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Know How Reliance General Insurance Defends Your Two-wheeler!

Two-wheeler insurance is your financial safeguard in case of any untoward incident that may occur while on road. At the time of driving a two-wheeler, you are responsible to protect the bike, the pillion rider, and/or the others on the road. Though two-wheeler insurance is a legal compulsion, the extent of coverage always depends on your needs. While the Indian insurance market is flooded with insurance companies motivated to serve all the insurance related needs, it is quite tedious to find the right policy. When talking about two-wheeler insurance, you can take Reliance General Two-wheeler insurance into consideration.

Among the various insurance plans offered by Reliance General Insurance, its two-wheeler insurance is worth mentioning. Let’s have a glance at the plan-

Characteristics of Reliance Bike Insurance

Listed below are the chief characteristics of Reliance Two-wheeler insurance:

  • Paperless and hassle-free policy renewal.
  • Quick and hassle-free claim-settlement
  • You can opt for long-term insurance policies as well.

Key Advantages of Reliance Bike Insurance

Some of the key advantages of Reliance bike insurance are mentioned below:

  • No inspection is required at the time of renewing an expired policy. Mostly, inspections are tiring and people tend to avoid them.
  • You can avail cashless service at 159 network garages across the country.
  • By opting for some additional rider covers, such as zero depreciation cover or personal accident cover, you can increase the policy benefit of your main cover.
  • The company offers an exclusive discount on bike insurance.

Types of Coverage

The types of cover offered by this plan are listed below:

Own Damage Cover

This plan covers the insured vehicle against any damage caused by man-made or natural calamities like:

  • Theft
  • Fire
  • Self-ignition
  • Lightning
  • Earthquake
  • Flood
  • Explosion
  • Riot and strike
  • Terrorist activity
  • Damage during transit by air, rail, road and lift

Third Party Liability Insurance

As per the Motor Vehicles Act, 1988, Third-party insurance cover is mandatory for every vehicle owner. The liability coverage offered by Reliance Two-wheeler Insurance plan covers any damage or injury to the other party which may cause legal liabilities.

Personal Accident Cover

This cover is beneficial for owner-rider or driver of the vehicle. As per this plan, a sum assured of Rs. 15 Lakh is payable in case of accidental death or disability of the insured.

What are the Add-on Covers offered by Reliance Two-Wheeler Insurance?

Following are the additional covers that are offered by Reliance two-wheeler insurance plan:

Zero Depreciation Cover: The depreciation cost is the actual market value of your vehicle at that time.  Usually, when your bike is old, the price of depreciated parts like plastic, metal, rubber is not entirely covered. The insurer deducts the depreciable expenses at the time you make a claim, which the insured has to bear. With a zero depreciation cover, you can get the full price of replaced or repaired parts. However, it excludes the expense of tubes and tyres. As per the insurer norms, only private bikes can be insured with this cover with a maximum of 2 claims made within one policy term. Moreover, vehicle age should not be more than 2 years.

Personal Accident Bundle Cover: This is a unique add-on cover offered by Reliance General Insurance which safeguards you during an accident that happens anywhere in the world. The best part is that this cover is offered regardless of who is driving the two-wheeler and includes a cover against accidental death and permanent total disability of body parts.

Avail Discount of Premium

With Reliance General Bike Insurance, the policyholder can avail attractive discounts-

No claim bonus (NCB): The no-claim bonus or NCB is a discount on insurance premium for the next consecutive year. This is a reward for the policyholder for not claiming his/her insurance. Hence, you can avail a huge discount by not claiming the insurance for 5 continuous years. For the first year, it can be earned as a discount of 20% on the premium, which gradually increases and reaches to 50% for the fifth year.

Voluntary Discounts: It is called voluntary discount because the policyholder agrees to pay a pre-decided amount of the total expenses. This discount is offered on the basis of the amount you have chosen to pay. For instance, if you volunteer to pay Rs.1000, you will get a 15% discount on the bike premium. Even if there is no claim, you’ll still get the discount.

What is not covered by Reliance Bike Insurance?

Now that, you know what’s covered under Reliance two-wheeler insurance, here are some points that are not covered by this plan:

  • Wear-and-tear owing to ageing.
  • If there is any mechanical or electrical breakdown.
  • If you use your bike for commercial purposes
  • If the vehicle was driven without a valid license.
  • Any damage or loss occurred while driving under influence (DUI).
  • Damage or loss caused by nuclear attacks or war.

Reliance Two-Wheeler Insurance: The Claim Process

The claim process of reliance bike insurance is simple and hassle-free. Let’s consider different cases to register your claim:

When an Accident has happened:

In case of an accident, you need to follow the steps mentioned below:

  • Inform the insurer immediately by contacting the toll-free number 1800 3009
  • Submit the claim form, duly filled and signed by you
  • Submit a copy of police FIR.
  • Note down the contact number and bike number of the vehicle involved in the accident.
  • Submit a copy of Driving License, Policy document, RC book.

When Your Bike is stolen:

If your bike is stolen, follow these steps:

  • Inform the insurer immediately by calling on the toll-free number 1800 3009.
  • Register the claim form, duly filled and signed by you
  • Submit original key of the bike, Driving License copy, RC copy and policy document copy
  • Copy of Police FIR
  • Submit Form 26, 28, 29, 30 and Form 35 duly signed by you.
  • A copy of ‘No Trace Report’ of the bike as provided by the police.

If there is a Third Party Claim

In case you need to register a third-party claim, you need to follow the steps mentioned below:

  • Inform the insurer immediately by contact on toll-free number 1800 3009.
  • Register the claim with duly filled and signed the claim form
  • Submit a copy of police FIR
  • Also, submit Driving License copy, policy copy and RC copy of the vehicle.

Step-wise guide to claim:

Below is the step-by-step guide to registering a claim:

  • The first thing to do while making your claim is to inform the insurer about the incident. You can call on the toll-free no. 1800 3009 or E-mail them.
  • After that, fix an appointment for inspection with the surveyor and take the damaged bike to any of the network garages of Reliance General Insurance for repair. This way you can avail the cashless benefit. If there is no network garage nearby, you can opt for the garage of your choice and claim for reimbursement. Submit your documents to the assessor and follow the process.
  • Insurer confirms legal liability. If possible, opt for cashless services as the company settles the incurred expenses with the garage directly.
  • If you opt for other garages and pay the bills on your own, you will have to submit the original bills and claim application to the inspection officer at the time of making the claim.
  • Once all the formalities are done, the vehicle will be delivered to you within a stipulated date.

Wrapping Up!

If you own a two-wheeler, possibilities are, you already have two-wheeler insurance policy. But, at times, one chooses an insurance plan without comparing it with the others in the market. The best part is, you can switch to another plan without leaving your bike financially unprotected. If you find Reliance General’s Bike Insurance lucrative, don’t hesitate in switching over. Above all, you should never compromise on benefits.