Reliance Two Wheeler Insurance

Reliance Two wheeler insurance by Reliance General Insurance Company Limited is a pioneer in the bike insurance sector and is a part of Reliance Capital Ltd. One of the leading companies in the general insurance business, Reliance General Insurance Company has carved out space in the industry. The company deals in different types of non-life business which also includes two-wheeler insurance.

Features & Benefits of Reliance Two Wheeler Insurance

All Reliance two-wheeler insurance plans have some basic features which are mentioned below:

  • There are two types of variants in which the two-wheeler Insurance plan can be issued. One is the Third Party Liability Only policy and one is the Package Policy
  • A third party liability policy is a mandatory policy as per law and would provide only the basic coverage. This policy will cover any sort of bodily injuries or death which an individual different from you might suffer as a direct result of your vehicle, any damages to any other individual’s vehicle whether it is a two-wheeler or a four-wheeler and also any damage to any property due to your vehicle. This policy does not cover any ensuing damages to yourself or your vehicle
  • A comprehensive package policy will cover all the facets of a Third Party Liability policy and will also provide coverage to you if you suffer any injuries and also your motorbike if it is damaged or stolen. This is the reason it is called a package policy.
  • The two-wheeler insurance plan, whether it is issued as any variant, will be issued for a period of 1 year and after the completion of this tenure, the plan has to be renewed.
  • The premium of this policy would depend on the Insured Declared Value of your vehicle, which is also called IDV in short. Various companies compute different IDVs and the premium is directly proportional to the IDV

Advantages of buying a Reliance Two-wheeler insurance plan

The two-wheeler plan offered by Reliance General Insurance offers a host of advantages in the form of additional features. The following are the advantages of availing a plan from Reliance General Insurance.

  • There are additional add-on covers available under the plan which offers the facility of enhanced coverage and customization of the plan.
  • Personal accident cover of 15 lakhs
  • There is a facility of cashless claim settlement across preferred 159 network garages
  • The company specializes in servicing of claims and their settlement in the fastest possible time. The claim settlement process adopted by the company is hassle-free and simplified.
  • The insurance plan can be bought or renewed online through an easy and fast application process. The customer simply has to visit the company’s website and choose ‘motor insurance’ tab under which a Two-wheeler insurance plan is offered to the customers online
  • The company provides a 24*7 telephone support and assistance to deal with claims raised by customers which is available even on holidays
  • A No Claim Bonus is given to policyholders for every claim-free year. The bonuses accumulated for subsequent claim-free years. The rate of the No Claim Bonus offered by the company is 20% for the first year, 25% for two consecutive years, 35% for three consecutive years, 45% for 4 consecutive years and 50% for five consecutive years.
  • There is also a concept of voluntary deductibles which can be chosen by the policyholder to lower the premiums payable. A deductible of Rs.500 to Rs.1500 can be chosen thereby lowering the premium by 5%-20% or by Rs.50 to Rs.200

Scope of Coverage in Reliance Two Wheeler Insurance

The following contingencies are covered for in the two-wheeler insurance plan offered by Reliance General:

  • Fire, self-ignition or lightning, explosion, earthquake, typhoon, flood, hurricane, tempest, storm, inundation, hailstorm, cyclone, etc. which are natural events and can cause any damage to the vehicle
  • Man-made causes which incur a loss for instance theft, riot, burglary, strike, accident through external means, malicious act, damage to the two-wheeler in transit by inland waterway, road, rail, lift, elevator or air or terrorist activity
  • A third party cover which covers damages made to third party or property and which is legally mandatory in nature.

