Two Wheeler Insurance or Bike Insurance is an insurance policy which provides financial protection to your two wheeler / bike against any damages that may be caused by accidents, natural disasters, theft or any serious incidents. A Two Wheeler Insurance also covers financial losses against any third party liabilities.
Just the way your bike has been a reliable companion through all your journeys, our two wheeler insurance is meticulously designed to be your bike’s ideal partner. As per the latest Motor Vehicle Act, insuring your two wheeler is compulsory. Get Reliance Two Wheeler Insurance within minutes and avoid paying a fine of Rs. 2000. Our bike insurance policies offer comprehensive coverage for all top brands, including Hero, Honda, Yamaha, TVS, Suzuki, Royal Enfield & more.
For your convenience, here’s a policy that
insures your bike for 3 long years in just 1 payment! Click here to know more about
long term two wheeler insurance .
What is Bike Insurance?
A bike insurance policy is a shield that protects you from financial loss, if your bike or scooter gets damaged due to road accidents, natural disasters, or theft. It also provides protection against liabilities arising due to damages to any third-party, be it property or person. Having a two wheeler insurance plan ensures that your vehicle is replaced or repaired without putting a dent in your finances
What are the Benefits of Two Wheeler Insurance?
|
Key Features |
Benefits by Reliance General |
Cashless Repairs
| 1200+ Cashless Garages |
No Claim Bonus | Upto 50% Discount* |
Claim Process | Easy Video Claims** |
Claim Settlement Ratio | 98% Claims Settled (FY 19-20) |
Add-Ons | 4 Add-ons available |
Own Damage Cover | Available |
Third-Party Damage Cover | Upto 1 Lakhs for property damage, Permanent total disability cover |
**Based on internal assessment for the time period April 2019 to March 2020
Learn more about multi year bike insurance.
Why Choose Bike Insurance?
Our reliance two wheeler insurance has same basic features but it is really about the other benefits that makes it one of the best purchases. These additional features come with a lot of advantages to the buyer and this is why one should choose this bike insurance policy.
Offerings like Instant Renewal & Easy Claim Process
Reliance has a very easy process for bike insurance renewal and it could be done online easily. You just need to enter a few details like your vehicles registration number and you can get a quote easily. Also, Reliance provides 24x7 support through telephone and this assistance to deal with the immediate claim is provided to the customer on all days even on the holidays. The application process is pretty simple and also is fast and reliable. The claim process settlement is thus very simple.
Customised Add-On Covers
Reliance offers various online bike insurance add-on covers like Nil Depreciation, Daily Allowance Benefit, EMI protection, Helmet Cover and more which you can choose as per your needs. There is also personal accident coverage inside the plan which gives an additional cover of 15 lakhs for any medical treatments due to accident.
Cashless Facility
Reliance also gives the insurer the benefit of availing
cashless garages in two wheeler insurance the number of which exceeds 1198. With this amount, you’ll easily be able to find a network garage in a Tier 1 or Tier 2 city near the area you live in. Reliance is known for bike insurance claim settlement and providing reliable services in the shortest and fastest possible time.
No Claim Bonus
A no claim bonus is a bonus given to policyholders for every year that passes without a claim. The rate of the no claim bonus offered by Reliance is 20% for the first year and 25% for two consecutive years, 35% for three consecutive years, 45% for four consecutive years, and finally 50% for the five consecutive years. Also, there is an option of voluntary deductibles that can be chosen by the policyholder to lower the bike insurance premium amount. A deductible of between 500 to Rs 1500 could be chosen which will lower the premium by 5% to 20%.
Add On Covers for Two Wheeler Insurance
When you are riding on the roads you are exposed to numerous risks. While our standard two Wheeler insurance plan offers basic protection, you can add more value to your two wheeler insurance protection with add-on covers. Our Add-On covers are designed to widen your two wheeler insurance cover to ensure all-round protection. You can choose from add-on covers such as: -
Nil Depreciation (UIN: IRDAN103RP0011V02100001/A0004V01200910)
With this add-on, secure your bike/ two wheeler against a reduction in the value of parts with age. You will get the parts replaced without any pinch to your wallet.
This add-on cover is applicable to the following conditions-
- This add-on covers two wheelers/bikes, with a maximum of two claims in one vehicle insurance policy period
- In case of partial loss, we will settle a claim made for the insured two wheeler only if it is repaired by/ at one of our authorised dealers or workshops
- Compulsory Excess will be applicable as per normal practice and Voluntary Deductible will be applicable if you have opted for it
Important points to keep in mind about Nil Depreciation Cover -
The rubber, nylon, plastic parts, and fiber-glass components are covered under this bike insurance add-on.
