Reliance Own-Damage Bike Insurance Policy

The Reliance own-damage bike insurance policy, commonly known as a standalone own-damage bike insurance policy, provides coverage for damages to your bike caused by accidents, theft, fire, natural calamities, man-made disasters, etc. You can enhance your OD two wheeler policy with additional riders like nil depreciation cover, pillion rider cover, etc. Read more about this Reliance OD bike policy here.

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Reliance Own-Damage Bike Insurance Policy - Key Features

The notable features of Reliance own-damage bile insurance policy are listed below:

Categories Key Features
Policy Coverage
  • Covers damages or losses due to road accidents.
  • Provides financial assistance if the insured two-wheeler is stolen.
  • Covers damages or losses from natural disasters like earthquake, hailstorm, etc.
  • Protects two-wheelers against man-made disasters such as war, terrorism, etc.
Policy Premium
  • Offers reasonable premium prices.
  • Offers multiple riders or add-ons at an additional premium to enhance coverage.
  • Mandatory Personal Accident (PA) cover available with an extra premium.
Convenience
  • Involves zero paperwork when issuing the bike insurance policy.
  • Ensures an easy and smooth claim process with a wide network of garages.
  • Provides convenient online options for policy purchase and renewal.

*Disclaimer: The key features highlighted in the table above are for reference purposes only. To know the exact cover details, please go through the policy wording carefully.

Why Choose Reliance Own-Damage Bike Insurance?

Having a two-wheeler own-damage insurance policy is essential to cover unexpected expenses from road travel, such as accidents, theft, natural disasters, man-made disasters, and fire damage. This policy is separate from the mandatory third-party insurance policy and must be purchased along with it for extensive coverage.

The benefits of Reliance OD two-wheeler policy include the following:

  • Cashless Repairs: Reliance General Insurance Company Limited has around 10,000 network garages, allowing you to get your bike repaired without paying upfront.
  • Claim Process: The Reliance OD bike insurance claim process is quick and fully digital, requiring no paperwork.
  • No Claim Bonus: If you do not make any claims during the policy period, you can get up to a 50% discount on your premium.

Inclusions of Reliance Own-Damage Bike Insurance

The Reliance OD bike insurance policy inclusions are listed below:

  • Coverage from damage or losses due to floods, lightning, earthquakes, fires, etc.
  • Covers losses if your bike is stolen or deliberately damaged by someone.
  • Includes damages from spontaneous ignition or explosions.
  • Covers damages from events like riots, vandalism, and terrorist attacks.
  • Pays for repairs if your bike is damaged in an accident.
  • Covers damages while your bike is being transported by rail, road, air, or elevator.

Exclusions of Reliance Own-Damage Bike Insurance

The below are the exclusions of Reliance own-damage two-wheeler policy:

  • Damage to third-party vehicles or property is not covered.
  • Does not cover injuries caused to other people in an accident.
  • Excludes regular wear-and-tear of the bike.
  • No coverage for mechanical or electrical breakdowns.
  • Excludes damages if the motorcycle is used in ways not allowed by the policy.
  • Does not cover damages if the rider does not have a valid driving license.
  • Excludes damages if the rider is under the influence of alcohol or other intoxicating substances.

How to Buy Reliance Own-Damage Bike Insurance Online?

Follow these steps to purchase a Reliance own-damage bike insurance policy online:

Step 1: Open Policybazaar.com and navigate to the 'Insurance Products' section in the top menu.

Step 2: Pick 'Own-Damage Bike Insurance' from the available options.

Step 3: Provide correct details of your two-wheeler and click on the 'View Prices' button.

Step 4: Select the Reliance own-damage bike insurance option from the list.

Step 5: Enter details in the required fields accurately.

Step 6: Complete the payment process online, and the policy document will be shared with you on your registered email ID.

How to Raise Reliance Own-Damage Bike Insurance Claims?

The process of raising an own-damage bike insurance claim is as follows:

Step 1: Immediately inform your two-wheeler insurance provider about the incident via phone call or email.

Step 2: Download the claim form from the insurance company's website and fill it out accurately. Remember to sign the form.

Step 3: Attach the necessary documents with the form and submit the same to the insurance provider.

Step 4: A surveyor will be sent to assess the extent of damages to the insured vehicle.

Step 5: After reviewing the assessment report, the insurer will decide whether to approve or reject your claim request.

