Bike Insurance
Isn't biking is a great way to get around? It's fast, convenient, and helps you get around easily. But did you know that if you're someone who relies on a bike for transportation, you must have two-wheeler insurance?
In India, two-wheeler insurance/bike insurance is mandatory if you want to ride your bike on public roads. This type of insurance covers you in the event of an accident, and it can also provide financial protection if your bike is stolen.
It's important to buy a bike insurance policy online from a reputable company. Thankfully for you, Reliance two-wheeler insurance is one of the best options around. We offer online bike insurance that is easy to purchase and very affordable. Plus, our policies are customisable, so you can choose the coverage that best suits your needs.
Get a free quote today and see how much you can save on your bike insurance renewal!
What is Bike Insurance?
Bike insurance is a type of vehicle insurance that specifically covers motorcycles. In most cases, when you buy two-wheeler insurance online, it will cover you in the event of an accident, and it can also protect against theft and damage.
Under the Motor Vehicle Act 1988, it is mandatory for all bike owners in India to have at least a third-party liability insurance.
Third-party bike insurance is the minimum level of coverage required by law, but it does not provide protection against things like theft, fire, and natural disasters. For this reason, we recommend that you compare comprehensive and own damage bike insurance policies for better coverage.
With Reliance General's comprehensive 2-wheeler insurance policy, you can rest assured that you're covered no matter what happens.
There are three main
types of bike or scooter insurance: third-party, comprehensive, and own damage. Third-party bike insurance is the minimum level of coverage required by law in India, and it covers you in the event that an accident occurs that injures another person or damages their property. If you are found without bike insurance, you may be subject to a fine of up to Rs.2000.
Comprehensive 2-wheeler insurance is not required by law, but it provides additional protection against things like theft, fire, and natural disasters.
Own damage bike insurance covers damage to your own motorcycle, regardless of who is at fault.
Key Features of Reliance Two wheeler Insurance Policy
|
Key Features |
Benefits by Reliance General |
Cashless Repairs
| 8,500+ Cashless Garages**
|
No Claim Bonus
| Upto 50% Discount*
|
Discount
| Upto 75%*
|
| Claim Process | Easy Video Claims
|
| Claim Settlement Ratio | 98.6% Claims Settled (FY 21-22) |
| Add-Ons | 4 Add-ons available |
| Own Damage Cover | Available |
| Third-Party Damage Cover | Upto Rs. 1 Lakh for property damage, Permanent total disability cover
|
Why Choose Reliance Two Wheeler Insurance?
Reliance General Insurance understands the
importance of bike insurance, and we are committed to providing the best coverage at the most affordable prices. We offer online bike insurance renewal that is easy to purchase and very affordable. Plus, our policies are customisable, so you can choose the coverage that best suits your needs.
Take a look at some of the features that set us apart from the competition:
Discounts Offered:
Whether you are a new customer or are looking to buy two-wheeler insurance from Reliance General Insurance, we have tailored plans for all groups with exciting discounts to offer you. Based on the two-wheeler insurance online, you can leverage 20-80% off on the premium. This includes No Claim bonus discounts, Voluntary discounts, and more.
Add-On Covers:
Add-on covers are always beneficial as they give you an opportunity to enhance your bike insurance online. You can avail of various add-on covers such as engine protector, pillion rider cover, personal accident bundle cover, nil depreciation cover, zero depreciation cover, and more from Reliance General Insurance.
No Inspection Renewal Policy:
Renew your bike insurance online without any hassles as we understand your busy schedule. We have a no-inspection renewal process for select plans that allows you to renew your policy online without having to go through the hassle of getting your bike inspected. Just a few clicks and you're done!
Long-term Policies:
It is not just about two-wheeler insurance renewal but also about being future-ready. At Reliance General Insurance, we offer
long-term two-wheeler insurance online plans that have a policy tenure of up to 36 months. This means that you can save on the premium and renew your policy once every three years instead of annually. This frees up your time and gives you one less thing to worry about.
Paperless Transaction:
Gone are the days when you had to fill out long and tedious paperwork to purchase bike insurance. With our paperless transaction policy, you can now buy bike insurance online or renew your bike insurance online without having to worry about any paperwork. All you need is an internet connection and a few minutes to spare, and you're all set!
Why Do You Need a Two-wheeler Insurance Policy?
