The Dhirubhai Ambani Group owns Reliance General Insurance Company, which is one of India’s leading insurance companies. The insurance company offers a variety of two-wheeler insurance policies, including Third Party, Standalone Own-Damage, and Comprehensive Insurance. A bike/two-wheeler insurance policy is a safety net that provides financial and legal protection in the event of damage to the insured two-wheeler or third-party liabilities such as bodily injury/death/property damage. You can select the type of two-wheeler insurance policy that best suits your needs and budget.
Types of Bike/Two-WheelerInsurance offered by Reliance Insurance
- Third-party Two-Wheeler Insurance
- Comprehensive Two-Wheeler Insurance
- Standalone Own-Damage Two-Wheeler Insurance
In the unfortunate event of an accident, Reliance Third-Party Two-Wheeler Insurance protects its policyholder from all financial and legal obligations of the third party. It is required by law and provides basic coverage to the policyholder. It is the most cost-effective Two-Wheeler insurance plan. Reliance on third-party bike insurance is the most cost-effective option for covering all third-party liabilities resulting from a road accident. It offers its policyholders financial and legal protection against life’s uncertainties for a low premium.
Coverage in Third-party Insurance
This type of insurance policy protects the owner of a two-wheeler from financial and legal liabilities incurred by third parties, such as bodily injury, death, or damage to the third party’s property, which may occur as a result of an unforeseen event or mishap. According to the Motor Vehicles Act, a two-wheeler owner in India must have third-party insurance.
In the event of a road accident/mishap involving the insured’s bike, the Reliance third-party bike insurance plan covers the following third-party liabilities:
- Third-Party Bodily Injuries: The Reliance third-party insurance policy covers bodily injuries, death, and disability caused to a third party as a result of an accident involving the insured two-wheeler. In the event that a third party sustains a bodily injury or disability as a result of an accident, the third party will be compensated until he or she recovers. This type of policy also covers the death of a third party as a result of an accident.
- Damage to Third Party Property: Damages to third party property up to Rs. 1 lakh will be compensated under the Reliance third party insurance policy if the property is damaged as a result of an accident involving the insured two-wheeler.
- Third-Party Vehicle Damage: Damage to a third-party vehicle caused by an accident involving the insured two-wheeler must be compensated. This policy will cover the cost of repairs or damages to a third-party vehicle caused by an accident involving the policyholder’s two-wheeler.
Comprehensive Bike Insurance
A comprehensive Two-Wheeler insurance plan gives you the most protection against damage to and loss of your bike. This package policy covers both third-party liabilities and the insured’s bike’s own damages. The Reliance comprehensive bike policy combines own-damage and third-party liability coverage. It protects the insured’s bike from accidents, natural disasters, man-made disasters, theft, and other perils. The policy offers financial assistance to the bike’s owner. It also includes coverage for third-party liabilities.
Coverage in Comprehensive Bike Insurance
Comprehensive coverage is provided by a two-wheeler insurance policy. This type of two-wheeler insurance policy provides coverage and compensation for the two-wheeler owner’s own damages to the insured two-wheeler as well as third-party liabilities such as bodily injuries, death, or damage to a third party’s property that may occur during an unforeseen event or mishap.
Reliance comprehensive bike insurance protects policyholders from all types of damage and loss caused by unforeseen circumstances. The following are the coverages included in the Reliance comprehensive bike insurance policy:
- Theft coverage for own-damage: This plan also includes theft coverage for the bike.
- Third-Party Liability: This plan covers third-party bodily injuries, death, or permanent disability, as well as third-party property damage caused by the insured’s bike.
- Own-damage coverage for natural disasters: Own damage to the insured’s bike caused by natural disasters such as floods, earthquakes, and so on.
- Own-damage coverage for riots, strikes, and other man-made disasters: The insurer covers own-damage to the insured’s bike caused by riots, strikes, and other man-made disasters.
