Royal Sundaram Two Wheeler Insurance is a motor insurance policy that covers your vehicle (two-wheeler only) against unforeseen risks and damage. It is mandatory to get at least third party liability insurance cover for your vehicle which is provided by the company along with package policies too for those who wish to get enhanced coverage (personal accident cover + cover for loss/damage to the own vehicle).
What is Royal Sundaram Two Wheeler Insurance Plan?
Royal Sundaram Two Wheeler Insurance is a package policy designed to provide financial cover in case the two wheeler of the customer gets damaged due to stated reasons or if it gets lost or stolen. By package policy we mean a motor insurance plan that provides all-round (comprehensive) coverage, not the mere mandatory third party liability cover. In case of an event, one may call upon the insurance company and claim insurance cover for the same.
Types of Royal Sundaram Two Wheeler Insurance Plans
There are 5 plans forwarded under Royal Sundaram Motor Insurance, viz.:
- Long Term Policy
- Annual Policy
- 5 Year Liability Only Policy
- Bundled Long Term Package Policy
- 5 Year Package Policy
What All Royal Sundaram Two Wheeler Insurance Covers?
Two wheeler insurance plans by Royal Sundaram shall prove beneficial in following cases:
Loss or Damage to Own Vehicle
Damage to the vehicle due to any of the following reasons:
- Natural Calamities: Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rock slide
- Man-made Calamities: Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or air
Liability to Third Party
- Coverage against liabilities arising out of damage caused to a third party or property by the insured vehicle
Personal Accident Cover
- If in an accident, the owner of the vehicle suffers bodily injuries or succumbs to the same, package policy of Royal Sundaram motor insurance will cover for it
- Coverage of Rs. 1 lakh for the owner-rider
How to Apply Online for Royal Sundaram Two Wheeler Insurance
To purchase a two wheeler insurance policy online from Royal Sundaram, go through the steps given below for a smooth processing of application:
- Visit the website of Royal Sundaram
- Click on two wheeler tab on the main page
- You will find an online form for renewal or for new policy purchase
- Click on the preferred choice
- Enter details like registration number of the vehicle, model name and type, mobile number, etc. along with personal & nominee details
- Premium quote for 1, 2 and 3 year policy will be shown
- Pay the premium for the policy period you wish to enrol in using the options available on the website
- Policy will be issued instantly
Insured Declared Value
Insured Declared Value (IDV) of the vehicle is the maximum amount you can claim from the insurance company in case of a theft or total damage of the vehicle. This will be calculated by deducting depreciation cost of the vehicle (directly related to the age of the vehicle) from the market price of the same.
Based on the age of your vehicle, depreciation will vary and so will the IDV, viz.:
|Age of Vehicle||Depreciation (%)|
|Of 6 months or less||5%|
|More than 6 months, less than 1 year||15%|
|More than 1 year, less than 2 years||20%|
|More than 2 years, less than 3 years||30%|
|More than 3 years, less than 4 years||40%|
|More than 4 years, less than 5 years||50%|
Claim Process for Royal Sundaram Two Wheeler Insurance
- Call on the Royal Sundaram General Insurance toll-free helpline number – 1860 425 0000
- While informing, provide them with information like policy details, contact details and loss details
- Do not get the vehicle repaired before survey by Royal Sundaram claim department
- Provide the necessary documents during the survey
- For company owned vehicles, the company seal and authorised person’s signature should be affixed in the claim form
- On the event of approval of cashless claim, repair will take place at one of the network garages of the company
- The company will settle the bills directly with the garage up to the amount payable
- But in case you do not opt for cashless facility, pay for the repairs and then submit the bills along with the claim form to the surveyor/company for settlement
Documents Required for Claim Process
The documents to be provided for claim settlement are:
a) In case of an accident
- Duly filled in and signed Claim Form
- Copy of Driving License, RC book, policy document
- FIR, if required (Kindly note down, contact details of people and vehicle number involved in accident)
- Original Repair Estimate Bill
- In case of cashless service, only Invoice receipt
- In case of reimbursement provide estimate bill, original invoice and payment receipt
- Form 35 & original NOC from financer in case of total loss where payment is made to the insured
b) In case of theft
- Claim form
- Original keys with Copy of Driving License, RC book, Policy document
- Police FIR copy
- Final confirmation with “No Trace Report” of the insured vehicle from the police
c) In case of Third Party Claims
- Claim form
- Police FIR copy
- Copy of Driving License, Policy and vehicle’s RC book
- If the claim amount exceeds Rs. 1,00,000, submit the copy of the PAN Card along with a recent passport photo
Note: For reimbursement claims, original cash bill or Invoice with cash receipt is required for settlement of claim.
