About National Insurance Company
NIC (National Insurance Company Ltd.) is one of India’s oldest insurance companies. Incorporated in Kolkata in 1906, the company was merged with 11 Indian companies and 21 foreign companies after nationalisation. Today, it offers a variety of general insurance products including two wheeler insurance.
National Insurance Two-Wheeler Insurance Policy
The National Insurance two-wheeler insurance policy protects bike and scooter owners against accidental damages and liabilities due to damages or losses caused to a third party.
|National Insurance Two-Wheeler Insurance – An Overview|
|Add-On Covers||Personal Accident Cover|
|Incurred Claim Ratio||121.67%|
|Cashless Network Garages||Available|
|Third-Party Cover||Coverage is provided for any liability after an accident involving your vehicle. This does not cover any damage to your vehicle.|
|Bonus / Discounts||No Claims Bonus|
|Personal Accident Coverage||Personal Accident Coverage is offered for those|
|Policy Term||1 year to 3 years|
Benefits of National Insurance Two-Wheeler Insurance
It is a rule put in place by the government to have a motor insurance policy if you are planning to ride a motor vehicle. You can either opt for a liability-only insurance policy or a comprehensive insurance policy. National Two Wheeler Insurance offers both of these policies. In the video below, take a look at some of the advantages of buying a two wheeler insurance policy and make a choice based on your needs and how much you want to be protected when riding your vehicle.
- Long-term motor insurance plans available
- Package policy that covers own damage as well as third-party damages
- The policy can be purchased or renewed online using debit card, credit card, or net banking
- Insurance policy for vehicles used for social, personal, and professional purpose
- Additional two-wheeler insurance covers available
- No Claim Bonus
- Round the clock on-call and online customer support for convenience
- Minimum documentation
National Insurance Liability Only Two-Wheeler Insurance Policy
Third-party liability motor insurance policy is the basic insurance policy for your vehicle as mandated under the Motor Vehicles Act, 1988. It covers the insured against legal and financial liabilities arising out of damages or loss caused to a third person or their properties. As per the new policy, all two-wheelers must have a third-party liability cover for a period of 5 years.
Coverage Under National Insurance Liability Only Policy
- Injury or death caused to a third person.
- Damage caused to a third-party property (TPPD up to Rs.7.5 lakh)
- National Insurance Two-Wheeler Package Insurance Policy
- A comprehensive motor insurance policy covers the vehicle in a variety of incidents that may cause loss or damage to the vehicle. It also has an inbuilt cover for third-party liabilities as well
Own Damage Cover
The own damage part of the National Insurance bike insurance policy covers the vehicle for accidental damages, loss, or theft. The following are the major scenarios under own damage:
- Damage or loss caused to the vehicle due to an accident.
- Theft of the insured two-wheeler.
- Loss or damage to the vehicle due to natural disasters.
- Loss or damage caused to the vehicle due to man-made calamities such as riots, strikes, etc.
The National Insurance motor insurance policy covers third-party damages and losses as default. This includes the following scenarios:
- Financial liabilities resulting from injuries or death caused to a third person in an accident involving your vehicle.
- Personal accident cover for the driver/owner of the vehicle.
Exclusions Under National Insurance Two-Wheeler Insurance Policy
The following are some of the things not covered under the National Insurance two-wheeler insurance policy:
- Any claims arising out of a contract.
- Normal wear and tear caused to the vehicle.
- Damage or loss caused to the vehicle by a person who is driving the vehicle on the road after consuming alcohol or drugs.
- Loss or damage caused to the two-wheeler due to war, mutiny, and nuclear risk.
- Claims arising out of consequential loss.
- Depreciation in the value of the vehicle.
- Damage to consumable items like tyre is limited to 50% only if the vehicle is damaged at the same time.
Factors Affecting Two-Wheeler Insurance Premium
The following are some of the factors that affect the premium that you need to pay for your two-wheeler insurance policy:
- Insured Declared Value of The Vehicle: The IDV of a vehicle is determined based on the manufacturer’s listed selling price of the vehicle less the depreciation. The IDV is the maximum sum that an insurance company is liable to pay in case of a total loss claim. The higher the IDV of the vehicle, the higher is the premium.
