Imagine this: Ravi was a passionate biker, and he had always treasured the crimson motorcycle that he lovingly called Blaze. For Ravi, Blaze was not just a bike; it was freedom on two wheels. Blaze was his escape from the ordinary, carrying him through winding mountain roads and bustling city streets alike. Every ride turned mundane days into thrilling adventures.
However, life does not ride so smoothly sometimes.
One evening, while Ravi was cruising back home from a scenic weekend ride, everything in his world came to a screeching halt. A careless driver ran the red light and slammed into Blaze. The joyride was replaced in an instant with fear and shock as Blaze, his beloved bike, lay severely damaged. Ravi was left shaken.
As reality set in, a flood of questions hit him-
How will I pay for these repairs? What if it had been worse? What if Blaze had been stolen? Could I have done more to protect it?
These are questions every bike owner has to face at some point. And the answer lies in one thing: a reliable bike insurance policy with extensive coverage.
This is where Royal Sundaram Bike Insurance steps in! Think of it as your bike’s silent guardian—ready to step in when life throws you a curveball. With Royal Sundaram, even the unexpected won’t leave you stranded, financially or emotionally.
Wouldn't you want the same protection for your bike? Thinking about how it operates and why it is important? Dive into the details and have your dear bike stay completely safe from anything that would come its way.
Royal Sundaram Two Wheeler/Bike Insurance Policy
Royal Sundaram Bike Insurance is a lifeline to all bike owners like Ravi. It is like an agreement between you and the insurer that provides financial protection that could otherwise be overwhelming. Whether the damage is to your bike, third-party liability, or even injuries to the bike owner, this policy covers on behalf of the bike owner. Whether by accident, theft, or damage from natural disasters, the policy ensures your bike, and your finances, stay protected.
These days, with more bikes and two-wheelers, have you ever wondered if there is an increased risk to it? With an increasing number of vehicles, there comes the probability of accidents too.
Did you know that out of all the accidents in the year 2022, 63,115 were because of two-wheelers? Can you believe it? Two-wheelers make up a significant portion of vehicles on Indian roads, but they also come with notable risks. For instance, recent data highlights that 41.5% of total accident fatalities on National Highways involved two-wheelers.
Now, what does this translate into for you as a bike owner? It's one thing you should consider—the necessity for a good bike insurance policy. It is more than just following legal compliance—it ensures you are protected by sufficient finances to handle anything that may come your way.
Well, did you know that it is mandatory for a bike owner to have at least a Third-Party Liability Insurance Policy? Not just a formality; it is mandatory by the law.
The Indian government made this mandate effective for all new two-wheelers sold in the country and must be insured, including a five-year policy for third-party liability. This rule was initiated on 01 September 2018.
But have you ever wondered what would happen if you took a ride without proper insurance? There are road risks, but also you might get penalised and even suffer legal complications. Third-party insurance is mandatory for everyone. However, an optional choice is to consider a Comprehensive Two Wheeler Insurance Policy. Why just play it safe with basic cover when you could have more comprehensive protection against risks?
This is where Royal Sundaram comes into the picture with its comprehensive two-wheeler insurance policies. They are designed to cover a wide range of risks and provide you with peace of mind on every ride.
Let’s first begin by understanding the various features this policy has to offer to you!
Features and Benefits of Royal Sundaram Two Wheeler/Bike Insurance Policy
The Royal Sundaram Two-Wheeler/Bike Insurance coverage is very extensive and is accompanied by many benefits through a wide-ranging protection approach towards bike owners. Here is an overview of those key features and benefits-
- Own Damage Cover: Comprehensive policies offer protection for your insured bike against damages caused by accidents, natural disasters, or even man-made incidents, ensuring thorough coverage in various situations.
- Cover For Third-Party Damage: Offers protection for liability for damage to the third-party's property and for bodily injuries caused to the third party people.
- Comprehensive Insurance: This provides own damage coverage along with third-party liabilities for all-around protection.
- No Claim Bonus: No Claim Bonus (NCB) is an incentive offered by the insurer for each policy year in which no claim is made against your policy. It is given out as premium discounts for good riding habits on the roads.