Standalone Own-Damage Bike Insurance
Reliance General Insurance provides a wide range of insurance coverage for a variety of industries, including health and auto insurance. There are three basic types of two-wheeler insurance that they provide. Along with a mandatory third-party insurance policy, a standalone own-damage two-wheeler insurance policy is an advantageous cover to purchase. In the event of a mishap, the own-damage coverage will cover the costs of own-damage. Furthermore, this compensation is available for a wide range of events, including floods, earthquakes, fires, explosions, vandalism, and car accidents, to name a few. In times of crisis, this type of compensation can make all the difference.
Coverage in Standalone Own-Damage Insurance
Only own-damage costs will be covered by a Reliance standalone own-damage two-wheeler insurance policy. Furthermore, the insurance company rewards customers with NCB for claim-free years.
Reliance standalone own-damage two-wheeler insurance policies cover the following aspects:
- If the two-wheeler is damaged or totalled as a result of a traffic accident.
- In the event that the two-wheeler is damaged as a result of a fire or explosion.
- Theft of the two-wheeler or vandalism damage of some kind.
- Damage to the two-wheeler as a result of a natural or man-made disaster. Consider cyclones.
Nil Depreciation Coverage: This cover protects the vehicle’s value from depreciation. At the time of the claim, the age and value of the depreciated items that are replaced account for a large share of the claim deduction. Except for tires and tubes, there are no deductions on the car’s parts with this cover. Before deciding on this cover, however, there are a few things to consider
- Only the rubber, nylon, and plastic sections of the vehicle, as well as the fibreglass components, are covered.
- Only two-year-old vehicles are eligible for coverage.
- Under the cover, you can make up to two claims every policy period.
- The additional coverage can be added at the time of purchase or renewal of a new car.
- Under the cover, only two-wheelers are protected.
- The firm will only settle a claim under the policy if the repairs are performed by or at approved dealers or workshops.
- The cover does not provide coverage for total loss, constructive total loss, or theft claims.
- The extent of coverage excludes tyres and tubes, as well as parts not allowed by the Motor Insurance Policy.
Personal Accident Bundle Cover: The company offers a personal accident bundle cover, which covers the plan customer in the event of death or permanent disability in any region of the world, regardless of the vehicle’s driver. The amount of the money insured varies based on the type of physical harm that the plan customer has suffered. The following is a list of advantages and the amount of the sum insured:
- The company pays a payout of 100% of the capital sum insured, which is specified at Rs.5 lakhs, in the event of death or permanent total disability.
- The company pays a compensation of 100% of the capital sum insured, which is specified at Rs.5 lakhs, in the event of loss or physical separation of two limbs or loss of sight in both eyes.
- In the event of the loss or physical separation of one limb, as well as the loss of sight in one eye, the firm pays a compensation of 100% of the capital sum insured, which is set at Rs.5 lakhs.
- The company pays a compensation of 50% of the capital sum insured in the event of the loss or physical separation of one limb or the loss of sight of one eye. For example, if the capital sum insured is Rs.5 lakhs, the pay out is Rs.5 lakhs.
Things not Covered in Reliance Bike Insurance
- Any aging-related wear and tear on the bike
- Any mechanical or electrical failures
- Private motorcycles used for remuneration are not covered.
- Driving without a valid driver’s licence is a serious offence.
- Loss or damage incurred while riding under the influence of alcohol or any other intoxicant.
- Depreciation of the bike’s value causes loss or damage.
- Loss or damage as a result of war or nuclear threats
- Consequential loss – if the original damage causes subsequent damage or loss, our motorcycle insurance will only cover the original damage.
- Deductibles are mandatory and are a set amount that is deducted at the time of the claim.
Benefits of Reliance Bike Insurance
The following features and benefits are included in Reliance two-wheeler insurance policies:
- Depending on your needs, there are various types of policies that provide various types of coverage benefits.
- To purchase or renew, no paperwork is required. Two-wheeler insurance plans from Reliance
- The facility can be renewed for up to three years.
- There are a variety of add-on coverage options available to help you tailor your bike insurance coverage.
- Cashless claim settlements are available at over 750 garages across India.
Features of Reliance Bike Insurance
- The two-wheeler insurance plan can be issued in two different variations. The Third-party Liability Only policy is one, and the Package Policy is another
- A third-party liability policy is required by law and provides only the most basic coverage. This policy will cover any bodily injuries or death that a person other than you may sustain as a direct result of your vehicle, as well as any damages to another person’s vehicle, whether it is a two-wheeler or a four-wheeler, and any property damage caused by your vehicle. This policy does not cover any damages to you or your vehicle as a result of the accident.
