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National Two Wheeler/Bike Insurance
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National Insurance Company Limited is the oldest general insurance company in India. The company was incorporated on 5th December 1906 with its head office in Kolkata, West Bengal. In the year 2002, National Insurance Company was delinked from General Insurance Corporation, its holding company and was formed as an independent Insurance company.
National Insurance Company Limited offers a range of insurance solutions with around 300 insurance products which include rural insurance, motor vehicle insurance, personal accident insurance, health Insurance, shopkeepers insurance, householders insurance and more. National Insurance has a foreign office in Nepal and over 1730 offices all over the country with 13000 skilled employees and over 50000 insurance agents. Motor insurance incurred claim ratio of National Insurance Company was 127.50% for the financial year 2018-19.
Types of National Two-wheeler Insurance Policy
National Insurance provides various kinds of two-wheeler insurance policies, from complete comprehensive cover to standalone own damage to third-party insurance policies. Let us take a look at the types of insurance policies offered by National two-wheeler insurance:
1. Third-party liability only insurance policy-
Third-party liability in Bike insurance is the basic type of two-wheeler insurance policy. It covers any legal liability claim lodged by a third party person or property arising out of an accident in which the insured bike is at fault. Third-party liability insurance is mandatory at the time of purchasing a new vehicle. Without a third-party liability, you cannot play your vehicle on the road.
There are two basic types of third-party liability-only policies offered by National Insurance Company. They are as follows:
- Annual third-party liability-only policy-
Annual liability only policy covers third-party liability for a tenure of one year and can be renewed every year.
- The long term third party liability only policy-
Long term liability-only policy provides coverage against damages to the third-party for a period of 2 or 3 years.
2. Comprehensive insurance policy-
Two-wheeler comprehensive policy provides coverage against loss, theft and damage caused to your two-wheeler. It also covers liabilities arising against third-parties due to the bike. The comprehensive insurance policy provides all-round protection to you and your vehicle.
National General Insurance offers two types of comprehensive two-wheeler policy.
- Annual Package Policy-
The company offers you comprehensive policy for a tenure of one year, which means you need to renew it annually.
- Long Term Package Policy-
The comprehensive policy can be offered to you for a tenure of 2 or 3 years. Hence no hassle of renewing your policy every year.
3. Bundled Plan-
Bundled plan provides coverage against own damages for one year and third-party liability for 5 years for new vehicles.
4. Standalone Own Damage-
This type of two-wheeler insurance policy offers own damage coverage to your vehicle. Third-party liabilities are not covered under this plan. However, you can only buy this policy, if you already have third-party liability cover.
Note: According to the latest guidelines issued by Insurance Regulatory and Development Authority of India, it is mandatory to buy a minimum of 5 years third-party liability insurance plan at the time of purchasing a new vehicle on or after 1st September 2018 . You can buy by one-year own damage policy with 5 years third party liability under bundled two-wheeler plans.
Benefits of National Two-wheeler Insurance
There are various benefits of buying a National two-wheeler insurance policy. Some of them are as follows-
- Instant policy issuance-
You can buy a two-wheeler insurance policy instantly from the company’s website. Just visit the website of the company, enter the relevant details, submit the documents and pay the premium. You will receive the policy document in your registered email.
- Emergency assistance-
National Insurance Company provides 24/ 7 emergency assistance within city limits for accidents. You can call the customer service department and register your claim and also ask for roadside assistance for towing your vehicle to the nearest garage.
- Easy renewal-
National Insurance offers quick renewals in simple steps. You are just required to visit the official website of the company, fill the relevant details and pay the premiums. Your policy will be renewed.
- Claim Process-
The claim settlement process of National two-wheeler insurance policy is simple and easy. You can avail cashless settlement at any of its network garage or claim reimbursement of damages caused to your vehicle. For the speedy settlement of your insurance claim, you can contact the insurance company directly.
What is Covered Under National Two-wheeler Insurance?
