Generali Central Two-Wheeler Insurance

Generali Central Insurance Company Limited (formerly Future Generali India Insurance Company Limited) offers comprehensive two-wheeler insurance, called the Motor Protect Two-Wheeler Package Policy. It is designed to financially protect you from losses arising out of damage to your bike, third-party liabilities and personal accidents. All terms, coverage and depreciation schedules are governed by the India Motor Tariff, as notified by the Insurance Regulatory and Development Authority of India (IRDAI).

Under the Motor Vehicles Act, 1988, every two-wheeler owner in India must hold at least a valid third-party insurance policy. Riding without one can attract a fine of up to Rs. 2,000 and/or three months' imprisonment for a first offence.
 

Types of Two-Wheeler Insurance Available

Before understanding coverage in detail, here is a quick overview of the types of bike insurance policies available:

• Third-Party (TP) Only Policy: Mandatory by law. Covers legal liability for third-party death/injury (unlimited) and third-party property damage (up to Rs. 7.5 lakh). Does not cover damage to your own bike.
• Standalone Own Damage (SAOD) Policy: Covers damage to your own bike only. Must be paired with a valid third-party policy.
• Comprehensive (Package) Policy: Covers both own damage and third-party liability under a single policy. This is the policy detailed in this article.

Important: As per the Supreme Court order, all general insurance companies must offer a long-term third-party bike insurance policy for new two-wheelers. IRDAI has directed insurers to offer a mandatory five-year policy for two-wheelers, so every new bike owner should ensure their vehicle has a five-year third-party bike insurance policy.

Section I: Loss or Damage Coverage (Own Damage)

What Does the Generali Central Two-Wheeler Insurance Policy Cover?

The Generali Central 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

Depreciation on Parts (for Partial Loss Claims)

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

• Rubber, nylon, plastic parts, tyres, tubes, batteries and airbags - 50%
• Fibreglass components - 30%
• Parts made of glass - No deduction

For all other parts, including wooden parts, the depreciation rate follows 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.

Compulsory Deductible

Every own damage claim is subject to a compulsory deductible - a fixed mandatory amount you bear from your own pocket before the insurer pays. As per the India Motor Tariff (IMT-22), the compulsory deductible for all motorised two-wheelers is Rs. 100 per claim. You may also opt for a voluntary deductible over and above this, which can help reduce your own-damage premium.

What Is Not Covered Under Section I?

The insurer will not be responsible for making any payments for:

• Consequential loss, depreciation, normal wear and tear, mechanical or electrical breakdowns, or breakages.
• Damage to tyres 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.

Section II: Liability to Third Parties

The insurer will compensate you in the following situations:

• Death or injury caused to any third person, the liability here is unlimited.
• Damage to third-party property, excluding property owned by you or held under your care, custody, or control. The liability for third-party property damage is capped at Rs. 7.5 lakh.

Section III: Personal Accident Cover for Owner-Driver

The Personal Accident (PA) cover in Generali Central Two-Wheeler Insurance 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. Under the current IRDAI rules, it is mandatory for all two-wheeler insurance policies to provide a personal accident cover for the owner-driver. The minimum coverage for this PA cover is Rs. 15 lakh. This applies to both comprehensive and third-party policies.

Note: This cover may be exempted only if the owner-driver already holds a standalone personal accident insurance policy with a sum insured of Rs. 15 lakh or more.

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. A valid driving licence is required to be eligible for this cover.
 

Insured Declared Value (IDV): What It Means for Your Bike

The IDV of your two-wheeler is its estimated current market value. If your two-wheeler is stolen or damaged beyond repair (total loss), it is the maximum amount the insurer will pay you. IDV changes every year with depreciation, so setting it correctly at renewal is important.

A two-wheeler is treated as a total loss (or Constructive Total Loss) if the repair costs exceed 75% of the IDV. Here are the depreciation rates used for determining a vehicle's IDV:

For bikes older than 5 years or obsolete models, IDV is determined by mutual agreement between you and the insurer, based on the prevailing market value.

Tip: Setting your IDV too low saves a little on premium but significantly reduces your payout in theft or total loss. Always set IDV as close to your bike's actual market value as possible.
 

No Claim Bonus (NCB): Save on Your Premium Every Year

No Claim Bonus is a discount on your own-damage premium at renewal for every claim-free year. NCB starts at 20% for the first claim-free year and can go up to a maximum of 50% after five consecutive claim-free years.

Key rules to keep in mind:

• NCB is linked to the owner, not the vehicle. It can be transferred when you buy a new bike or switch insurers.

• If the policy is not renewed within 90 days of expiry, or if a claim is made, the NCB is forfeited.

• NCB is applicable only to the own damage component of your premium, not the third-party portion.

General Exceptions

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

• Any accidental loss, damage, or liability occurring outside the specified geographical area (India, unless extended by endorsement).

• 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 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. The term combustion includes any self-sustaining process of nuclear fission.

• Any loss, damage, or liability directly or indirectly caused by 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 liability was not related to any of the mentioned events; if you cannot, the insurer will not pay for the claim.

Add-On Covers

Here are the additional riders you can include in your base Generali Central Two-Wheeler Insurance policy for broader protection. Each is available at an additional premium and subject to the policy's terms and conditions.

