Royal Sundaram is a renowned name in the general insurance industry. Sundaram Finance holds a major share of 75.9% and its stakeholders hold the remaining 24.10%. Royal Sundaram bike insurance is trusted by the consumers for its excellent services in the field of insurance.
Royal Sundaram offers a number of insurance products, ranging from bike insurance, travel, health, vehicle and personal accident insurance. These plans are available for individuals, groups, corporates, and families.
Why Choose Royal Sundaram Bike Insurance Policy
Nearly 50% of the vehicles – on Indian roads are running without insurance. Moreover, the careless driving leads to many road accidents Thus, it is imperative to hedge the financial troubles associated with road accidents through Royal Sundaram bike insurance.
As you already must know that buying two-wheeler insurance is mandatory for all those who drive/own two-wheelers. This is the reason why heavy fines are imposed if the person is found to be driving without the insurance. In extreme cases, it can even lead to imprisonment.
Royal Sundaram Two Wheeler Insurance Advantages
A two-wheeler insurance policy is an ideal solution to meet the cost of damage and liabilities that may arise due to road emergencies. Here’s a quick rundown of some of the major advantages of insuring your two-wheeler-
- Get complete coverage for your motorcycle and scooter and its accessories
- Third party liability arises out of vehicle and property damage or death is recompensed
- Sum assured of Rs. 1 lakh for the owner/driver in case of an accidental damage
- Quick and easy Royal Sundaram bike insurance renewal and purchase process
- Insurance for your two-wheeler is available for a period of 2 and 3 years as well
- Claim to be settled within 10 working days
Royal Sundaram Bike Insurance Features
- Pay only once to buy and renew a 2 and 3-year insurance plan.
- Can transfer the accrued NCB while switching your previous bike insurance policy to Royal Sundaram
- Moreover, the company won’t charge an extra premium in case there is an increment in the third party bike insurance premium at any time during the policy term.
- Single policy document for a 2 and 3 year Royal Sundaram 2 Wheeler Insurance
Royal Sundaram Bike Insurance Coverage
The basic cover is third party liability insurance, which is mandatory to buy in India if you drive a motorcycle, scooter or Activa. However, Royal Sundaram comprehensive bike insurance package policy is designed to provide complete coverage for own damages. Their comprehensive bike insurance policy is available for long term also; you can buy a 2 and 3-year plan as well.
Inclusions – Royal Sundaram Bike Insurance
Comprehensive Insurance that Includes Own-Damage Cover
Under a comprehensive bike insurance policy, both natural and man-made disasters are compensated by the insurer. Here’s a list of the damages that are covered-
- Accidental damage due to external factors
- Flood and storm
- Fire & Explosion
- Strike and riots
- Malicious Activities
- Theft, housebreaking, and Burglary
Royal Sundaram Third Party Liability Insurance
- Third-party legal protection in case of death or bodily injuries
- Third party property damage cover
- Any legal and financial expenses are also covered
Royal Sundaram Personal Accident Cover
The owner/driver shall be compensated for INR 1 lakhs in case there is an accident whilst driving the bike. Compensation is also provided if the accident takes place while mounting or dismounting from the two-wheeler.
No-Claim-Bonus on Royal Sundaram Bike Insurance
No claim bonus can be earned for every claim-free year. The NCB will be offered as per your eligibility on renewal-
Royal Sundaram Two Year Bike Insurance Policy-
For a new two-wheeler, the NCB will be 0%. If no claims were made, 25% of NCB is offered at the time of renewal. You can opt for a 2-year and 3-year policy at the time of renewal.
If a claim is made within 2 years of the policy period, 20% of NCB shall be accrued. For more than one claim during the policy period, the NCB will be nullified. You can earn a maximum of 50% of NCB during a policy term. Refer to Royal Sundaram Bike Insurance policy wordings for more details.
Royal Sundaram Three Year Two-wheeler Insurance Policy
If no claims were made during the policy period, the insurer will provide you with 35% No-Claim Bonus at the time of renewal for the next slab of 3 years. If a claim is made during the policy period, the NCB will be reduced to 25%. If more than 2 claims are made, you will lose your NCB. The maximum NCB that can be accrued during a policy term is 50%. Check policy documents for more details.
