Royal Sundaram Bike Insurance
Royal Sundaram Insurance company was the first private insurance company to get licensed by the Insurance Regulatory and Development Authority of India in 2000. Among its various products, Royal Sundaram also offers bike insurance coverage for its customers. These bike insurance policies provide coverage for any loss or damage to the insured bike resulting from natural or man-made disasters, including landslide, earthquake, explosion, fire, burglary, etc.
Types of Bike Insurance Offered by Royal Sundaram
Royal Sundaram offers three types of bike insurance to its customers. They are -
- Third-party insurance - In India, every two-wheeler must have third party insurance, according the Motor Vehicles Act of 1988. Third-party insurance is useful since it covers third-party liabilities such as fatalities, bodily injuries, and property damage in the event of an accident.
- Standalone own-damage insurance - In the event of a traffic accident, theft, vandalism, fire, natural disaster, or man-made disaster, the policyholder would be compensated for the damage to their two-wheeler by a standalone own-damage plan.
- Comprehensive insurance - Under a single premium, the comprehensive insurance will pay for both own-damage expenses and third-party liabilities.
Features of Royal Sundaram Bike Insurance
The various features of Royal Sundaram Bike insurance are mentioned below -
Features | Coverage |
Own damage insurance | Determined by the two-IDV wheeler's |
Damage to property covered by third party insurance | Up to Rs.1 lakh |
Claim settlement assistance | 24-hour helpline able to provide claim assistance |
Personal accident cover | Up to Rs.15 lakh |
Benefits of Royal Sundaram Bike Insurance
The various benefits of Royal Sundaram bike insurance are mentioned below -
- Quick and easy settlement process
- Emergency assistant for 24X7
- Part of a large network of 3,300+ garages
- Unlimited claims for the customers
What is Included in Royal Sundaram Bike Insurance?
The following things are included in a Royal Sundaram Bike insurance plan -
- You will be eligible for a no claim bonus when you sign up with Royal Sundaram Bike insurance
- Claim processing settlement is done in 10 days
- You will need minimal documentation to file claims with Royal Sundaram Bike insurance
- For a term of two or three years, you can purchase or renew insurance for two-wheelers.
- Even if the Third-Party premium increases during the course of the policy period, you won't be required to pay any more premium.
What is Excluded from Royal Sundaram Bike Insurance?
The following things are excluded from Royal Sundaram Bike Insurance plan -
- If a rider is driving a two-wheeler without a valid driver's license, Royal Sundaram two-wheeler insurance does not cover the vehicle.
- Damage resulting from a person operating a vehicle while intoxicated is not covered by insurance.
- If the vehicle is used for cases like reliability trials, speed testing, racing or hire or reward.
- Any damaged caused to tubes/tires
- It excludes coverage for the vehicle's mechanical or electrical failure.
Royal Sundaram Bike Insurance Claim Process
The first step in applying for claim process with Royal Sundaram Bike insurance is to call their helpline at 1860 258 0000. Next, you have to schedule an appointment with the surveyor and bring your car to one of the authorized Royal Sundaram Insurance network garages for repairs for cashless service. Present the surveyor with the necessary paperwork. After the surveyor submits the report, the company confirms liability and processes your claim.
How to Renew Royal Sundaram Bike Insurance Policy
Follow the steps mentioned below to renew Royal Sundaram Bike Insurance policy -
Step 1: On the official website of Royal Sundaram Bike Insurance, select the ‘Insurance’ and then ‘Two-wheeler Insurance.’
Step 2: Then, in the relevant area, select "Insurance company renewal." Fill out all the necessary information as instructed by the screen.
Step 3: Select the optional coverage you want to add to your basic insurance. Some businesses pair "Personal Accident Cover" with third-party bike insurance.
Step 4: The system will then display the applicable renewal premium for you. The type of coverage you select will affect the price of your bike insurance renewal.
Step 5: Proceed to the payment section. You can pay for your coverage with debit card/credit cards or net banking. Many insurance companies have affiliations with various applications and payment platforms. For various payment methods, a variety of rewards and discounts are offered. Use whichever method makes the most sense for you to pay.
Step 6: The system generates a new policy number and a virtual policy document for you for the duration of the renewed policy. A copy of the file can be saved to your device for later use. You will receive a physical copy of the policy document from the company as well.
FAQs on Royal Sundaram Bike Insurance
- How is the cost of my insurance policy calculated?
The cost of your insurance policy is calculated by looking at your policy tenure, insurance declared value (IDV), place of registration, age of the vehicle, and cubic capacity of the vehicle.
- Can I cancel my plan with Royal Sundaram?
Yes, you can cancel your plan with Royal Sundaram anytime you want.
- Does Royal Sundaram provide cashless garage service?
Yes, Royal Sundaram provides cashless garage service to its customers.
- How is the premium of a policy determined on an individual basis?
The premium of a policy is determined through various factors like place of registration, Insured declared value (IDV), policy tenure, age of the vehicle, and cubic capacity of the vehicle.
- Is it necessary to take two-wheeler insurance even if I don’t have a luxury two-wheeler?
No matter if your vehicle is luxurious or not, it is always advisable to have a two-wheeler insurance as no one can guarantee about anything that might happen.
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