- Cashless Repairs: Through Cashless Repairs at network garages, you may get your vehicle repaired without paying cash in advance as the insurer takes care of the bill. It streamlines the claims process directly with the garage. You have the advantage of cashless services through 7600+ network garages across India with Royal Sundaram Bike Insurance.
- Add-ons: Royal Sundaram’s comprehensive two-wheeler insurance provides a range of add-on options designed to enhance your coverage and offer protection in specific situations. These add-ons are tailored to give you extra peace of mind when you need it most.
Let’s look at the various add-ons that Royal Sundaram Insurance provides to save you in times of need.
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- Nil Depreciation Cover: Replacement/repair claim settlement with no deduction of depreciation from bike parts i.e., the depreciation deducted from the claim amount will be given back if this add-on is chosen subject to specific terms and conditions.
- Roadside Assistance Cover: It provides services like towing, minor repairs(on the spot), refuelling, battery jump-start, etc. This add-on provides valuable support by offering assistance during emergencies that may arise while you're on a journey.
- Return To Invoice Cover: Provides an amount that is the invoice cost of the bike(current market cost, that is the IDV of the bike.) in the event of its total loss/theft/damage. With this add-on, the insurer covers the purchase cost of your bike, including the on-road price along with road taxes and registration fees.
- Engine Protector Cover: This cover provides protection to the engine from water ingress, hydrostatic lock and oil leakage.
Other than these, there is personal accident cover for owner-driver along with additional third-party property damage cover for better security. The add-on or rider amount which is going to be provided will be beyond the standard sum assured in a vehicle insurance policy.
Royal Sundaram Insurance knows that variety is the spice of life and thus provides a wide array of policies to its customers!
Types of Royal Sundaram Two Wheeler/Bike Insurance Insurance Policy
Here’s an overview of the different types of insurance that Royal Sundaram provides-
- Comprehensive Insurance
This comprehensive bike insurance gives protection towards both your two-wheeler and third-party liabilities. It protects damages done by accidents, thefts, fire, natural, and man-made disasters as well. Hence, it gives the ultimate security and peace of mind to all the bike enthusiasts on the roads.
- Own Damage Insurance
Own damage insurance only covers the damages of your bike in case of accidents, theft, and man-made or natural calamities. This policy is perfect for bike owners who already hold third-party insurance but wish to independently safeguard their vehicle against potential damages.
- Third-Party Insurance
Third-Party Insurance is compulsorily obtained in the law and covers damage or loss to a third-party person, vehicle, or property. It is crucial for those who own bikes and seek protection against liability caused due to accidents involving third parties.
What Is Covered Under Royal Sundaram Two Wheeler/Bike Insurance Policy?
Royal Sundaram has a wide range of coverage options under its bike insurance policy. Let’s have a glance at them-
- Damages And Loss To Your Bike
The own-damage cover in a comprehensive bike insurance plan or a standalone own damage insurance safeguards your two-wheeler against multiple risks including the following:
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- Natural calamities: These include protection against damages caused by floods, cyclones, earthquakes, snowfall, etc.
- Man-made incidents: Terrorist attacks, riots, strikes and other harmful activities.
- Fire damages: Losses due to own ignition, lightning, explosions, and similar events.
- Accidental damages: Coverage for damages resulting from accidents or while in transit by air, waterways, railways, or roadways.
- Bike Theft
A comprehensive two-wheeler insurance cover will compensate for the bike in the case of theft or 'total damage' that results in it being beyond repair, as per the market value at the time.
- Third-Party Liability
Both third-party bike insurance and comprehensive bike insurance protect third-party liabilities. Damages to third-party property or any bodily injuries leading to death from an accident in which your bike was involved will be covered under both. This peace of mind helps bike owners manage the unexpected consequences of accidents involving others.
- Personal Accident Cover for the Owner-Driver
Royal Sundaram offers a wide bike insurance cover, which covers Personal Accidents up to Rs. 15 lakhs for the owner-driver. This cover offers reimbursement for the medical expenses arising due to an accident. The sum insured will be claimed in case of death from an accident by the appointed beneficiary to support the owner-driver’s family in case of such tragic demise.
The coverage offered under Royal Sundaram Bike Insurance, along with its add-ons, is governed by the terms and conditions outlined in the policy wording. For a precise and comprehensive understanding of what is covered, please refer to the policy wordings.
After learning what is covered under the policy, it is time to know what is excluded from coverage as well. Let’s get to it.
