National Insurance Two Wheeler

National Insurance Two Wheeler Policy Overview

National Insurance Company, India's one of the largest and oldest general insurance company which provides tailor-made and comprehensive insurance plans. It's the only Public Sector General Insurance Company to introduce product customization both Corporate and Rural insurance plans. General Insurance of this Group is an important sector where the company promises to deliver a product which meets the requirements of a common man. Multiple insurance plans like Motor Insurance Plans, Two wheeler insurance plans, Health Insurance Plans, Rural Insurance Plans, Industrial Insurance Plan, Commercial Risk Insurance Plans, Personal Accident Plans, Home Insurance Plans for Individuals and other types of insurance too which are tailor-made and customer friendly and completely transparent.

Here we will discuss the National Insurance Two-wheeler Insurance Plans

Why Two Wheeler Insurance Plans are necessary?

Two wheeler vehicles are always treated as an important asset in our lives. But again driving a two-wheeler is always dangerous and really risky and one has to be careful and cautious always. But accidents might happen at any point of time due to someone else not following the traffic rules or due to some untoward incidents. And that is why one should avail auto insurance plans to protect oneself and to cover from all unexpected expenses. Not only this, but natural calamities can also occur at any point of time and hence protection/security against such unpleasant incident is also of utmost importance. Hence to avail, car insurance plan is of utmost important because:

• Protecting one’s two-wheeler vehicle, one of the most important assets and investment
• The plans allow the payment of medical bills in case of an accident
• In case of an accident-related lawsuit the insurance company will take care if there is a car insurance plan availed
• The plan protects the assets which one has worked hard for from being lost due to the lawsuit. And the plans ensure the best to be given to the insured person
• The car insurance plan not only pays for accidents and natural calamities but also for theft and vandalism. The plans are very well designed and they are tailor-made to take care of the requirements
• Last but not the least; one has the peace of mind when he goes out with his two-wheeler. He/she know that he has the car insurance plans which will take care of him and the car in case of any unforeseen circumstances

Each and every two-wheeler owner should have an insurance plan which gives the coverage of the third party injury, death or property damage. Hence, National  Insurance provides a comprehensive two wheeler insurance plans which protect the vehicle from any untoward incidents. One should choose the two-wheeler insurance plans very carefully so that the plans cover all the protection that one needs for his vehicle and for oneself.

Why National Insurance Two Wheeler Insurance Policy?

National Insurance Two-wheeler Insurance Plans have certain unique features and benefits which are as follows:

• Low-cost insurance plans with the best of the tailor-made coverages
• Fast and hassle-free cashless claim service
• No Claim Bonus is also available
• Swift and faster claim settlement process
• Tracking of claim status online
• Existing No Claim Bonus can be transferred from any other insurer

Here we will see an overview of National Insurance Two Wheeler Insurance Plan.

National Insurance Two Wheeler Policy Coverage

There are two types of covers that are available under the plan which are namely :

• Liability Only Cover: This plan covers any legal liability after an accident. It covers the below-mentioned risks:
• Package Cover: Under this plan, it covers all the liabilities as per the Motor Vehicles Act, as well as the damages caused to the vehicle. It’s a comprehensive Motor Plan which covers both third-party risks and loss/ damages to one’s own vehicle , co-passenger or self. The plan covers Own Damage to the Insured Vehicle caused due to the following:
  • Injury or Death of Third Party
  • Property Damage ( Third Party Property Damage up to Rs. 7.5 lakhs)

• Burglary, Housebreaking or Theft: This plan covers the loss or damage burglary, housebreaking or theft.
• Fire, Explosion, Self-Ignition or Lighting: This plan covers the expenses which is uncured under fire, explosion. Self-ignition as well as lighting.
• Malicious Act: The  Plan covers even the Malicious act as well.
• Terrorist Act: The  Plan covers the human activity of Terrorist Act also.
• Riot and Strike: Under this plan, the riots and strike are also covered.
• Earthquake & Fire: Both earthquake and fire are treated as the most common phenomenon in a life cycle and hence this plan covers these two important unpleasant incidents also.
• Accidental by external means.
• Natural calamities like flood, typhoon, hurricane, storm, cyclone, hailstorm, tempest and Inundation are also covered under this plan.
• Landslide or Rockslide are covered under the Package Plan.

Subject to a deduction of depreciation at the rates as mentioned below with respect to the parts replaced:

i) For all rubber/ nylon/plastic parts, tires, tubes and batteries- 50%

ii) For fibreglass components- 30%

iii) For all parts made of glass- Nil

iv) Rate of depreciation for all other parts which includes wooden parts as well as per the below mentioned schedule:

The important exclusions are as follows:

• Consequential loss
• Wear and tear
• Mechanical or electrical breakdown failures or breakages
• Driving with invalid driving license and with consumption of alcohol
• Loss due to civil war, war
• Usage beyond private purposes and limits
• Usage beyond specified borders
• Damage to tyres and tubes unless the two-wheeler is also damaged at the same time and under this plan, the company will pay only 50% of the cost of replacement
• Loss or damage to accessories due to burglary housebreaking or theft
• Any accidental loss due to the consumption of alcohol, drugs

This plan covers the towing charges as well from the incident place to the garage or the workshop to the tune of Rs 300/- with respect to any one accident. The company will pay the cost which is reasonable. The insured may authorize the repair of the vehicle provided:

• The estimated costs of the repair which includes replacement as well do not exceed Rs 15/-.
• A detailed estimated statement is furnished to the company.

