Royal Sundaram Two Wheeler Insurance is a type of motor insurance that covers your two wheeler against unforeseen risks and damage. In India, at least a third party liability insurance cover is mandatory for your vehicle. The insurance helps manage finances for a two wheeler repair after an accident or any such incident.
What is Royal Sundaram Two Wheeler Insurance Policy?
Royal Sundaram Two Wheeler Insurance is a package policy designed to provide financial coverage in case the two wheeler gets damaged, lost or stolen. The package policy provides all-round (comprehensive) coverage for both the insured vehicle and the third party (property or person).
Types of Royal Sundaram Two Wheeler Insurance Plans
There are 5 plans under Royal Sundaram Motor Insurance. They are:
- Long Term Policy
- Annual Policy
- 5 Year Liability Only Policy
- Bundled Long Term Package Policy
- 5 Year Package Policy
What Royal Sundaram Two Wheeler Insurance Covers?
The two wheeler insurance policy by Royal Sundaram provides the following coverage:
Loss or Damage to Own Vehicle
Coverage is offered against damage to the two wheeler 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, etc.
- 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, etc.
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 injury or succumbs to the same, package policy of Royal Sundaram motor insurance covers it
- Coverage of Rs. 1 lakh for owner-rider
How to Apply Online for Royal Sundaram Two Wheeler Insurance
To purchase a two wheeler insurance policy online from Royal Sundaram, follow the below mentioned steps for a smooth application process:
- Visit the official website of Royal Sundaram
- Click on two wheeler tab on the main page
- You will get 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 (IDV)
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 to 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 Vehicles||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 required for claim settlement depend on the type of claim filed:
a) Accident claims
- 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 financier in case of total loss where payment is made to the insured
b) Theft claims
- Claim form
- Original keys with a copy of Driving License, RC book, policy document
- FIR copy
- Final confirmation with “No Trace Report” of the insured vehicle from the police
c) Third Party claims
- Claim form
- Police FIR copy
- Copy of Driving License, Policy documents and vehicle’s RC book
- If the claim amount exceeds Rs. 1 lakh, submit a copy of the PAN card along with a recent passport photo
Note: For reimbursement claims, original cash bill or invoice is required.
Time Taken to Settle Claims
The claim settlement process takes 7-10 days, provided the correct set of documents are submitted and no discrepancy is found in these documents. In case of a need for further investigation, the time span might go up, but is limited to 30 days.
Exclusions under Royal Sundaram Two Wheeler Insurance
The insurance company does not cover certain situations. These are called exclusions. Thus, the company is not liable to pay for the claims arising due to the following events:
- 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. 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
Here are some of the benefits of buying a Royal Sundaram two wheeler insurance policy:
- One can quickly renew the insurance for up to a maximum of 3 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 if it’s time for policy renewal?
The policy expiry date is indicated on the policy document. Apart from this, the insurance company sends reminders for renewal to the registered mobile number/e-mail address.
Q2. Can I renew my policy after the expiry of the policy renewal date?
In case of a motor insurance policy (two wheeler, car etc.), renewal is done after an inspection with a break-in period for the period it was not covered. It is recommended to renew your policy 90 days before the expiry date to continue to enjoy discounts.
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 plan during the policy tenure?
Yes, you can cancel the policy during the policy period by giving 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 under Royal Sundaram two wheeler insurance?
There are 3 types of discounts available under the package policy:
- Voluntary Deductible Discount
- Automobile Association Discount
- No Claim Bonus Discount
Q7. Will I be fined if I drive my bike without insurance?
Yes, you would be fined and/or your license be revoked if caught driving without a insurance policy.
Q8. If my friend is driving my car and meets with an accident, will my insurance policy cover the accident?
If the driver is named in the policy, he/she will get the coverage. Usually, the owner or the paid driver is covered under the insurance policy.