Honda, founded by Soichiro Honda, is one of the leading motorcycle manufacturers in the world. It holds more than half of the Indian motorcycle market share by revenue generated. Honda bikes are known for withstanding the tough terrain conditions of India without losing out on performance. Honda SP 125 is one of those bikes.
As per the Indian Law, you have to get Honda SP 125 two-wheeler insurance policy to financially secure yourself against any mishap that may happen on Indian streets. According to the Motor Vehicles Act of 1988, a vehicle owner should buy a motor insurance policy before they drive their vehicles on roads. IFFCO Tokio can help you with a good Honda SP 125 two-wheeler insurance cover to secure your bike when you drive it on streets.
Bike insurance covers are of 2 types: a basic third-party insurance cover and a comprehensive Honda SP 125 two-wheeler insurance cover. Policy buyers can avail various add-ons with both of these types of insurance covers. IFFCO Tokio provides insurance plans that suit the requirements and fits the budget of everyone.
You cannot be certain about your safety when you drive even if you have full faith on your driving skills as accidents can happen at any time. A Honda SP 125 two-wheeler insurance plan from IFFCO Tokio will financially cover you if a mishap happens unfortunately.
If you buy a third party Honda SP 125 insurance policy, IFFCO Tokio will financially cover you with respect to any damage you cause to a third-party in an accident.
If you buy comprehensive Honda SP 125 bike insurance policy, you will get third-party insurance coverage and other benefits. Your bike will be insured against any damage caused by natural and manmade calamities like earthquake, floods, tsunami, burglary, theft and riots.
You can go to a nearest IFFCO Tokio office and get help from our employees to buy a Honda SP 125 two-wheeler insurance or head over to the IFFCO Tokio website and buy a Honda SP 125 insurance online. The website is easy to navigate and you can buy the insurance policy in few easy steps.
The 2 different ways to buy Honda SP 125 insurance policy are:
Buy Honda SP 125 insurance policy with the help of IFFCO Tokio employees from our offices.
Visit the IFFCO Tokio website and buy Honda SP 125 insurance policy in 3 easy steps:
Visit the website and log in using your name and mobile number. Enter your bike registration number and model number to proceed. When you do this, the website will offer you various Honda SP 125 insurance plans.
Select any one of the Honda SP 125 bike insurance policy based on your requirements and budget. You can even customize the insurance policy by selecting as many add-on covers as available.
Then, you can proceed towards the payment gateway page, and pay Honda SP 125 bike insurance policy money conveniently and safely through online payment methods. In the end, the policy papers will be delivered to your email inbox.
You should buy Honda SP 125 two-wheeler insurance policy online for the following reasons:
You do not need to keep a hard copy of your Honda SP 125 two-wheeler insurance policy. It will be emailed to your inbox instantly.
The whole Honda SP 125 bike policy buying process completes in 3 easy steps.
You can buy a Honda SP 125 insurance policy at a time that is convenient for you.
This would depend on whether you go for a third-party Honda SP 125 insurance policy or a comprehensive insurance policy.
Here are some recommended add-ons that can widen the coverage of your Honda bike insurance policy.
Zero depreciation cover
Zero-depreciation cover pays the entire claim amount without deducting depreciation value at the time of settling the claim.
No claim bonus protection
This add-on keeps your no claim bonus safe even if you made a claim in the previous year.
Return to invoice
If your vehicle is deemed a total loss, the add-on cover helps you get the original invoice price of the vehicle, including road tax and registration charges.
These are some of the standard exclusions of a bike insurance policy in India.
Damage to accessories
Damage due to the driver’s negligence
Wear and tear of the bike
Damage during war and similar conditions
Mechanical or electrical breakdown
Damages while riding under the influence of drugs or alcohol
Types of bike insurance we provide:
Third-party Honda SP 125 two-wheeler insurance policy only covers any damage to a third party, including death, bodily harm, injury, and damage to a property in case of an accident or collision involving your bike.
Comprehensive Honda SP 125 two-wheeler insurance policy covers both third-party liabilities as well as own damage to your bike. It also covers both natural and man-made calamities. These comprehensive Honda SP 125 two-wheeler insurance plans also allow you to include add-ons for a wider coverage!
You can also include the zero-depreciation cover to your comprehensive Honda SP 125 two-wheeler insurance policy. This will ensure that in case of an accident, you get complete reimbursement for part replacements without any deduction for depreciation. Great, isn’t it?
You should be aware of the following bike insurance terms before you buy the Honda SP 125 two-wheeler insurance policy.
Premium is the cost of your Honda SP 125 insurance policy. It is the amount you have to pay to enjoy bike insurance coverage. It is usually payable annually, except for the case of long-term Honda SP 125 two-wheeler insurance plans, where it is usually paid once every 3 years.
The financial protection provided by your Honda SP 125 two-wheeler insurance policy is known as coverage. The coverage of a bike insurance policy will vary based on the insurance provider and the type of Honda SP 125 two-wheeler insurance plan you purchase
Add-ons are extra amounts of financial protection that you can purchase to widen the coverage of your Honda SP 125 bike insurance policy.
IDV stands for Insured Declared Value. It is the listing price of your bike minus depreciation. In case of a total loss or theft of your bike, IDV is the maximum compensation your insurance provider will offer.
NCB is a discount you get when you renew your plan after a claim-free year. This discount will keep increasing for every claim-free year. You can avail a maximum discount of 50% year after year for not making any claims against your Honda SP 125 insurance plan.
It’s simple! Just use our bike insurance premium calculator. This online tool allows you to check the premium of your Honda SP 125 two-wheeler insurance policy using some very basic information. To calculate the premium of your Honda SP 125 insurance plan, you must provide the following details:
Our bike and scooter insurance plans are like an extension of your protective gear. They keep you safe, wherever the road might take you! From the headlight to the tail-lamp, we’ve got you covered!
We use innovation and technology to provide you quicker and more convenient insurance solutions. For example, your policy can be issued instantly through our distribution channels. You can also use our QCS (Quick Claim Settlement) App to accelerate your claim process and get up to Rs. 20,000 transferred to your bank account within a few minutes - all with just a few clicks on your smartphone.
With close to 20 years of experience in the insurance industry, we have settled more than 8 lakh claims (in FY19) with a settlement ratio of 95.80% (in FY21). This is just one of the reasons why 1,00,000+ individuals entrust us for their bike insurance needs.
4300+ Network Garages
We provide cashless services in more than 4300 garages, which are evenly spread across the country.
Quick Claim Settlement
We offer a QCS facility under which bike insurance claims get settled seamlessly within minutes.
Trusted Brand
For 20 years, we have been servicing our customers with a wide range of insurance policies.
Claims Experience
We’ve settled a total of 8.61 lakh claims in FY2019 and have a claim settlement ratio of 95.80%.
Award Winning Protection
IFFCO-Tokio won the 2019 IDC Digital Transformer Award for India for AI-based claim assessment of damaged vehicles. We have also won the BFSI Digital Innovation Award by Express Computers, Indian Express Group, as well as the Digital Insurer of the Year 2019 by Insurance Asia News Awards for Excellence.
Wide Network of Branches
Our policies can be brought from more than 20,000 agents and branches having a wide presence throughout the country.
