Reliance Bike Insurance

Reliance Bike Insurance Policy – Key Features

*Disclaimer: The features mentioned above are for reference only. Please go through the policy document for precise details.

Why Choose Reliance Bike Insurance Policy?

You should opt for Reliance bike insurance policy due to the reasons listed below:

• Offers a flawless way to buy or renew your bike insurance policy.
• Get a Personal Accident (PA) cover of ₹15 lakh.
• Enjoy the no-inspection renewal process for selected plans.
• There is a facility for cashless claim settlement across 10,000+ network garages.
• Multiple two-wheeler insurance add-ons are available, offering enhanced coverage and customisation of the policy.
• The company specialises in servicing and settling claims as quickly as possible.
• The insurer provides a 24/7 customer assistance service.
• A No Claim Bonus (NCB) is given to policyholders for every claim-free year.

Types of Reliance Bike Insurance Policy

Reliance General Insurance Company Limited is one of the leading general insurance providers in India. The company offers a wide range of insurance products to meet individuals' diverse needs.

Mentioned below are the different types of bike insurance policies offered by the insurer:

1. Reliance Two Wheeler Policy Standalone Own Damage

   This Reliance bike insurance policy focuses solely on covering damage to your own vehicle, such as from accidents, theft, man-made disasters and natural calamities. You can purchase this own-damage bike insurance policy only if you already have a separate third-party liability coverage.

2. Third-Party Long-Term 2 & 3-year Two-Wheeler Insurance Policy

   A third-party long-term two-wheeler insurance policy is especially designed to cover third-party liabilities, like damages caused to other person's property or injuries caused by your bike. The policy comes with a duration of 2 and 3 years and also includes personal accident cover for the owner-driver.

3. Reliance Two-Wheeler Policy - Bundled

   This Reliance bike insurance provides all-around protection by covering your bike against damages, third-party liabilities, and personal accident risks for the owner-driver. Notably, this policy is available for new two-wheelers in India, offering 5 years of coverage for third-party liabilities and 1 year for own damages.

4. Reliance Two-Wheeler Package Policy

   It is a comprehensive bike insurance plan that covers a wide range of risks. It protects your bike against loss or damage from accidents, theft, natural disasters, and more. It also includes third-party liability coverage and provides Personal Accident (PA) cover for the owner-driver.

5. Long-Term Two-Wheeler Package Policy

   A long-term two-wheeler package policy provides financial protection for your two-wheeler for either 2 or 3 years, covering damage or loss to the insured bike, third-party liabilities, and personal accident cover for the owner-driver. This long-term policy eliminates the need for annual renewals.

6. "A" Policy for Act Liability Insurance (Two-Wheeler) - 5 Years

   This two-wheeler insurance policy by Reliance General Insurance Company Limited offers third-party liability coverage for 5 years and commonly known as a third-party bike insurance policy. It covers damages or injuries your bike may cause to others and includes personal accident cover for the owner-driver.

7. 7. Reliance Two-Wheeler Package Policy - 5 Years

   Reliance two-wheeler package policy - 5 Years offers extensive coverage for a long term of 5 years. The policy protects the insured vehicle from any loss or damage, covers third-party liabilities, and includes PA cover for the owner-driver. It is an ideal option for those who prefer consistency and long-term protection.

*Disclaimer: The inclusions and exclusions mentioned above are for informational purposes only. For detailed information, please refer to the policy document.

Depreciation Rates for Different Parts of a Bike

Here are the depreciation rates applicable to various parts of a two-wheeler:

• Paint materials: 50% depreciation is applicable.
• Glass parts: No depreciation is applicable.
• Rubber/plastic/nylon parts, tyres, tubes, airbags, & batteries: 50% depreciation is applicable.
• Fibreglass parts: 30% depreciation is applicable.
• All other parts, including wooden components: Depreciation rates mentioned in the policy document will apply.

Depreciation Based on the Age of the Bike

The table below outlines the depreciation rates based on the age of the two-wheeler:

*Disclaimer: The depreciation rates provided are for general reference. Please refer to the policy documents for exact details.

