There is no doubt that, two-wheelers are the most convenient form of transport. Not only is it affordable to all, it also helps you to tackle the traffic on city roads and can be easily driven where four or three wheelers cannot go. Not to forget, Indian automobile market is flooded with motor vehicle manufacturers that are not just Indian companies, but foreign companies as well. People who travel daily to work, prefer two-wheeler because it offers convenience and flexibility of time. However, one can’t ignore the fact that riding a bike/scooter in heavy traffic roads or even on highways involves a paramount risk. Hence, it is important to insure your bike with a proper two wheeler insurance policy, provided by the Reliance General Insurance Company.
A two wheeler insurance policy is a mandatory requirement as per the law of Motor Vehicles Act, 1988. According to this law, a bike should at least be insured with a third-party liability policy. Although there are a number of insurance companies in the market who offer the third-party policy, companies like Reliance General Insurance, provides higher benefits on comprehensive policy, because it provides recommended amount of coverage that a bike should ideally have. Please note that the third-party policy premium is fixed by the IRDAI every year after revision, and hence, it cannot be altered by the insurance provider.
It is known that Reliance is one of the most trusted brands in the market and a potential two wheeler insurance policy buyer should look no further. To know more about reliance General Insurance, read on.
As mentioned in the name, it insures the third-party (either uninsured or underinsured) property and person against any damage caused by the insured be it causing injury or accidental death to the third party or property damage. This policy in a way imposes safety driving by the insured vehicle owner. In this insurer’s policy, the third-party is liable to get settlement amount for either death, permanent disability, or partial disability up to Rs.7.5 lakh depending on the extent of loss suffered by the victim or his/her family.
This policy provides protection for not just the vehicle but the owner and third-party as well. It provides protection for the damages caused due to accident, lightning, terrorist attacks, earthquake, riots, civil protests, theft, etc. Some exclusions of the policy include normal wear and tear, vehicle used for illegal purposes, drunk driving, electrical breakdown, depreciation, driving without a valid license, etc.
Reliance offers zero depreciation cover for two-wheelers which completely eliminates the depreciation factor during claims. The zero depreciation cover can be bought for new bikes or bikes aged up to 2 years. The insurer allows 2 claims per policy year. The benefit of zero-depreciation will be applicable to you, only if the insured vehicle is repaired at any network garage. This add-on cover also provides protection to nylon, rubber, plastic, and fiberglass parts.
If you wish to extend the coverage on comprehensive policy other than nil depreciation, reliance can also customize the add-on cover as per the needs of the policyholder.
|Discount||Claim free years|
|20%||First claim-free year|
|25%||2 claim-free years|
|35%||3 claim-free years|
|45%||4 claim-free years|
|50%||5 claim-free years|
It is a percentage of the claim amount that the policyholder agrees to pay on every claim and the rest is paid by the insurer. If you choose a lower voluntary deductible amount, you will pay a higher premium, and vice versa. However, choosing a higher deductible means that you will be personally bearing the major claim amount which may not always be beneficial to you. The Reliance Insurance VD amount is as follows:
|Discount||Voluntary Deductible (VD)|
|5% on own damage cover premium, up to Rs.50||Rs.500|
|10% on own damage cover premium, up to Rs.75||Rs.750|
|15% on own damage cover premium, up to Rs.125||Rs.1,000|
|20% on own damage cover premium, up to Rs.200||Rs.1,500|
Follow the below process when you want to make a claim on your bike insurance policy:
So if you are considering to buy a two wheeler insurance with maximum benefits and facilities, then you should consider, Reliance General Two Wheeler Insurance. You can buy bike insurance policy from either insurer’s website or from any neutral third-party website.
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