Question 1

How to Calculate Two-Wheeler Insurance Premium?

Accepted Answer

When buying a two-wheeler insurance policy online, knowing how much premium to pay for the policy and then comparing it with other policies is one of the most crucial steps in your research. An online two-wheeler insurance calculator makes this task easy and helps you in calculating the premium you will be paying for your bike insurance policy.By using this calculator, you can find a policy that provides the best coverage for your bike.At the same time, you only pay the premium that you can afford and nothing more.How to use a Two- Wheeler Insurance Premium Calculator? First, fill in all the details of your bike such as the variant, make and model.Next, fill in the location of registration and the purchase year If you've filed a claim in the past, then provide the details.Check the Insured Declared Value(IDV), the premium quotes and select the plan you want.Choose between a comprehensive or liability insurance plan.You will then get the final premium amount for your two- wheeler insurance

Question 2

How to Renew Expired Two-Wheeler Insurance Policy Online?

Accepted Answer

It is important that you renew your bike insurance before it expires so that you continue to enjoy the benefits of coverage. Renewing your bike insurance online is easy, follow the below steps:Visit your royal sundaram's insta renew page or click here.You can login through your mobile number and OTP.You need to verify and validate your details. Next, you will have to make the premium payment. After the payment is successful, your policy will be renewed.In an online two- wheeler insurance policy, you do not need any physical verification of your vehicle.The other advantage of renewing your two - wheeler insurance online is quick receipt of the new policy and no requirement of any documentation.If you face problems during the renewal of the policy, you can always get in touch with our customer service.

Question 3

How to choose Best Two-Wheeler Insurance Plan

Accepted Answer

It is important that you consider the below-mentioned factors when you opt to buy suitable two-wheeler insurance for your bike:Know your coverage requirement: It is important to consider which coverage would best suit your needs.Bike insurance is of two types: third - party insurance and comprehensive insurance; so, choose one as per your needs.Research on insurance providers: Look up reputed insurance providers with a high claim settlement ratio and a varied offering of bike insurance plans and add - ons.By complimenting your insurance policy with appropriate add - ons, you can completely protect your vehicle.Compare the premium quotes: Using an online premium calculator, you can check which provider offers insurance coverage that is best suited for your needs.A higher premium does not always mean that the insurance policy is the best one; it quite depends on how much protection your vehicle requires.Read all the offer documents: Once you choose your two - wheeler insurance policy carefully, be sure to read the offer documents before making the purchase.Consider the inclusions before finalizing the insurance policy.

Question 4

What is Long Term Two-Wheeler Comprehensive Insurance?

Accepted Answer

It is a COMPREHENSIVE insurance policy to cover your vehicle against potential risks of theft, accidental damage to your vehicle, liability arising due to accidents caused to third party for a period of two/three years through a single policy document.

Question 5

Why do I need a Two wheeler Insurance Policy?

Accepted Answer

Your Two wheeler is your prized possession! Availing a comprehensive insurance policy is prudent, which not only covers your Two wheeler, but also your family members pillion riders in your two wheeler.A Two wheeler Insurance Policy is mandatory under the Motor Vehicle Act.Every two wheeler owner must have an insurance which covers third party injury, death or property damage.With Two wheeler Insurance, you can cover -Two wheeler against theft, accidents, disasters such as floods, earthquake, fire, etc.Family members(including self) with Personal Accident Policy Pillion riders Damage to someone else 's vehicle or property Injury / Death of another person due to accident caused

Question 6

What are the factors that determine the premium rating for Two Wheelers?

Accepted Answer

Insured's Declared Value (IDV) Cubic Capacity of the vehicle Geographical Zones Age of the two wheeler he geographical zones are -Zone A - Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai, New Delhi and Pune.Zone B - Rest of India

Question 7

Can a customer cancel his policy during the tenure of his policy?

Accepted Answer

Yes, the policy can be cancelled by the customer with 7 days notice to the Insurer and the company will cancel the policy on Short period basis and refund of premium if any, will be made. The refund will be subject to no claim under the policy and retention of minimum premium of ₹100/-. But cancellation would be made only after ensuring that the vehicle is insured elsewhere at least for Liability Only policy.