Royal Sundaram 2 wheeler insurance Exclusions
A Royal Sundaram bike insurance policy will cover most of the damages resulting due to a collision, theft, accident, floods etc. but there are certain circumstances under which the insurer shall reject your claim.
- If your personal property is damaged, then the insurer will not reimburse the loss
- Consequential losses are not compensated
- Depreciation of the parts
- Routine Wear and tear
- Using the bike for racing
- A claim will be denied if the driver is found to be driving without a DL (driving license)
- Electrical and mechanical breakdown
If the driver is found to be in the state of being intoxicated, especially by drugs and alcohol.
*For detailed exclusions read the Royal Sundaram bike insurance policy wordings.
Discounts Available in Royal Sundaram Two-wheeler Insurance Policies
There are certain discounts that you can earn on your bike insurance premium-
- Discount to Members of a recognized Automobile Association
- No Claim Discount up to 50%
- Voluntary Deductibles
Royal Sundaram Bike Insurance Claim Settlement Procedure
To file a claim, you need to inform the insurance company at their helpline no.
You can drop a mail also on their email id
As soon you intimate the insurer, a representative from Royal Sundaram will get in touch with you to initiate the process-
The Process and Documents Required
- In the first place, inform the insurance company via call or email. The process will be initiated once the intimation is given.
- Second, do not attempt to repair or dismantle the damaged two-wheeler before the surveyor assesses it. Prior to the survey, submit all the documents to the surveyor.
- The survey will be conducted once the repair estimate and claim estimation receipt are provided to the repairer.
- Royal Sundaram bike insurance claim form to be signed and duly filled along with Pan Card and Aadhaar card details. To file a claim for a company-owned two-wheeler, the form needs to be signed by an authorized signatory and should have the company seal on it.
- Original RC and DL along with a Xerox copy
- For claims above Rs. 1 Lakh, your passport size photo and Pan card is required
- Depending on the type of claim, more documents may need to be submitted
- Cashless claim settlement will be done in case all the documents are submitted.
- Once the satisfaction voucher is signed and the remaining amount is paid, you can collect the repaired vehicle from the garage.
- To get reimbursement of the insurance claim, you need to provide the original bills and receipts of the invoice to the insurer
- The surveyor can also ask for re-inspection of the insured two-wheeler.
Royal Sundaram Two Wheeler Insurance Online Renewal
- You can easily renew Royal Sundaram 2 Wheeler Insurance Online. Once all the details are submitted, you will get your vehicle insurance quote. All you need to do is – Submit policy details like policy number and expiry date.
- To purchase insurance for new two-wheeler, submit your mobile number and manufacturing year
Royal Sundaram Bike Insurance Renewal Online Steps
- Submit your policy number and its expiry date
- Check your policy details and the amount of premium
- And then pay the amount online
Royal Sundaram Bike Insurance FAQs
Q1. What is covered in Royal Sundaram two-wheeler long-term comprehensive insurance policy?
It is almost indispensable to insure your bike or two-wheeler. In a long-term two wheeler policy, protection is offered to you in case of third-party damages as well as any damage caused to your insured vehicle.
Q2. Can I cancel my Royal Sundaram bike insurance in mid of the policy period?
Yes, you can. To cancel a two-wheeler insurance policy you need to give a 7 days’ notice to Royal Sundaram. The premium amount will be refunded in case no claim was made. The insurer will retain a minimum of Rs. 100 of the insurance premium. Cancellation will be approved only if you provide a proof of purchasing another policy. At least a third party insurance is required from another insurer to cancel the current policy.
Q3. Do I need to buy multiple policies if I buy a 2 or 3-year Royal Sundaram two wheeler insurance policy?
No, you only need to buy a single policy to insure your bike for long-term.
Q4. What are the factors that determine the premium rating for long-term two-wheelers?
Two-wheeler insurance premium is calculated on the basis of a number of factors that are listed below-
- Bike insurance tenure – 1, 2 or 3 years
- Cubic capacity of the engine
- Current market value of the two-wheeler
- Two-wheeler’s age
- Place of registration
Q5. What is the minimum premium amount I need to pay for a long-term Royal Sundaram bike insurance policy?
If you buy a 2-year plan and a 3-year plan, then the minimum premium amount is Rs. 200 and Rs. 300 respectively.