If you own a two-wheeler, then bike insurance is an important investment, and we at Reliance General Insurance are committed to providing the best coverage at the most affordable prices. While our two-wheeler insurance policies come with the same basic features, there are certain benefits that add to the value of your bike insurance policy. Here are a few reasons why you should buy two-wheeler insurance online:
No Claim Bonus:
One of the best features of bike insurance online is the No Claim Bonus (NCB). This is a discount that you can avail on your premium if you do not make any claims during the policy period. The NCB can go up to 20% for the first two years and can be carried forward for up to five years. That is, 35% for consecutive three years, 45% for four consecutive years, and 50% for five consecutive years.
Cashless Facility:
There are over 8,500+ cashless** partner service centers and garages that are spread across the country in Tier 1 and Tier 2 cities. This means that you can avail our cashless facility without having to worry about finding a service center in your area.
-
Customised Add-On Covers:
We understand that every customer has different needs, which is why we offer customised add-on covers. You can choose from a variety of add-on covers such as Helmet Cover, EMI protection, Daily Allowance Benefit, Nil Depreciation, and more. The best part is that Reliance offers a personal accident cover with this plan, giving an additional cover of Rs.15 lakhs to the policyholder for any medical treatments due to an accident.
Instant Renewal & Easy Claim Process:
We have an instant two-wheeler insurance renewal process that allows you to renew your bike insurance online without any hassles. You can also avail our 24x365 roadside assistance service in case of any emergency. In addition, we have a simple and easy
claim process that can be done entirely online. All you have to do is contact our customer support, fill in the application, and submit the required
documents. We will take care of the rest!
What are the Types of Bike Insurance Plans in India?
As said earlier, there are three types of bike insurance plans – third-party liability insurance, comprehensive insurance, and own damage insurance. Each type of insurance has its own set of features and benefits. Let's take a look at the key features of each type of insurance:
Third-Party Liability Bike Insurance:
This is the most basic type of bike insurance. It covers any damage or injury caused to a third party by the insured vehicle. In this case, the third party could be a human or property. The third party is covered for all accidental injuries under this type of insurance. Most importantly, this type of insurance is mandatory by the law. Above all, the premium rates are lower.
Comprehensive Bike Insurance Plan:
In addition to third-party liabilities, comprehensive 2-wheeler insurance covers the policyholder against any type of damage, including complete protection against theft, fire, accidents, and natural calamities. While it has a relatively higher premium, this type of bike insurance is not mandatory by the law.
Own Damage Bike Insurance Plan:
This type of bike insurance covers damages caused to the policyholder's bike, including incidents such as fire, accidents, and natural calamities. It does not cover any third-party liabilities. The premium amount is lower as compared to a comprehensive insurance plan. Most importantly, own damage bike insurance also offers reimbursement in case your bike gets stolen.
Compare Reliance Two-wheeler Insurance Plans
Covers Under Two-wheeler Insurance Online |
Third-Party Two-wheeler Insurance |
Comprehensive Two-wheeler Insurance |
Own Damage Two-wheeler Insurance |
Customisation of bike value (IDV)
|
❌ |
✓ |
✓ |
No hefty fines are levied if a valid policy in place |
✓ |
✓ |
✓ |
Injury to a third-party person
|
✓ |
✓ |
❌ |
Damage to third-party vehicle/ property |
✓ |
✓ |
❌ |
Choice of add-ons – Zero Depreciation and Emergency Assistance |
❌ |
✓ |
✓ |
Personal Accident Cover of Rs. 15 Lakhs (Optional) |
✓ |
✓ |
❌ |
Damage due to events like – Fire, theft, riots, etc. |
❌ |
✓ |
✓ |
Damage due to natural calamities – Earthquake, cyclone, floods, etc. |
❌ |
✓ |
✓
|
Benefits of Bike Insurance
There are many benefits when you buy two-wheeler insurance online from Reliance General Insurance. Some of the key benefits are:
Provides financial protection against damages caused by accidents, theft, fire, or natural calamities. Suppose your bike is stolen. In that case, we will reimburse the market value of your bike as mentioned in the policy documents.
Helps you
save on repairs and maintenance costs. Suppose you have a comprehensive two-wheeler insurance policy. In that case, you will be reimbursed for the cost of consumables and emergency medical expenses incurred due to an accident.