Question 8

What are the factors that determine the premium rating for long term two wheelers?

Accepted Answer

Factors that affect your 2 wheeler insurance premium are:Insured Declared Value or IDV(present market value of the vehicle) Cubic Capacity(CC) of the vehicle Place of registration(Zone A / Zone B)  Age of the vehicle Policy Tenure 2 / 3 years

Question 9

What will be the depreciation logic for arriving at the IDV for the vehicle?

Accepted Answer

IDV for each year (1st year, 2nd Year and 3rd Year) will be computed as per depreciation chart in Motor Tariff. The same will be reflected in the policy wordings. An illustration is given below Example: A Two wheeler invoiced at and purchased on 01.06.2013 for ₹40,000 shall be covered for following IDVs for the Long Term Motor Two Wheeler Package Policy during 01 06 2016 to 31 05 2018:

Question 10

If there is TP premium revision during currency of the policy, whether additional premium will be collected from the customer?

Accepted Answer

No additional premium will be collected from the customer if there is TP premium revision during currency of the policy.

Question 11

What is the minimum premium to be charged for long term two wheeler policy?

Accepted Answer

Minimum premium is ₹200 for a 2 year policy and ₹300 for a 3 Year policy

Question 12

Can we cancel an existing annual policy and take a long term policy covering the same risk?

Accepted Answer

Customer has an option to cancel the existing annual policy and take a fresh long term policy by paying necessary premium subject to submission of proposal form applicable for Long term 2W package policy. The cancellation of existing policy will be on pro rata basis and subject to no claim.

Question 13

If initially customer opted for two years policy, can he/she extend the same for the third year?

Accepted Answer

No customer cannot extend his 2 year policy to 3 year policy. He can cancel his 2 year policy and take a new 3 year policy.

Question 14

How NCB will be computed at the time of renewal?

Accepted Answer

The NCB will be offered as per your eligibility on renewal.Three Year Policy:For a New vehicle, the NCB will normally begin at 0 % and will remain so for the duration of the policy.If there is no accident during the currency of the policy, we will offer 35 % NCB on renewal of the policy for the next slab of 3 years.You will be given a choice to opt for either a 2 year or 3 year policy at the time of renewal.If one claim is reported during any of the three years, the NCB on next renewal will drop by one slab to 25 %.If 2 claims are reported during the current term of the policy, You will not be eligible for any NCB on renewal.Two Year Policy:For a New vehicle, the NCB will begin at 0 % and will remain so for the duration of the policy.If there is no accident during the currency of the policy, we will offer 25 % NCB on renewal of the policy for the next slab of 2 years.You will be given a choice to opt for either a 2 year or 3 year policy at the time of renewal.If one claim is reported during any of the two years, the NCB on next renewal will drop by one slab to 20 %.If 2 claims are reported during the current term of the policy, You will not be eligible for any NCB on renewal.The same logic will follow for old vehicles for various slabs of eligible NCB at the time of taking the policy.If You are eligible for NCB, You will be offered that NCB for the period of three years.On renewal, the next slab of NCB(as provided in the Policy Wordings) will be offered.

Question 15

Will we issue three separate policies or only one policy for the entire policy period of two years or three years?

Accepted Answer

Only one policy will be issued for the entire policy period.

Question 16

Is name transfer endorsement permitted? If yes, whether transferee will continue to get the long term benefits?

Accepted Answer

Name transfer endorsement is permitted in the policy as per tariff guidelines subject to NCB recovery for remaining period if applicable. Transferee will continue to get the long term benefits.

Question 17

What are the endorsements allowed during the currency of the policy?

Accepted Answer

All endorsements as per policy terms and conditions are allowed.

Question 18

If the address of the insured is changed during currency of the policy and it results in change of Zone, whether additional premium (if applicable) will be collected?

Accepted Answer

If there is a change of Zone (from B to A) due to change in registered address additional premium for the balance period will be collected from the insured.

Question 19

If there are two policies issued for the same vehicle, with same inception date, one on annual basis and another one on long term basis, whether long term policy be cancelled and amount refunded? If so on what conditions?