- Vehicle Age: The age of the vehicle is an important determinant factor while deciding the premium. Generally, the premium for new vehicles is more than that for the old vehicles. There are certain add-on covers that are only applicable for new vehicles. This further adds to the cost of insurance.
- Capacity of The Engine: The premium for vehicles with high engine cubic capacity is higher than the basic commuter vehicles having low engine displacement.
- No Claim Bonus: No Claim Bonus is a discount that the insurance companies offer to the policyholders if there are no claims made on the policy during the preceding year. The NCB can range between 20% and 50% based on the number of claim-free years.
- Location Where The Vehicle Is Registered: The location where the vehicle is registered also plays an important factor in determining the premium.
How to Purchase National Insurance Bike Insurance Policy
If you wish to buy the motor insurance policy online, here are the steps to follow:
- Contact the nearest National Insurance branch office directly or through an agent.
- Collect and fill up the proposal form. Read the terms of the policy thoroughly.
- Submit the proposal form at the nearest National Insurance branch office. The agent service can be directly availed from any of the branch offices.
- A surveyor may be appointed by the insurer to evaluate the condition of your vehicle in certain cases.
- An estimate of premium will be given to you.
- The policy document will be issued after payment is made. The same may be handed over immediately or sent to you via post.
How to File An Insurance Claim with National Insurance Company
The following steps are involved in lodging and settlement of insurance claims:
- In case of any loss or damage to the vehicle, intimate the insurer immediately.
- In case of damage or loss caused to the vehicle due to fire, theft, burglary, or third-party damage, file an FIR at the nearest police station.
- Submit the duly filled claim form at the nearest National Insurance branch office.
- Submit other documents as asked for by the insurer. These documents may include pathological test reports, medical bills, Discharge Certificates, Receipts from Doctors/ Surgeon and others.
- The insurance company may appoint a surveyor to evaluate the damages and to gather relevant information about the incident.
- The claim is settled after verification of documents.
National Insurance Toll-Free Telephone Number
If you need assistance with respect to the motor insurance policy offered by National Insurance Company, you may call on the below-mentioned toll-free number.
Toll-Free Telephone Number: 18002007710
National Insurance Branch Offices In Important Indian Cities:
National Insurance Branch Offices in New Delhi
|Scope Minar Laxmi Nagar District Centre||Second Floor, Core III, Scope Minar Laxmi Nagar District Centre-110092 Email: firstname.lastname@example.org Fax: 23613658|
|Connaught Circus||Jeevan Bharati Building Tower II, Fourth Level, 124, Connaught Circus, New Delhi -110001 Telephone: 011-23325503 Email: email@example.com Fax: 23325499|
|Bhavbhuti Marg||03-A 8th Floor Tower konnectus Building, Opp. New Delhi Railway Station, Bhavbhuti Marg-110002 Telephone: 011-23215597 Email: firstname.lastname@example.org|
National Insurance Two Wheeler Insurance Customer Care in Ahmedabad
|Ahmedabad||Hasubhai Chambers, Near Town Hall, Ellis Bridge, Ahmedabad, Gujarat -380006 Telephone: 079-26577301 Email : email@example.com Fax: 26575673|
National Insurance Two Wheeler Insurance Customer Care in Tilak Road
|Baroda||2nd Floor, Dr. Indumati Patel Trust Building, Opp. Aradhana Cinema, Tilak Road-390001 Telephone: 0265-2424101 Email: firstname.lastname@example.org|
National Insurance Two Wheeler Insurance Customer Care in Chandigarh
|Chandigarh||SCO 332-334, Sector 34 A-160022 Telephone : 0172-2602918 Email : email@example.com|
National Insurance Two Wheeler Insurance Customer Care in Bengaluru
|Bengaluru||2nd floor, Shubharam Complex, 144, M G Road-560001 Telephone : 080-25584081 Email : firstname.lastname@example.org|