Gives you peace of mind while driving. You can focus on enjoying the ride without worrying about any unforeseen events.
Offers
additional protection with
add-on covers. You can customise your bike insurance policy by adding one or more add-on covers to get complete protection against all eventualities.
Reduces your legal liability in case of third-party property damage or bodily injuries. Suppose you are at fault in an accident, in that case, your bike insurance policy will cover the repair/replacement costs of the third-party property damaged in the accident and also any medical expenses incurred by the third party due to bodily injuries.
Inclusion & Exclusions of Reliance Two Wheeler Insurance
Two-wheeler insurance online policies have certain inclusions and exclusions. Here is a list of some of the common inclusions and exclusions of bike insurance:
What is covered in our bike insurance?
Accidents: In case of an accident, we will make sure that you are compensated for any damage to your bike or third-party property.
Theft: If your bike is stolen, we will reimburse you the market value of the bike at the time of theft.
Natural Calamities: In case of natural calamities such as floods, earthquakes, or landslides, we will cover the damages caused to your bike.
Fire Explosion: If your bike catches fire or explodes, your policy will cover the cost of repairs or replacement.
Personal Accident: We are concerned about your safety, which is why we offer a personal accident cover based on the nature of your policy.
Third Party Liability: In case you are held responsible for any damage to third-party property or injury to a third-party person, we will provide coverage.
What is not covered in our bike insurance?
Depreciation: Depreciation is not covered under two-wheeler insurance online policies. This includes general wear and tear or an overall decline in the value of your two-wheeler.
Mechanical/Electrical Breakdown: Mechanical or electrical breakdown of the bike is not covered under two-wheeler insurance online policies.
Illegal Driving: We do not recommend driving without a valid license or driving under the influence of drugs or alcohol. If you are caught driving illegally, Reliance General Insurance will not cover the damages caused.
Add On Covers for Two Wheeler Insurance Policy
Reliance General Insurance provides a variety of unique
two-wheeler insurance online add-on covers that you can avail to get complete protection for you and your bike. Some of our most popular add-on covers are:
Consumables Expenses:
Consumable expenses are those that are required to keep your bike running smoothly. These include engine oil, coolant, brake fluid, chain lube, etc. With this add-on cover, we will reimburse you for the cost of these consumables, up to a certain limit.
Additional Third-Party Property Damage Cover:
As the name suggests, this add-on cover provides additional protection for any damage caused to third-party property. The limit for this cover is higher than the standard limit under third-party liability insurance.
Additional Personal Accident Cover for the Owner-Driver:
This add-on cover provides additional protection in case of accidental death or disability. The limit for this cover is higher than the standard personal accident cover. This cover can safeguard you and your family in the event of fatality or serious injuries caused by an accident.
Emergency Medical Expenses:
If you or your pillion rider sustains injuries in an accident, this add-on cover will reimburse the emergency medical expenses up to a certain limit, including the ambulance costs. We will reimburse the expenses regardless of the hospital or doctor you choose.
Return-to-Invoice Cover:
If your bike or two-wheeler has been stolen or severely damaged, our return-to-invoice cover will help you get the invoice cost of your vehicle.
Depreciation Allowance:
Depreciation allowance is a bumper-to-bumper cover that helps you beat depreciation at the time of filing a claim for the repair/replacement of your vehicle's parts. This works by reimbursing the depreciation when depreciation is deducted from the claim amount.
How to Buy/Renew Bike Insurance
You can easily buy or renew your bike or scooter insurance policy online at Reliance General Insurance in a few simple steps.
To Buy Bike Insurance Online:
Step 1: Visit www.reliancegeneral.co.in and provide your details such as bike make and model, registration number, email, mobile number, etc.
Step 2: Select the add-on covers (optional) you want to include in your policy.
Step 3: Choose the tenure of your policy and make the payment.
Step 4: Once you have made the payment, you will receive a soft copy of your bike insurance policy document via email. You can also download it from our website by logging in to your account.
To Renew Bike Insurance Online:
Step 1: Visit www.reliancegeneral.co.in and select 'Renew Policy'
Step 2: Enter your policy details and click on the 'Proceed to Renew' button.
Step 3: Select the add-on covers (optional) you want to include in your policy.
Step4: Choose the tenure of your policy and make the payment.
