Hero Splendor+ I3s Insurence Booking For Ex-showroom Price
Posted inBlog

Hero Splendor+ I3s Insurence Booking For Ex-showroom Price

No Comments

Comprehensive Guide to Booking and Insuring the Hero Splendor+ i3S

The Hero Splendor+ i3S is one of India’s most popular commuter bikes, known for its efficiency, affordability, and reliability. With its intelligent i3S (Idle Stop-Start System) technology, it promises improved fuel efficiency, making it a preferred choice for daily commuters. Whether you’re booking the bike or looking to insure it, this guide provides a detailed breakdown of the process, insurance requirements, and key factors to consider.

Booking the Hero Splendor+ i3S

Steps to Book the Bike

  1. Choose Your Dealer:
    • Visit the official Hero MotoCorp website or your nearest Hero dealership to check the availability of the Splendor+ i3S.
    • Locate an authorized dealer near your location for the booking.
  2. Booking Process:
    • Provide your contact information and bike preferences, including the color and variant.
    • Pay the booking amount (usually between ₹1,000–₹5,000, depending on the dealer).
    • Obtain the booking receipt and ensure you understand the expected delivery timeline.
  3. Documents Required for Booking:
    • Valid ID proof (Aadhaar, PAN, Passport, etc.).
    • Address proof (utility bill, rent agreement, etc.).
    • Passport-sized photographs.
  4. Choose Financing or Full Payment:
    • If you’re opting for a loan, provide additional documents such as income proof, bank statements, and your credit score.

Ex-Showroom Price Breakdown

The ex-showroom price is the base price of the bike without additional charges. For the Hero Splendor+ i3S, the ex-showroom price varies by state, typically ranging between ₹75,000–₹80,000.

On-Road Price

The on-road price includes:

  • Ex-showroom price.
  • RTO registration charges.
  • Insurance premium.
  • Additional charges (handling, accessories, and taxes).

For the Hero Splendor+ i3S, the on-road price typically falls between ₹85,000–₹95,000.

Importance of Insurance for Hero Splendor+ i3S

Bike insurance is mandatory in India under the Motor Vehicles Act, 1988. Beyond legal compliance, it provides financial security and peace of mind. Here’s why insuring your Splendor+ i3S is essential:

  1. Legal Compliance:
    • Every vehicle must have at least third-party liability insurance to legally ply on Indian roads.
    • Riding without insurance can attract fines or legal penalties.
  2. Financial Protection:
    • Covers repair or replacement costs due to accidents, theft, or natural calamities.
  3. Third-Party Liability Protection:
    • Safeguards you from liabilities arising from damages or injuries caused to third parties.
  4. Own Damage Coverage:
    • Protects against damage to your bike due to accidents, theft, fire, or vandalism.

Types of Bike Insurance for Hero Splendor+ i3S

  1. Third-Party Liability Insurance:
    • Covers damages or injuries caused to third parties.
    • Mandatory by law.
    • Does not cover damages to your bike.
  2. Comprehensive Insurance:
    • Offers extensive coverage, including third-party liabilities and own damages.
    • Protects against theft, accidents, fire, and natural disasters.
    • Highly recommended for a new bike like the Splendor+ i3S.
  3. Standalone Own Damage Insurance:
    • Ideal for those with an existing third-party policy.
    • Covers damages to your bike caused by accidents, theft, or other mishaps.
  4. Personal Accident Cover:
    • Mandatory for the owner-driver.
    • Provides financial assistance in case of accidental death or permanent disability.

Factors Affecting Insurance Premiums

  1. Insured Declared Value (IDV):
    • IDV is the market value of your bike and determines the maximum claim amount.
    • A higher IDV means better compensation but increases the premium.
  2. Bike Specifications:
    • The Splendor+ i3S’s engine capacity (97.2cc) and features influence the premium.
  3. Add-On Covers:
    • Additional features like zero depreciation or roadside assistance increase the premium but provide better protection.
  4. Location:
    • Urban areas with higher traffic and theft rates typically attract higher premiums.
  5. Policy Type:
    • Comprehensive policies cost more than third-party insurance due to broader coverage.
  6. Rider’s Profile:
    • Factors like age, riding experience, and claim history affect the premium.
    • A No-Claim Bonus (NCB) can reduce renewal premiums.

Add-On Covers for Hero Splendor+ i3S

  1. Zero Depreciation Cover:
    • Ensures full claim settlement without depreciation deductions.
    • Recommended for new bikes.
  2. Engine Protection Cover:
    • Covers engine damage caused by waterlogging or oil leakage.
  3. Roadside Assistance Cover:
    • Provides 24/7 help for emergencies like breakdowns or flat tires.
  4. Consumables Cover:
    • Covers costs of consumables like engine oil, screws, and bolts during repairs.
  5. Return to Invoice Cover:
    • Offers compensation equal to the bike’s invoice value in case of theft or total loss.

Estimated Insurance Costs

For the Hero Splendor+ i3S, the insurance cost depends on the policy type and add-ons chosen. Here’s an estimate:

  • Third-Party Insurance: ₹800–₹1,200 annually.
  • Comprehensive Insurance: ₹2,500–₹4,000 annually.

Steps to Choose the Right Insurance Policy

  1. Compare Policies Online:
    • Use comparison platforms to analyze premiums, coverage, and claim settlement ratios.
  2. Opt for Comprehensive Coverage:
    • Protects against most risks, making it suitable for new bikes.
  3. Check Claim Settlement Ratio:
    • Choose insurers with a high claim settlement ratio for smoother claims.
  4. Customize with Add-Ons:
    • Select add-ons based on your requirements for enhanced coverage.
  5. Evaluate Policy Terms:
    • Read the fine print to understand inclusions, exclusions, and claim processes.

How to File an Insurance Claim

In case of an accident, theft, or damage, follow these steps to file a claim:

  1. Inform the Insurer:
    • Notify your insurance provider immediately with details of the incident.
  2. File an FIR (if applicable):
    • Lodge an FIR at the nearest police station for theft or major accidents.
  3. Submit Required Documents:
    • Provide documents like:
      • Insurance policy copy
      • FIR (if applicable)
      • Claim form
      • Photos of the damage
      • Repair estimates or bills
  4. Surveyor Inspection:
    • An insurance surveyor will assess the damage before approving the claim.
  5. Claim Settlement:
    • Upon approval, the insurer will reimburse the repair costs or compensate for total loss/theft.

Renewing Hero Splendor+ i3S Insurance

  1. Renew Before Expiry:
    • Ensure timely renewal to avoid a lapse in coverage.
  2. Utilize No-Claim Bonus (NCB):
    • Retain your NCB to enjoy discounts on renewal premiums.
  3. Switch Insurers if Needed:
    • Compare policies during renewal to find better coverage or lower premiums.
  4. Opt for Multi-Year Policies:
    • Save on costs and avoid yearly renewals by choosing long-term plans.

Conclusion

The Hero Splendor+ i3S is an economical and efficient bike designed for Indian roads. Booking your bike and insuring it are essential steps to secure your investment and ensure peace of mind. Choose comprehensive insurance with relevant add-ons to enjoy maximum benefits. Stay proactive with renewals and claim management to make the most of your insurance policy. With the right coverage, you can enjoy a worry-free riding experience with your Hero Splendor+ i3S.

Comments

No comments yet. Why don’t you start the discussion?

Leave a Reply

Your email address will not be published. Required fields are marked *