Reliance bike Insurance

Bike insurance provides financial protection against the loss of your vehicle and third-party damages. Reliance General Insurance is one of the best two-wheeler insurance companies. The company provides three types of bike insurance plans. Each one has its own specific features and benefits. Keep reading to find out the details!

Key Features of Reliance Bike Insurance

Why Should You Buy Reliance Bike Insurance Plan?

Though there are many bike insurance companies in India, Reliance Motor Insurance Company is top-notch among customers. You must be wondering, "Why?” Some of the reasons to buy a Reliance two-wheeler insurance plan are highlighted below:

• Attractive Discounts: Whether you are a new customer or an existing one, Reliance General Insurance provides exciting discounts for everyone. You can avail of up to 20-80% discount on a premium paid against the policy.

• Add-On Benefits: The policyholders of Reliance bike insurance have the flexibility to customize their plan. The company provides various add-ons like third-party liability cover, medical emergency cover, return-to-invoice benefits, and many others. You can buy any add-on with your base two-wheeler insurance plan.

• No Pre-Inspection: Reliance General Insurance values the time and needs of its policyholders. Therefore, the company provides a seamless and hassle-free claim settlement process. You can simply claim your bike insurance plan online without undergoing any bike inspection process.

• Long-Term Protection: Understanding the busy schedules of its customers, Reliance General provides long-term bike insurance plans for its policyholders. You can buy a plan for 36 months and keep your bike protected against any mishap that may arise in the future.

• No Paperwork: Unlike in the old-school days, individuals can now easily buy Reliance bike insurance in a few easy steps. All you need is a stable internet connection and a smartphone to protect your bike against loss or damage.

Reliance Bike Insurance Premium Calculation

The bike insurance premium calculator is an online tool that can help you determine an estimated premium amount you may have to pay against your insurance plan. Here’s the process for using a two-wheeler insurance premium calculator online:

• Provide the details of your bike, including the manufacturing number, model, registration number, and others.
• Select the type of bike insurance plan you want to buy.
• Fill in your personal information, such as age, gender, and more. Select the add-ons that you want to buy with your base plan.
• Click on the “Calculate Premium” tab.
• Reliance two-wheeler insurance plan premiums will be displayed on the screen.

Types of Reliance Bike Insurance

Reliance General provides three types of two-wheeler insurance plans. Let’s discuss the features and benefits of each type in detail.

• Third-Party Bike Insurance: This is the most basic type of two-wheeler insurance. The plan provides protection against third-party liabilities. However, you cannot claim the policy for a loss or damage to your vehicle. According to the Motor Vehicles Act, it is mandatory for all two-wheelers to buy third-party bike insurance.

• Comprehensive Bike Insurance: A comprehensive two-wheeler insurance plan covers both personal and third-party liabilities. The plan covers loss or damage that happens due to theft, fire, accidents, or natural calamities. However, the policyholders may have to pay an extra premium for their comprehensive insurance plan.

• Own-Damage Bike Insurance: The plan only provides coverage for loss or damage that happens to your own bike. Since it does not cover third-party liability, the premium is comparatively lower in comparison to comprehensive bike insurance.

Add-on Benefits Available Under Reliance Bike Insurance

Riders or add-ons are additional benefits that policyholders can buy with their base two-wheeler insurance plan. Reliance Bike Insurance Company provides various add-ons to provide comprehensive coverage to its policyholders. Some of them are highlighted below:

• Consumable Expenses: The expenses that are made for the maintenance of your vehicle are known as consumable expenses. This includes engine oil, coolant, chain lube, brake fluid, and others. With this add-on benefit, you can reimburse the cost of consumable expenses up to a specific limit.

• Third-Party Property Damage Cover: This add-on cover provides financial protection against any loss or damage that happens to the third party. The coverage limit in this add-on is much higher in comparison to the standard limit of third-party liability insurance plans.

• Personal Accident Cover: Under this type of add-on, Reliance Bike Insurance will provide protection in the event of accidental death or disability of the policyholder. This add-on will financially help your loved ones in case of severe or fatal injuries.

• Return-to-Invoice Cover: Reliance two-wheeler insurance plan that you buy with a return-to-invoice add-on benefit will help you get the invoice cost of your voice in case your bike is stolen or severely damaged.

• Depreciation Allowance: When filing a claim for your bike insurance policy, the policyholders can also file a claim for the repair or replacement vehicle’s parts with depreciation allowance add-on cover.

• Emergency Medical Expenses: A bike insurance company will reimburse the emergency medical expenses incurred due to accidental injuries that happened to you and your pillion rider.

Factors That Affect Bike Insurance Premium

A premium is an amount that policyholders pay to the insurer in exchange for insurance protection. Numerous factors help determine a bike insurance premium. Some of these factors are listed below:

• Type of Plan: Bike insurance policy type plays an important role in determining a premium. For instance, the policyholders of a comprehensive two-wheeler insurance policy may have to pay an extra premium in comparison to the ones who bought a third-party two-wheeler insurance plan.

