National Insurance Two Wheeler
- No Inspection Needed
- Immediate Policy Issurance
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About National Insurance
National Insurance Company Ltd. (NIC) is one of the oldest general insurance companies in India, which offers bike insurance plans and other related insurance covers. It was incorporated in 1906, but after nationalisation in 1972, it underwent a merger with 21 foreign and 11 Indian companies and became one of the subsidiaries of the Government-owned Insurance Corporation of India. It was the first insurance company to form a strategic alliance with the largest automobile manufacturer M/S Maruti and two-wheeler major M/S Hero Moto Corp and many others. This collaboration helped to gain the trust of different client bases.
National Insurance company is the first public sector insurance company to introduce tailor-made insurance plans for rural and corporate sectors. It offers a variety of insurance policies ranging from Personal Insurance, Health Insurance, Bike Insurance, Car Insurance, Rural Insurance, Industrial Risk Insurance, etc. It has always followed up with the progressing age and has now gone digital. One can now easily apply or renew insurance policies of NIC online. In simple terms, all the processes like registering, buying and renewing of the insurance can be done online without any hassle.
As per its Gross Direct Written Premiums (GDWP), National Insurance stands as the second-largest non-life insurance company which offers bike insurance and other similar plans. National Insurance enjoys a B++ rating by A.M. Best financial strength and issuer credit rating of "bbb+". These ratings depict the strong risk-adjusted capitalization, consistent investment performance and strong presence of National Insurance in India's insurance market.
National Insurance Two Wheeler Insurance Policy
National Insurance Company Limited is a reputed state-owned insurance provider. They offer three basic types of two-wheeler insurance including third party insurance, standalone own-damage insurance and comprehensive insurance. Purchasing third party insurance for your two-wheeler is compulsory in India according to the Motor Tariff. If caught without valid third party insurance you can be punished with a fine of Rs. 2,000 and/or be imprisoned for up to 3 months. On the other hand, the standalone own-damage covers are not compulsory. They take care of the policyholder’s two-wheeler damage in case of a mishap and offer compensation for a wide array of scenarios. This includes road accidents, theft, vandalism, fires and natural calamities. The third type of insurance is a comprehensive plan. This type of plan offers a complete package for both own-damage and third party liabilities under a single premium.
There are also add-ons that can be purchased along with own-damage covers to further expand the coverage of your two-wheeler insurance. These add-ons are optional allowing the insurance holder to build their policy to suit their individual needs. If selected correctly these add-ons can make a significant difference at the time of claim settlement. Some important add-ons that you should definitely consider include the zero depreciation cover, the consumables cover, the passenger assistance cover and the engine safe cover.
National is a reliable insurance provider who offers their customers quick and efficient assistance at the time of claim processing. Moreover, they offer NCB with every own-damage cover where the reward goes up to 50% in the fifth year.
Significant Points of National Two Wheeler Insurance
Third Party Insurance Property Damage
Up to Rs. 1 lakh
Own Damage Cover
Determined by the IDV of the two-wheeler
Personal Accident Cover
Up to Rs. 15 lakhs
What is Covered in National Insurance Two Wheeler Insurance Policy?
The National Insurance Two Wheeler Insurance Policy offers comprehensive coverage to protect you financially against various unforeseen events. Here are the details of the coverage provided:
1. Third-Party Liability Coverage:
- This coverage protects you against the financial liabilities that may arise due to damage caused to a third-party person or property.
2. Own-Damage Coverage:
- The policy covers the financial liability arising due to loss or damage to your insured bike
3. Natural Calamities Coverage:
- It provides coverage against natural calamities such as cyclones, earthquakes, hurricanes, and so on.
4. Man-Made Calamities Coverage:
- The policy also covers man-made calamities like strikes, riots, etc.
5. Personal Accident Cover:
- A personal accident cover of up to INR 15 lakhs is provided for the owner cum driver, which covers accidental death and disability.
6. No Claim Bonus:
- If you do not make a claim during the policy period, you can avail a No Claim Bonus which ranges from 20% to 50%.
7. Additional Coverages (Optional):
- You may also opt for additional coverages or add-ons to enhance your protection, though these will increase the premium.
The premium cost for a comprehensive two-wheeler insurance policy is generally higher due to the extensive coverage provided. It's designed to offer a sense of security to the policyholder by covering a wide range of risks.