Exclusions under the Reliance General Bike Insurance plan

The plan does not cover the following damages incurred on the vehicle

  • Wear and tear and general aging of the two-wheeler
  • Any sort of electrical or mechanical breakdown
  • Situations where the vehicle is used against its limitations
  • Depreciation and its consequential loss
  • Damage to or by a person driving the vehicle without having a valid driving license
  • Any damage is done to the vehicle or by the vehicle if the person is driving under the influence of alcohol
  • An amount of compulsory deductible payable by the policyholder in cases of claim

Documents required for Reliance Two Wheeler Insurance

No documents are required to be submitted under the plan but the policyholder has to provide the following details to avail of the plan:

  • Registration Number
  • Engine Number
  • Chassis Number
  • Previous Policy Number, if applicable
  • Vehicle Manufacturing Date
  • Date and city of purchase
  • Contact details of the policyholder
  • Copy of the vehicle’s RC Book

Add-on Covers under Reliance General Two Wheeler Insurance

The plan offers two kinds of add-on covers to enhance the coverage. The following add-on covers are available under the plan:

Nil Depreciation Cover - This cover provides protection against the reduction in the value of the vehicle owing to the depreciation of the vehicle. At the time of claim, a major proportion of the deduction in the claim is charged based on the age and the value of the depreciated parts which are replaced. With this cover, no deductions are done on the car’s parts, except tyres and tubes. However, certain things have to be kept in mind before opting for this cover:

  • The coverage is offered only on rubber, nylon and plastic parts and fiberglass components of the vehicle
  • Vehicles of a maximum age of 2 years can only be covered
  • A maximum of 2 claims per policy period is available under the cover
  • The extra coverage can be added at the time of purchase of a new vehicle or at the time of renewal
  • Only two-wheelers are covered under the cover
  • The claim under the cover is settled by the company only if the repairs are done by or at authorized dealers or workshops
  • Indemnity to total loss, constructive total loss or theft claims are not granted under the cover
  • Tyres and tubes are excluded from the scope of coverage and so are the parts not approved by the Motor Insurance Policy

Personal Accident Bundle Cover: The Company offers personal accident bundle cover which provides for cover in cases of death or permanent disablement of the plan buyer in any part of the world irrespective of the driver of the vehicle. The amount of sum insured differs depending upon the type of physical damage caused to the plan buyer. The list of benefits and the sum insured amount is given below:

  • In cases of death or permanent total disability, the company gives a compensation standing at the rate of 100% of the capital sum insured which is fixed at Rs.5 lakhs.
  • In case of loss or physical separation of two limbs or loss of sight for both eyes, the company gives a compensation standing at the rate of 100% of the capital sum insured which is fixed at Rs.5 lakhs.
  • In case of loss or physical separation of one limb and loss of sight of one eye, the company gives a compensation standing at the rate of 100% of the capital sum insured which is fixed at Rs.5 lakhs
  • In case of loss or physical separation of one limb or loss of sight of one eye, the company gives a compensation standing at the rate of 50% of the capital sum insured where the Capital Sum Assured is Rs.5 lakhs and the resultant compensation is Rs.5 lakhs

Method of Reliance Two Wheeler Insurance Claim Settlement

A policyholder making a claim should follow the following steps to raise and settle the two-wheeler claim:

  • The claim has to be registered by calling the company’s toll-free helpline number immediately when the claim arises
  • The vehicle should be taken to any of the authorized garages for repairs and the required documents need to be submitted to the surveyor
  • The company will then confirm the liability
  • In case of Cashless facility through repairs done at authorized garages, the company directly settles the bill with the garage
  • In case repairs are not done at any authorized garage, the policyholder foots the bills himself. He then submits the bills and the claim form to the surveyor or company and the claim is settled
  • The vehicle is then delivered to the policyholder

Applying for Two-Wheeler Insurance Plans from Reliance

Two - wheeler insurance plans offered by the company can be applied to through multiple channels like:

  • Individuals desirous of availing any plan can simply call the Sales helpline of the company and speak to the customer service representative.
  • They can provide their name and mobile number on the website of the company and request for a callback
  • Online car insurance plans can be simply applied by visiting the company’s official website @reliancegeneral[dot]co[dot]in and purchase the plan.
  • Lastly, customers may also visit the company’s branches or get in touch with an agent to buy the plans required.

