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Royal Sundaram Bike Insurance
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Royal Sundaram Two Wheeler Insurance Highlights
"Royal Sundaram General Insurance Co. Limited (formerly known as Royal Sundaram Alliance Insurance Company Limited), is the first private sector general insurance company in India to be licensed in October 2000 by the Insurance Regulatory and Development Authority of India. The company was initially promoted as a joint venture by Sundaram Finance, one of the most respected non-banking financial institutions (NBFCs) in India and other Indian Shareholders. Royal Sundaram has been providing innovative general insurance solutions to individuals, families and businesses directly as well as through its intermediaries and affinity partners. The company offers Motor, Health, Personal Accident, Home and Travel Insurance to individual customers and offers specialized insurance products in fire, marine, engineering, liability and business interruption risks to commercial customers. Royal Sundaram also offers specially designed products to the small and medium enterprises and rural customers as well. The company is a pioneer in bancassurance in India, having long-standing tie-ups with reputed banks and NBFCs."
Claim Settlement Ratio
Royal Sundaram General Insurance Company Limited is India’s first private sector general insurance company which was licenced in October 2002 by IRDAI. The company was formerly known as Royal Sundaram Alliance Insurance Company Limited and was initially promoted as a joint venture between Sundaram Finance and other Indian shareholders. Currently, Royal Sundaram, Ageas Insurance and other shareholders hold 50%, 40% and 10% stake in the company respectively.
Royal Sundaram provides innovative general insurance solutions to businesses, families and individuals directly as well as through affinity partners and intermediaries. Royal Sundaram General Insurance Company has won the ET award for Prompt GI Compact Category in the Health Segment.
Types of Royal Sundaram Two-wheeler Insurance
Royal Sundaram offers the following types of two-wheeler insurance plans -
1. Two-wheeler Liability only policy-
Two-wheeler liability only policy covers losses or damages caused to the third-party or third-party property due to an accident in which the insured vehicle was involved. Third-party liability insurance is mandatory under the Motor Vehicles Act, 1988.
Two-wheeler liability only insurance policies, offered by Royal Sundaram, are of following types-
- One year liability only policy-
Liability only insurance policy covers all the liabilities arising to third-party or third party property for a tenure of one year and can be renewed every year.
- Long term liability only policy-
Long term liability only policy covers all the liabilities arising to the third-party or third-party property for a term of 5 years. This insurance plan is available only for new bikes or scooters.
2. Comprehensive two-wheeler insurance policy-
Comprehensive insurance policy provides coverage against potential risks of accidental damages to your vehicle, theft and third-party liabilities. Royal Sundaram offers an annual comprehensive two-wheeler insurance plan. Comprehensive insurance policies are also known as two-wheeler package policies.
3. Bundled two-wheeler policy -
This two-wheeler insurance policy provides bundled coverage of third-party liability for five years and own damage cover for one year.
4. Standalone motor own damage two-wheeler policy-
Third-party liability only insurance policy does not cover own damages. In an accident, your vehicle may also suffer damages which may result in out of pocket expenses. Standalone own damage insurance provides cover against the damages suffered by your two-wheeler due to an accident. You can buy a standalone own damage insurance policy only if you have an existing third-party liability policy.
Note- As per the latest guidelines of Insurance Development and Regulatory Authority of India, every two-wheeler owner is required to buy a minimum of 5-year third party liability insurance policy at the time of buying a new bike or scooter. You can buy a bundled plan in which you get 5 years third- party liability insurance and one year own damage cover. Alternatively, you can also buy an annual own damages insurance cover along with 5-year liability only insurance policy.
Benefits of Royal Sundaram Two-wheeler Insurance
Apart from being mandatory under the Motor Vehicles Act, there are various other benefits of buying two-wheeler insurance policies. The benefits that you can avail from Royal Sundaram two-wheeler insurance are as follows:
- Digitally enabled process-
All the two-wheeler insurance policies are available online through the website of the company. The insurance company also has a mobile app to carry out all the insurance-related processes without the requirement of visiting the branch.
- Customer Services-
The customer service of Royal Sundaram is one of the best in the country. Royal Sundaram ensures that all the concerns of its customers are addressed in the smoothest and the most efficient manner. Its customer service team is available to assist you over phone, email or through a live chat facility.
- Network Garages-
Royal Sundaram has a wide network of over 3300 garages. You can avail cashless repairs at any of the network workshops across the country.
- Transfer of no claim bonus-
You can transfer your no claim bonus when you move your two-wheeler insurance to Royal Sundaram from any other insurer. However, you must remember to renew your policy on time to avail the benefit of no claim bonus.
