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Two Wheeler Campaign
Two Wheeler Long Term Key Benefits
One-time payment
Buy/Renew Insurance for Two Wheeler for a period of two or three years.
Comprehensive coverage
Coverage for your two wheeler, accessories,damages to Third Party property and life.
Transfer No Claim Bonus
Transfer your NCB when you move your insurance to Royal Sundaram from other insurers.
Protection of No Claim Bonus
NCB will not become nil in case of one claim during the currency of the policy.
Protection from inflation
No need to pay any extra premium even if there is an increase in Third party premium during the course of the policy period.
Easy to Keep Record for Bike
Only one policy document will be issued for the entire policy period of 2/3 year.
Why Royal Sundaram Two Wheeler Insurance?
Buy or Renew your two wheeler insurance instantly online and save your time and money.
Insurance for brand new two wheeler
Buy Insurance for Brand New Two Wheeler for a period of two or three years.
Claim settlement
Claim settlements processed within 10 working days.
Comprehensive coverage
Comprehensive coverage for your two wheeler, accessories, damages to Third Party property and life.Owner cover up to 15 lakh in accident cases.
Owner-Driver cover up to 15 lakh in accident cases
Owner-Driver cover up to 15 lakh in case of a bike accident.
Coverages
This two wheeler Insurance policy covers any loss or damage caused to the vehicle due to the following natural and manmade calamities:
- Accidental & External Damage
- Fire & Explosion
- Riot & Strike
- Malicious Act
- Burglary, housebreaking/ Theft
- Landslide
- Earthquake
- Storm and Flood
- Terrorism
- Wear and tear, Depreciation or any consequential loss.
- Mechanical/ electrical breakdown.
- Damage caused by a person driving the vehicle without a valid license.
- Damage caused by a person driving the vehicle under the influence of alcohol or drugs.
- Other exclusions as per the policy terms and conditions.
Claims
Procedure to make Two Wheeler Insurance Claim
As soon as a claim occurs, please call us at 1860 425 0000 or write to us at customer.services@royalsundaram.in, our customer service executive will be happy to help you with the claims procedure.
1.Inform Royal Sundaram immediately and keep the following details on hand:
- Policy Details
- Contact Details
- Loss Details
2.Please refrain from dismantling or repairing the vehicle before survey is completed.
3.Survey will be arranged on receipt of claim intimation and submission of detailed estimate of repairs from the repairer.
4.Documents must be provided to the repairer/surveyor prior to survey.
5.Duly filled and signed claim form. Please note that it is mandatory to update Aadhaar and PAN details. For company owned vehicles, signature of authorized signatory along with company seal is required.
6.Registration Certificate of the vehicle along with photocopy. Original to be verified and returned.
7.Driving License of the driver at the time of accident along with photocopy. Original to be verified and returned.
8.FIR from police station if third party death/ injury or property damage.
9.If the claim amount exceeds Rs. 1,00,000, we require a copy of your PAN Card along with a recent passport photo.
10.Other documents may be requested based on the requirements of the claim.
11.If all documents are found to be in order, we will arrange for cashless facility. You may collect the vehicle after completing a satisfaction voucher and paying any amount as required.
12.For Non cashless claims (reimbursement claims), original cash bill or Invoice with cash receipt is required for settlement of claim.
13.Vehicle may have to be produced for re-inspection, if requested by surveyor.
FAQs
A Two wheeler Insurance Policy is mandatory under the Motor Vehicle Act. Every two wheeler owner must have an insurance which covers third party injury, death or property damage. With Two wheeler Insurance, you can cover-
- Two wheeler against theft, accidents, disasters such as floods, earthquake, fire, etc.
- Family members (including self) with Personal Accident Policy
- Pillion riders
- Damage to someone else's vehicle or property
- Injury/Death of another person due to accident caused
- Insured's Declared Value (IDV)
- Cubic Capacity of the vehicle
- Geographical Zones
- Age of the two wheeler
The geographical zones are-
Zone A - Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai, New Delhi and Pune.
