Raheja QBE Two Wheeler Insurance

?Section I

What Does it Cover?

Raheja QBE Two Wheeler Insurance provides protection against various types of loss or damage to your vehicle and its accessories in the event of –

• Fire, explosion, self-ignition, or lightning.
• Burglary, housebreaking, or theft.
• Riot and strike.
• Earthquake, including both fire and shock damage.
• Flood, hurricane, tempest, typhoon, storm, cyclone, inundation, hailstorm, frost.
• Accidental external means.
• Malicious acts.
• Terrorist activities.
• While the vehicle is in transit, whether on the road, rail, inland waterway, lift, elevator, or air.
• Landslides or rockslides.

This involves deducting a depreciation amount based on the rates outlined below for replaced parts –

• For rubber, nylon, plastic parts, tires, tubes, batteries, and airbags, there is a 50% depreciation.
• For fibreglass components, there is a 30% depreciation.
• For glass parts, there is no depreciation.

The rate of depreciation for all other parts, including wooden ones, follows this table –

• When it comes to painting, a 50% depreciation rate is applicable only to the total cost of the painting materials. For depreciation purposes, the material component of the cumulative painting bill shall be considered 25% of the total painting charges.

?Section II: Liability to Third Parties
Raheja QBE Two Wheeler Insurance will provide compensation in the following situations –

• Injury/death caused to another person.
• Damage to property that does not belong to you or is held in trust or under your care or control.

?Section III: Personal Accident Cover for Owner-Driver
Personal Accident (PA) Cover in motor insurance is a financial safeguard against the potential consequences of a physical disability or death resulting from an accident. It is a part of your vehicle insurance, much like general insurance, providing financial compensation.

Raheja QBE Two Wheeler Insurance will offer compensation in case of death or bodily injury as per the data provided below –

Please note that specific T&Cs can apply.

What is Excluded from Coverage?

Raheja QBE Two Wheeler Insurance won’t provide coverage for the following  –

• Consequential losses, wear and tear of the vehicle, depreciation, mechanical or electrical failures, or breakages.
   
• Damage to tubes and tyres, unless your vehicle is also damaged at the same time. In that case, the insurer will cover up to 50% of the replacement cost.
   
• Any accidental damage or loss that happens when you or anyone driving the vehicle with your permission is under the influence of alcohol or drugs.

Insured Declared Value (IDV)

IDV represents your two-wheeler's estimated market value and is the maximum amount (that is, the sum assured) you can receive when making a claim under your motor insurance policy. This value varies annually due to depreciation.

Here are the depreciation rates used to determine the vehicle's IDV –

General Exceptions

Raheja QBE Two Wheeler Insurance will not cover the following situations –

• Accidental loss, damage, or liability that occurs outside the geographical area specified in the policy.
   
• Claims related to any contractual obligations.
   
• Loss, damage, or liability that happens when your vehicle is used in a way that doesn't follow the specified ‘Limitations as to Use’ or when it is driven by or under the care of someone other than the designated driver mentioned in the driver's clause.
   
• Accidental loss or damage to any property or any related expenses resulting from consequential loss.
   
• Any liability, whether directly or indirectly, linked to ionising radiation or contamination by radioactivity from nuclear fuel or nuclear waste generated during the combustion of nuclear fuel.
   
• Loss, damage, or liability directly or indirectly tied to nuclear weapons material.
   
• Any accidental loss, damage, or liability caused directly or indirectly by events like war, invasion, actions by foreign enemies, hostilities, war-like operations, civil war, etc. If you need to make a claim hereunder, you must demonstrate that the loss, damage, or liability has no connection to these events. If you cannot prove the same, the company will not be responsible for paying your claim.

Add-Ons Available With Raheja QBE Motor Insurance (Two-Wheeler)

1️⃣Zero Depreciation

What is Covered?
When you pay an extra premium, the company will reimburse you for the depreciation amount subtracted from the value of replaced parts in an own damage claim (as per Section 1 of the policy). However, there is a limit to the number of eligible claims you can make during the policy period, as stated in the policy schedule of Raheja QBE Two Wheeler Insurance. You should remember that certain conditions will also apply.
 