Two-wheeler insurance generally provides coverage against the following:
- Third-party Liability-
Legal Liabilities arising against third-parties due to an accident resulting in damage to third-party property or third party bodily injury are covered. The financial liability suffered would be paid by the insurance company.
- Own Damages-
Your vehicle may also get damaged in an accident. Third-party liability does not cover damages caused to your own vehicle. Under comprehensive insurance plans, all the damages suffered by your two-wheeler would be covered.
If your bike gets stolen, you can make a claim on your bike insurance policy. With the claim amount received, you can replace your bike with a new one. Theft is covered under comprehensive two-wheeler policies.
- Natural disasters-
Damages arising due to natural disasters such as floods, cyclones, earthquake, hailstorm, etc. are covered under the comprehensive two-wheeler insurance policy.
- Personal Accident (if opted) -
Personal accident cover is an optional cover which can be added to your two-wheeler insurance policy. It covers accidental death and disablement suffered in a bike accident. The personal accident cover offers a maximum compensation of up to INR 15 lakhs.
- Man-made causes -
Damages or losses suffered due to burglary, housebreaking, riot, strike, terrorist act, explosion, self-ignition or fire are covered under the comprehensive policy. The repair costs incurred due to such activities would be covered.
- Damages during transit-
Two-wheeler insurance plans also provide coverage against losses suffered during transit by road, inland waterway, elevator, lift or air when the bike is being transported.
What is not Covered Under National Two-wheeler Insurance
The following situations are excluded from the coverage of National two-wheeler insurance plans:
- Contractual liabilities-
No claims for liabilities arising out of contractual liabilities are paid by the insurance company.
- Mechanical or electrical breakdown-
If your vehicle breakdowns due to any electrical or mechanical fault, no claim would be paid.
- Consequential damages-
Consequential damages are those damages which are not a direct result of an accident. Two-wheeler insurance policy does not cover consequential damages.
- Drunk driving-
If you are drunk driving or are under the influence of drugs and any accident takes place, you cannot make a claim with the insurance company.
- Regular servicing-
Every vehicle requires regular servicing to run smoothly. The cost of regular servicing of the vehicle is to be borne by the owner.
- Damages outside India-
National two-wheeler insurance provides coverage against damages arising within the geographical limits of India. Any damages caused to your bike outside the Indian borders are not covered.
- Driving the vehicle without a valid driving licence-
If you are driving the vehicle without a valid driving licence, the insurance company will not entertain your claim.
- Limitations to use-
There are certain limitations to use the vehicle which are provided in the policy document. If you use your vehicle for purposes beyond such limitations then no claim can be made as it is a permanent exclusion.
When you make a claim of two-wheeler insurance, you should keep the above-mentioned exclusions in mind so that your claim does not get rejected.
How to Apply for a National Two-wheeler Insurance Policy?
The steps to apply for National two-wheeler insurance policy are as follows:
- Contact the insurance-
Contact the insurance company by visiting its office. You can also visit the official website (https://nicportal.nic.co.in/nicportal/home/hcontent ) of the insurance company to buy a policy.
- Proposal form-
Collect pre-printed proposal forms and fill the proposal form duly and correctly. Then submit the proposal form to the nearest branch office of the insurance company. You can also fill the form online to buy the policy online.
- Issuance of policy-
After the payment of estimated premium, the policy will be issued. The policy bond would be mailed to the customer through registered post and also on the email ID.
National Two-wheeler Claim Process
The step-by-step process of making a two-wheeler insurance claim of National two-wheeler insurance plan is stated below:
- Inform the insurer-
Inform the company immediately about the damages. Information can be given to the policy issuing office or the nearest branch office of National General Insurance Company. You can also inform the company online. In case of theft or accident, lodge an FIR with the police immediately.
- Submit the documents-
Submit a duly filled and signed claim form along with policy document, registration certificate, copy of driving licence of the driver driving the vehicle at the time of accident and estimation of repairs.