Insured Declared Value (IDV)

IDV or the Insured Declared value is the Sum Insured of a vehicle. The IDV is derived from the producer’s selling price of a car of the similar specifications and from this value, the relevant amount of depreciation is deducted based on the age of the vehicle. IDV of vehicles which are beyond 5 years of age and are treated as obsolete models, there the IDV is to be determined on the basis of the consideration between the insurer and the insured.

Schedule of depreciation for fixing the IDV of the vehicle 

IDV of vehicles beyond 5 years is treated as obsolete models and the same arrives after a mutual understanding between the insured and the insurer.

Section II -Liability to Third Parties

The Coverage of third party liability for bodily injury and or death are also covered under this plan.

• Death or bodily injury to any person including the occupants in the insured vehicle
• Damage to property other than the property of the insured person or held in trust or in custody or control of the insured
• The company will pay all the costs with a written consent
• The company will cover the loss for any driver who is driving the vehicle on the insured’s order or permission provided the terms and conditions are met
• In the event of death, the company will indemnify the personal/ legal representative
• The company at its own discretion may arrange for representation at any Inquest or Fatal injury with respect to death under this plan. Also, the company may undertake the defence of proceedings in any Court of Law

Section III - Personal Accident Cover for owner-driver

The company compensates the loss as per the below grid for bodily injury or death of the owner-driver while driving caused by violent accidental external and visible means. The insurer offers personal accident cover up to Rs. 15 Lakh.

Provided:

• The compensation will be payable under any one of the above as listed with respect to the owner diver arising out of any one occurrence
• No compensation will be entertained due to to intentional self-injury suicide or attempted suicide physical defect or infirmity and consumption of alcohol or drugs.

Exclusions under National Insurance Two Wheeler Policy

There are a few general exclusions which are there in National General Two Wheeler Insurance Plan. The company will not be liable to grant cover in any of the following events or incidents happening:

• Any loss or damage and liability caused to the vehicle due to willful negligence
• Any loss or damage and liability caused to the vehicle outside the geographical boundary as laid down in the policy document
• Any claim arising due to a contractual liability
• Damage/ loss caused or liability incurred  due to
• The insured vehicle is driven or being used outside the limitations mentioned  in the plan or
• Being driven by an unauthorized person other than the Driver as stated in the Driver’s Clause
• Damage/ loss caused or liability caused due to nuclear weapons material
• Damage/ loss caused or liability caused due to damage to property resulting from any consequential loss
• Damage/ loss caused or liability caused directly or indirectly from radioactive contamination or ionizing radiations from any nuclear power or nuclear waste or materials
• Accidental loss/ damage/ liability due to war or warlike activities, hostilities, invasion, civil war, military power, mutiny rebellion, acts of foreign enemies and events arising out of the mentioned occurrences
• Consequential loss, depreciation, wear and tear, mechanical or electrical breakdown

Procedure to Claim National Insurance Two Wheeler Policy

The claim service of the company is highly efficient and of a high standard. One can make 24x7 claims notification. Timely customer service and assistance along with the survey and further assistance within a day. Simple claims procedure and ensuring high customer satisfaction.

• Call at the toll-free no of the company and lodge the claim. The following information’s are to be provided:
  • Policy Number
  • Date and time of the accident
  • Estimated loss/ description
  • Survey location where the vehicle can be surveyed by our loss assessor
  • Name of the driver with contact no and his/ her driving license details
  • Insured Contact Details
  • Claim representative will contact the insured person for further process
  •  Claim representative will provide the claim reference number for future reference
  • After the claim gets submitted and the same is approved, a text message will be sent intimating the surveyor details
  • A Surveyor is appointed to assess the loss of the insured vehicle and inspection of the same. Post which the approval is given and the insured is intimated about the claim status
  • The Surveyor will contact for a suitable time for a survey and will conduct the survey
  • After this, one can contact at CHD / Surveyor when the vehicle is ready for inspection

Documents needed to register a claim National Insurance Two Wheeler Policy

Documents which are to be submitted at the time of registering a claim are as under:

• Duly Filled Claim Form
• Copy of Driving License
• Certificate of Registration
• Police FIR
• Motor Insurance Policy with schedule and endorsement/ clause
• Copy of the plan and receipt of payment of premium
• Fitness certificate( Commercial Vehicles only)

Contact

• One can contact at the toll-free number of the company

 National Two Wheeler Insurance - FAQs

Q1. How to pay a premium? What are the modes of payment available?

The National Insurance Company offers 2 modes of premium payment namely:

• Cash payment at the branch
• Online Payment

For the online payment mode, the policyholder can pay via;

• Credit Card,
• Debit Card
• Net banking

Q2. How can I check policy status for National two wheeler insurance?

To check the policy you can log into thee-Portal with your valid credentials.

Q3. What is the policy renewal process for National two wheeler insurance?

Registered policyholders can pay online in 3 easy steps
Step1: Enter your Policy Number and Date of Birth to login into e-portal
Step2: Select the payment option- Debit/Credit Card or Net Banking
Step3: Print/save the premium deposit receipt upon successful payment
Alternatively, you can renew by Mobile

Q4. What is the company's process to settle the claim for National two wheeler insurance?

You need to fill the claim form and attach it with relevant documents to the Policy issuing office either directly or by an authorized Agent. Upon satisfactory evaluation, the claim will be settled in full within a few days.

Q5. What is the policy cancellation process for National two wheeler insurance?

Walk into your nearest branch with your policy documents and a duly filled surrender form. Upon successful acceptance at the counter, your policy will be canceled and refunds directly credited in your bank account.