What is not Covered?

• This add-on does not cover total loss, constructive total loss, or theft claims.
• Claims under this cover will be subject to the standard deductible specified in Section 1 of the policy.
• It is important to note that this coverage is also subject to the remaining terms, conditions, and exclusions detailed in the policy.

2️⃣Return to Invoice

What is Covered?
When you pay an extra premium to the insurance company, they will step in to cover the financial gap between what you receive under section 1 of the policy and the actual purchase price of your vehicle, as indicated in the sales invoice - if the same make and model of your vehicle is not available. However, they will pay the current replacement price of a new vehicle if the same make/model is available.

This coverage comes into play when your vehicle experiences a Total Loss or Constructive Total Loss (CTL) due to an accident or is stolen during the insurance period and remains unrecovered.

Furthermore, the insurer will also reimburse you for the first-time registration charges, road tax, and the applicable insurance cost you incurred for your vehicle, which is calculated as follows. In this coverage, the term ‘Insurance Cost’ refers to the sum of two components –

• The own damage premium, as outlined in section 1 of the policy schedule. This is determined by multiplying the current year's own damage rate by the Insured Declared Value (IDV) of the vehicle at the time of purchase.
   
• The current year's third-party premium, which is the rate set by the regulator for new vehicles.

Here, the current year refers to the financial year in which the claim event occurs.

Special Condition
If your policy has an endorsement from a finance company or bank with a financial interest in your vehicle (hypothecation), they must provide a written agreement.

What is Not Covered?
The insurer will not provide coverage in case of -

• Total loss, constructive total loss, and theft claims if they’re not admissible under Section 1 of the policy.
• Any electrical or electronic accessories as well as non-electrical or electronic accessories that are not inbuilt, including bi-fuel kits, mentioned in the invoice but not insured under Section 1 of the policy.
• Any theft claim where the final investigation report from the police, confirming the theft of the vehicle, is not submitted.
• Insured vehicles that have been imported.

3️⃣Consumables Cover

What is Covered?
If you pay an additional premium, as specified in the schedule, the insurer will cover the replacement or replenishment cost of consumables in the event of an accident. Here, consumables include items such as engine oil, gearbox oil, lubricants, nuts, bolts, screws, distilled water, grease, oil filters, bearings, washers, clips, brake oil, fuel filters, etc., with the exclusion of fuel.

Special Condition
A standard deductible specified under section 1 of the policy applies to claims under this cover. All other terms, conditions, limitations, and exceptions of the policy remain applicable.

What is Not Covered?
This add-on will not cover -

1. Consumables that are not linked to an eligible own damage claim under section 1 (own damage) of the policy.
2. Invalid claims that are not eligible under section 1 (own damage) of the policy.
3. Costs associated with repair work done at an unauthorised garage.

4️⃣Helmet Cover

What is Covered?
If you pay the specified additional premium as outlined in the schedule, the insurer will cover the cost of replacing a damaged or destroyed helmet in case it gets damaged due to an accident involving your vehicle. You will receive a helmet of the same type and model.

Special Condition
There is a deductible of 5% of the sum insured for the helmet subject to a minimum of Rs. 100. This condition applies to each and every claim made under this cover. All other terms, exceptions, conditions, and limitations of the policy remain in effect.

What is Not Covered?
This coverage does not apply to -

• Theft claims
• Damage caused by deterioration, wear and tear, etc.

5️⃣NCB Retention Cover

What is Covered?
Upon payment of an additional premium as specified in the policy schedule of Raheja QBE Two Wheeler Insurance and despite any provisions in section 1 of this policy, your current applicable No Claim Bonus (NCB) will remain intact when the policy is renewed.

