National Own-Damage Bike Insurance Policy

The National own-damage bike insurance policy provides essential coverage for damages to the insured two-wheeler caused by events such as accidents, theft, natural calamities, or other malicious activities mentioned in the policy documents. This policy accompanies the mandatory third-party bike insurance policy that is required by law, ensuring comprehensive financial protection during several unforeseen instances.

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National Own-Damage Bike Insurance Policy & Key Features

The below table shows the key features of the National own-damage bike insurance policy:

Categories Key Features
Policy Coverage 1. Covers damages to the bike due to accidents, natural calamities, man-made disasters, and other malicious activities.
2. Covers the loss caused to the bike due to theft and fire.
Own-Damage Bike Insurance Premium 1. Premium based on the bike's age, make model, geographical location, etc. However, it is quite affordable.
2. Get bike insurance add-ons by paying extra premiums, such as zero dep cover, engine protection cover, PA cover, etc.
Convenience 1. Receive policy documents with zero paperwork.
2. Convenient buying bike insurance online and renewal process.

*Disclaimer: The above table is for reference purposes only. To know the exact coverage, refer to the National own-damage two-wheeler insurance policy wordings.

Why Choose National Own-Damage Bike Insurance?

As the name suggests, an OD (own-damage) bike insurance plan only covers damages caused to a bike. However, this type of bike insurance policy can be purchased with a compulsory third-party bike insurance policy to receive comprehensive coverage.

There are three compelling reasons to opt for National own-damage bike insurance:

  1. Comprehensive Coverage: It provides extensive protection against damages to your bike beyond what is covered by a mandatory third-party bike insurance policy in a road accident.
  2. Enhanced Financial Security: This policy protects your investment in your bike against unforeseen events such as theft, total loss, natural calamities, and man-made disasters.
  3. 24x7 Customer Assistance: The company offers 24x7 live chat support for customers seeking assistance related to buying, renewing, or raising a bike insurance claim online.

Inclusions of National Own-Damage Bike Insurance

The National own-damage bike insurance typically covers the damages or losses caused to an insured vehicle due to the following instances:

  • Accidents or collisions
  • Theft
  • Fire
  • Natural calamities like earthquakes, floods, etc.
  • Riots and strikes
  • Malicious acts

Exclusions of National Own-Damage Bike Insurance

Exclusions of the National own-damage bike insurance are as follows:

  • Wear and tear
  • Mechanical or electrical breakdown
  • Damage when driving under the influence of alcohol or drugs
  • Non-compliance with legal requirements
  • Third-party liabilities arising in a road accident

How to Buy National Own-Damage Bike Insurance Online?

You can purchase the National own-damage bike insurance online through Policybazaar Insurance Brokers Private Limited with these steps:

  • Step 1: Visit Policybazaar.com and navigate to the Own Damage Bike Insurance button on the 'Insurance Products' drop-down menu.
  • Step 2: Enter the details of your bike and click 'View Prices'.
  • Step 3: Compare various plans available and select the National own-damage bike insurance.
  • Step 4: If necessary, customize your plan with add-ons like zero depreciation cover, engine protection cover, etc.
  • Step 5: Proceed to payment, complete the purchase process, and receive the policy copy at your registered email ID.

How to Raise National Own-Damage Bike Insurance Claims?

To file a claim under the National own-damage bike insurance, follow these steps:

For Cashless Claims

  • Step 1: Contact the insurer's customer service or visit their website to initiate a cashless claim.
  • Step 2: Download the claim form, fill it out, sign it, and submit it with the mandatory documents.
  • Step 3: Follow the insurer's guidance for inspection and repair at the authorized network garage.
  • Step 4: The insurer will pay or settle the repair bills directly with the insurer, as you have chosen a cashless claim process.

For Reimbursement Claims

  • Step 1: Inform the insurer immediately after the incident.
  • Step 2: Fill out, sign it, and submit the claim form with the necessary documents.
  • Step 3: Await approval as the insurer verifies documents, including the estimated repair bill, and checks the assessment report made by the surveyor.
  • Step 4: Send the bike for repairs to any nearby garage and settle the repair bill. Later, the insurer will reimburse the amount to your registered bank account.