Step 6: If the insurer approves your claim request, you can enjoy the benefit of cashless repairs at any of the insurer's network garages. Alternatively, if you get your bike repaired at a non-network garage, pay for the repairs upfront and get the reimbursement later on submitting the bills.

Documents Required for Reliance Own-Damage Bike Insurance Claim

Listed below are the documents required for Reliance bike insurance claim process:

  • Signed Claim form with correct details
  • Copy of FIR report (if applicable)
  • Registration Certificate (RC) of the insured vehicle
  • Active policy of Reliance OD bike insurance
  • Driving Licence (DL) of the person riding the bike at the time of road accident
  • Additional documents, if any, requested by the insurance company

FAQs About Oriental Own-Damage Bike Insurance Policy

  • Q1. What is the own damage policy?

    Ans: Own damage insurance covers repair or replacement costs for your bike if accidents, theft, fire, natural disasters, or man-made incidents damage it.
  • Q2. Is FIR required for Oriental own-damage bike insurance claims?

    Ans: Yes, an FIR is required for own-damage claims related to theft or major accidents.
  • Q3. How many times can we claim OD bike insurance?

    Ans: There is no fixed limit on the number of times people can raise a claim. However, frequent claims can increase your premium or may affect your No Claim Bonus.
  • Q4. Is Oriental own-damage insurance worth it?

    Ans: Yes, the Oriental OD bike policy is worth it. It protects your vehicle against the costs of repairing or replacing it due to damage or loss. It is especially beneficial for new vehicle owners.
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 62 Reviews)

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Reliance Own-Damage Bike Insurance Policy Reviews & Ratings

4.8 / 5 (Based on 62 Reviews)
(Showing Newest 10 reviews)
Nandini
Jodhpur, October 09, 2021
Complete support
Recently I have insured my newly bought bike which was gifted to me by my brother. I went to the policybazaar for a bike policy and an executive helped me through the whole process. He provided me complete support and assistance. I took Reliance General plan according to my budget.
Manya
Vijayawada, October 09, 2021
Attractive features
I have taken the same plan which my friend has bought for himself. one of my friends has recently insured his bike from Policybazaar and i really liked the features that were provided to him in reliance general plan so I have bought the same plan for my bike.
Lakshay
Coimbatore, October 09, 2021
Good service
I always renew my policy on time because of Policybazaar. I have been using Oriental Two Wheeler Insurance for four years and I always get policy renewal notification. If I ever forget about the renewal I get calls as a reminder of the renewal.
Kushagra
Jabalpur, October 09, 2021
Cooperative staff
Policybazaar has cooperative and friendly staff. I have bought reliance general two wheeler insurance from here and i found the whole process convenient. now i am looking for more plans as i am impressed with the facilities offered to me.
Jasraj
Gwalior, October 09, 2021
Hassle free experience
I do not need to take tension for unwanted expenses as i have purchased reliance general two wheeler Insurance from Policybazaar. buying a policy from Policybazaar is very hassle free and customer does not need to do much things as Policybazaar handles everything.
Siddhant
Kalyan Dombivli, August 18, 2021
Hassle Free Experience
Randomly i was checking the two wheeler policy on policy bazaar. i liked reliance two wheeler policy then i bought it.i contacted the policy bazaar and agent provided me all the information about the policy in detail.i had a hassle free experience with policy bazaar. company gives 100percent support to their clients from their end.
Anurag
Rajendra Nagar, June 04, 2021
Affordable and customized
Policybazaar helped me customize my bike insurance plan for a reasonable premium. After comparing benefits, I decided to go for Reliance general two wheeler insurance and also got an extra discount for buying online.
Subhash
Partapgarh, June 04, 2021
Flexibility
Purchasing Reliance general two wheeler insurance for my newly bought bike was the best decision. I bought it two years ago through policybazaar a day after I bought my bike. The company has helped me with roadside assistance many times since then.
Neeraj
Pune, June 04, 2021
Protection for bike
I bought a protective shield for me, my bike, and third party just in case I need it someday. I made an online purchase through policybazaar where I was able to compare different plans. I finally chose reliance general insurance cover.
Ajay
N.paravur, March 19, 2021
All kind of Info available
I wanted to purchase a two-wheeler insurance policy for my Royal Enfield which I bought recently. I was suggested by my friend to make the purchase online from policybazaar because they provide all kinds of information related to the policy on their website and I ended up buying the Reliance general two-wheeler insurance plan. Thanks team

^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