Zone B - Rest of India
Factors that affect your 2 wheeler insurance premium are:
- Insured Declared Value or IDV (present market value of the vehicle)
- Cubic Capacity (CC) of the vehicle
- Place of registration (Zone A / Zone B)
- Age of the vehicle
- Policy Tenure 2 /3 years
IDV for each year (1st year, 2nd Year and 3rd Year) will be computed as per depreciation chart in Motor Tariff. The same will be reflected in the policy wordings. An illustration is given below Example: A Two wheeler invoiced at and purchased on 01.06.2013 for Rs.40,000 shall be covered for following IDVs for the Long Term Motor Two Wheeler Package Policy during 01 06 2016 to 31 05 2018:
| Period of Insurance | Depreciation | IDV | |
| From | To | ||
| 01.06.2016 | 31.05.2017 | 30% | 28,000 |
| 01.06.2017 | 31.05.2018 | 40% | 24,000 |
| 01.06.2018 | 31.05.2019 | 50% | 20,000 |
The following rates of depreciation shall apply for replacement of parts for partial loss claims in respect of all categories of vehicles / accessories.
| SL.NO | CATEGORY | RATE |
| 1. | Rate of depreciation for all rubber nylon/ plastic parts, tyres and tubes, batteries and air bags | 50% |
| 2. | Rate of depreciation for all fibre glass components | 30% |
| 3. | Rate of depreciation for all parts made of glass | Nil |
| 4. | Rate of depreciation for all other parts including wooden parts is to be as per the following schedule |
|
| AGE OF THE VEHICLE | % OF DEPRECIATION |
| Not exceeding 6 months | Nil |
| Exceeding 6 months but not exceeding 1 year | 5% |
| Exceeding 1 year but not exceeding 2 years | 10% |
| Exceeding 2 years but not exceeding 3 years | 15% |
| Exceeding 3 years but not exceeding 4 years | 25% |
| Exceeding 4 years but not exceeding 5 years | 35% |
| Exceeding 5 years but not exceeding 10 years | 40% |
| Exceeding 10 years | 50% |
Three Year Policy:
For a New vehicle, the NCB will normally begin at 0% and will remain so for the duration of the policy. If there is no accident during the currency of the policy, we will offer 35% NCB on renewal of the policy for the next slab of 3 years. You will be given a choice to opt for either a 2 year or 3 year policy at the time of renewal. If one claim is reported during any of the three years, the NCB on next renewal will drop by one slab to 25%. If 2 claims are reported during the current term of the policy, You will not be eligible for any NCB on renewal.
Two Year Policy:
For a New vehicle, the NCB will begin at 0% and will remain so for the duration of the policy. If there is no accident during the currency of the policy, we will offer 25% NCB on renewal of the policy for the next slab of 2 years. You will be given a choice to opt for either a 2 year or 3 year policy at the time of renewal. If one claim is reported during any of the two years, the NCB on next renewal will drop by one slab to 20%. If 2 claims are reported during the current term of the policy, You will not be eligible for any NCB on renewal. The same logic will follow for old vehicles for various slabs of eligible NCB at the time of taking the policy. If You are eligible for NCB, You will be offered that NCB for the period of three years. On renewal, the next slab of NCB (as provided in the Policy Wordings) will be offered. An illustration of NCB applicability at renewal for various scenarios is given below:
| Expiring Policy Tenure - 2 Years | ||
| NCB at inception | No of OD Claims | NCB eligibility on renewal |
| 0% | 0 | 25% |
| 0% | 1 | 20% |
| 0% | 2 or more | 0% |
| 20% | 0 | 35% |
| 20% | 1 | 25% |
| 20% | 2 or more | 0% |
| 25% | 0 | 45% |
| 25% | 1 | 35% |
| 25% | 2 or more | 0% |
| 35% | 0 | 50% |
| 35% | 1 | 45% |