You can also check insurance for the following bike models:

Reliance Two Wheeler Insurance - FAQs

Written By: PolicyBazaar - Updated: 26 June 2020
Reliance Two Wheeler Insurance Reviews & Ratings
4.9 / 5 (Based on 35 Reviews)
(Showing Newest 15 reviews)
Pankaj
J.n.prasad, September 21, 2020
Affordable plans
With the help of the policybazaar I got to know about different plans at reasonable price and from that site I took the reliance general two wheeler insurance policy. It is less costly and much convenient. Thank you team Policybazaar.
Girish
Padra, July 06, 2020
Great customer care team
The customer care team is very nice and they supports a lot.
Kartik
J. P. Nagar, July 03, 2020
Soft copy
I got the soft copy of my policy from policybazaar within 10 minutes of getting the policy purchased.
Uttam
Ladnun, July 02, 2020
Documents
One of the best thing is that all the documents are been verified on online basis. Which is transparent and not able to get cheated.
Rajat
Yashwant Nagar, July 01, 2020
Third party
The party insurance is quite amazing as it will helps in covering the damages to third party and its mandatory.
Alok
R.g.pur, June 30, 2020
Natural calamities
The policy which I have taken from reliance general and policybazaar takes care of natural calamities too. If my two wheeler got suffered under earthquake etc then it will be covered.
Rohitesh
S.c. Pur, June 29, 2020
Easy renewal
To renew your existence policy is very easy task. You just have to login into it and the start with renew process. Its very simple.
Anshuman
Aravakurichi, June 29, 2020
Renewed
I got my policy renewed last week only as I am really happy with the services. I would definitely recommend people to use it.
Sameer
Machalisahar, June 21, 2020
Recommend
I would love to recommend this to everyone who are keen in purchasing the policy.
Arun
Chadayamangalam, June 21, 2020
Proper documentation
While you are planning to take the policy. Everything is done legally and proper transparency. Nothing is hidden.
Rishab
Captainganj, June 21, 2020
Good interface
The interface which is provided the by the team is quite attractive and easy to use.
Sachi
Haidergrah, June 20, 2020
Great facilities
One of my friend purchased the policy from policybazaar and they are quite happy with their services.
Rajesh
Udalpur, June 20, 2020
Add on covers
You can add the awesome covers into your policy. After getting the insurance. Which is great thing for your policy.
Sameer
Udalpur, June 20, 2020
Less price
I found the website of policybazaar quite unique and best as they provide best policy with great benefits.
Mohan
Udaipur, June 20, 2020
Comparison
The comparison of policies is very easy and I love it. I got my two wheeler policy.
Manish
Yeleswarm, June 20, 2020
Claim
The claim settlement time period is quite accurate and it less time taking.
Varun
Faizabad, June 20, 2020
Got new policy
I got my two wheeler policy from policybazaar. I am quite happy and satisfied.
Varun
Udaipur, June 20, 2020
Sales people
The best work force is sales people. They are quite nice and helpful. They guided me to take the best plan.
Piyush
Adivada, June 18, 2020
NCB
I have got the NCB for every claim free year. It is really helpful and we get full benefits.
Arun
Raath, June 18, 2020
24*7 assistance
The company helps and active for 24*7 assistance which is very nice. If we really need help from them and they are always there to assist.
Armaan
Farenda, June 18, 2020
Coverage
You can avail the benefits of great coverage with the help of policybazaar policies. Good plans.
Dharmesh
Kabi Surya Nagar, June 18, 2020
Cost effective
I bought the policy from policybazaar and it was really affordable.
Dinesh
Hagaribommanahalli, June 18, 2020
Comprehensive plan
I bought the two wheeler comprehensive plan from policybazaar. It is a great plan with lots of benefits.
Vandana
Farenda, June 18, 2020
Quick services
Policybazaar provides with the quick services and also helps the customer to get in depth knowledge about the policy.
Anay
K.v.rangareddy, June 18, 2020
Quite Helpful
I found that the team policybazaar is quite helpful and gives the great services.
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