- 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, in whatever form it is offered, will be valid for one year and must be renewed at the end of that time.
- The premium for this policy will be determined by the vehicle’s Insured Declared Value, or IDV for short. IDVs are calculated differently by different companies, and the premium is proportional to the IDV.
Documents required for Reliance Bike Insurance
- Previous Policy Number, if applicable,
- Registration Number
- Engine Number
- Chassis Number
- Manufacturing of Automobiles
- Date and location of purchase
- Contact information of the policyholder
- A copy of the vehicle’s RC Book is required.
Claiming Reliance Bike Insurance
Reliance General Insurance is a great companion in the long journey of your life, allowing you to deal with all unanticipated situations without worry. It covers all of your bike’s financial obligations as a result of road mishaps, theft, or disaster. In the fiscal year 2019-2020, it maintained an excellent track record, with a claim settlement ratio of 84.26 percent. Reliance General Insurance has been successful in resolving disputes and settling claims for its thousands of clients. It has established an active support team that provides emergency assistance 24 hours a day, seven days a week.
You may quickly notify Reliance General Insurance about a claim for your two-wheeler insurance policy and check the status of your claim on the official website. To file a claim online, follow these simple steps:
Step1: First, go to the official website.
Visit Reliance General Insurance’s official website and select the ‘Self Help’ option in the bottom right corner. After selecting self-help, scroll down to the claim section and select the ‘Intimation’ option.
Step 2: Fill out the Claim Form.
Proceed by selecting ‘Motor’ as the product. Click ‘Next’ after entering information like as if you’ve reported the vehicle to a garage and your policy number.
Step 3: Submit Documents to Support Your Case
After you’ve submitted your claim, double-check your policy’s details and information. Proceed by submitting/uploading the accompanying papers with your claim form.
Step 4: Monitor the Status of Your Claim
You can follow your claim on the website once you’ve registered and contacted your insurance provider.
Claim Settlement Process
Reliance General Insurance has a network of over 750 garages across India where its policyholders can get their registered bikes repaired at no cost. It has a straightforward claim settlement system that is outlined in simple steps below:
- Make contact with your insurance company.
The first step is to notify the insurer as quickly as possible following the incident, whether it was a theft, an accident, or damage to the bike. You may reach Reliance General Insurance by dialling 1800 3009, which is a toll-free number. You must take photographs of the scene of the sad occurrence and count the number of witnesses. When you register for the claim, these serve as proof.
- Make a Claim
A representative from Reliance General Insurance will call you within 24 hours of receiving your notification. To the executive, you must supply the following information.
- The insured person’s name
- Number of the policy
- Your phone and fax numbers
- The catastrophe occurred on this date and at this time.
- Vehicle identification number
- The vehicle’s make and model
- The location of the accident
- The size of the loss
- A brief explanation of the accident’s circumstances.
- Damages Assessment
The insurance company will send a surveyor to assess the extent of the damage to the bike caused by the collision. To the surveyor, you must pass over the documentation and proofs. You will receive a claim form after completing the survey. It is your responsibility to fill it out and send it to the surveyor.
- Settlement of Claims
Reliance affirms its liability after considering all factors and pays for the insured’s bike to be repaired at the garage. The deductibles and depreciation are factored into the claim amount.
Reasons for Rejection of Claim
Reliance has several conditions that policyholders must meet in order for their claims to be settled. The insurance company denies the claim if the following requirements are met:
- A scam has been reported.
- Making a claim for the improper amount of coverage
- Facts are misunderstood.
- Parts of the automobile aren’t working properly.
- Driving without a valid driver’s licence
- Inadequate information to process the claim
- Delay in notifying the insurer of the accident
- Act of indifference
Renewal of Reliance Bike Insurance
Reliance General Insurance offers a cost-effective way to reduce risk on the road. Bike insurance, like all general insurance plans, has a validity period after which a policyholder must renew it in order to continue receiving insurance coverage. Reliance General Insurance’s bike insurance plans can be renewed in a simple and straightforward manner. To save time for its policyholders, it has digitalized all processes. It has established an active helpdesk to provide assistance at any time of day.
