National Insurance Two-Wheeler Policy
National Insurance Company Limited (NIC), India's largest and oldest general insurance company, provides tailor-made and comprehensive bike insurance plans. Read on to learn about National insurance two-wheeler plans in detail.
National Insurance Two-wheeler Policy – Key Features
Below are the key features of the National bike insurance policy-
|Two-wheeler Network Garages
|Claim Settlement Ratio (CSR)
|93.0% (as per the IRDAI motor insurance annual report 2021-22)
|Personal Accident (PA) Cover
|Up to Rs. 15 Lakh
Why Choose National Insurance Two-wheeler Policy?
National Insurance two-wheeler plans come with the following benefits:
- Online two-wheeler insurance purchase and renewal
- Provides two-wheeler insurance coverage along with personal accident cover for co-passengers for up to Rs. 1 lakh
- Affordable plans with tailor-made coverages
- Fast and hassle-free cashless claim service
- No Claim Bonus (NCB) is also available
- Swift and speedier claim settlement process
- Tracking of claim status online
- Existing No Claim Bonus (NCB) can be transferred from any other insurer.
National Bike Insurance Coverage
There are two types of two-wheeler insurance policies offered by National Insurance Company Limited-
National Insurance Liability Only Cover: This plan covers any legal and financial third-party liability after an accident. It covers the below-mentioned risks-
- Injury or Death of Third Party
- Property Damage (Third Party Property Damage up to Rs. 7.5 lakh)
Liability to Third Parties
- The coverage of third party insurance for bodily injury and/or death is also covered under this plan.
- Damage to property other than the insured person's property or held in trust, custody, or control of the insured.
- The company will pay all the costs with written consent.
- In the event of the death of the third party, the company will indemnify the personal/legal representative.
- At its discretion, the company may arrange for representation at any inquest or fatal injury concerning death under this plan. In addition, the company may defend proceedings in any Court of Law.
National Insurance Two-wheeler Package Cover: This plan covers all the liabilities and the damages caused to the owner's vehicle. It is a comprehensive motor insurance plan, which covers both third-party risks and loss/damages to the two-wheeler and the owner of the insured bike.
Inclusions under National Insurance Two-Wheeler Policy
The plan offers compensation to the insured vehicle in the following instances:
- Loss or damage due to burglary, housebreaking, or theft.
- Covers the accidental damages caused to the insured two-wheeler.
- Cover the expenses causing damage due to fire, explosion, self-ignition, or lighting.
- Any loss or damage due to malicious acts or terrorist activity.
- Any loss or damage caused by earthquake and fire.
- Loss or damage caused due to riots and strikes.
- Covers the damage or loss due to natural calamities like floods, typhoons, hurricanes, storms, cyclones, hailstorms, tempests, and inundation.
- Landslides or rockslides are covered under the package plan.
- Covers mandatory third-party liabilities.
Exclusions under National Insurance Two-wheeler Policy
The company will not be able to provide cover for any of the following events:
- Any loss or damage and liability caused to the vehicle due to willful negligence.
- Any loss or damage and harm caused to the vehicle outside the geographical boundary as laid down in the policy document.
- Any claim arising due to contractual liability.
- Damage/loss caused or liability incurred when the insured vehicle is driven or used outside the policy's boundary.
- 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, 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 from the mentioned occurrences.
- Consequential loss, depreciation, wear and tear, mechanical or electrical breakdown.
National Insurance Two-wheeler Renewal Process
Every bike insurance needs to be renewed before its due date. If the policy is not renewed on time, the policyholder cannot raise any claims and will lose policy benefits, such as the No Claim Bonus. The good part is that the national insurance bike renewal can be done online. Besides, the process is straightforward and effortless. Have a look at National insurance bike renewal process below:
- Step 1: Go to the bike insurance policy renewal section on the website of the insurer.
- Step 2: Enter the previous policy number as well as details of the policyholder
- Step 3: Review the two-wheeler insurance plan to be purchased
- Step 4: Choose the add-on covers to be bought
- Step 5: Make a payment towards National Insurance bike renewal online
- Step 6: Once the payment is successful, the policyholder will be intimated about policy renewal.
How to Raise National Bike Insurance Claims?
The claim service of the company is highly efficient and easy. One can make raise 24x7 claims at their convenience. Call the company at the toll-free no. and lodge the claim. However, you need to provide the following information to process your National bike insurance claims:
- Policy Number
- Date and time of the accident
- Estimated loss/ description
- Survey location where the loss assessor can survey the vehicle
- Name of the driver with contact no. and their driving license details
- Insured Contact Details
National Bike Insurance Claim Process
- Step 1: The claim representative will contact the insured person for further processing.
- Step 2: The claim representative will provide the claim reference number for future reference.
- Step 3: After the claim gets submitted and the same is approved, a text message will be sent intimating the surveyor's details.
- Step 4: A Surveyor is appointed to assess the loss of the insured vehicle and inspection of the same.
- Step 5: After this, one can contact the CHD/surveyor when the vehicle is for sending the bike to garage for repairs.
Documents Required for National Insurance Two-wheeler Policy Claims
The following is the list of mandatory documents required to raise claims under the National two-wheeler insurance policy:
- 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
You may also read National Insurance Two-wheeler Policy Download
Explore National Bike Insurance
National Two-wheeler Insurance Policy- FAQs
Ans: 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
Ans: You can log into the portal with valid credentials on the insurer's official website to check the policy status.
Ans: Registered policyholders can pay online in 3 easy steps-
Step1. Enter your Policy Number and Date of Birth to login into the e-portal on the official website of the insurer
Step2. Select the payment option- debit/credit card or net banking
Step3. Print/save the premium deposit receipt upon successful payment.
Ans: You must fill out the claim form and attach it with relevant documents online. Do it with the help of an authorized agent. The claim will be fully settled within a few days after a satisfactory evaluation.
Ans: 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 cancelled, and refunds will be directly credited to your bank account.
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National Insurance Two-Wheeler Policy Reviews & Ratings
^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.
^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.
#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.
*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)
#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.
*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis