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Riding a two-wheeler without a valid insurance can attract a fine of Rs.1,000 or imprisonment for a period of 3 months, or both. Given the expenses involved, it is better off to have a valid motor vehicle insurance at all times. Reliance General Insurance offers solutions in such cases, with its bike insurance enabling one to ride the bike without worrying about fines and penalties.
|Policy period||1 year|
|Policy type||Annually renewable motor insurance policy|
|No claim bonus (NCB)||
|No claim bonus after claim||Based on year in which claim is made|
|Zero Depreciation cover||Can be availed as add-on|
|If plan expires||The cover provided by the policy ceases to exist, with an adverse impact on the No Claim Bonus|
|Network garages||159 network garages across the country|
Purchasing a two-wheeler insurance from Reliance General not only offsets the need for insurance, but also provides a few added benefits.
*Subject to certain terms and conditions.
Reliance offers insurance plans which meet different requirements. While the Third-party Liability Plan meets the basic government regulations, the Reliance Bike Insurance Plan offers added protection.
A bike insurance plan from Reliance provides protection in a number of situations.
Not all instances are covered when one purchases a bike insurance policy. This is done primarily to avoid misuse of the policy, with the basic exemptions highlighted here.
Purchasing a two wheeler insurance from Reliance is simple and quick, provided that one satisfies a few basic requirements.
Buying an insurance policy for a two-wheeler from Reliance is extremely simple, with it possible to purchase it in a matter of minutes.
In case of any incident where the vehicle is damaged/rider is injured, it is imperative to initiate the claims process. This can be done by keeping a few simple steps in mind.
Note: The insurer will settle the bill with the garage if one opts for the cashless facility. In case one doesn’t opt for it, he/she will be expected to pay the amount, with the insurer reimbursing them for the same.
A policy which has lapsed can be renewed online. The entire process is simple and efficient, with it taking a few minutes to complete all formalities.
Reliance General Insurance provides one an opportunity to reduce their premium amount. This can be done by choosing the voluntary deductible amount. This is the amount the individual pays in the event of a claim, with the insurer paying the remaining portion.
The higher the voluntary deductible lower the premium.
It is possible to save as much as 20% on the premium amount when one opts for a high deductible.
|Deductible amount||Discount on premium|
Note that the percentage discount on the premium is subject to an upper limit.
In case the policy expires it is imperative to renew it ASAP. One should get in touch with the insurer, see whether the No Claim Bonus can be carried forward and pay the premium amount to renew the policy. Delays in renewing the policy could result in increased premiums and forfeiture of the NCB.
Individuals who wish to connect with company representatives can do so by calling them on their toll free number – 1800 3009.
Consequential loss is any loss which an individual is exposed to on account of an incident with the insured vehicle. For example, a person could miss an important meeting as a result of an accident, with the meeting resulting in a financial loss to him/her. The insurance policy will cover the cost related to the accident, but will not reimburse any consequential loss.
If the accident is minor, involving minimal expenditure to fix the vehicle, it is not advisable to file a claim. This is primarily on account of the NCB. Making a claim will reduce the NCB, resulting in increased premiums in the future. This could be more than the actual cost of fixing the bike.
a.Moving to a different city will not dilute the cover accorded by the policy. One would have to intimate Reliance General Insurance, updating their current address. Additionally, the premium rate could vary, depending on the city one is moving to. Metro cities have a higher premium rate compared to other cities.
a.Yes, the make and model of a bike are taken into account while computing the premium amount. Bikes with a higher engine capacity (superbikes, tourers, etc.) will attract a higher premium compared to others.
The Personal Accident Bundle Cover provides a cover of Rs.5 lakh. This can be availed in case of an accident which results in death/permanent total disability. The cover will be paid if there is a loss of eyesight/loss of limbs as well.
The Insured Declared Value (IDV) of a vehicle is the maximum amount of money that your insurance provider will pay you in case the vehicle was stolen or in case of a constructive total loss. The IDV is determined by adjusting the selling price of the two-wheeler with depreciation.
The No Claim Bonus is offered by insurance companies to policyholders who don’t raise claims during the policy term. If you receive a No Claim Bonus from your insurer, you can avail a discount on your premium the following policy year.
Yes, you can transfer the No Claim Bonus if you are changing your insurance provider.
Opting for a voluntary deductible will reduce your premium payable. However, it is only a good idea to opt for a voluntary deductible if you have sufficient funds to pay for the expenses that will not be borne by your insurance provider.
If you renew your two-wheeler insurance policy within 90 days from when the policy expired, you will not lose the No Claim Bonus. However, if you wait longer than 90 days to renew your two-wheeler insurance policy, the accrued No Claim Bonus will be lost.
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