Please note that the benefit of this cover applies to only one approved accidental claim during the policy period.

What is Not Covered?
Your NCB will not remain intact under this add-on if -

• The policy is not renewed within 90 days of its expiry.
• Your claim falls under the Total Loss (TL) or Constructive Total Loss (CTL) category.

You should keep in mind that certain conditions will apply.

6️⃣Engine Protector

What is Covered?
If you pay an additional premium, the insurer will cover the repair and replacement expenses for consequential loss or damage to internal parts of the engine, gearbox, transmission, or differential assembly. This coverage applies when the loss or damage is a result of water entering the engine or lubricating oil leaking from the engine or respective assembly. Additionally, the plan will also cover the cost of lubricating oils and consumables used in the respective assembly. Here, consumables refer to materials that are utilised and need continuous replenishment, such as engine oil, gearbox oil, etc. - excluding fuel.

What is Not Covered?
This add-on will not cover -

• Loss or damage that falls under the manufacturer's warranty, recall campaigns, or is part of routine maintenance or preventive maintenance.
• Any worsening of loss or damage, including corrosion, resulting from a delay in notifying the insurer or retrieving the vehicle from a waterlogged area.
• The cost of lubricants in case of loss due to leakage and flushing of consumables.
• Claims for repairs done without prior approval of the insurer.

You should keep in mind that certain conditions will apply.

7️⃣Daily Conveyance Benefit

What is Covered?
If you pay an additional premium as outlined in the policy schedule, the insurer will cover the loss of use of your vehicle due to risks covered under section 1 of this policy. You will be provided compensation for transportation costs during the repair period in either of the following ways –

1. 1. A fixed daily allowance.
   2. Provision of a replacement vehicle.
   3. Distribution of coupons from taxi operators equal to the daily fixed allowance.

The mode will depend on the insurer’s discretion.

Conditions for Benefit Payment
The benefit will only be paid if –

• Your vehicle is being repaired in one of the authorised garages.
• If the time needed for repairing your vehicle exceeds the number of days specified in the policy schedule.
• If you promptly take delivery of your vehicle once the repairs are completed.

So, to be eligible for the allowance provided by this benefit, your vehicle must be in the custody of the insurer’s authorised garage for repairs for a period longer than the number of days specified in the policy schedule. That is, the duration from the date of delivering the vehicle to the authorised garage or the date of notification to the insurer (whichever is later) until the discharge date, should exceed the number of days mentioned in the policy.

And, keep in mind that the daily conveyance benefit is applicable only when a claim for loss or damage to your vehicle is admissible under the plan - excluding cases of total loss or constructive total loss. And, no claims under this add-on cover will be paid if there is no eligible claim under the policy for loss or damage to your vehicle.

Scale Of The Compensation
The compensation amount under this add-on is provided according to the plan chosen by you. It is specified in the premium table. However, this is subject to a maximum limit of a certain number of days.

In case your vehicle is stolen and not recovered within 90 days, the daily conveyance benefit will be paid in a lump sum depending on the plan selected by you.

Things To Keep In Mind!

• Please note that once your vehicle is taken out of the garage, no further payment will be made for the same accident-related loss or damage.
   
• The insurer will not be responsible for any delays caused by the late delivery of vehicles to the garage. Additionally, no coverage will be provided for the time spent by the workshop on damages that are not eligible under section 1 of the policy.
   
• For the purposes of this add-on, a claim arising out of a damage/loss is an eligible claim if -
  1. It is admissible under section 1 of the policy.
  2. Your vehicle is kept at an authorised garage for a period exceeding the number of days specified in the policy schedule.
  3. A daily allowance is payable for at least one day in the event of damage/loss arising out of an accident.

A claim arising from theft of an insured vehicle is an ‘eligible claim’ and entitles you to the benefit provided in this add-on.

Keep in mind that all other terms, exceptions, conditions, and limitations of the Raheja QBE Two Wheeler Insurance remain applicable.