What Is Not Covered Under Royal Sundaram Two Wheeler/Bike Insurance Policy?
Although Royal Sundaram has an extensive range of coverage it does lack assistance in some areas. Let’s see where this policy might not benefit you-
- No Coverage for Riding Without a Valid License
The policy does not cover accidents that occur when riding without a valid license. Damages or liabilities arising from such accidents are not covered.
- No Coverage for Riding Under the Influence
Riding under the influence of liquor or drugs is not covered. Any accident caused due to drunken driving is out of the coverage.
- Exclusion of Damage from Speed Testing or Racing
Damage occurring in the process of speed testing, organized racing or similar activities is not included in the policy. This is specifically excluded from coverage.
- Personal Property Damage Excluded
Damage caused to your personal property at the time of an accident will not be covered with third-party two-wheeler insurance as it will cover only third-party liabilities.
- Wear & Tear Not Covered
The policy doesn't cover ordinary wear and tear or maintenance of a vehicle. The policy only covers accidental damage or unanticipated events.
- Consequential Loss Not Included
Any indirect losses incurred due to the accident in the form of business interruptions, or any other connected consequences, are not covered by the policy.
These are general exclusions, and a more comprehensive list of exclusions specific to Royal Sundaram Bike Insurance can be found in the policy wording. For a detailed breakdown of what is not covered, including any specific conditions and exclusions, please refer to the policy wording.
How To Buy Royal Sundaram Two Wheeler/Bike Insurance Policy from SMC?
If you are all set to buy a Royal Sundaram policy, all you have left to do is just follow these simple steps mentioned below-
- Visit the official website of SMC.
- Go to the two-wheeler insurance section under the “General Insurance tab”.
- Enter your vehicle registration number. Alternatively, you can proceed by providing details like your bike’s brand, model, fuel type, variant, and RTO, instead of the registration number.
- Fill in the required details on the screen, including whether the vehicle is owned by an organization.
- You will then be directed to the Quotes page, where you can view various quotes from different insurers.
- Choose your preferred plan from Royal Sundaram, select any additional add-ons you need, and complete the payment.
- Make sure to receive the payment acknowledgement and the policy documents for your reference.
Already have a policy but are stuck in the process of renewing it? Keep scrolling to have your questions answered!
How To Renew Royal Sundaram Two Wheeler/Bike Insurance Policy from SMC?
You can easily renew your Royal Sundaram policy through SMC. Here are the steps for you to follow-
- You will receive a renewal link via email and text message as the renewal date is close by.
- Click on the link sent by SMC Insurance, which will redirect you to the insurer's portal.
- Enter your policy number and provide the required details.
- If needed, you can make adjustments or edit your current information (this step is optional).
- Review the policy details you've entered.
- Proceed with the payment using an online payment method.
- The insurer will send a confirmation message to the email address and registered mobile number you provided upon successful payment.
- Your registered email address will receive a PDF copy of your renewed policy.
Ready to claim your policy? Wondering how to do it? Scroll further to know!
How To Claim Royal Sundaram Two Wheeler/Bike Insurance Policy from SMC?
Just follow these simple steps and claim your Royal Sundaram insurance policy-
- You can visit SMC’s official website to submit your claim request.
- SMC’s team will collect all the necessary personal information and details about the issues you’ve faced.
- The information will then be passed on to the insurer for further processing.
- The insurer reviews the claim request, checks documents, and approves cashless treatment, if possible.
- You will be informed of the decision made by the insurer and then guided through the further procedure for the settlement of your claim.
- Outstanding requirements, if any, will be brought to your attention and reported to the insurer again.
- After processing, you will receive a notification that your claim is approved, whether for cashless treatment or reimbursement.
How Can SMC Help You To Settle A Claim?
SMC has efficiently helped over 2.04 million claims and has established itself as a credible partner in the claims settlement process. SMC gives you a step-by-step guide that allows you to know about the process undertaken in the claim settlement and also lets you know about the paper requirements. It provides you support all day long on queries related to claim settlement.
Assisting you through the claims procedure, SMC will prove to be your best option if you want to make that process smoother. With SMC's help, you're sure to receive the kind of compensation you are actually eligible for with your two-wheeler Royal Sundaram insurance policy. Such cooperation would bring great convenience in what could otherwise prove to be a cumbersome process.
