Reliance bike insurance offers 3 types of bike insurance plans: Reliance Comprehensive Bike Insurance, Reliance Own Damage Bike Insurance and Reliance Third Party Bike Insurance. The premium of these plans start from Rs. 182/yr. The coverage under Reliance two wheeler bike insurance would depend on the type of policy you choose, check the details below:
Starting Premium- ₹ 714/yr
Comprehensive package policies, on the other hand, go a step further and also cover the damages suffered by the bike. The coverage under comprehensive package bike insurance policies is allowed for the following instances
Starting Premium- ₹ 182/yr
A policy which covers only the damages suffered by the bike
Starting Premium- ₹ 714/yr
Third party liability policy is mandatory by law. All bike owners are required to own third party coverage on their bikes if they wish to drive the bike on Indian roads. Third party policies cover the financial liability that you face in the following conditions
The liability that you face in any of these situations is paid by the third party liability coverage.
Add-ons are additional coverage benefits which can be chosen voluntarily by paying an additional premium. Add-ons help increase the scope of coverage of the bike insurance policy. Reliance two wheeler insurance plans offer the following types of add-ons with the comprehensive policy:
Since depreciation is not covered under two wheeler insurance plans, in case of a claim, the estimated depreciation is deducted from the costs incurred in repairing or replacing the damaged parts of the bike. As such, the claim amount is reduced considerably. The depreciation which is deducted from the different parts of the bike is as follows
|Types of parts of the bike
|Rate of depreciation applicable
|Rubber, plastic or nylon parts
|Tyres and tubes
|As per the depreciation of the Insured Declared Value of the bike
The nil depreciation add-on removes the effect of depreciation from bike insurance claims. If you have chosen the add-on, the company would pay the full claim irrespective of the above-mentioned rates of depreciation.
Reliance two-wheeler insurance policies offer you the following features and benefits
Reliance two wheeler insurance policies provide a good scope of coverage to the bike.
However, in the following instances, any subsequent claim would not be paid
In order to get the settlement of your two wheeler insurance claims, you are required to follow a specific claim process. This process is as follows
Instead of taking these steps for claim settlements, you can also inform Turtlemint for the settlement of your Reliance two wheeler insurance claims. If you have bought the policy from Turtlemint, the company would help you in getting your claims settled. You would just have to inform Turtlemint at 1800 266 0101 or by writing a mail to firstname.lastname@example.org and your claim would be registered. Thereafter, Turtlemint’s team of experts would follow the claim process and get you the delivery of your bike.
Customer Care Number
Renewal of Reliance two wheeler insurance policies is easy as you can renew online. To renew, visit the home page of the company at https://www.reliancegeneral.co.in/Insurance/Home.aspx and choose ‘Renew’. Choose ‘Renew two wheeler insurance’ and you would be guided to a new page. Provide the registered mobile number to receive an OTP for authentication purposes. You would then be able to check your existing policy and renew it online by paying the renewal premium.
Even Turtlemint allows you to renew your Reliance two wheeler insurance policy. If you are an existing customer, you can log into your account and renew the policy from Turtlemint’s platform by paying the renewal premium.
IDV means the Insured Declared Value of the bike and it represents the coverage level of your bike insurance policy. The value is arrived at by deducting the depreciation from the market value of the bike. Depreciation depends on the age of the bike and is as follows
|Age of the bike
|Rate of Depreciation
|Up to 6 months
|More than 6 months but less than 1 year
|More than a year but less than 2 years
|More than 2 years but less than 3 years
|More than 3 years but less than 4 years
|More than 4 years but less than 5 years
IDV is paid if the bike is stolen and not recovered or if the bike is damaged beyond repair.
Bike insurance premiums are calculated based on the following factors
Though Reliance offers you a zero documentation purchase process, you would have to provide the following details to buy a Reliance two wheeler insurance policy
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