Accepted Answer

We will cancel any one (based on customer request) policy with full refund if both the policies are issued by us covering the same risk.

Question 20

Why should one have a comprehensive Two wheeler insurance policy, when the law mandates insurance only for 3rd party injury, death, property loss?

Accepted Answer

Accidents can occur at any time, any place, even if it is not your fault. But with Insurance you can recover from it financially. With comprehensive Two wheeler insurance, the Insurer will protect you against any loss or damage to the two wheeler and its accessories during following unforeseen events:Fire, explosion, self ignition or lightning Burglary, housebreaking or theft Riot or strike Earthquake(fire and shock damage) Flood typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost Accidental external means Malicious act Terrorist activity Whilst in transit by road, rail, inland - waterway, lift, elevator or air

Question 21

What are the discounts that can be allowed under Two wheeler policies? What are the discounts that can be allowed under Two wheeler policies?

Accepted Answer

The discounts that can be allowed under the Two wheeler Package Insurance policy are:Voluntary Deductible discount No Claim Bonus Automobile Association Discount

Question 22

What is third party?

Accepted Answer

Third party refers to people who are not your family members or property you don't own.

Question 23

What is 'compulsory deduction/deductible' under Two wheeler Insurance?

Accepted Answer

During a Claim, certain minimum amount is deducted from the Insured. The amount deductible is ₹100/- for all two wheeler Own damage claims

Question 24

What is Insured Declared Value (IDV)? And how is it calculated?

Accepted Answer

IDV means Insured's Declared Value. It is the value of the vehicle, which is arrived at by adjusting the current manufacturer's listed selling price of the vehicle with depreciation percentage as prescribed in the Tariff. Manufacture's listed Selling Price will include Local Duties/Taxes, excluding Registration and Insurance. For the vehicles that are obsolete or aged over 5 years, the IDV will be the value agreed between the Insurer and the Insured. The value of the obsolete vehicles and the vehicles aged over 5 years are arrived by our Assessment Team with the help of various resources like IMAs, Panel of Surveyors, Car Dealers, Second Hand Car dealers, etc. Depreciation slabs for arriving at IDV are below:AGE OF THE VEHICLE IDV % OF DEPRECIATION FOR FIXING Not exceeding 6 months	5 % Exceeding 6 Months but not exceeding 1 Year	15 % Exceeding 1 Year but not exceeding 2 Years	20 % Exceeding 2 Years but not exceeding 3 Years	30 % Exceeding 3 Years but not exceeding 4 Years	40 % Exceeding 4 Years but not exceeding 5 Years	50 %

Question 25

When is an Endorsement is required?

Accepted Answer

An endorsement is a written evidence of an agreed change to a policy. It is a document that incorporates changes in the terms of the policy. If there are any alterations to be done in the policy the customer needs to approach the Insurance Company to effect the change in the policy. This is done by way of an endorsement.An endorsement may be issued at the time of issuing the policy to provide additional benefits and cover(e.g., legal liability to driver) or to impose restrictions(e.g., accidental damage deductible).The wordings of those endorsements are provided in the tariff.An endorsement may also be issued subsequently to record changes such as change of address, change of name, change of vehicle etc.

Question 26

What are electrical/electronic and non-electrical/non electronic accessories in a two wheeler?

Accepted Answer

Electrical/electronic Non Electric items which are not supplied by the vehicle manufacturer along with the vehicle are called electrical/electronic accessories. E.g., Interior fittings, alloy wheels, protection bumpers, saree guard that do not come along with the vehicle.

Question 27

What is No claim Bonus? Under what circumstances it given?

Accepted Answer

No Claim Bonus is a reward for filing no claim in the previous year. It can be accumulated over a period of insurance. NCB starts with 20% and goes up to 50% NCB becomes nil in case of a Claim NCB follows the fortunes of the customer and not the vehicle The validity period to reclaim NCB is 90 days from the date of Expiry of the policy NCB can be utilized within 3 years(in case if the existing vehicle is sold and a new car is purchased) NCB recovery to be done in case of a Name Transfer NCB gets transferred to the legal heir in case of Death of customer NCB can be transferred to a new vehicle in case of Substitution of vehicle of the same class NCB earned abroad can be given in India

Question 28

What is Break in insurance? What should I do in case of Break in insurance?