• Model of Bike: The type of bike that you own also impacts the premium for your bike insurance plan. An individual who owns a sport bike may have to pay a higher premium as compared to a standard motorcycle owner.

• Driver’s Experience: An individual who has begun riding will have to pay a higher premium. However, a person who is middle-aged and has relevant riding experience may have to pay a low premium.

• Add-on Covers: Policyholders who buy add-ons with their base bike insurance plan will have to pay a higher premium. Add-ons are additional optional benefits that policyholders can buy with their base two-wheeler insurance plan.

• Modifications on the Bike: Many individuals install expensive accessories and parts to their vehicles for better performance and looks. Any modifications made to your bike will be considered an important factor in the premium calculation.

Tips to Choose the Right Bike Insurance Plan

It is advisable to compare different bike insurance plans at the time of purchase. Additionally, here are some tips that you can follow to choose the best plan:

• Check Claim Settlement Ratio: It is one of the most important factors that you should consider when purchasing a bike insurance plan. The higher claim settlement ratio represents that the company has higher credibility.

• Compare Plans: When choosing the right bike insurance plan, it is a must that you compare different plans on the basis of premium, sum assured, add-ons, and more. You can visit the official website of InsuranceDekho to compare and buy the most suitable two-wheeler insurance plan.

• Cashless Garages: Another important factor to choose the right plan is the number of cashless garages associated with a bike insurance company. Reliance General Insurance has over 8500+ cashless garages, making it one of the best options to buy an insurance plan.

Inclusions and Exclusions in Reliance Bike Insurance

Following are the inclusions and exclusions in the Reliance two-wheeler insurance policy:

Inclusions

• Any damage that happens due to accidents
• Loss incurred due to burglary or theft
• Natural calamities such as cyclones, floods, earthquakes, and more
• Damage that occurs due to fire or explosion of a bike
• Personal accident coverage depends on the type of bike insurance you are covered
• Third-party liabilities are covered

Exclusions

• General wear and tear of the bike
• Mechanical or electrical breakdown
• Loss or damage that happens due to drunk driving
• Driving without a valid license

Process To Buy Reliance Bike Insurance with InsuranceDekho

Reliance General Insurance provides a quick and easy process to buy bike insurance. Here’s a step-by-step process to buy two-wheeler insurance online:

• Visit the official website of InsuranceDekho.
• Fill in your details, such as bike manufacturing number, model name, registration number, email address, and others.
• Opt for add-on coverage that you want to include in your plan.
• Select the policy tenure and pay a premium online.
• Once the above process is completed, a soft copy of your Reliance bike insurance will be sent to your registered e-mail address.

Why Purchase Reliance General Bike Insurance Online?

Bike insurance ensures that you are financially protected in case any loss or damage happens to your own bike or a third-party vehicle. Besides this, it offers many other benefits to policyholders if bought online. Some of them are as follows:

• Many bike insurance companies offer attractive discounts on purchasing two-wheeler insurance online. So, you can save on a premium for your insurance policy by purchasing it online.
• Purchasing bike insurance online enables you to compare different plans. You can use InsuranceDekho to analyze the features and benefits of different policies. Additionally, you can calculate the premium for your chosen plan using a bike insurance premium calculator.
• Policyholders can purchase bike insurance online quickly and easily. All you need to do is visit the official website of InsuranceDekho and provide some information to buy a two-wheeler insurance plan with ease.

Process To Renew Reliance Bike Insurance

The policyholders of Reliance bike insurance must renew their policy before its expiration date. Here’s a process that you can follow to renew your plan:

• Visit the official website of Reliance General Insurance Company.
• Click on the “Renew Policy” button.
• Fill in your policy details and hit the “Proceed to Renew” tab.
• Choose the policy tenure and pay a premium online.
• Once the payment process is completed, a soft copy of the two-wheeler insurance plan will be sent to your registered email id.

Process To Claim Reliance Bike Insurance

There are two ways in which you can get your bike insurance claim settled, either in a cashless manner or by getting it reimbursed. Here are the steps to raise cashless claims:

• Inform the police and obtain a First Investigation Report (FIR) immediately after the accident or theft of your two-wheeler.
• Contact the claim support team of Reliance General Insurance and inform them about the loss.
• Fill out the claim form and submit all the required documents.
• In case of an accident, locate and visit the nearest network garage to avail of a cashless repair facility. However, in case of theft, submit the FIR copy to a bike insurance company.
• The company will settle your claim request for Reliance bike insurance if satisfied with the information you provided.

Documents Required to Claim Reliance Bike Insurance

• Registration certificate
• Driving license
• Previous year’s two-wheeler insurance policy document
• FIR copy
• Estimate from the garage
• Discharge vouchers and hospital bills in case of third-party claims
• Repair bills
• No claim bonus declaration
• ID proof
• Address proof