What is Not Covered in National Insurance Two Wheeler Insurance Policy
The National Insurance Two Wheeler Insurance Policy does not cover the following:
1. Claims arising out of a contract.
2. Normal wear and tear of the vehicle.
3. Damage or loss caused to the vehicle by a person driving under the influence of alcohol or drugs.
For a more detailed list of exclusions, it's advisable to check the policy document or contact the insurance company directly.
How to Renew National Insurance Two Wheeler Policy?
- Visit the National Insurance official website.
- Login to your account with your credentials.
- Go to the Renewals section, and enter your policy details.
- Review the policy details and premium amount.
- Choose any additional covers or add-ons if needed.
- Make the payment online through the available payment methods.
- Download and print your renewed policy document.
- You'll also receive the renewed policy document on your registered email ID.
Make sure to renew your policy before its expiry to enjoy continuous coverage.
How to Claim National Insurance Two Wheeler Policy?
Claiming your National Insurance Two Wheeler Policy involves a few steps:
- Inform the insurer as soon as the incident occurs.
- File an FIR at the nearest police station if required.
- Fill out the claim form provided by National Insurance, and attach the necessary documents.
- Submit the form and documents to the nearest National Insurance office or online.
- A surveyor will assess the damages and approve the claim amount.
- Submit repair bills to the insurer post-repair.
- The insurer will disburse the claim amount.
For a hassle-free claim process, ensure you have all the required documents and follow the insurer's instructions diligently.
Documents Required to Claim National Insurance Two Wheeler Policy
To claim your National Insurance Two Wheeler Policy, you'll likely need the following documents:
1. Claim Form: Duly filled and signed.
2. Police Report/FIR: In case of theft or accident involving third parties.
3. Driving License: Of the person riding the bike at the time of the accident.
4. Registration Certificate (RC): Of the insured two-wheeler.
5. Policy Document: Copy of your insurance policy.
6. Repair Bills: If repairs have been carried out.
7. Medical Bills: If there were injuries.
Make sure to check with National Insurance for any additional documents or specific requirements they may have for the claim process.
Benefits of National Bike Insurance
- 24x7 emergency assistance is available
- An extensive network of 3,100+ garages
- Digital insurance process for paperless system
- Allows policyholders to make unlimited claims
- Offers around 300 insurance products and services
Explore National Bike Insurance
Must Read Articles before buying National Bike Insurance
- Have a Look at this article to take note of the things that you should consider when renewing bike insurance.
- Two Wheeler Insurance Expired? What to do if your two-wheeler insurance has expired? What Happens If You Don’t Have a Two-Wheeler Insurance? Know more
- Learn easy steps to renew expired bike insurance online. An expired policy leads to fines and legal charges. Thus, it is wise to get your policy renew
National Bike Insurance User Reviews
- Most Helpful
- Zero Depreciation
- Third Party
- Own Damage
- Cashless Garages
- Policy Download
- Customer Care
- Add On
National Insurance Two Wheeler FAQs
What are the types of two-wheeler insurance offered by National General Insurance?
Two-wheeler insurance can be categorized into three types – Standalone Own Damage Insurance, Comprehensive two-wheeler insurance, and Third party two-wheeler insurance. Having a third party two-wheeler insurance is mandatory by law as it covers against the damages caused to the third party. A standalone own damage policy provides coverage against all damages incurred by the insured’s two-wheeler. Whereas, comprehensive two-wheeler insurance provides coverage for both third party and the own-damages suffered by the insured’s two-wheeler.
How can I apply for a National insurance two-wheeler policy?
Other than the traditional medium of visiting the branch, you can apply for a two-wheeler policy with National Insurance by dialling on the toll-free number 1800-345-0330. Or else you can apply online on their official website for a quick hassle-free procedure.
What are the exclusive benefits of buying National two-wheeler insurance?
National insurance serves as a low-cost insurance plan with personalization. It provides a no claim bonus which can be transferred to other insurers. Claiming insurance is easier and even the status of the claim can be tracked online.
What is the maximum amount of compensation provided under National Third Party Two-Wheeler insurance policy?
Under National Third Party Two-Wheeler insurance policy a maximum of 7.5 lakh is provided for third party property damage. In the case of third party bodily injuries/death, the amount of compensation is decided in a court of law.
How can I get more information about insurance plans offered by National General Insurance?
You can get all the information regarding two-wheeler insurance policy on the official website. If you want more clarity then you can call on the toll-free number 1800-345-0330.
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