| 35% | 2 or more | 0% |
| 45% | 0 | 50% |
| 45% | 1 | 45% |
| 45% | 2 or more | 0% |
| 50% | 0 | 50% |
| 50% | 1 | 45% |
| 50% | 2 or more | 0% |
Expiring Policy Tenure - 3 Years
| NCB at inception | No of OD Claims | NCB eligibility on renewal |
| 0% | 0 | 35% |
| 0% | 1 | 25% |
| 0% | 2 or more | 0% |
| 20% | 0 | 45% |
| 20% | 1 | 35% |
| 20% | 2 or more | 0% |
| 25% | 0 | 50% |
| 25% | 1 | 45% |
| 25% | 2 or more | 0% |
| 35% | 0 | 50% |
| 35% | 1 | 45% |
| 35% | 2 or more | 0% |
| 45% | 0 | 50% |
| 45% | 1 | 45% |
| 45% | 2 or more | 0% |
| 50% | 0 | 50% |
| 50% | 1 | 45% |
| 50% | 2 or more | 0% |
- Fire, explosion, self ignition or lightning
- Burglary, housebreaking or theft
- Riot or strike
- Earthquake (fire and shock damage)
- Flood typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost
- Accidental external means
- Malicious act
- Terrorist activity
- Whilst in transit by road, rail, inland- waterway, lift, elevator or air
- Whilst in transit by road, rail, inland- waterway, lift, elevator or air
- Voluntary Deductible discount
- No Claim Bonus
- Automobile Association Discount
- One-time payment – Premium for all three years to be paid at inception for a long term insurance.
- Convenience – Free from hassles of renewing your policy each year.
- Protection of No claim bonus – NCB will not become nil in case of one claim during the currency of the policy.
- Protection from inflation – No need to pay any extra premium even if there is an increase in Third party premium during the course of the policy period.
- Easy to keep record – Only one policy document will be issued for the entire policy period of 2/3 year.
Third party refers to people who are not your family members or property you don't own.
During a Claim, certain minimum amount is deducted from the Insured. The amount deductible is Rs.100/- for all two wheeler Own damage claims
IDV means Insured's Declared Value. It is the value of the vehicle, which is arrived at by adjusting the current manufacturer's listed selling price of the vehicle with depreciation percentage as prescribed in the Tariff.
Manufacture's listed Selling Price will include Local Duties/Taxes, excluding Registration and Insurance. For the vehicles that are obsolete or aged over 5 years, the IDV will be the value agreed between the Insurer and the Insured.
The value of the obsolete vehicles and the vehicles aged over 5 years are arrived by our Assessment Team with the help of various resources like IMAs, Panel of Surveyors, Car Dealers, Second Hand Car dealers, etc.
Depreciation slabs for arriving at IDV are below:
| AGE OF THE VEHICLE IDV | % OF DEPRECIATION FOR FIXING |
| Not exceeding 6 months | 5% |
| Exceeding 6 Months but not exceeding 1 Year | 15% |
| Exceeding 1 Year but not exceeding 2 Years | 20% |
| Exceeding 2 Years but not exceeding 3 Years | 30% |
| Exceeding 3 Years but not exceeding 4 Years | 40% |
| Exceeding 4 Years but not exceeding 5 Years | 50% |
An endorsement is a written evidence of an agreed change to a policy. It is a document that incorporates changes in the terms of the policy. If there are any alterations to be done in the policy the customer needs to approach the Insurance Company to effect the change in the policy. This is done by way of an endorsement.
An endorsement may be issued at the time of issuing the policy to provide additional benefits and cover (e.g., legal liability to driver) or to impose restrictions (e.g., accidental damage deductible). The wordings of those endorsements are provided in the tariff. An endorsement may also be issued subsequently to record changes such as change of address, change of name, change of vehicle etc.