National Insurance Two Wheeler Insurance Customer Care in Kochi
|Kochi||First and Second Floor, Omana Buildings, Jews Street, Padma Junction, Kochi, Dist: Ernakulam, Kerala -682035|
National Insurance Two Wheeler Insurance Customer Care in Mumbai
|Churchgate||Royal Insurance Building, 12, J Tata Road, Churchgate, Mumbai-400020 Telephone : - Email : email@example.com|
|Fort||Address : Fifth Floor, Sterling Cinema Building, 65, Murzban Street, Fort, Mumbai -400001 Telephone : 022-22017109 Email : firstname.lastname@example.org|
National Insurance Two Wheeler Insurance Customer Care in Pune
|Pune||Address : Fourth Floor, Bhausaheb Shirole Bhavan, Pune Municipal Transport Building, Deccan Gymkhana, Pune, Maharashtra -411004 Telephone : 020-25520402 Email : email@example.com|
National Insurance Two Wheeler Insurance Customer Care in Jaipur
|Jaipur||Jeevan Nidhi, LIC Building, Bhawani Singh Road, Jaipur, Rajasthan -302005 Telephone : 0141-2745603 Email : firstname.lastname@example.org|
National Insurance Two Wheeler Insurance Customer Care in Jodhpur
|Jodhpur||Third and Fourth Floor, Sun Tower, Main Pal Road-342008 Telephone: 0291-2785197 Email : email@example.com|
National Insurance Two Wheeler Insurance Customer Care in Chennai
|Chennai||Second Floor, Hamid Buildings Annexe, 190, Anna Salai, Chennai-600006 Telephone: 044-28525331 Email : firstname.lastname@example.org|
National Insurance Two Wheeler Insurance Customer Care in Coimbatore
|Coimbatore||Second Floor, C S X Towers, Stock Exchange Building, 684, Trichy Road, Coimbatore, Tamil Nadu -641005 Telephone : 0422-2321350 Email : email@example.com Fax : -04222315830|
National Insurance Two Wheeler Insurance Customer Care in Madurai
|Madurai||Address : Commercial plot No:3, 80 Feet Road, Vaigai Colony, Anna Nagar, Madurai-625020 Telephone : - Email : firstname.lastname@example.org|
National Insurance Two Wheeler Insurance Customer Care in Hyderabad
|Hyderabad||First Floor, Jubilee Building, Nampally Station Road, Hyderabad, Andhra Pradesh -500001 Telephone : - Email : email@example.com Fax : -23233991|
National Insurance Two Wheeler Insurance Customer Care in Kolkata
|Kolkata||Fifth Floor, National Insurance Building, 8, India Exchange Place, Kolkata -700001 Telephone : 033-22421980 Email: firstname.lastname@example.org Fax: 22428772|
|Kolkata||Sixth Floor, National Insurance Building,8, India Exchange Place, Kolkata -700001 Telephone : 033-22437943 Email : email@example.com Fax : -22427279|
National Insurance Frequently Asked Queries
Can I purchase National Insurance bike insurance policy online?
Yes, you can purchase or renew a bike insurance policy online through the official website of National Insurance.
Is it mandatory to get a two-wheeler insured?
Yes, the Motor Vehicles Act makes it mandatory for each motorised vehicle in India to have a motor insurance policy. A third-party liability motor insurance policy is the basic form of motor insurance enforced under the law. Violation of the rule amounts to an offence.
Can I renew my existing insurance policy with National Insurance bike insurance policy?
A two-wheeler insurance policy from any other insurer can be renewed with National Insurance policy and the No Claim Bonus can also be retained (if any).
How can I make a premium payment?
You can choose between two modes of premium payment:
- Online Payment
- Cash payment at the branch
In case you choose the online payment mode, you can pay via Credit Card, Net banking or Debit Card
How can I check my policy status?
Simply log into the Portal, enter your valid credentials and get updates on your policy status. You can also call on the toll-free number to get the status of your policy instantly.
Is it possible to cancel a National two wheeler insurance?
Yes. In fact it is a simple process to cancel an insurance that you have purchased. Simply walk into any of the branches, and provide your policy documents with the duly filled surrender form. Once accepted at the counter, the policy will be cancelled. Further, the refunds will be credited in your bank account.
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