Reliance General Insurance Company Limited is a part of the Reliance Group of industries, a reputed Indian conglomerate. Reliance General has been in the general insurance business for quite a few years and has a huge customer base. The company offers a range of general insurance products for its customers and a two-wheeler insurance policy is one such product offered by the company. Reliance General Insurance is present across India through 139 offices in different cities and more than 28,900 intermediaries selling its insurance plans.
When it comes to two-wheeler insurance, Reliance offers different types of two-wheeler insurance plans which offer readymade coverage benefits for all types of customers.
Reliance two-wheeler insurance policies offer you the following features and benefits –
Reliance offers the following types of two-wheeler insurance plans –
Name of the plan
Two-wheeler Own Damage (OD only) policy
A policy which covers only the damages suffered by the bike
Two wheeler insurance
A one year comprehensive policy which covers both third party liability and damages suffered by the bike
Long term two wheeler insurance
A long term third party liability policy which has a coverage duration of 5 years
Long term two-wheeler package policy – Bundled
A bundled policy which allows third party coverage for 5 years and own damage coverage for one year
Third party liability insurance
A policy which covers only the third party liability that you face
Coverage available under two-wheeler insurance policies depend on the type of policy that you choose. Though Reliance offers a range of two-wheeler insurance plans, there are basically two broad types of policies which are as follows –
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.
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 –
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 –
Comprehensive Reliance two wheeler insurance policies also offer you a choice of add-ons for an enhanced scope of coverage. Add-ons are additional coverage benefits which can be added to the policy for increased benefits. The add-ons which Reliance offers with its two wheeler policies are as follows –
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.
Under this add-on cover, you get covered for accidental death and disablements suffered anywhere in the world. Moreover, the coverage would also be applicable to any individual driving the bike. This add-on cover is available for INR 5 lakhs which is payable in case of accidental death, disablement, loss of sight and loss of limbs.
Under this add-on, if your bike is at the networked garage for repairs for more than three days, you would get a daily cash allowance for your conveyance expenses. You can choose any amount of allowance up to a maximum of INR 5000/day.
If your bike is in repairs at a networked garage for more than 30 days, up to three loan EMIs would be paid by Reliance on the loan that you might have taken on your bike.
This add-on covers the loss or damage of the helmet in an accident. Under this add-on, the insurance company pays the cost incurred in replacing your lost helmet. You can avail coverage of up to INR 50,000 and also cover multiple helmets in a year.
Discounts available under Reliance two wheeler insurance plans
Reliance two wheeler insurance plans allow different types of discounts on the premiums that you are required to pay for the policy. These discounts help in lowering the premium rate and save your hard earned money. The available discounts are as follows –
If you do not make a bike insurance claim in a policy year, you get a no claim bonus. This bonus also increases after every successive claim-free year. With the bonus that you avail, you can claim a discount on the renewal premium of the policy. The available no claim bonus discount in Reliance two wheeler insurance plans is as follows –
No claims in the first policy year
20% no claim discount
No claims in the two successive policy years
No claims in three successive policy years
No claims in four successive policy years
No claims in five or more successive policy years
You can also get a premium discount if you opt for a voluntary deductible. Voluntary deductible is a part of the claim which you bear yourself. Since you share the claim burden, the insurance company offers you a discount. The available premium discount at different levels of voluntary deductible are as follows –
Voluntary deductible selected
Applicable premium discount
5% of the own damage premium up to a maximum of INR 50
10% of the own damage premium up to a maximum of INR 75
15% of the own damage premium up to a maximum of INR 125
20% of the own damage premium up to a maximum of INR 200
Besides these two types of primary discounts, there are other types of discounts too which include discounts for installing safety devices, being a member of a reputed automobile association, modifying the bike for the use of a disabled, etc.
How to buy Reliance two wheeler insurance policies?
You can buy Reliance 2 wheeler insurance plans online from the website of the company itself. Online purchases are hassle-free and require no elaborate documentation. You just have to provide the details of your bike to check the premium. Then, choose a suitable policy among the different plans offered by the company. Once you have selected the policy, fill up an online form and pay the premium to get the policy issued.
You can also buy Reliance two wheeler insurance policy from Turtlemint. Turtlemint offers you personalised assistance and hassle-free purchase process. To buy online through Turtlemint, you should take the following steps –
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.
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.
To get the claim settled under your Reliance two wheeler insurance policy, the following documents would have to be submitted –
Once the documents are submitted, the claim would be processed and settled by Reliance.
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.
A compulsory deductible is the amount of claim which you are compulsorily required to pay under your bike insurance policy every time that you make a claim. The insurance company then pays the remaining claim after the compulsory deductible is paid by you.
Bike insurance premiums are calculated based on the following factors –
The list of cashless garages is available online on the company’s website. You can visit the website of the company, enter your state and city and the list of networked garages in your location would be displayed. The nearest cashless garage in your location can also be found by calling the company’s helpline number 1800 3009 where the company’s executive would guide you inform you about the garages in your area.
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 –