United India Bike Insurance

United India Insurance Company (UIIC) is a public sector insurance company in India that is completely owned by the Government. It was incorporated on 18th February 1938 and later nationalized in 1972. It has pioneered in designing and implementing complex policies including bike insurance and many others, which cater to corporate as well as rural needs. Previously, UIIC operated as a subsidiary of General Insurance Corporation of India (GIC) till it transformed into a reinsurance company under IRDA Act 1999.

The four primary subsidiaries of GIC, namely National Insurance, New India Assurance, Oriental Insurance and United India Insurance became autonomous. Later on, Twelve Indian insurance companies, four co-operative insurance societies, five foreign insurers merged to form United India Insurance Company which holds the potential to offer bike insurance, car insurance, health insurance and several other insurance products. Recently there was an announcement of a merger of United India Insurance Company with Oriental Insurance and National Insurance company on 2nd February 2018.

United India has its headquarters located in Chennai and it has spread its network of 1,340 offices all over India with an enthusiastic and competent workforce of 18,300 people with which it serves bike insurance and other insurance products to people across the nation. United India Insurance Company is the second-largest insurance company in terms of bagging a huge Gross Domestic Premium for the Financial Year 2018-19 of Rs. 16,385 Cr by serving people with bike insurance and other insurance plans.

United India Bike Insurance

United India Insurance Company is a public sector insurance provider. The insurance company is known for being reliable and providing reasonable insurance rates for its extensive customer base. United India offers three basic types of two-wheeler insurance for its customers. These include third party insurance, standalone own-damage insurance and comprehensive insurance. Third party insurance is obligatory for every two-wheeler in India according to the Indian Motor Tariff. Moreover, if caught without it you can be punished with heavy fines of Rs 2,000 and/or imprisonment for up to 3 months. To protect your own two-wheeler you can purchase a standalone own-damage cover. This insurance cover will compensate the policyholder for the cost of the damage to their bike in case of a mishap. Additionally, the policy covers a wide variety of scenarios including natural and manmade calamities, road accidents, theft, fires and vandalism. However, if you’re looking for the most hassle-free option purchase a comprehensive two-wheeler insurance plan. This will cover both own-damage costs and third party liabilities in the event of a mishap.

United India also offers a number of add-on covers that you can purchase to further strengthen your standard car insurance policy. Some useful add-ons include the zero depreciation cover, the consumables cover, the passenger assistance cover and the roadside assistance cover. When selecting add-ons make sure to do your research, the right add-ons can make your claim amount significantly higher.

United India offers its customers an extremely user-friendly way to purchase and renew their insurance policies online. Moreover, with every own-damage cover, they offer no claim bonus for claim-free years. This reward is given by the insurance provider as a token gesture for the policyholder’s good driving habits and can go up to 50% in the fifth consecutive year.

Significant Points of United India Bike Insurance