Yamaha MT-03 Insurance

Yamaha MT-03 Variant with Insurance Premium

Before you finalise your Yamaha MT-03 insurance, knowing the cost is good. Below is a quick look at the standard model, what you might pay for a basic 1+5 policy, and how much a useful add-on like Zero Depreciation could cost.

*Disclaimer: The information in the table above is for reference purposes only. The Yamaha MT-03 insurance renewal premium will change based on registration, location, IDV, add-ons, etc. The premium amounts listed above were calculated using the online bike insurance premium calculator tool on Policybazaar.com.

Reasons to Buy a Yamaha MT-03 Insurance Online from Policybazaar.com

A high-performance bike like the Yamaha MT-03 deserves a cover that matches its engineering. Policybazaar.com offers a trusted, transparent way to secure your protection efficiently and on your terms.

• Comprehensive Coverage: Protects against own damage, third-party liabilities, theft, and natural calamities.
• 24/7 Roadside Assistance: Whether it's a breakdown or a flat, help reaches you wherever you are.
• No Claim Bonus (NCB): You will receive a renewal discount on your premium for riding safely and not filing a claim during the previous policy year.
• Claim Assistance: The claims process is smooth and swift, with support through every step.
• Hassle-Free Repairs: Repairs at authorised garages are cashless—the insurer settles the bill directly.
• 24x7 Customer Support: Call 1800-258-5970 anytime- day or night for claims, questions or guidance.

Disclaimer: Every insurer has its own list of terms. Always go through your specific Benelli TRK 502 bike insurance policy to know exactly what's included and what's left out.

Yamaha MT-03 Bike Insurance Add-ons

A standard two wheeler insurance policy gives you the basics, but with the Yamaha MT-03, a few smart add-ons can go a long way. These optional covers let you tailor your protection to suit your style of riding and the kind of risks that come with it:

• Zero Depreciation Cover: If your MT-03 ever gets in an accident, this add-on ensures you get the full repair cost with no deductions for age or wear. It's a relief when expensive parts like fibre panels or levers need fixing.
• Return to Invoice Cover: If your bike gets stolen or damaged beyond repair, this cover helps you recover what you originally paid for it, not the reduced market value. Even the tax and registration costs are covered.
• Roadside Assistance: Stuck with a flat tyre or a dead battery in the middle of nowhere? This add-on helps you, whether it's a day, a night, or a Sunday ride gone wrong.
• NCB Protect Cover: Usually, filing a claim wipes out your No Claim Bonus. But with this add-on, you hold on to that bonus even after a helpful claim when trying to keep your premium from jumping.

How to Buy or Renew Yamaha MT-03 Insurance Online?

Insuring your Yamaha MT-03 or renewing the policy takes only a few minutes online. You have to:

• Step 1: Open Policybazaar.com.
• Step 2: Click 'Bike Insurance' under Insurance Products.
• Step 3: If you own the bike, enter your Yamaha MT-03's registration number.
• Step 4: Click 'View Prices'.
• Step 5: Select 'Bought a New Bike' if it's a new purchase.
• Step 6: Enter bike make, model, and registration year.
• Step 7: Choose between third-party or comprehensive cover.
• Step 8: Add any optional covers you want.
• Step 9: Compare plans & pick what suits you.
• Step 10: Pay online, and your policy is delivered to your inbox right after payment.

How to Claim Insurance for a Yamaha MT-03 Online?

If something goes wrong with your Yamaha MT-03, filing a claim doesn't have to be complicated. You can choose between two options cashless or reimbursement, depending on where you get your bike repaired.

1. Cashless Claim Settlement

   This is ideal if you're taking your MT-03 to a garage tied up with your insurer. 

   • Start by informing your insurer right away.
   • A surveyor will check the damage and file a report.
   • Once approved, take your Yamaha MT-03 to a network garage.
   • The insurer pays the repair bill directly—no upfront cost to you.

2. Reimbursement Claim Settlement

   This is useful if you'd rather get the repairs done at your trusted local garage. You have to:

   • Call the insurer and report the incident.
   • A surveyor will be sent to take a look and submit a report within 48 hrs.
   • Fill out the claim form; attach the required documents.
   • Get the MT-03 fixed, pay the bill yourself, and keep all receipts.
   • The insurer reimburses the approved amount once your claim is cleared.

Documents Required for Yamaha MT-03 Insurance Claims

When you raise a claim for your Yamaha MT-03, these documents help move things along without delays. Keep them ready to avoid back-and-forth later:

• A filled and signed claim form.
• Your driving licence (must be valid and current).
• The RC of your Yamaha MT-03.
• An estimate from the garage for the repair work.
• Invoices for parts or repairs already done.
• Proof of payment—receipts, bills, etc.
• FIR is only if required by the insurer.
• KYC documents if the damage costs over ₹1 lakh.

Additional Documents Required for Yamaha MT-03 Theft Claims

If your Yamaha MT-03 is stolen, the insurer will ask for a few extra documents to move the claim forward smoothly:

• A copy of your original insurance policy—this confirms your cover was active.
• A letter from the RTO declaring the bike as officially marked 'No Longer in Use'.
• Both keys—insurers often ask for this.
• If the bike's RC is lost, get a duplicate if needed.
• A non-traceable certificate from the police.
• The original purchase invoice.
• A copy of the FIR.
• NOC from the bank or lender.
• A signed letter of subrogation.