Step 5: Once you have made the payment, you will receive a soft copy of your bike insurance policy document via email. You can also download it from our website by logging in to your account.
How to Claim Bike Insurance
You can easily make a claim by following the steps mentioned below:
Steps to follow for Intimation of Loss:
Step 1: Immediately after the occurrence of an accident or theft, you should inform the police about it and obtain a First Information Report (FIR).
Step 2: In case of an accident, you should take your vehicle to the nearest network garage for repair. In case of theft, you should submit a copy of the FIR to us.
Step 3: You need to call our 24x7 claims helpline number +91 22 4890 3009 and inform us about the loss. Our executive will register your claim and assign a reference number for future correspondence.
Documents Required for filing a Claim for Your Bike
The list of documents required to avail online insurance for your two-wheeler is given below:
Registration Certificate (RC): It is the most important document as it is required to verify the bike's details such as make, model, engine capacity, etc.
Driving license: You will have to submit a copy of your driving license at the time of buying/renewing your insurance policy.
Previous year's insurance policy documents (if any): If you have a previous year's insurance policy document, then you will have to submit it at the time of making a claim.
FIR copy (in case of theft): In case your bike has been stolen, then you will have to submit a copy of the FIR filed by you at the police station.
Estimate from the garage (in case of an accident): In case your bike has met with an accident, then you will have to submit an estimate from the garage for the repair/replacement of parts.
Discharge voucher and hospital bills (in case of third-party bodily injury): In case the third party has suffered bodily injuries in an accident caused by you, then you will have to submit the discharge voucher and hospital bills for the treatment availed by them.
Repair bills (in case of own damage): In case your bike has suffered damages due to an accident or any other reason, then you will have to submit the repair bills incurred by you.
No Claim Bonus (NCB) declaration: If you are renewing your bike's insurance policy and have not made any claims during the previous policy year, then you will have to submit an NCB declaration form.
ID proof: You will have to submit a copy of your pan card/Aadhaar card/voter ID card/passport as proof of identity.
Address proof: You will have to submit a copy of your ration card/Aadhaar card/passport/utility bills as proof of address.
What is NCB, IDV, and Nil-Depreciation in Bike Insurance?
No Claim Bonus (NCB):
It is a discount that is given to policyholders for not making any claims during the policy tenure. Suppose you have not made any claims during the previous policy year, then you will be eligible for a discount of 20% on the Own Damage premium in the next policy year. This discount will keep increasing every year up to a maximum of 50%.
IDV:
It stands for Insured's Declared Value and is the maximum amount that an insurance company will pay in case your bike is stolen or damaged beyond repair. It is calculated by taking into account the current market value of your bike, depreciation, etc.
Nil-Depreciation:
It is an add-on cover that provides coverage for the replacement of parts without considering depreciation. In other words, if your bike parts need to be replaced due to an accident or any other reason, then we will reimburse the entire amount without considering depreciation.
Factors Affecting Your Two-wheeler Insurance Premium
Type of Insurance Policy:
You can buy a third-party bike insurance policy, a comprehensive bike insurance policy, or an own damage two-wheeler insurance. A
third-party bike insurance policy is mandatory by law and covers damages caused by you to the third party. A comprehensive bike insurance policy, on the other hand, covers both own damage and third-party liability. Moreover, own damage bike insurance policies are of two types - with and without depreciation. The own damage two-wheeler insurance covers damages caused to your bike, irrespective of who is at fault.
Type of Bike:
The premium for your bike insurance policy will depend on the type of bike that you own. For example, if you own a sport bike, then the premium will be higher as compared to a standard motorcycle.
Cubic Capacity:
It is the engine capacity of your bike expressed in cubic centimeters (cc). The higher the cc, the higher will be the premium.
Risk Evaluation Based on Driver's Record:
We will check your driving record before finalising the premium. This will involve reviewing your age and gender. For example, if you are in your early 20s and just got your license, the premium you have to pay will be higher compared to someone who is middle-aged and has years of driving experience.
The Market Value of the Bike:
The premium you have to pay will also be based on the current market value of your bike. The market value depends on the brand and functionality of the vehicle.
Modifications Done on Bike:
If you have made modifications to your bike, then it will also be considered while finalising the premium. Some people install expensive parts and accessories for better perfromance and looks. This will result in a higher premium as the bike will be considered more valuable.