- We cover vehicles with a maximum age of 2 years
- We offer a maximum of 2 claims per policy period
- You can opt for this add-on cover with your two wheeler insurance policy when you get a brand new vehicle or while renewal of your two wheeler policy
Exclusions under the Nil Depreciation Add-On Cover -
- Parts not approved under the Motor Insurance Policy
- Tyres and tubes
Daily Allowance Benefit (UIN: IRDAN103RP0011V02100001/A0002V02201415)
We can’t deny the fact that accidents happen! In this condition, we have to leave our vehicles in the garages and travel by our own. This add-on cover compensates for your daily travel allowance when your vehicle is in the insurer's authorized network garage for more than 3 days for repairs. This add-on cover is applicable to the following conditions-
- Triggered if >3days vehicle under repairs due to perils/OD
- Option to choose days & amount
- Allowance Limit Rs.5000/- per day
- Lumpsum theft benefit, if vehicle is not recovered <=90 days
- 2 claims applicable
EMI Protection (UIN: IRDAN103RP0011V02100001/A0007V01201415)
We are concerned about financial impact of an accident. We cover up to 3 EMI’s of your insured vehicle if it is in the insurer's authorized network garage for more than 30 days for repairs. This add-on cover is applicable to the following conditions-
- Vehicle is in repair, vehicle loan EMIs will gets paid
- Payment directly made to financial institution
- Up to maximum 3 EMI shall be payable
- Triggers if repair time > 30 days
- Applicable only for partial claims
Helmet Cover (UIN: IRDAN103RP0011V02100001/A0033V01200910)
This add on cover will make an allowance towards cost of replacing damaged or destroyed helmet of same type and model due to accident involving the insured vehicle. This cover is valid for Annual Two Wheeler policy and can be bought as an add-on cover at the time of purchase. This add-on cover is applicable to the following conditions-
- Premium starting @Rs.100/-
- Pay only 10% of Helmet cost (Sum Insured)
- Sum Insured limit up to Rs.50,000/- per helmet
- More than 1 helmet can be covered in a single year
- Reimbursement of the helmet will be the same type and model
Please note that the policy-
- Shall be available only for maximum one accident during the policy period
- Shall not be available for Theft claims
- Deductibles is 5% of Sum Insured opted by the insured
- Shall not be available for damage caused by deterioration,wear and tear
Interested in Third-party liability insurance? Know more about third party liability two wheeler insurance.
Things You Need to Know About Two Wheeler Insurance
Two wheeler policy market has changed dramatically over a few years. There are a lot of features given by the insurers to make sure that their customers retain their bike insurance policy. Getting bike insurance now is as easy as you can imagine, the process is done online and is hassle-free. Some of the things to know before getting two wheeler insurance are:
Comprehensive and Third Party Liability Only Coverage:
With getting the bike insurance, the person has the option to choose between third party liability only coverage or the comprehensive cover. The liability covers are mandatory by the Indian law but having a comprehensive cover will cover for your own damages as well apart from the third-party damage.
Compulsory Personal Accident Cover:
Bike insurance now have the option to avail person accidental coverage of up to 15 Lakh, earlier it was 1 lakh but recently IRDAI increased the cover to 15 lakhs.
Optional Add-On Coverage:
There are a lot of additional features offered under a bike insurance policy at an extra cost but could be sometimes important and go a long way. It includes coverage from accessories, to spare parts to option to choose to cover accident for pillion riders.
No Claim bonus Transfer:
The no claim bonus could be transferred easily in case a new bike insurance policy is purchased, the no claim bonus is given to the rider and not the vehicle thus the transfer is easy.
Discounts:
IRDAI approved insurers to give a discount on bike insurance to the vehicles with approved anti-theft insurance, membership of automotive session.
Easy Online Purchase:
With everything going online and through apps insurers can avail the policy and also renew the bike insurance policy online quickly. This makes it easy for the rider to get the facility right at their home. Since all the details are previously insured in the database online so a lot of verification and paperwork is saved.
First time buyer, learn more.
Why is Bike Insurance Necessary?
A two wheeler offers a lot of benefits and convenience to the buyer as they save time and resource. Getting a two wheeler also comes with a set of its own risk and thus getting a third party liability insurance cover is also mandated by the law. Few reasons why two wheeler insurance is necessary are:
-
Financial Coverage: The condition of the roads in India is not very good and also with that there has been an increase in rash driving cases. An accident can cause a lot of damage to the vehicle and loss of life as well. Loss of money is almost sure in these cases and thus the insurance firm pays for the repair of the vehicle and also covers the medical aid to the injured person. Thus, you can have peace of mind as any any damage to the vehicle will not cost you and not cause any financial trouble if you have a bike insurance.
- Mandated by Law:- Riding without a valid two wheeler insurance policy is punishable by law. The first thing which makes it necessary to get bike insurance policy apart from all the other things is that the cover is mandated by the law. Thus, under the Motor Vehicles Act, one must mandatorily at least have a third party two wheeler insurance
-
Natural Calamity Cover: A bike insurance policy also has the coverage for damage done through any kind of natural calamity like earthquake and floods. Thus, an insured person can claim under these unforeseen circumstances as well.
Personal Accident Cover: You get a personal accident cover along with two wheeler insurance which helps you stay protected arising from any accidents
Third Party Cover: A third party two wheeler cover protects the person from any kind of legal obligation that may arise due to the accident towards third party. It Covers damage to the third party property or Death or bodily injury to a third party by the insured vehicle. hird-party cover is mandated by the law which means the bike insurance policy of the insured person will cover for any damage done to another vehicle and the person (Third-Party).
Learn more about what happens when you don't buy a bike insurance.
