United India Insurance has been at the forefront of selling insurance policies for a long time now. The company was incorporated on the 18th of February 1938. And along with several other insurance companies, United India insurance became nationalized in 1972. Ever since the insurance company has only moved forward in terms of growth and sales. United India insurance employs more than 18,300 employees and has 1340 offices pan India.
United India Insurance has a varied range of products to cater to different needs and requirements. The insurer offers coverage to more than 1 crore policyholders. United India has been extremely successful in creating complex and unique solutions for customers such as GMR for Hyderabad International Airport, Tirupati-Tirumala Devasthanam, ONGC limited, etc. United India has also implemented several large scale projects such as Universal Health Insurance Program for the Government of India, insurance against Tsunami, which covers over 4.59 families in 4 states, Vijaya Raji Janani Kalyan Yojana which covers 45 lakh women in Madhya Pradesh.
If you are on the fence whether to select United India bike insurance or not, here are some major reasons why you should go ahead with the insurer.
Riding on Indian roads is a dangerous proposition. It isn’t always about you riding carefully or about following rules. There are several instances where one might be at the receiving end of the carelessness of someone else. However, the agony doesn’t stop there. If there are any damages or injuries, you must pay for those from your pockets. Unless you have United India bike insurance. Riding a bike involves risk right from the moment you take it out of your building or house gate.
The presence of United India bike insurance will negate any such unforeseen events. While it might not be able to help you avoid accidents or incidents, it surely will take care of the financial side of things. United India two-wheeler insurance plans are comprehensive plans that offer great value for your money.
Here are some key features of United India two-wheeler insurance:
You can buy United India bike insurance plan in two simple trims. The third-party liability trim or the package trim. Here are the details.
A third-party liability policy is the most basic bike insurance policy that you can buy. If a policyholder meets with an accident and there is damage or injury to other individuals or properties, the policy has your back. Essentially it covers the liabilities to a third party in the case of an accident.
The plan also includes a personal accident cover for the owner of the bike or the rider of the bike. The minimal coverage on offer ensures that the policy premiums are low as compared to a comprehensive plan. Recent amendments to the Motor Vehicles Act, the same act which mandates third-party liability policy, means that new bikes will be sold along with a five-year third-party liability policy.
Bikers who need additional coverage apart from the bare minimum third party liability policy can rely on package policy. The package policy or comprehensive policy offers a lot of additional features and benefits at an additional premium. It includes the mandatory third-party liability policy and offers own damage cover for the bike owner.
The plan offers coverage against natural calamities such as floods, cyclones, hurricanes, etc. man-made calamities such as strikes, riots, terrorism, etc. You can also opt for a personal accident cover of INR 15 lakh along with the plan. Bikers who already have existing insurance of INR 15 lakh or more can choose to bypass this feature.
United India two-wheeler insurance is available for a longer duration as well. You can opt for the third-party liability policy or even the Package policy for a duration of 5 years. This is to keep in line with the amendments to the Motor Vehicle Act.
As a policy buyer or potential policy buyer, it is recommended that you get into the habit of briefly understanding the policies that you are investing in. This will help you better understand the policy and avoid possible claim rejections, due to not being aware of the exclusions. Policy coverage refers to all the scenarios and situations where your policy holds good. On the other hand, exclusions are all the scenarios that your policy does not cover.
On buying United India two-wheeler insurance, you get access to the following coverage.
When you buy United India bike insurance, the following scenarios are not covered in the policy.
One of the advantages of buying United India two-wheeler insurance is that you can enhance the capabilities of the policy with the help of add-ons. You can plug in add-ons or riders to your United India bike insurance if there is a need for additional coverage, apart from the standard policy. Here are the add-ons that you can choose from.
If you are someone who likes to ride a lot, the idea of crossing borders to another country on your bike is an enticing temptation. However, the risks of riding a bike follow to other countries as well. Fortunately, with United India two-wheeler insurance, you can extend the geographical borders of your policy. By paying a small premium, you can extend your policy coverage to countries like Nepal, Pakistan, Bangladesh, Bhutan, and the Maldives.
The owner of the bike can opt for this add-on if they frequently provide rides to others as pillions or have someone else ride their bike. The personal accident cover for an unknown person will offer compensation in the case of injuries, death or disability of the individual.
This add-on provides cover for all the non-electrical accessories of the bike such as the mirror, carry bags, helmets, etc. Should there be any damage to these parts, the policy will compensate for the same.
Nil depreciation or zero depreciation is one of the most famous add-ons as far as bike insurance policies are concerned. When you claim your policy, the insurance company will compensate for the repairs or replacement of parts but only after deducting the depreciation. You will end up paying the difference from your pockets. However, opting for the nil depreciation cover ensures that you do not have to pay for the depreciation of parts.