Add-on Covers:
You can also opt for add-on covers to get additional coverage. Some of the popular add-on covers you can opt for are nil depreciation, roadside assistance, engine protector, and pillion rider cover.
How to Save on Bike Insurance Premium?
There are a few things you can do in order to save on your bike insurance premium:
Do not just buy the first policy you come across. Instead, compare different policies from different companies in order to find the one that offers the best coverage at the most affordable price. You can use an online insurance aggregator to easily compare different policies.
Go for a higher deductible. A deductible is the amount you must pay out of your pocket before the insurance company starts paying. By opting for a higher deductible, you can lower your premium significantly. However, make sure you can afford to pay the deductible in an emergency.
Availing add-ons is a great way to save on your premium. For example, if you live in an area that is prone to flooding, then opting for the add-on cover of the engine protector will save you a lot of money in the long run as it will cover repairs due to water damage.
Install a security device that has been approved by the Automobile Association of India (AAI). This will lower your premium as it will make your bike less prone to theft.
Note: You can unlock substantial savings on your premium with our array of insurance discounts, such as
No Claim Bonus of up to 50%*, Antitheft discount of up to 10%*, Automobile Association of India Membership discount of up to 5%* and Renewal Discount of up to 10%*.
How to Calculate Bike Insurance Premium?
One of the easiest ways to calculate your motorcycle or scooter insurance premium is to use our two-wheeler insurance online calculator. Follow the simple steps:
Add the details of your bike, including make, model, registration year, etc.
Choose the type of policy you want. Enter the city you live in. Mention your age and gender. Add any add-on covers you want.
Click on 'Calculate Premium' and voila! You will get an instant quote for your bike insurance policy premium.
Things to Know About Two-wheeler Insurance
Premium:
The premium is the amount you have to pay for your two-wheeler insurance policy. It can be paid on a monthly, quarterly, or yearly basis.
Coverage:
Coverage is the amount of money the insurance company will pay in case of an accident or theft.
Deductible:
The deductible is the amount you have to pay out of your pocket before the insurance company starts paying.
Add-on covers:
Add-on covers are optional and will provide you with additional coverage. Some of the popular add-on covers include nil depreciation, roadside assistance, engine protector, and pillion rider cover.
Cashless Claims:
With a cashless claim, you can get your bike repaired at any of the network garages of the insurance company without having to pay anything out of your pocket.
Consumables:
Consumables are items that need to be regularly replaced and include things like engine oil, brake pads, etc.
No-Claim Bonus (NCB):
If you do not make any claims during the policy period, then you will be eligible for a no-claim bonus at the time of renewing your policy. This discount can go up to 50% and will lower your premium significantly.
Personal Accident Insurance:
Personal accident insurance is an add-on cover that will provide you with financial assistance in case of an accident.
Third-Party Liability:
Third-party liability is mandatory in India and will provide coverage if you accidentally damage someone else's property or injure them while riding your bike.
Policy Period:
The policy period is the duration for which your insurance policy is valid. It is typically one year and can be renewed after it expires.
IDV:
IDV or Insured Declared Value is the maximum amount that will be paid by the insurance company in case of an accident or theft.
Disclaimer:
*The discount varies basis vehicle specifications, No Claim Bonus discount and Geographical location of the vehicle to be insured. Discounts have been calculated on the basis of the rates prescribed under erstwhile Indian Motor Tariff. Discounts are applicable only to the Own Damage section and discounts may vary as per the vehicle make, model, RTO, and age of the vehicle.
Terms and conditions apply. *For more details on risk factors, terms conditions, brochure, and exclusions, please read the policy wording carefully before concluding a sale. Details mentioned are for the product- Reliance Two Wheeler Package Policy. Discount is not applicable on TVS models. Discounts mentioned above is based on Vehicle category, Loyalty, Parking & Driving experience. **Subject to terms and conditions.UIN-IRDAN103RP0011V02100001.
**The number of garages mentioned is the total of all the garages empanelled across the country for different vehicle categories.
Savings/discounting is on the Own damage portion of motor insurance only. Discount on premium depends upon various risk factors like vehicle risk category, NCB status, vehicle parking facilities, geography etc. Final quantum of discounting may change upon entering the vehicle and/or risk details.