A survey will be carried out by IRDAI. A licensed surveyor will be appointed by the insurance company to access the extent of the damage.
- Claim settlement-
After verification, the surveyor will approve the claim and the insurance company will settle the claim of your two-wheeler insurance policy.
National General Insurance Company provides one of the smoothest and best claim settlement processes in the country. You can also track your claim status online on the website of the company.
Renewing a Lapsed National Two-wheeler Insurance Plan
You are required to renew your insurance policy so that you can enjoy uninterrupted coverage as well as comply with insurance guidelines. The process of renewal is easy and can be done online by visiting the company’s website (https://nicportal.nic.co.in/nicportal/online/home ). If you do not renew your two-wheeler insurance on time, it will expire and the coverage would lapse.
National General Insurance Company offers a grace period for renewal within which the no claim bonus will remain active. However, if the grace period expires then the no-claim bonus accumulated by you would lapse. You can renew a lapsed policy by informing the National Insurance Company which will conduct a fresh inspection of your vehicle and offer you a fresh quote. Pay the premium and your lapsed policy will be renewed.
Review of National Two-wheeler Insurance
The company has been awarded many times with National and International awards such as “Economic Times Iconic Brands 2018,” SKOCH order of merit 2017 for General Insurance Company of the year and The Asset Asian Awards 2017. National Insurance has been working to become the most preferred choice of customers for general insurance by building a strong relationship and trust. National Insurance is a reputed company and you can buy its two-wheeler policy for covering your vehicle. It offers quick renewal online in which you just need to enter the policy number and pay the premiums online. National two-wheeler insurance policy is an ideal choice for those who are looking for quick claim settlements.
National Two Wheeler Insurance Contact Information
|Registered office address|
3, Middleton Street, Prafulla Chandra Sen Sarani, Kolkata,
|Toll-free number||1800 3450330|
Add ons for your Two Wheeler Insurance
National Two Wheeler/Bike Insurance FAQs
1. What documents are required to be submitted as proof of transferring my no-claim bonus?
You are required to submit a renewal notice from your previous insurance company as a proof for transferring your no-claim bonus. If a renewable notice from the previous insurer is unavailable, you can call your previous insurer and request the confirmation of your no-claim bonus or provide previous policy copy and declaration stating your entitlement for no-claim bonus.
2. What are the documents which are needed to buy a National two-wheeler insurance plan?
To buy a National two-wheeler insurance policy you are required to submit a filled proposal form, previous policy details, copy of RC book and invoice copy (only for issuance of the new insurance policy).
3. What are the add-ons offered by National two-wheeler insurance?
National Insurance offers five add-on covers which can be brought with your two-wheeler insurance policy on payment of an extra premium. The add-ons include nil depreciation cover, engine protection cover, no-claim bonus cover, invoice protect cover and nil depreciation plus for two-wheeler cover.
4. Will I get a claim of two-wheeler insurance if an accident takes place in a State than where the policy was issued?
Yes, if an accident takes place in a State other than where the two-wheeler insurance policy was issued, you will get a claim of your plan. It doesn't matter where an accident takes place as long as it is within the geographical limits of India. Claims outside the Indian borders would not be paid.
5. Can I get a discount on the premium of National two-wheeler insurance policy?
Yes, you can avail discounts on the premium of National two-wheeler insurance policy. You can get no claim bonus discounts of up to 50% if you have not made any claims in the 5 consecutive years. Additional discounts can be availed if you are a member of a recognised Automobile Association in India. You can opt for voluntary excess over and above the compulsory excess which helps you to get discounts according to the amount opted by you. You can also install anti-theft devices in your bike and get discounts.
6. Can I renew my existing policy online?
Yes, you can renew your existing two-wheeler policy online by visiting the website (https://nicportal.nic.co.in/nicportal/online/home ) and providing your policy number. You can buy add-ons too at the time of renewals. After payment of premium, the policy will be renewed instantly if the previous coverage did not lapse. In case the previous cover lapsed, renewal would be allowed after inspection.
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