- Quick Claim Process-
Claim settlement process is the most important part of the insurance policy. Ensuring a fast and reliable claim settlement process is essential. Royal Sundaram two-wheeler provides a simple and hassle-free claim settlement process. You can make a claim of your policy online by following simple steps or by visiting the branch office of the company. The online process is quick and reliable.
- Unlimited claims-
Sundaram offers unlimited claims to its customers provided the terms and conditions of the policy are met.
- Easy Renewal-
You can renew your two-wheeler insurance online within minutes without the requirement of any paperwork or fresh inspection of the vehicle. Just contact the insurance company, pay the premium and the policy is renewed instantly.
What is Covered and Royal Sundaram Two-wheeler Insurance?
Royal Sundaram two-wheeler insurance plans provide wide coverage to ensure that you are protected from unforeseen liabilities in future. Royal Sundaram two-wheeler insurance covers the following damages:
- Third-party liability-
Legal liabilities arising due to death or injury caused to the third party or damages to the third-party property are covered under two-wheeler insurance.
- Own damages-
Comprehensive two-wheeler insurance policy covers damages caused to your vehicle due to an accident.
- Natural calamities-
Losses due to earthquake, landslides, storm and flood and other natural calamities are covered under Royal Sundaram comprehensive two-wheeler insurance policy.
If your vehicle gets stolen then you can make a claim under the comprehensive insurance policy and the insurance company will compensate for the loss.
- Man-made calamities-
Losses arising due to man-made calamity such as terrorism, housebreaking, malicious act, burglary, strike, fire, riot etc. can be claimed under the two-wheeler insurance policy.
- External damages-
External damages such as scratches, dents, broken parts, etc. suffered by the two-wheeler following an accident are covered.
- Personal accident (If opted)-
Personal accident cover is optional. It provides cover to the driver or owner while driving the two-wheeler including mounting or dismounting from the vehicle or travelling in the vehicle as a co-driver. A lump sum amount is paid if the owner or the pillion rider suffers death or disability due to an accident.
What is not Covered Under Royal Sundaram Two-wheeler Insurance?
There are certain general permanent exclusions under a two-wheeler insurance policy which you should be aware of:
Royal Sundaram two-wheeler insurance does not pay for normal wear and tear and ageing of the vehicle.
Every vehicle requires regular servicing for longevity and smooth functioning. The cost of regular servicing is not paid by the insurance company.
- Mechanical or Electrical Breakdown-
Royal Sundaram two-wheeler insurance does not cover the breakdown of a vehicle due to mechanical or electrical faults.
- Without valid driving licence-
If you do not have a valid driving licence and any damages occur while driving without a valid driving licence, no claim from such damages can be made to the Insurance Company.
- Damages outside India-
Royal Sundaram two-wheeler insurance provides coverage against damages arising within the geographical limits of India. In case of damages arising outside the Indian borders, the insurance company will not pay for such damages.
- Consequential losses-
Consequential damages are outside the coverage of Royal Sundaram two-wheeler insurance policy.
- Under the influence of alcohol-
Any damages or losses arising due to driving the vehicle under the influence of drugs or alcohol would not be covered as it is a permanent exclusion.
- Contractual liabilities-
Liabilities arising due to a contract between the policyholder or any other person would not be entertained by the insurance company.
- Limitations as to use-
If you use your vehicles beyond the limitations and for purposes beyond the stated limitations to using, then damages or losses due to such use would not be covered under Royal Sundaram two-wheeler insurance.
How to Apply for Royal Sundaram Two-wheeler Insurance
Buying Royal Sundaram two-wheeler insurance is a quick and easy process. You can buy a policy for your bike or scooter within minutes by following two to three simple steps which are stated as follows-
- Visit the website of Royal Sundaram-
Start off by visiting the official website of Royal Sundaram general insurance. ( https://www.royalsundaram.in/rstwowheeler/web/two-wheeler-insurance )
- Fill the details-
You will have to fill in certain details such as the city of registration of the vehicle, the date when you purchased the vehicle, the make and model of the vehicle and your mobile number to check the amount of premium of two-wheeler insurance.
- Fill the form-
If you find the amount of premium reasonable, then you can go ahead with the process of buying the plan. Fill in the application form by entering your personal details such as your name, address, contact details and additional details of your vehicle.
- Pay the premium-
Pay the premiums of the policy after agreeing to the terms and conditions of the policy. The policy document will be forwarded to your registered email account after payment of the premium.
Alternatively, you can also apply for a two-wheeler insurance policy by visiting the nearest branch office of the insurance company.
Claim Process of Royal Sundaram Two-Wheeler Insurance
Royal Sundaram ensures to provide the highest quality services to its customers for insurance coverage in India. It provides fair, honest, prompt and efficient claim settlement services. The process of two-wheeler insurance claim is stated as follows:
Inform the insurance company immediately either online (https://www.royalsundaram.in/app/motor-claim ) or by calling at 1860 425 0000. You can also write to the insurance company at email@example.com and update the insurance company with your policy details and contact details.
