Future Generali Two-Wheeler Insurance

Section I: Loss Or Damage Coverage

What Does The Future Generali Two Wheeler Insurance Policy Cover?

The Future Generali Two-Wheeler Insurance policy will protect you from any loss or damage to the insured vehicle and its accessories in the following situations –

• Fire, explosion, self-ignition, or lightning.
• Burglary, housebreaking, or theft.
• Riot and strike.
  • Earthquake (fire and shock damage).
• Flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost.
• Accidental external means.
• Malicious acts.
• Terrorist activities.
• While in transit by road, rail, inland-waterway, lift, elevator, or air.
• Landslide or rockslide.

This comes with a deduction for depreciation for the replaced parts at the rates mentioned below -

• Rubber, nylon, plastic parts, tires, tubes, batteries, and airbags - 50%
• Fibreglass components - 30%
• Parts made of glass - No deduction
• For all other parts, including wooden parts, the depreciation rate will follow this schedule –

• When it comes to painting, a depreciation rate of 50% is applied only to the material cost of the total painting charges.  The insurer will consider the material cost to be 25% of the total painting charges when applying depreciation in case of a consolidated bill.

Section II: Liability To Third Parties

The insurer will compensate you in the following situations –

• Death or injury caused to any person.
• Damages to property, excluding property owned by you or held under your care, custody, or control.

Section III: Personal Accident Cover For Owner Driver

The Personal Accident (PA) cover in Future Generali Two-Wheeler Insurance Plan safeguards you from the possibility of physical disability or death in the event of an accident. This coverage is included with your vehicle insurance, providing financial compensation, just like general insurance.

If you, the owner-driver, experience death or bodily injury due to an accident, the insurer will provide compensation based on the following scale –

Note: This is subject to specific terms and conditions outlined in the policy
 

What is Not Covered Under The Future Generali Two Wheeler Insurance Plan?

The insurer will not be responsible for making any payments under Future Generali Two-Wheeler Insurance for –

• Consequential loss, depreciation, normal wear and tear, mechanical or electrical breakdowns, or breakages.
• Damage to tires and tubes, unless the insured vehicle is also damaged at the same time. In that case, the company's liability is limited to 50% of the replacement cost.
• Any accidental loss or damage that occurs when you or anyone driving the vehicle with your knowledge and consent is under the influence of alcohol or drugs.

Insured Declared Value (IDV)

The IDV of your two-wheeler is typically its estimated market value. If your two-wheeler is stolen or damaged beyond repair, it is the maximum amount the insurer will pay you.

Here are the depreciation rates for determining a vehicle’s IDV –

General Exceptions

Under Future Generali Two Wheeler Insurance, the insurer will not provide for the following circumstances -

• Any accidental loss, damage, or liability occurring outside the specified geographical area.
• Claims arising from contractual obligations.
• Any loss, damage, or liability incurred when the vehicle is used in ways not allowed by the 'Limitations as to Use' section.
• Any loss, damage, or liability incurred when the vehicle is driven by or intended to be driven by someone other than the driver specified in the driver's clause.
• Any accidental loss or damage to any property or expenses resulting from any consequential loss.
• Any liability caused by or connected to ionising radiations or radioactivity contamination from nuclear fuel or waste combustion. Here, the term combustion includes any self-sustaining process of nuclear fission.
• Any loss, damage, or liability directly or indirectly caused by, contributed to, or arising from nuclear weapons material.
• Loss, damage, or liability resulting from war, invasion, foreign enemy actions, hostilities, civil war, mutiny, rebellion, military or usurped power, or any direct or indirect consequences of these events. If you want to make a claim, you need to show that the accident, damage, or responsibility was not related to any of the mentioned events and if not, the insurance company will not pay for the claim.

Add-Ons

Here are some additional riders that you can include to your base Future Generali Two-Wheeler Insurance policy –

• Roadside Assistance Cover
  If you find yourself stranded in the middle of the road, just give your insurance company a call and they will provide the following services available under this cover –
  • Towing
    The insurer will arrange for towing your two-wheeler in the event of an accident or break down on a public road and the costs will be covered up to specified limits.
  • Onsite Repairs
    If your two-wheeler experiences electrical or mechanical failure in case of an accident, the insurer can arrange for an on-site automobile technician to carry out necessary repairs.
  • Key Assistance
    You will receive assistance services from the insurer if you misplace or lock in your vehicle key.
  • Flat Tire
    In case of a flat tire, the insurer will assign an automobile technician to assist you. However, any costs for replacing parts will be your responsibility.
  • Battery Boost
    If your two-wheeler’s battery unexpectedly dies, an automobile technician will assist you to jump start the vehicle. However, any expenses for replacing the required parts will be your responsibility.
  • Alternate Transportation
    If your two-wheeler breaks down at least 100 kilometres away from your home during a journey, or while returning, the insurer will arrange for alternate transportation. The costs for this alternate transportation will be covered by the insurer up to specified limits.
  • Fuel Services
    If you run out of fuel or experience fuel contamination, the insurer will assist with refuelling your car. However, the cost of the fuel will be your responsibility.
  • Breakdown Services
    If your two-wheeler breaks down during a trip or vacation, the insurer will provide you with an alternate vehicle or taxi at that location for three days while your two-wheeler is undergoing repair work.
  • Accommodation
    In case your two-wheeler breaks down 100 kilometres away from your residence, the insurer will arrange for overnight accommodation. However, the cost of such accommodation will have to be borne by you.
  • Vehicle Delivery
    If you are on a tour at a distance of 100 kilometres from home, the insurer will arrange to deliver the repaired vehicle to you. The cost of delivering the vehicle will be covered by the insurer, up to the specified limits.
  • Medical Assistance
    In case of an unfortunate accident, the insurer will arrange for medical assistance.
  • Message Relay
    If your two-wheeler breaks down and you need to relay an urgent message to your family, the insurer will assist you in reaching out to them.
• Zero Depreciation
  If you have this add-on in your Future Generali Two Wheeler Insurance policy, the insurer will waive off the depreciation that may be applicable to the parts.
• Loss of Personal Belongings
  If you include this add-on under Future Generali Two Wheeler Insurance plan, the insurer will provide coverage for any personal belongings that are lost or damaged while inside the vehicle due to an accident or theft.
• No Claim Bonus
  With this add-on, you get a no claim bonus advantage at the time of renewal, even if you had filed a claim in the previous year.
• Return of Invoice
  If your bike is declared a total loss, this add-on under the Future Generali Two-Wheeler Insurance plan will pay you the difference between the insurance value and the invoice price of the bike.