What Is National Insurance Two-Wheeler Policy?
Driving a two-wheeler insurance policy is always risky and one has to be really cautious when driving their vehicle. One such precaution people can take is having a two wheeler insurance policy. National Insurance Two-wheeler policy protects bike and scooter owners against accidental damages and liabilities due to loss or damage. As mandated by law, it also covers third party damages, losses and financial liabilities resulting from injuries or death caused to a third person.
Types Of Two-Wheeler Insurance Policy
National insurance two-wheeler insurance policy offer an extensive coverage against a wide range of damages or incidents that can affect your two-wheeler. National Insurance provides two types of coverage:
- Third party liability cover: – It insures you against any legal liability arise due to accident with third party involving your vehicle. This plan covers any injuries or death and property damage of third party. This plan does not include damage to one’s own vehicle.
- Package or Comprehensive Cover: – It is a comprehensive cover plan which covers both third party liability and damages done to one’s own vehicle, including the rider and co-passenger. Under this plan, accident due to external causes like fire, explosion, self-ignition and lightning are included. Along with, burglary and theft are also included.
What All National Insurance Two-Wheeler Policy Covers?
Package cover: – It insures all liabilities as well as damages caused to your vehicle:
- Damage caused by accident by external means such as fire, explosion, self-ignition and lightning
- Damage caused in transit by road, rail, inland waterway, air, lift
- Burglary, house breaking or theft
- Terrorism, riots, strikes or malicious acts
- Earthquake, floor, storm, landslide, rockslide
Liability to Third Parties:-This covers any injury or death of the third party:
- Injury or death of third party
- Property damage (Up to Rs 7.5 lakhs)
- Covers the loss of the driver
How To Apply Online For National Two-Wheeler Insurance Policy?
- One can buy National Insurance two-wheeler insurance policy from the online mode by first clicking the motor insurance tab
- Afterwards, click on the buy policy and enter the required details such as model number and other important information
- When you have entered all the essential details, click on the make the payment and pay the premium amount through the card or net banking mode
The claim procedure is easy and efficient for national insurance two-wheeler insurance policy. The customers are provided with assistance within a day or two after the claim.
- Call the toll-free number to lodge your claim by providing them with following information to the insurance company:
- Policy Number
- Date and Time of Accident
- Estimated loss
- Location of survey
- Name, Contact no., and license of the driver
- The official will then contact the person who has the insurance to carry with the other procedures
- Insured person will be provided with the claim reference number
- The insured will get the text message regarding the survey details when the claim gets submitted and approved
- The surveyor then inspects the damaged vehicle, after which, approval is given.
Document Required For Claim Process
The documents that has to be submitted in the claim process are-
- Claim Form
- Driving License Copy
- Certificate of registration
- Police FIR, in case of accidents or thefts.
- Motor Policy Insurance
- Receipt of premium payment.
Cases Where You Can’t Claim National Insurance Two-Wheeler Policy
The insurance company won’t pay if the claim arises because of the following:
- General wear and tear
- Failure due to mechanical or electrical issues.
- Consequential loss
- Damages due to war
- Usage beyond Indian borders
- Accidents caused under the influence of drugs or alcohol.
- Usage for non-private purposes
- Drivers without valid driver’s license.
- Loss or damage of accessories.
- Damage caused due to purposely neglecting the vehicle.
Insured Declared Value
IDV is the amount that the vehicle has been insured for. IDV is derived from the selling price of the producer and from the value of depreciation amount based on the age of the vehicle. Depreciation plays a key role in determining IDV of a vehicle.
|Age of the Vehicle||Depreciation in percentage|
|Less than 6 months||5|
|6 Months to 1 year||15|
|1 year to 2 years||20|
|2 years to 3 years||30|
|3 years to 4 years||40|
|4 years to 5 years||50|
Vehicles in which IDV exceeds 5 years, is considered as an obsolete model.
National Insurance Two-Wheeler Renewal Process
Renewal process for this policy is very straightforward and effortless as policy holders can renew their insurance through online portal easily.
* Go to the e-portal of National Insurance, enter policy number and D.O.B
* Select your payment option
* Save the premium receipt which you receive after payment.
You can also pay via mobile app of the company. For offline renewals, you must visit the company office or authorised agent and make the payment in cash or through other means. In both cases, make sure to keep your payment receipt handy as that might be required in case of any disputes.
Advantages Of National insurance Two-Wheeler Insurance Policy
National Insurance Company is one of the oldest insurance companies and with that being said, it offers many unique benefits given below:
- Add-on covers such as loss of accessories, legal liability to paid driver, personal accident to the occupants, further increase the coverage of the motor insurance policy
- Have easy and transparent claim settlement process
- Easy transfer of no claim bonus from pre-existing insurance to this policy
- Easy renewal and purchase of policies through online portals
Discounts Offered Under National Insurance Two-Wheeler insurance policy
National insurance two-wheeler insurance policy offers some attractive discounts to the policy holders from time to time. These discounts help in reducing the amount of premium to be paid for insurance coverage, without affecting the interests of the insured person in any way whatsoever. Following are the different discounts available under national insurance two-wheeler insurance policy: –
- No claim bonus
National Insurance Company offers a no claim bonus against its two-wheeler insurance policy. You can get NCB discount for every claim-free year. Here is the rate of discounts available to national insurance two-wheeler insurance policy holders:
|No. of years (consecutive)||Discount|
|1 claim-free year||20%|
|2 claim free years||25%|
|3 claim free years||35%|
|4 claim free years||45%|
|5 claim free years||50%|
- VOLUNTARY DISCOUNTS
A deductible is the amount that one needs to pay during an accident or mishaps. The higher your deduction amount, the lower will be the premium you pay for the insurance.
Q1-What are the modes of paying premium for National Insurance Two-Wheeler Insurance policy?
The National Insurance Company has two methods of paying premium:
* Online payment
* Offline Payments
In the online payment mode, users can pay through-
- Net Banking
- Credit card
- Debit Card
In case of offline payments, payments can be made through: –
- Cheque / Demand Draft / Bankers Cheque
Q2- How can I check the policy status for the new policy?
It is very easy to check one’s policy status. Just log in to your company’s portal and use your registration details along with application number to check the status of the policy/claim.
Q3-What is their claim settlement process?
First, you have to fill the claim form and submit the necessary documents. Your vehicle will then be survey by the surveyor. If required, additional information will be also sought. If everything is found satisfactory, the claim will be settled by transfer of payment to your registered bank account