If you own the very stylish-looking and youth-oriented bike, KTM Duke 250, you may want to ensure your insurance is in place. KTM Duke 250 is fully-equipped with premium components and amazing hi-tech features. So, any dent on your bike might cost you a bomb, if you haven’t covered it yet.
Choosing the insurance policy for your beloved bike can be daunting and confusing, as there are several insurance companies which provide distinct types of bike insurance policies with various kinds of coverage benefits.
Forbes Advisor India is always there to assist you in providing the relevant and updated insurance related information along with other details for your KTM Duke 250, so that you enjoy your road trips joyfully and worry-free.
About KTM Duke 250- An Overview
Austrian bike manufacturer, KTM, deals in off-road bikes as well as street motorcycles. In India, since 2012, KTM has been amongst the leading players of the motorbike industry, manufacturing various kinds of best-selling models including KTM Duke 250.
The KTM Duke 250 boasts its light-weight frame, sleek look and aggressive body structure. The handlebars of the bike are hi-tech which allows the rider to balance with robust torque. Let’s see the unique features of KTM Duke 250:
Unique features:
- Wide inch rear and front-wheel size.
- Electric start and stop engine.
- Extremely lightweight craftsmanship
- Power assisted slipper clutch.
- Hi-tech upright handlebars.
KTM Duke 250 Specifications
KTM Duke 250 Price
Starts from INR 2.38 lakh (ex-showroom Delhi)
Types of Insurance Policies for KTM Duke 250
Third Party Coverage
A third party insurance coverage is mandatory for every bike owner in India. It covers third party liabilities arising due to your bike accidentally. The policy only covers property damages, disabilities or death of third parties. The third-party premiums have been already decided by the insurance regulator of India, IRDAI, which are as follows for FY 2022-2023:
Comprehensive Coverage
In addition to the third party insurance coverage, a comprehensive insurance policy also protects your own bike and its parts against accidents, fire, theft, vandalism, collisions and natural calamities. The policyholder has to renew their comprehensive coverage every year. Comprehensive coverage also allows you to add the optional covers for enhanced coverage at nominal cost of premium.
The premium for comprehensive policy is not pre-decided like a third party insurance policy. It is affected by a lot of factors such as engine capacity of bike, make and model, its variants, location of regional transport office (RTP), selected add-ons and other such factors.
Add-on Insurance Covers for KTM Duke 250
- Nil Depreciation: Nil or zero depreciation is the most commonly purchased add-on which ensures that you receive the full value of replacements or repairs at the time of making claim without not factoring any kind of depreciation cost.
- Engine or Gear Protection: Covers the bike’s engine and gearbox against damages due to accidents or any other such event.
- Emergency Assistance: Provides assistance to your bike when it gets stuck in the middle of the road due to mechanical breakdown.
- Invoice Protection: It allows you to claim ex-showroom cost and other such charges at the time of theft or total damage of your bike. It compensates the gap between total insured declared value (IDV) of your bike and other additional charges such as road tax which you might have paid while purchasing the bike.
Inclusions and Exclusions of KTM Duke 250 Insurance Policy
Inclusions:
- If KTM Duke 250 is stolen or damaged.
- Damage to third-party property or vehicle, injuries or death of a third-party person.
- Personal accident cover for the owner-rider.
- Accidental damage due to the transportation of the KTM Duke 250.
- Fire damage caused by self-ignition, lightning.
- Natural disasters such as floods, earthquakes, landslides.
Exclusions:
- Any loss or damage occurs outside India.
- General wear and tear due to regular use.
- Mechanical or electrical failure.
- Damages caused due to adventurous activities.
- Damages due to war-like events.
- Damage happens if you are not wearing a helmet or do not have a valid driving licence.
- Damages happen when you are driving under the influence of intoxicating substances.
- If your third-party bike insurance plan is only valid, then personal accident coverage and own damage loss are not provided.
Step-by-Step Guide to Buy/Renew KTM Duke 250 Insurance Policy Online
- Visit the official website of the selected insurance company.
- Select “buy bike insurance” from the menu.
- Enter your KTM Duke 250 registration number and click on the “Get Quote or Price” option.
- If you want to renew your current KTM Duke 250 insurance policy, click on the “Renew” option.
- Now, select the type of coverage as per your requirements.
- Fill in all the required details of your bike and your personal information.
- Once you select the coverage and add optional covers, the calculated premium amount will reflect on your screen.
- At this stage, you can also check the other premium quotes for the same type of coverage.
- If you are satisfied with the given premium quote, then go ahead with buying the policy by making the payment via online modes.
- Once the payment is done, you will receive your soft copy of policy on your registered email and on WhatsApp number.
Why Should One Buy Insurance Policy for KTM Duke 250?
It is necessary to buy a KTM Duke 250 insurance policy because of the following reasons:
- Safeguards you and your KTM Duke 250 against any unforeseen events such as accidents, death, bodily injuries.
- Provides coverage for third-party property or person, if damaged due to your insured bike.
- Very simple buying and renewal insurance policy.
- Receive cashless services for repairing your KTM Duke 250 through extensive network of cashless bike garages in India.
- KTM Duke 250 is an expensive bike, so the repair cost might be exorbitant, which has to be borne by the rider if there is no insurance against the bike.
- Very easy and simple bike insurance claim settlement procedure which can be easily filed online.
How to File A Claim For KTM Duke 250?
The claim process for two-wheelers insurance is quite easy and hassle-free. If your insured KTM Duke 250 has gone through any damages or losses, you can easily file for a claim process through a very simple and hassle-free process, which includes the following steps:
- Step 1: Call on the given toll-free number of the insurance company or fill the form online by visiting their website.
- Step 2: As a next step, you will receive the link for self-inspection. Following this link, you are required to share the picture of your damaged vehicle online via smartphone.
- Step 3: Select the mode of repair which can be either reimbursement or cashless. In the reimbursement mode, all the repair cost will be compensated later to you once the repair is done from the non-network garages. While you can avail cashless facility, if you get the repair done through the network of garages of the insurance company.
Frequently Asked Questions (FAQs)
On what basis does the premium for bike insurance policies get calculated?
There are many factors on the basis of which motorcycle premiums are calculated. For third party bike insurance the premium is pre-decided by the Insurance Regulatory and Development Authority of India (IRDAI). However, for comprehensive policies, the premium amount varies, depending on aspects like the make and model of bike, its variant, engine capacity, fuel type, RTO location and registration city.
Is it compulsory to renew the bike policy for my KTM DUKE 250 from the same insurance company?
No, it is not at all necessary to buy or renew the bike insurance policy for the same previous or existing insurance company. You can always check the premium quotes and decide which policy and insurance company is best suitable for you.
Till how long will my KTM Duke 250 insurance policy be valid?
The bike insurance policy generally has a tenure of one year. There are only selective insurance companies which offer long-term insurance policies. It is important to renew your policy before the due date to maintain continuity.
What happens to my bike insurance policy if I sell my KTM Duke 250?
If you sell your bike and you always have the option of transferring your bike insurance policy also. The new owner of the bike will have to inform the insurance company within 14 days of buying the vehicle and give all the required information to transfer the insurance policy.