Accepted Answer

Break-in-insurance is when the Policy lapses due to non-renewal of the Policy on time. As per the law, an owner should cover his/her two wheeler with at least third party insurance at all times.If you have a break in your two wheeler insurance please contact nearest branch for further details

Question 29

What to do in case of Theft claim?

Accepted Answer

If your two wheeler has been stolen, the first thing to do will be to file a police report.Notify your insurance company as soon as you file the police report, this will help in case the thief has caused some damage to others with your two wheeler.Also please note, your insurance company will not process your claim if you have not filed a report with the police.When you notify your insurance company, provide them all the details of loan / lease of your two wheeler along with the FIR.Provide them with a description of your two wheeler, mileage, service record if any.Also submit the list of personal items stolen along with the two wheeler It is also important to inform your RTO of the theft.Inform your financier immediately of the theft and ask them to discuss the case directly with your insurer this might expedite the claim process.In case the police recover the vehicle, inform your insurer about the same.If the vehicle is recovered, the Insurance company is liable to pay compensation on damages caused to the vehicle as per the terms and conditions of your policy and for stolen items if any, which are covered under your policy.If the vehicle is not recovered, the police have to provide a Non - Traceable Certificate(NTC) and the court will have to give a final report under sec 173 Crpc.If you have taken a vehicle loan to purchase your two wheeler, the insurer will settle the amount directly to the financier.The settlement amount is on the Insured Declared Value(IDV).This might however differ based on usage and market value.

Question 30

What to do in case of an Own Damage Claim?

Accepted Answer

In the event of an accident-Please arrange for medical attention if anyone suffers injuries. Take down particulars of other vehicles/people involved, if any. Please do not accept any negligence for the accident nor commit to anybody regarding compensation, if any.In the event of injury, death, third party property damage, burglary, theft, house - breaking and damage due to malicious act, riot, strike and terrorist activity, immediate information to the police station concerned is essential.If the accident is severe in nature, and the vehicle cannot be moved, ensure proper protection of the vehicle at the spot.Please do not attempt either to start the engine or drive the vehicle after the accident and before required repairs.Arrange to shift the vehicle to the nearest garage of your choice and ask them to prepare a detailed estimate(labor charges with list of parts along with its prices).Please do not dismantle or alter the accident condition of the vehicle or repair till the vehicle is surveyed / assessed by a surveyor.Also to ensure that no parts or accessories are missing at any point of time.Inform us about any accident or loss immediately.Please submit the duly / completely filled -in claim form to us.Please contact us for guidance on the cashless facility to avail direct payment facility by us to such a repairer.Documentation to be submitted for verification & return (along with a set of photo copies).Original vehicle registration book(including the fitness certification, if it is a separate document).Original driving license.Documentation for submission.Copy of the police complaint(FIR) Estimate of repairs.We may seek additional document(s) or ask for clarification(s) for processing your claim and that depends upon the claim.Please arrange to submit the same.All damages / losses will be surveyed and assessed by a surveyor / assessor and admissibility of the claim and mode of settlement is decided only after the process.Please note: Ensure that you give us the correct & complete contact details(address / telephone no's / mail IDs in the claim form. If you receive any notice or summon with regard to the accident (other than criminal proceedings, if any), contact us with the petition copy.

Two Wheeler Insurance, Royal Sundaram

Protecting riders,
For worry free journeys

Click. Tick. Done

Benefits of Two-Wheeler Insurance from Royal Sundaram

Don't worry. Enjoy your ride. We have you covered.

Key Benefits of two wheeler insurance

Why choose Royal Sundaram?

Quick Painless Claims

Trusted by 5 Million Indians

Affordable Premium

Reliable and fail-safe, like well-oiled brakes.

We secure you like a helmet

Backed by our powerful network and technology.

We Stand by you when you need it most.

We bring you clarity, just like a good visor in a storm.