Personal Accident (PA) Coverage for Bike Owners

Reliance bike insurance offers personal accident coverage for the owner-driver of the insured 2 wheeler, with a maximum limit of ₹15 lakh. The payout is applicable only in cases where a road accident results in death or permanent total disability. The table below highlights the payout amount based on the extent of the injury:

Important Points to Consider Under Personal Accident (PA) Cover

Personal Accident (PA) coverage up to ₹15 lakh is offered only for each policy term. Notably, this compensation is available only for one of the conditions listed in the table above. Moreover, no compensation will be paid for injuries or death resulting from pre-existing health conditions, suicide, accidents occurring while the driver is under the influence of drugs or alcohol, or self-harm.

How to Buy/Renew Reliance Bike Insurance?

Check out the steps on how you can buy or renew your Reliance two-wheeler insurance policy through Policybazaar.com:

• Step 1: Start by visiting Policybazaar.com and select 'Bike Insurance' under the 'Insurance Products' menu on the top.
• Step 2: Enter your two-wheeler's registration number and press the 'View Prices' button. If you do not have a registration number, you can click on the 'Bought a New Bike' option.
• Step 3: Make appropriate selections, such as model, RTO, etc., related to your bike, and proceed by tapping on the 'View Plans' button.
• Step 4: Analyse the list of recommended bike insurance plans and select the best-suited Reliance two-wheeler insurance policy.
• Step 5: Make a decision on whether you wish to purchase a comprehensive or third-party bike insurance policy.
• Step 6: Opt for the required add-on covers in order to enhance your base policy.
• Step 7: Pay the bike insurance premium online via the preferred payment mode. On successful payment, you will receive your Reliance bike insurance policy on the registered email ID.

How to File a Reliance Bike Insurance Claim?

The steps to file a Reliance bike insurance claim differ depending on the type of claim. The claim process for each claim type is included below:

1. For Theft Claim

   Have a glance at how to raise a theft claim:

   • Step 1: As soon as you realise your bike has been stolen, go to the nearest police station and file an FIR.
   • Step 2: Send a copy of the FIR to your insurance company to get the process started.
   • Step 3: A surveyor appointed by your insurer will review the case.
   • Step 4: Inform the Regional Transport Office (RTO) about the theft.
   • Step 5: Gather and submit the necessary documents to support your claim.
   • Step 6: If the bike remains untraced for over a month, get an 'untraceable report' from the police to finalise the claim.

2. For Accident Claim

   Accidental two-wheeler claim can be raised by following the steps below:

   • Step 1: Report the accident to your insurance provider and fill out the claim form available on their website.
   • Step 2: An insurance company surveyor will visit the accident site to assess the damage to your vehicle.
   • Step 3: Collect all the required documents and submit them to your insurer.
   • Step 4: If you get your bike repaired in any of the insurer's network garages, the insurance company will cover the repair costs directly. On the other hand, if you choose a different garage, you will have to pay the repair cost initially, and the insurer will reimburse you later directly in your bank account.

3. 3. For Third-Party Claim

   The step-by-step process of raising a third-party claim is as follows:

   • Step 1: Inform your insurance provider about the accident as soon as possible.
   • Step 2: If you receive any court summons, send them to your insurer.
   • Step 3: Submit the duly filled and signed claim form to your insurance company.
   • Step 4: Collect and send all the supporting documents to the insurer.
   • Step 5: The Tribunal Court will evaluate the case and make a decision.

Documents Required for Raising Reliance Bike Insurance Claims

Mentioned below are the documents you will need for raising the Reliance bike insurance claim, depending on the claim type:

1. 1. For Theft Claims

   Listed below are the documents required for raising a theft claim:

   • Completed and signed claim form
   • Valid driving licence
   • Current two-wheeler insurance policy
   • First Information Report (FIR) from the police
   • Photocopy of the bike's RC and all original keys
   • 'No-Trace Report' issued by the police confirming the vehicle is untraceable.

2. 2. For Accident Claims

   For an accident claim, you will need to furnish the following documents:

   • Filled and signed claim form
   • Driving Licence (DL) of the driver
   • Original vehicle Registration Certificate (RC)
   • Copy of the initial two pages of your two-wheeler insurance policy
   • First Information Report (FIR) or Motor Collision Report (MCR)
   • Repair invoice and payment receipt (only the invoice is needed if the bike is repaired at a cashless network garage)

3. 3. For Third-Party Claims

   The following documents will be needed for claims involving third-party:

   • Signed and completed claim form
   • Company stamp (if the vehicle is registered under a company)
   • Original Driving Licence (DL)
   • Copy of the bike's registration certificate
   • Two-wheeler insurance policy document
   • Police FIR