • You can avail additional No-claim-bonus benefits
  • Q. What is IDV in Suzuki two-wheeler insurance?

    Ans: IDV is based on the selling price of the two-wheeler as fixed by its manufacturer after deducting the depreciation on its parts, as mentioned in the table below. Please note that it is valid only for claims arising out of total loss or constructive total loss of the two-wheeler.
  • Q. Why is deprecation charged on my Suzuki two-wheeler insurance?

    Ans: Depreciation applicable while fixing the IDV based on the age of the vehicle -  
    Age of the two-wheeler Percentage of Depreciation
    Up to Six months 5
    Six months to One year 15
    One year to two years 20
    Two years to three years 30
    Three to four years 40
    Four to five -years 50

    IDV of two-wheelers that are more than 5 years old or have been discontinued can be decided mutually between the insured and the insurer. If the vehicle has been stolen or is declared a total loss, the sum assured will be calculated after deducting the compulsory deductibles from the IDV.

  • Q. Why should I buy a comprehensive insurance for my Suzuki bike or scooter?

    Ans: It will cover any loss or damage that has occurred to your two-wheeler due to the following reasons – Accident, self-ignition, fire, burglary, housebreaking, riots, floods, cyclone, and an earthquake. Furthermore, damages during transit are also compensated.  Third-party death, bodily injuries and property damage is also recompensed.
Written By: PolicyBazaar - Updated: 14 July 2020
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