• Roadside Assistance Cover
  If you find yourself stranded on the road, just call your insurer and they will provide the following services:

  • Towing - The insurer will arrange towing in the event of an accident or breakdown on a public road, with costs covered up to specified limits.

  • Onsite Repairs - In case of electrical or mechanical failure due to an accident, the insurer can arrange an on-site automobile technician for necessary repairs.

  • Key Assistance - You will receive assistance if you misplace or lock your vehicle key.

  • Flat Tyre - In case of a flat tyre, the insurer will assign an automobile technician to assist you. The cost of replacing parts will be your responsibility.

  • Battery Boost - If your battery unexpectedly dies, an automobile technician will assist you to jump-start the vehicle. The cost of replacing parts is your responsibility.

  • Alternate Transportation - If your two-wheeler breaks down at least 100 kilometres away from your home during a journey, the insurer will arrange for alternate transportation, with costs covered up to specified limits.

  • Fuel Services - If you run out of fuel or experience fuel contamination, the insurer will assist with refuelling. The cost of the fuel itself is your responsibility.

  • Breakdown Services - If your two-wheeler breaks down during a trip, the insurer will provide an alternate vehicle or taxi at that location for up to three days while your vehicle undergoes repairs.

  • Accommodation - If your two-wheeler breaks down 100 kilometres or more away from your residence, the insurer will arrange overnight accommodation. The cost of accommodation is 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, with delivery costs covered up to specified limits.

  • Medical Assistance - In case of an 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.

  Best for: Long-distance riders, daily commuters on highways and anyone frequently travelling in areas with limited access to repair workshops.

• Zero Depreciation Cover
  With this add-on, the insurer will waive off the depreciation that would otherwise be deducted from claim payouts on replaced parts, allowing you to receive the full repair or replacement value. Note that zero depreciation does not apply to total loss, constructive total loss, or theft claims.
  Best for: New bikes (typically up to 3–5 years old) and high-value motorcycles where part replacement costs are significant.

• Loss of Personal Belongings
  With this add-on, 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 Protection
  With this add-on, you get to retain your No Claim Bonus at the time of renewal even if you had filed a claim in the previous policy year. This is particularly useful for policyholders who have accumulated significant NCB discounts over multiple years.
  Best for: Policyholders with 3+ years of NCB (35% or higher discount) who want to protect a hard-earned premium benefit.

• Return to Invoice Cover
  If your bike is declared a total loss or is stolen, this add-on pays you the difference between the insurance claim amount (based on IDV) and the original invoice price of the bike, so you don't have to bear the depreciation loss out of pocket.
  Best for: New bikes in the first 2–3 years of purchase, especially premium motorcycles with high invoice values.

How to File a Two-Wheeler Insurance Claim with Generali Central?

Generali Central Insurance offers a simple, step-by-step motor claims process:

1. Intimate immediately - Notify Generali Central at the earliest after an accident, theft, or any incident. For accidents involving a third party or theft, report to the police and obtain an FIR.

2. Document the damage - Take photographs of damage to your bike and any third-party vehicle or property, before the vehicle is moved or repaired.

3. Register your claim - File your claim online at generalicentralinsurance.com or call 1800 220 233 (toll-free). You can also download the GC Insure App to track your claim.

4. Surveyor inspection - The insurer will appoint a surveyor to assess the damage. Do not begin repairs before the surveyor visits, unless the insurer gives prior consent.

5. Cashless or reimbursement - If you use a network (cashless) workshop, repairs are settled directly between the insurer and the workshop. If you use a non-network garage, you pay first and then claim reimbursement with bills. For reimbursement claims, Generali Central makes payment to the insured within 7 working days from the date of submission of all final documents.

Documents typically required for a motor claim:

• Copy of the Certificate of Insurance cum Policy Schedule

• Copy of the driving licence of the rider at the time of the accident (with original for verification)

• Registration Certificate (RC) of the vehicle

• FIR copy (for theft or third-party injury/death claims)

• Repair estimate or final bill (for own damage claims)

Things to Check Before Buying or Renewing Your Two-Wheeler Insurance

• Set the correct IDV - Especially important at renewal; don't let your insurer automatically lower it to reduce your premium. A lower IDV means a lower payout in total loss or theft.

• Check if you need Zero Depreciation - If your bike is less than five years old, zero depreciation can significantly increase your effective claim payout.

• Don't skip NCB Protection - If you've accumulated NCB over three or more years, a single claim can wipe it all out. The NCB Protection add-on costs a small extra premium but can save thousands at renewal.

• Renew on time - If the policy is not renewed within 90 days of expiry, the accumulated NCB will be forfeited and you may need a fresh vehicle inspection before renewal.

• Carry mandatory documents - IRDAI mandates that mandatory documents to be carried on an insured bike include the two-wheeler insurance certificate, driving licence, Pollution Under Control (PUC) certificate and Registration Certificate copy.

• KYC is now mandatory - As per IRDAI regulations effective January 2023, KYC authentication (Aadhaar-based, Digital, Video, or CKYC) is required for all motor insurance customers.

FAQs