| | NOVEMBER 20218IN FOCUSHow to Buy & Renew TVS InsuranceBY CEO INSIGHTS TEAMTVS is one of the most popular and trusted brands among Indian households for the two-wheeler segment. Because of its design, easy-to-use vehicles, and affordability, it is leading on its path to becoming a primary choice of its consumers. If you have taken a TVS, then it's time you should know everything about TVS insurance.How to buy TVS Insurance?Buying TVS insurance is a simple process that can be done online through any general insurance company. You will require the following documents to purchase your TVS insurance:1. Personal Information: Full name, Mobile number, E-mail ID, Address, Pin Code, Any other details as may be required by the insurance company.2. TVS Vehicle Information: Place where the TVS is registered (RTO detail), Vehicle model, Vehicle registration number, Year of manufacture, Fuel type, IDV, Cover of accessories installed in the vehicle, if any previous claims, Any other details as may be required by the insurance company.Types of TVS InsuranceFollowing are two different TVS insurances that are available with different terms & coverage:1. Third-party Insurance: It is mandatory to have third-party insurance under the Motor Vehicles Act, 1988, and it is one of the most affordable vehicle insurance coverage. As the name suggests, third-party insurance protects against the liability towards the third party in case of an accident. It covers damage and repair costs and the medical expenses for bodily injuries caused to the third party. However, it is pertinent to note that third-party insurance provides protection only against third parties, and injuries and damage caused to you and your vehicle won't be covered under third-party insurance.2. Comprehensive Insurance: Comprehensive insurance provides comprehensive coverage against various risks to you and the third party in case of any mishap. A comprehensive insurance policy ensures protection for the following:· Natural calamities and man-made disasters.· Theft.· Medical costs for injuries caused to you, including death.· Damage and repair costs of your vehicle.· Medical costs of the third party in case of an accident.· Damage and repair costs of third party's vehicle and property,· Other specific coverages, depending upon the policy terms and conditions, depending upon the extent of risks to be covered, you can select a comprehensive or a third-party TVS insurance policy.Benefits of TVS InsuranceVarious reasons for why you should have TVS insurance are highlighted as below:· Legally mandatory as per the Motor Vehicles Act, 1988.· Protects you financially in case of any mishap.· Covers third-party medical and repair costs, relieving a significant burden on your pocket.· Options to avail various add-ons like zero assistance, AT THE TIME OF CLAIM SETTLEMENT, INSURANCE COMPANIES DEDUCT THE DEPRECIATION AMOUNT FROM THE CLAIM, WHICH REDUCES YOUR COMPENSATION
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