The renewal procedure for the Reliance bike insurance plan can be completed in just a few easy steps, as detailed below:
- First, go to the official website.
Visit Reliance General Insurance’s official website and select the ‘Self Help’ option on the right side of the page. Scroll down to the ‘Renewal’ section and select the option to ‘Renew Bike Insurance.’
- Fill in the blanks with information.
By entering your cell phone number/policy number and vehicle information (Registration/Engine/Chassis Number), you can instantly check your policy data. If you input your cell phone number, you will receive an OTP (One Time Password) that you may use to check your insurance details and renew your policy. If you opt to renew your insurance by providing your policy number and vehicle information such as the registration/engine/chassis number, be sure to double-check your information before clicking the ‘I agree to the terms and conditions button.
Benefits of Renewing Bike Insurance
For two-wheelers, the roads are a dangerous area. It’s even more difficult for commuters who have to deal with uncontrolled traffic during rush hour. Another issue is a lack of decent roads, which can result in issues such as slick surfaces, mushy or muddy sections, or sticky tar. These elements wreak havoc on two-wheelers and can result in accidents that injure riders. By renewing a two-wheeler insurance policy, such situations can be avoided. Let’s have a look at some of the most important advantages of renewing your two-wheeler insurance:
- Financial Security: In today’s world, even minor damages can cost thousands of rupees. Two-wheeler insurance provides financial protection while also allowing you to save money. It protects you in the event of an accident, theft, or other third-party liability. It acts as a safety net for two-wheeler owners by assisting with damage repairs without draining your wallet.
- Accidental Injuries: Dealing with financial obligations after an accident is a never-ending nightmare. In these situations, a two-wheeler insurance policy not only covers the insured vehicle but also any unintentional injuries received by the policyholder or those in the vehicle.
- Replacement Parts Costs: Maintaining a two-wheeler is a difficulty in India, given the increased demand for motorcycles and the rising cost of spare parts. Spare components have become more expensive as a result of this cost increase and the growing demand for two-wheelers. A two-wheeler insurance policy can cover the cost of replacement parts, including nuts and bolts, as well as more expensive items like gears and brake pads.
- Roadside Assistance: When renewing their two-wheeler insurance policy, many individuals choose roadside assistance. If you have this advantage, a team of rescuers will rush to your aid if you become stopped on the road due to an unforeseeable accident or breakdown. It includes services such as automobile towing and minor repairs.
- Peace of Mind: Any damage to your vehicle can result in astronomically high repair costs. If you have valid two-wheeler insurance, your insurer will cover all of your unexpected charges. This gives you a lot of satisfaction and peace of mind while driving, and it assures that you always have someone to call in case of an emergency on the road.
Customer Care Details of Reliance Bike Insurance
- website: www.reliancegeneral.co.in
- email-id: firstname.lastname@example.org
- Contact (Toll Free Number): 1800-3009
Q1. Based on which premium of two-wheeler is calculated?
Ans – The two-wheeler insurance calculates the premium based on the engine cubic capacity (cc).
Q2. I have added brand new accessories to my two-wheeler, can I get those insured as well?
Ans – Yes, you can get new accessories insured even if you add them in the middle of your policy’s term. Simply inform the company of new attachments and their type. You may have to pay an additional premium to insure a certain type, such as electrical or accessories.
Q3. What are the exclusions of Reliance two-wheeler insurance?
a) Invalid License
b) Riding under the influence of drugs or alcohol
c) Wear and Tear
d) Any mechanical or electrical breakdown
Q4. What is personal accident cover for two-wheeler insurance?
Ans – Accidents that result in bodily harm, permanent partial disability, or permanent total disability, as well as accidental death, are covered by personal accident insurance.
Q5. Can I transfer my No Claim Bonus to my new two-wheeler?
Ans – Even if you change insurance companies, you can transfer your No Claim Bonus from one two-wheeler car to another two-wheeler vehicle. An NCB certificate should be provided by the first insurance fi