Bikers usually add a few electrical or electronic accessories to add appeal to their bikes. If you have done any such modifications, opting for the electrical or electronic accessories add-on might be beneficial. By paying a small amount in premium, you can get adequate coverage for these modifications.
United India bike insurance follows the below depreciation rate for its different bike parts.
Depreciation in %
Up to 6 months from buying the plan
Between 6 months and a year of buying the plan
Between 1 year and 2 years of buying the plan
Between 2 years and 3 years of buying the plan
Between 3 years and 4 years of buying the plan
Between 4 years and 5 years of buying the plan
Between 5 years and 10 years of buying the plan
Above 10 years of buying the plan
The eligibility criteria for buying United India two-wheeler insurance are as follows.
Your bike must be registered at a local RTO and you must have a valid registration certificate for your bike.
If you have made any aesthetic or performance modifications to your bike, it is recommended to mention the same to the insurer.
You must pay the policy premium to secure a policy from United India insurance for your bike.
Should you decide to sell your bike, it is recommended that you transfer the policy to the new owner of the bike. The new owner must then buy a new policy for the bike.
Bike insurance policies usually range from one to three years. It is essential that you renew your policy before it expires, else you will miss out on the features. Missing to renew on time might lead to hassles in the form of bike inspection, fines, etc.
United India Insurance supports several types of discounts. These essentially help you reduce your policy premiums by a considerable margin. And more importantly, you can club more than one of these discount mechanisms.
The no-claims bonus or NCB is one of the most recognized discounts for vehicle insurance policies. For every year that you do not make any claims, you earn a certain percentage as a discount. The discount starts at a minimum of 20% and goes up to 50% or five consecutive years. And, if you sell your bike, you can still retain the NCB and use it on the new insurance policy.
The ARAI has an approved list of anti-theft devices that you can install on your bike. These devices will increase the security of your bike and at the same time offer you a discount of 2.5% on your own-damage component.
A deductible is an amount that the insured must pay while claiming their policy. It might seem counter-productive for some, but deductibles can help you in reducing your policy premiums. A higher deductible would translate to lower policy premiums. It is ideal for individuals who are confident that they won’t have to make claims.
Being a member of the Automobile Association of India is another great way to earn some discounts. You not only get to be a part of a larger community of riders but also get discounts on renewing your policy.
As mentioned above, you can either buy United India two-wheeler insurance online or offline. Buying a policy offline refers to the traditional method of reaching out to an insurance advisor or visiting a branch office and buying a policy. And online mode allows policy buyers to buy policies from the comfort of their homes.
To buy United India bike insurance online, you can visit the website of United India and look for Quote and Buy option on the website. An easier alternative is to visit Turtlemint. Turtlemint is a website that allows interested buyers to look for policies before zeroing down on one. Browsing through various options will allow you to pick up a policy that not only suits your budget but also your requirements.
Turtlemint has partnered with United India insurance to sell their products on their website. On visiting Turtlemint’s website you can view, review and compare different policies before buying United India two-wheeler insurance. Here are the steps that you need to follow.
To buy or renew United India two-wheeler insurance, you must furnish the following documents.
To renew your bike insurance policy, you can visit United India Insurance’s website and look for the renew or quick renewal option. You can provide your existing policy number and the website will quickly check if it’s still valid or not. The next steps require you to provide additional details of your bike, personal data and get the quote from the insurer. Once you are satisfied with what you see, you can proceed to renew your policy.
Alternatively, you can visit Turtlemint to renew your United India bike insurance. An added benefit of renewing from Turtlemint is that you can compare among different insurers and opt for the best fit. Registered members have access to an even better experience since their website stores their data for quick renewals.
Should there be an unfortunate accident or incident that requires you to claim your policy, here are the steps that you must follow.
You can also claim your United India two-wheeler insurance from Turtlemint. This is irrespective of whether you hold a policy with them or not. You can raise a claim on their website and their dedicated team will help you with the settlement process. For any claim related queries, you can call Turtlemint at 1800 266 0101 or send an email at email@example.com.
United India insurance takes the following parameters into consideration for calculating the premium of bike insurance.
Usually, NCB is offered to policyholders if they renew their policy on time. However, United India insurance offers a 90 day grace period within which you must renew your policy to benefit from NCB. Failing to renew your policy within this period might lead to NCB cancellation.
In the event of a claim, you will stand to lose NCB or No Claims Bonus on renewing your bike insurance policy. Since you will lose the NCB, your policy premium will get slightly higher.
You must first inform United India insurance about any such fittings to the bike. Post that, you will have to pay an additional premium of 4% of the value of the kit as a policy premium.