An imported motorcycle isn't a mode of transportation. It stands for exclusivity, superior engineering expertise, and hybrid performance. These bikes come with the most advanced technology, which means the rider enjoys a different experience on the road. Insurance for imported motorcycles is different from that of typical two-wheeled vehicles. 

It’s because it’s more expensive, needs more costly repairs, and the spare parts are not readily available. In this article, we will understand these bikes' coverage types, premium calculations, and policy exclusions.

Imported bike insurance is a special policy for foreign-made bikes imported into India. They arrive in complete or assembled locally as Completely Knocked Down (CKD) units. It differs from regular bike insurance in insuring high-end models, costly spare parts, and advanced repairs.

Imported bikes are of two categories:

Completely Built Unit (CBU)

The bikes are made and assembled outside India and imported to India. CBU bikes are subject to more import duties and insurance fees.

Completely Knocked Down (CKD)

These motorbikes are imported to India in parts and locally assembled. Since CKD models involve local assembly, they attract less import duty and less insurance charges than CBU models.

An imported bike insurance covers damages or harm caused to third parties. It does not cover damage to your bike or harm to you. This provides financial cover against legal claims in the event of an accident. Here are the coverages that come under imported bike insurance:

Own Damage Cover

It reimburses loss or damage to your bike due to accident, fire, theft, and artificial or natural calamities. The insurance provides financial reimbursement against replacement charges.

Personal Accident Cover

It provides financial coverage in a bike accident. The policy covers accident-related expenses and compensates the policyholder for damages or losses.

Theft Protection

Pays loss if your imported bike gets stolen within the declared insured value (IDV). It's mandatory coverage because the price of imported bikes is very high. It pays the amount so that you won't lose money.

Damage Due to Transit

It includes damage that occurs while transporting the bike. Risks to transport are unforeseen accidents, natural disasters, or physical mishandling by error.

Familiarity with the factors influencing premiums makes estimating the cost of insurance fees easy. Thus, it helps to choose the best-suited policy. Here's a breakdown of the key factors:

Bike's Value and Model

Imported high-end bikes, such as those with top-quality parts, which makes them expensive to insure. Their advanced technology, skilled maintenance, and high repair costs increase premiums. These bikes need expert repairs, which raises insurance costs.

Import Type (CBU vs CKD)

Completely Built-Up (CBU) bikes are produced entirely and later exported overseas. They receive higher insurance and import duties. Completely knocked-down bikes are shipped outside and assembled locally, so they are cheap.

Engine Capacity

Imported superbikes have larger engine sizes above 500cc, which influences insurance prices. These bikes have a higher chance of being in serious accidents, and since they are high-performance machines, insurers pay more in claims for possible damage.

Choosing the Right Policy

While buying insurance for an imported motorbike, the motorcyclist has to select a policy with proper coverage at a reasonable price. Imported bikes are expensive to repair and come with unique risks. Therefore, one must research insurance plans thoroughly. 

Spare Parts Availability

Imported bike spares are not readily available. Since spare parts have to be imported from foreign dealerships, insurance companies consider high replacement costs. Unavailability raises the possibility of delayed repair, which leads to high claims.

Getting the right bike insurance policy is more than choosing the cheapest option. A well-balanced policy ensures you have adequate coverage without overspending. Here are some key tips to help you get the best coverage:

Compare Policies from Multiple Insurers

Coverage and premiums vary with insurers. Comparing policies ensures the best price for coverage and cost, and it helps you avoid getting scammed while purchasing a premium. 

Opt for a Comprehensive Policy

Costly imported bikes and third-party cover are insufficient. Instead, a comprehensive policy covers damage, theft, and accidents for increased protection, which extends your bike's safety. 

Consider Add-On Covers

For maximum protection, choose useful add-ons like:

• Zero Depreciation Cover: Offers complete claim settlement without deducting the bike's original price.
• Engine Protection Cover: Shields engine damage due to waterlogging or accidents.
• Return to Invoice Cover: Offers complete compensation for a vehicle's total loss on theft or accident.
• Roadside Assistance: Offers breakdown, towing, and flat tyre services.

Verify Insurer's Network of Garages

Imported bikes should be repaired well in approved workshops. Choose an insurer with authorised workshops for convenient and cashless repairs.

Disclose Correct Details to the Insurer

Providing incorrect facts about the bike, such as the import status or any modifications, can lead to claim rejection. Always give accurate details when buying the policy.

Look for Discounts and No Claim Bonus (NCB)

A clean driving record helps you get an NCB discount. Avoid making claims to save on premiums. Installing an anti-theft device also lowers insurance costs.

Understand the Policy Exclusions

Read the policy documents well to understand exclusions such as:

• Wear and tear, mechanical or electrical breakdown.
• Riding under the influence of alcohol or drugs.
• Racing or riding carelessly in breach of the law.
• Loss resulting from misuse or alteration not communicated to the insurer.