No Claim Bonus is a reward for filing no claim in the previous year. It can be accumulated over a period of insurance. NCB starts with 20% and goes up to 50%
- NCB becomes nil in case of a Claim
- NCB follows the fortunes of the customer and not the vehicle
- The validity period to reclaim NCB is 90 days from the date of Expiry of the policy
- NCB can be utilized within 3 years (in case if the existing vehicle is sold and a new car is purchased)
- NCB recovery to be done in case of a Name Transfer
- NCB gets transferred to the legal heir in case of Death of customer
- NCB can be transferred to a new vehicle in case of Substitution of vehicle of the same class
- NCB earned abroad can be given in India
If you have a break in your two wheeler insurance please contact nearest branch for further details
- There are 2 types of Two wheeler Insurance. Personal Accident cover for Owner-Driver is also included in Third Party Insurance. Covering your Two wheeler with at least Third Party Insurance is mandatory, as per the Motor Vehicles Act.
- (i) Third Party Policy - This is a Liability Only Policy and covers all third party liabilities such as -
- Bodily injury or death of third party
- Property Damage of third party
- (ii) Package Policy - This covers Loss or Damage to the vehicle insured (Own Damage) in addition to the Third party cover. It is also known as comprehensive cover. You can cover your two wheeler against damage due to -
- Road accidents
- Theft
- Fire accidents
- Natural disasters such as flood inundation, lightning, cyclone, etc
- Riot or strike
- (i) Third Party Policy - This is a Liability Only Policy and covers all third party liabilities such as -
- If your two wheeler has been stolen, the first thing to do will be to file a police report.
- Notify your insurance company as soon as you file the police report, this will help in case the thief has caused some damage to others with your two wheeler. Also please note, your insurance company will not process your claim if you have not filed a report with the police.
- When you notify your insurance company, provide them all the details of loan/lease of your two wheeler along with the FIR.
- Provide them with a description of your two wheeler, mileage, service record if any. Also submit the list of personal items stolen along with the two wheeler
- It is also important to inform your RTO of the theft.
- Inform your financier immediately of the theft and ask them to discuss the case directly with your insurer this might expedite the claim process.
- In case the police recover the vehicle, inform your insurer about the same.
- If the vehicle is recovered, the Insurance company is liable to pay compensation on damages caused to the vehicle as per the terms and conditions of your policy and for stolen items if any, which are covered under your policy.
- If the vehicle is not recovered, the police have to provide a Non-Traceable Certificate (NTC) and the court will have to give a final report under sec 173 Crpc.
- If you have taken a vehicle loan to purchase your two wheeler, the insurer will settle the amount directly to the financier. The settlement amount is on the Insured Declared Value (IDV). This might however differ based on usage and market value.
- In the event of an accident-Please arrange for medical attention if anyone suffers injuries. Take down particulars of other vehicles/people involved, if any. Please do not accept any negligence for the accident nor commit to anybody regarding compensation, if any.
- In the event of injury, death, third party property damage, burglary, theft, house -breaking and damage due to malicious act, riot, strike and terrorist activity, immediate information to the police station concerned is essential.
- If the accident is severe in nature, and the vehicle cannot be moved, ensure proper protection of the vehicle at the spot. Please do not attempt either to start the engine or drive the vehicle after the accident and before required repairs.
- Arrange to shift the vehicle to the nearest garage of your choice and ask them to prepare a detailed estimate (labor charges with list of parts along with its prices).
- Please do not dismantle or alter the accident condition of the vehicle or repair till the vehicle is surveyed/assessed by a surveyor. Also to ensure that no parts or accessories are missing at any point of time.
- Inform us about any accident or loss immediately.
- Please submit the duly/completely filled-in claim form to us.
- Please contact us for guidance on the cashless facility to avail direct payment facility by us to such a repairer.
- Documentation to be submitted for verification & return (along with a set of photo copies).
- Original vehicle registration book (including the fitness certification, if it is a separate document).
- Original driving license.
- Documentation for submission.
- Copy of the police complaint (FIR)
- Estimate of repairs.
- We may seek additional document(s) or ask for clarification(s) for processing your claim and that depends upon the claim. Please arrange to submit the same.
- All damages / losses will be surveyed and assessed by a surveyor / assessor and admissibility of the claim and mode of settlement is decided only after the process.
Please note: Ensure that you give us the correct & complete contact details (address /telephone no's / mail IDs in the claim form. If you receive any notice or summon with regard to the accident (other than criminal proceedings, if any), contact us with the petition copy.