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Harley-Davidson India, which is a subsidiary of Harley-Davidson, launched its operations in India in August 2009. The company appointed its first automobile dealership the following year in 2010. The popular bike manufacturer offers a number of motorbike models across each of its platforms, i.e. Harley-Davidson Street, Sportster, Softail, Touring, and CVO. This premium range of motorbikes offers noteworthy performance and features to riders. Read on to know how you can secure your Harley-Davidson motorbike with a two wheeler insurance policy.
The various motorbike models that are offered by Harley-Davidson in India are as follows:
Although the Motor Vehicles Act, 1988 only makes it mandatory for vehicle owners to purchase a third-party liability insurance policy, it is always advisable to purchase a comprehensive 2 wheeler insurance policy, especially if you have an expensive two-wheeler like one of the Harley-Davidson motorbike models.
A comprehensive policy not only gives you a third-party liability cover but also provides extensive coverage against accidents, vehicular damage, theft, and so on. Also, given how expensive this motorbike is, you can enhance the basic policy with add-ons like the Zero Depreciation or Nil Depreciation Cover, Personal Accident Cover for the Pillion Rider, etc.
Individuals who own a Harley-Davidson motorbike can purchase either a third-party liability-only insurance cover, an annual comprehensive bike insurance policy, or a long-term comprehensive two wheeler insurance policy, based on their coverage needs. The features and benefits of each of the three types of two wheeler insurance policies are listed below:
Like the name suggests, this type of insurance policy provides coverage against third-party liability arising due to an accident. Due to the limited coverage, this policy costs lesser than the comprehensive two wheeler insurance cover. The premium rates for the third-party liability-only insurance policy are decided by the Insurance Regulatory and Development Authority of India (IRDAI). Third-party liability-only insurance policies provide coverage for the following:
This type of policy, as the name suggests, provides a more extensive coverage to the policyholder. The policy tenure, however, is limited to one policy year, after which it will be have to be renewed. Each time the policy is renewed, the concerned policyholder stands to avail a No Claim Bonus in case he/she did not raise any claims during the policy year. The inclusions under this policy are as follows:
The long-term two wheeler insurance policy provides coverage to the policy buyer for a period of two or three years. During this tenure, the third-party premium remains constant. Policyholders are eligible to receive a No Claim Bonus at the time of renewal, in case no claims are made. Further, in the event of a claim, the No Claim Bonus gets reduced, rather than becoming nil. The inclusions under this policy type are as follows:
*Note: The inclusions for all three types of bike insurance policies will vary based on the insurer’s terms and conditions.
*Note: For the complete list of exclusions, make sure to refer to your policy brochure.
An accident, theft, or vehicular damage due to either natural or man-made events, in addition to being extremely distressing for the vehicle owner to undergo, can also cause one to incur significant expenses, especially if the vehicle is a premium Harley-Davidson motorbike. Thus, in order to protect yourself and your vehicle from untimely events, it is necessary to purchase a two wheeler insurance policy. Further, by purchasing a two wheeler insurance policy for your vehicle, you will also be complying with the guidelines of the Motor Vehicles Act, 1988.
A few of the many benefits of purchasing a two wheeler insurance policy for your Harley-Davidson are as follows:
Given how important it is to purchase a bike insurance policy for your Harley-Davidson motorbike, you should make sure to do your due research and compare a few different policies before selecting any policy. It is recommended that you also use the premium calculator tool, which you will find on the official websites of motor insurance providers, to get an estimate of the premium rate for the policy. You can also choose to use a trusted third-party insurance comparison website to compare various two wheeler insurance policies side-by-side. You should, ideally, purchase a two wheeler insurance policy from an insurance company that offers you sufficient coverage at a competitive price.
Harley-Davidson announced its plans with respect to the two-wheeler market, for the near future. Along with introduction of new categories and products, the company also plans to expand and improve its dealer network. The aim of the company is not only to cater to the demands of the existing loyal customers but also to create new products for the future generation. The company plans to bring in new categories in the middleweight i.e. 500cc and 1250cc as well as the small displacement i.e. 250cc to 500cc segments. The new and ambitious bikes that are expected to be launched are Harley-Davidson Pan America – Adventure Tourer 1250, Harley-Davidson 1250 Custom, and Harley-Davidson LiveWire electric-motorcycle. Many new models like those mentioned above will be launched and variants of the same will be released through the year 2022. Small and light vehicles that will be more suitable for new riders will be designed to broaden the portfolio of the company. The company also plans to establish alliances with retail chains and e-commerce providers.
1 August 2018
Motorbike giants Harley Davidson plans to target young bikers in India and China by introducing bikes in the small and medium-sized segment and directly compete with Royal Enfield which has the biggest market in India.
The bike company also plans to forge a strategic alliance with an Indian motorcycle company in order to sell more motorbikes in India.
The reason behind Harley’s decision to enter the market for small and medium-sized bikes is to expand their customer base and sell more bikes in India. The country is one of the fastest growing and the largest markets for motorbike companies.
Harley Davidson will look to give close competition to Royal Enfield which is currently the market leaders in India as has almost no competition whatsoever from other bike manufacturing companies.
1 August 2018
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