Time Taken to Settle Claims
The claim settlement takes between 7-10 days to complete the entire process, provided correct set of documents are submitted and no discrepancy is found in the documents thus received. If there is need of further investigation due to some disparity, this time may go up but is limited to a period of 30 days.
Exclusions under Royal Sundaram Two Wheeler Insurance
The insurance company is not liable to pay for the claims in the following situations:
- Driving without a valid license
- Mechanical or electrical breakdown of the vehicle
- Damage caused by a person driving under the influence of liquor/ alcohol/ drugs
- Depreciation or any consequential loss
- Loss/Damage caused due to war or nuclear risks
- Normal wear and tear of the tyres/tubes
- If the vehicle is used for hire or reward, speed testing or racing, etc.
It is important to renew the policy on time to reap the benefits of the plan. You can renew your policy online in 3 easy steps:
- Visit the official website of the company
- Search for ‘Insta Renew’ on the top bar menu
- You will be redirected to a new page
- Enter your policy number and expiry date
- Submit the details thus entered
- Go through the policy details and calculated premium
- Make the payment
Advantages of Royal Sundaram Two Wheeler Insurance
- One can quickly renew the insurance for up to a maximum of three years, thus eliminating yearly renewal payments
- Policy from another insurance company can be transferred to Royal Sundaram
- Policy can be taken for 1, 2 or 3 years, whichever seems fine to the customer
- Instant online renewal option is available on the website of Royal Sundaram General Insurance
Q1. How will I know it’s time for policy renewal?
Your policy expiry date is indicated on your policy copy. In any case, renewal reminders will be sent to your registered mobile number/e-mail address from the insurance company.
Q2. I want to renew my policy post the expiry of the policy renewal date?
In case of a motor policy (Two-Wheeler, Car etc.), renewal will be done after an inspection with a break-in period for the period it was not covered. It is recommended to renew your policy before 90 days after your policy expiry to continue to enjoy your NCB benefits.
Q3. What are the different ways of policy renewal?
- Pay online – with InstaRenew, online renewal facility
- Pay by cheque – Mail your cheque to C/o Customer Services, Royal Sundaram General Insurance Co. Limited. Vishranthi Melaram Towers, No.2/319, Rajiv Gandhi Salai, (OMR) Karapakkam, Chennai-600 097.
- For any assistance on renewal, SMS MRENEW <<Policy Number>> to 567675. Or call 1860-425-0000 and renew over phone between 10 am and 7 pm
Q4. Can I cancel my policy during the tenure of the policy?
Yes, you can cancel the policy anytime in the policy period. You need to give a 7 days’ notice to the company. Premium paid towards the policy will be refunded if no claims were made.
Q5. On what parts of the vehicle is depreciation charged?
Depreciation is charged on rubber, nylon/plastic parts, tyres & tubes, batteries, air bags and fibre glass components. There is no depreciation charged on parts made of glass.
Q6. Are there any discounts available in Royal Sundaram two wheeler insurance?
There are 3 types of discounts available under the package policy, viz.:
- Voluntary Deductible Discount
- Automobile Association Discount
- No Claim Bonus
Q7. Will I be fined if I drive my bike without insurance?
Yes, you may be fined and/or your license be revoked if caught driving without a valid insurance policy.
Q8. If my friend is driving my car and meets with an accident, will my insurance cover the accident?
If the driver is listed in the policy then the insurance will cover. Generally only the owner or the paid driver is covered under the insurance policy.