Reliance Standalone Own Damage Bike Insurance

Every insurance company aims to guarantee all-around security and, consequently, maximum safety to policyholders and their respective assets. To meet the various needs for the customers' protection, the insurance plans circumvent differently with specified features. Reliance's standalone two-wheeler insurance policy is one such specific indemnity closure. Maximization of protections starts at home first. The Reliance own damage two-wheeler insurance sees to that and weighs the importance of securing one's very own bike.

The standalone insurance, alternatively known as the own damage insurance, pertains to the insured's vehicular protection coverage. This particular type of insurance policy was initiated recently, in the year 2019, by the IRDAI or Insurance Regulatory and Development Authority of India.

How does Reliance Standalone Own Damage Two Wheeler Insurance Work?

The own damage insurance cover for bikes under Reliance helps the customer to be at ease by assisting the insured two-wheeler against various mishaps. While on the road, a bike may experience unforeseen circumstances, such as losses due to fire, theft, vandalism, etc. The standalone policy of Reliance two-wheeler insurance also promises to replace any parts which had undergone any accidental damage during a mishap. This insurance company also offers the compensation of expenses for any lost or damaged part. 

The Reliance standalone insurance policy takes a cue from losses due to natural calamities and also covers the damages occurring from man-made disasters. 

Reliance Standalone Own Damage Two Wheeler Insurance Vs. Third Party Two Wheeler Insurance Vs. Comprehensive Two Wheeler Insurance 

What All is Covered Under Reliance Standalone Own Damage Two Wheeler Insurance Policy? 

The Reliance standalone or own damage two-wheeler insurance policy insures the cost of damages to the policyholder's bike due to various expenses occurring upon the vehicle, such as -

• Accidental damages to the vehicle.
• Natural disasters like floods, earthquakes, landslides,
• Total loss and fire. 
• Man-made ​​troubles and calamities like vandalism, riots, and terror attacks are covered. 
• Theft or any kind of malicious acts brought upon the two-wheeler is dealt with ease by the Reliance standalone two-wheeler insurance policy. 
• Difficulties faced by the bike during transit by rail, road, air & or elevator. 

What All is not Covered Under Reliance Standalone Own Damage Two Wheeler Insurance Policy?

The standalone insurance policy is waived off a few benefits. Reliance makes sure the detailed information about each insurance policy is communicated to the customer for their buy according to their needs. Following are a few exclusions under the Reliance standalone two-wheeler insurance policy: 

• Damages to a third-party person and/or vehicle.
• Damage or losses caused to a third-party property.
• Regular and day-to-day wear and tear of the two-wheeler.
• Any mechanical and electrical breakdown sustained by the vehicle.
• Using the insured private bike for commercial purposes.
• Damage done to or by the person driving without a valid driving licence.
• Loss of the vehicle caused while riding under the influence of alcohol or any other intoxicating substance.
• Loss due to depreciation of the bike's value.
• If the original damage causes subsequent loss, only the original damage will be covered, sans the secondary losses.
• ​Damages incurred to the bike accessories by burglary or housebreaking, unless the vehicle is stolen at the same time.

Reliance Standalone Own Damage Two Wheeler Insurance Benefits 

1. If a policyholder already owns the basic third-party insurance, buying standalone insurance will offer complete protection.
2. A standalone insurance policy lets the policyholder cover the bike for 1, 2 or 3 years and renew it in accordance with the needs of the insurer. This makes the process more flexible.
3. Buying this bike insurance policy is affordable and yet it offers wider coverage to the insured.

Reliance Standalone Own Damage Two Wheeler Insurance Review 

The Reliance standalone or own damage cover seizes the responsibilities for one's bike. Any rider would want to ride their bikes with ease: this insurance policy promises to take off the load by covering for damages and losses from accidents, man-made disasters, and the unavoidable natural calamities. Reliance also provides garage assistance with their garages available all over India. Thus, accessibility of the vehicles to protection is enhanced, and the policyholder is relieved. However, the limit to the compensation one can receive depends on the insured declared value of the chosen two-wheeler.