A new bike means new beginnings. It may be your long-awaited purchase, or your first bike gifted by your parents, whatever be the case, it is a memorable experience. After countless trips to the showroom comparing different models of bikes, taking test-rides and sorting out the finances, a new bike seems like a small victory in itself. However, it is just the first step. Here’s what you need to do when you buy a ride for yourself:
Once you have managed how to fund the purchase, the first step to take is its registration. Here, the vehicle is registered in your name and allotted a registration number. This is based on the registering RTO. But, here’s a good news for you. You need not do this procedure all by yourself. Vehicle dealers help you register the vehicle on your behalf. With some basic documentation formalities like identification proof, address proof and proof of payment, the registering RTO issues the registration certificate.
Next step after registration of your bike is to avail an insurance coverage. Most vehicle dealers offer a few alternatives for you to choose from, however, you are free to purchase any other bike insurance policy
too. The Motor Vehicles Act of 1988 makes it mandatory to buy a bike insurance plan. But this legal requirement stipulates a third-party bike insurance policy as the minimum. Third-party plans have a limited coverage where only legal liabilities arising out of accidents and collisions are covered. Here, any damages to your car are not included. In addition to property damage, injuries to such third person are also included.
An alternative to such third party bike insurance
plans are comprehensive policies. These polices not just offer coverage for legal liabilities, but also cover include the damages to your bike. Collisions do not cause damage to the third person, but also your vehicle. Hence, it is essential to seek coverage for your bike. Apart from protection for the damages to your bike, comprehensive plans are customisable that can help you fine tune the insurance policy’s scope. But remember one thing—these are optional features to a comprehensive plan and impact the two wheeler insurance price
directly. * Standard T&C Apply
If you are buying a policy from your vehicle dealer itself, make sure to compare it amongst other insurance covers. While you are at it, do not make price the sole determinant but instead, keep in mind the policy features and insurance coverage too.
After finalising on the bike and its insurance cover, accessories are another way to express your love for it. These accessories can either be cosmetic or performance based. Considering the type of accessory, it impacts your bike insurance too. For instance, an accessory enhancing the safety of your bike lowers the premium amount.
Bike manufacturers have a defined warranty for their bikes. This warranty period can differ among different manufacturers. In addition, at the time of purchase, you have an option to choose additional warranty cover which extends the scope of the manufacturer’s warranty. This is known as extended warranty and is offered commonly by the vehicle manufacturer.
Lastly, keep in mind the service requirement of your insurance policy. Modern day bikes require to bring in your bike for first check-up after 1,000kms or within 30 days. While it may differ from each manufacturer, there is a service which needs to be made once you have brought home your bike.
These are the next steps that you must remember when getting home your bike. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.