Documents Required to Raise National Own-Damage Bike Insurance Claims

The general documents required for raising National bike insurance claims include the following:

  • Duly filled claim form
  • Copy of bike registration certificate (RC)
  • Police FIR in case of theft
  • Repair bills and payment receipts
  • Any other documents as required by the insurer

FAQs About National Own-Damage Bike Insurance Policy

  • Q1. What is covered under National Own-Damage Bike Insurance?

    Ans: It covers damages due to accidents, theft, natural disasters, fire, riots, and malicious acts.
  • Q2. Can I buy National Own-Damage Bike Insurance without a third-party bike insurance policy?

    Ans:

    No, it must be purchased with a mandatory third-party bike insurance policy. However, you have a comprehensive bike insurance policy. In that case, you do not need to buy this policy, as it covers third-party liabilities and own damages in a single policy.

  • Q3. How can I renew my National Own-Damage Bike Insurance policy?

    Ans: You can renew it online through Policybazaar.com or directly through the insurer's website.
  • Q4. Are add-ons like zero depreciation cover worth purchasing with the basic bike insurance policy?

    Ans: Yes, they provide additional financial protection by covering depreciation costs during claims.
  • Q5. What is the tenure of the National Own-Damage Bike Insurance policy?

    Ans: The OD bike insurance policy typically lasts one year and needs to be renewed annually.
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 45 Reviews)

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National Own-Damage Bike Insurance Policy Reviews & Ratings

4.8 / 5 (Based on 45 Reviews)
(Showing Newest 10 reviews)
Harish
Nashik, October 09, 2021
Add on cover
Customization is the best option on the website of Policybazaar. After comparison I bought national two wheeler insurance and with add ons I added additional features under it. I really liked the coverage that is provided in my plan.
Pradeep
Agra, October 09, 2021
Good features
I have saved my savings from getting wasted in unwanted expenses. I took National Two Wheeler Insurance for my bike and It provided me the facility of cashless repair in case of damage to the insured bike due to an accident.
Rimzhim
Ghaziabad, August 18, 2021
Easy payment mode
I have seen so many deals on the various website then i bought a national insurance plan for my vehicle from policy bazaar. i am so satisfied and happy with the services of policy bazaar.online procedure was smooth and making payment was easy.
Ritish
Ludhiana, August 18, 2021
faster claim settlement
I got low cost plan for my two wheeler from National two wheeler insurance which i took from policy bazaar. they are providing me faster claim settlement under my plan.i do not need to go anywhere to track my status i can do this from home itself.
Sakshi
Agra, August 18, 2021
Best deals
I was not satisfied with my previous policy and I talked to my friend about this and my friend suggested me to switch your plan and buy from policy bazaar, you will like their plans.now i am satisfied with my new plan.
Sohan
Gadag, May 10, 2021
Quick and easy claiming process
I was looking for a two wheeler insurance policy for my bajaj pulsar 125. I wanted to purchase a policy which does not require me to run around to get the claiming done. I ended up purchasing the National two wheeler insurance policy because the promise to provide quick claiming process. Thanks team
Divesh
Faridabad, May 10, 2021
Low premium rates
I recently bought a Honda active and I was looking to purchase a two wheeler insurance policy. I went online and went on the policybazaar website. I was amazed to see so many insurance policies and I chose the national two wheeler insurance policy because it fit my budget and the premium rates were low. Thanks guys.
Roma
Hadol, May 10, 2021
Good coverage
I was looking for a two wheeler insurance policy for my Honda shine. I purchased the bike recently and I wanted a policy that could provide cover in case of accident happens. I went on policybazaar and I bought national two wheeler insurance policy because it fit my needs. Thanks team
Rohit
K.c. Pur, March 19, 2021
Numerous Methods to Make Online Payment
I purchased National Two-Wheeler Insurance for my Bajaj Pulsar 150CC bike through policybazaar.com. First of all, I want to say that despite being new at online purchase I did not find any difficulty in online purchase of bike insurance policy as their user interface is very easy, Moreover, policybazaar.com provides numerous options to make an online purchase which includes the use of debit/ credit card, NEFT transfer, using UPI payment, Net-Banking, etc. are to name a few. I used debit card payment and purchased policy without any issue.
Hemali
K.c. Pur, March 09, 2021
Quick and Simple Policy Renewal
I wanted to renew the National Two-Wheeler Insurance policy online and I selected policybazaar.com as a platform. The understandable user interface of this website helped me to quickly renew my policy.

^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