The insurance company will conduct a survey of the vehicle to check the extent of the damage. Royal Sundaram will arrange for a survey on the receipt of the intimation of the claim.
- Submit the documents-
You must submit the relevant documents for the settlement of claim to the surveyor prior to the survey. You must submit a duly filled and signed claim form along with PAN and Aadhaar details. Registration certificate and driving licence of the driver at the time of the accident is also required to be submitted.
- Settlement of claim-
If all the documents are found in order, then the insurance company will arrange for the cashless facility. In cashless claims, you don’t have to pay anything from your pocket as your insurance company will directly pay the repair amount to the network garage. For reimbursement claims, you will have to submit the original cash bill along with the invoice with the cash receipt for settlement of the claim.
Royal Sundaram Insurance offers various modes to inform the insurance company for two-wheeler claims. It ensures to settle the claim within 10 working days from the date of submission of the relevant documents.
Renewing a lapsed Royal Sundaram Two-wheeler Insurance
Renewal of your two-wheeler insurance policy is needed to enjoy uninterrupted coverage and also to comply with the insurance rules. If you forget to renew your policy on time, then your policy will lapse which will result in break-in-insurance. As per the Indian law, every two-wheeler owner should insure their vehicle under third-party insurance at all times.
You can renew your expired policy online through the website of the insurance company (https://www.royalsundaram.in/web/dtc/instarenew/readpolicy ). There would be a grace period for renewal within which your no claim bonus will remain active. However, on expiry of the grace period, the no claim bonus will lapse. If you have a gap in your insurance policy, then you will have to contact the insurance company for renewing your lapsed policy. The insurance company will conduct a fresh inspection of your vehicle and offer you a fresh quote.
Review of Royal Sundaram Two-Wheeler Insurance
Royal Sundaram is the first insurance company to introduce the process of cashless claim settlement for motor vehicles. It has 156 branches and over 2,000 employees across the country with a wide distribution network. The insurance company has 1.50 million customers across India. Royal Sundaram endeavours to make the filing of two-wheeler claims very simple and convenient with prompt and fair service. Also, you can renew the insurance policy in three easy steps online. Royal Sundaram motor insurance incurred claim ratio stood at 89% in the financial year 2010-19. (Source: https://www.irdai.gov.in/ADMINCMS/cms/frmGeneral_NoYearLayout.aspx?page=PageNo3976 ) With quick and reliable claim process and helpful customer care service, Royal Sundaram is one of the biggest insurance providers in the country.
Royal Sundaram Two-wheeler Insurance Contact Details
0225 006 1032 for the new policy
1860 425 0000 for customer service
1800 568 9999 for motor claim intimation
|SMS||SMS <MOTORCLAIMS> to 2567 605|
Vishranthi Melaram Towers,
No.2/319, Rajiv Gandhi Salai(OMR)
Karapakkam, Chennai- 600097
Add ons for your Two Wheeler Insurance
Royal Sundaram Bike Insurance FAQs
1. Which factors determine the premiums for two-wheeler insurance policies?
The following factors determine the premium of your two-wheeler insurance policy-
- The cubic capacity of your two-wheeler
- Insured’s declared value of the vehicle
- Make and model and age of your two-wheeler
- Place of registration of your two-wheeler
- Type of policy that you buy
- Available discounts
- Add-ons selected
2. What is compulsory deductible under the two-wheeler insurance policy?
During the settlement of a claim, a certain amount is deducted by the insurance company from the claim amount. This amount is called compulsory deductible which is borne by the policyholder.
3. What documents are required to be submitted for a two-wheeler insurance claim?
The following documents are required to be submitted for two-wheeler insurance-
- A duly filled and signed two-wheeler claim form
- Registration certificate of the vehicle (Self-attested)
- Driving licence of the person driving the vehicle at the time of the accident
- An FIR is required to be registered at the police station in cases of an accident resulting in death or bodily injury to the third party or damages to third-party property. A copy of the FIR is to be submitted along with the above-mentioned documents.
- Original invoices and cash bills in case of reimbursement claims.
4. Which add-ons can be brought along with Royal Sundaram two-wheeler insurance?
You can customize your bike insurance with different add-ons offered by the insurance company. It offers the following add-ons at an additional premium cost-
- Return to invoice cover
- Zero depreciation cover
- Consumables add-on cover
- Accessories cover
5. How can I check the status of my two-wheeler insurance claim?
You can check the status of your Royal Sundaram two-wheeler insurance claim by calling on the toll-free number 1860 425 0000 and referring to the insurance claim using your claim registration number. The customer department will assist you and update you with the status of your claim.
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