Documents Required To Claim Royal Sundaram Two Wheeler/Bike Insurance
To make your claim process hassle-free, make sure you have the right documents in hand. Here’s a list of the required documents for your Royal Sundaram policy-
- A duly signed claim form
- A copy of the driving license
- A copy of the Registration Certificate (RC)
- A copy of the insurance policy
- A FIR, in case the claim involves death or bodily injury
- The original repair estimate slip or repair invoice
Make sure that you provide all documents so that processing can take place without interruption. The documentation needed varies depending on the type of claim being filed, whether it’s for Own Damage or Third-Party Liability or comprehensive insurance.
Depreciation Rate For Different Parts Of Two Wheeler Insurance Policy
The insurer will compensate for the loss or damage to the insured vehicle, subject to a depreciation deduction based on the rates specified below for the parts that are replaced.
Components that are made of fibreglass
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30%
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Components that have rubber, plastic, nylon or tyre, tubes and batteries
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50%
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All other components which are made of glass
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NIL
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Depreciation Based On The Age Of The Vehicle In A Two Wheeler Insurance Policy
Let’s look at the depreciation percentage according to age of the vehicle-
Vehicle’s Age
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Percentage of Depreciation
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Not greater than 6 years
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NIL
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Greater than 6 years but lower than 1 year
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5%
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Greater than 1 year but lower than 2 years
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10%
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Greater than 2 years but lower than 3 years
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15%
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Greater than 3 years but lower than 4 years
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25%
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Greater than 4 years but lower than 5 years
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35%
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Greater than 5 years but lower than 10 years
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40%
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Greater than 10 years
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50%
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Winding It Up!
For Ravi, Blaze wasn’t just a bike—it was a symbol of freedom, adventure, and reliability. When the unexpected struck, Royal Sundaram Bike Insurance turned out to be the safety net that ensured Ravi could get back on the road, unburdened by financial stress.
Like Ravi, you deserve the freedom of riding without any worries. Royal Sundaram has wide-ranging coverage and custom-made add-ons. Therefore, it is the best companion for every journey and ensures that the moments you have on your bike are never interrupted. Whether you're a daily commuter or a weekend explorer, this insurance ensures that you can focus on the ride, not the risks. Ride with confidence, knowing your bike is in safe hands.
FAQs
One of the most reliable two-wheeler/bike insurance providers is Royal Sundaram. It provides a wide selection of two-wheeler insurance plans, all designed with comprehensive coverage and a hassle-free claims process. Additionally, it offers various add-ons that can be tailored to meet specific protection requirements.
Buy Royal Sundaram Two-Wheeler/Bike Insurance Policy at SMC's official website by clicking on the two-wheeler insurance tab. Further, enter your vehicle registration number or bike details, add the plan and add-on, and make the payment. Lastly, avail of the payment acknowledgement and get the policy documents.
The best type of policy varies with the level of coverage required for an individual. The comprehensive bike insurance is the most inclusive, which covers both damage to the vehicle and liabilities towards third parties.
One can visit SMC's website, and under the “General Insurance" tab, find a section called two-wheeler insurance, enter his or her bike details and then compare quotes and find a suitable policy.
Head to the Royal Sundaram General Insurance website and log in with your email and password if you’re already registered. If you’re a new user, click on "Sign Up for a New Account". Once you are logged in, navigate to the "Downloads" tab to download your bike insurance policy document.
The best bike insurer may depend on the coverage, customer service and claim settlement. Seek advice from an insurance advisor who will assess what you need as an individual, assess your budget and cover preferences before settling on a particular service.
Two-wheeler insurance cost can depend on the model, age, location, and whether it is third-party or comprehensive.
The bike insurance claim settlement ratio of Royal Sundaram stands at 98.33% for the FY 2023 - 2024 under the motor insurance claims.
Log on to your customer portal through the insurer's website. The policy details could be downloaded or viewed online after entering and logging into your account through your customer portal in the website of the insurance company under the 'Policy Documents' section.
The approximate claim settlement time at Royal Sundaram would be within 7 working days after the receipt of the last document, such as the consent letter or any final document. Please remember that the timeframe is dependent on the type of claim you opt for and the availability of documentation.