- About Coverfox
Royal Sundaram Two Wheeler Insurance is a bike insurance policy offered by Royal Sundaram General Insurance (previously known as Royal Sundaram Alliance Insurance Company Limited), a joint venture of Sundaram Finance Limited.
The insurer was the first in the country to partner with banks for selling retail insurance products. With over 4.5 million customers, 2000+ employees and 156 branches across India, Royal Sundaram was the first insurer to introduce in-house Motor Assessors (IMAs). The different type of two wheeler insurance cover offered by Royal Sundaram are loss or damage to your two-wheeler, liability to third parties and personal accident cover
The main highlights of Royal Sundaram Two Wheeler Insurance Policy are:
|Claim Settlement Ratio||92.66% in FY20|
|Emergency Assistance||Available 24/7|
|Policies Issued||20.6 lakh+ in FY20|
|Number of Customers||45 lakh+|
|Property Damage under Third Party Insurance||Up to Rs 1 Lakh|
|Online Facility||Buy new or renew your two wheeler insurance policy online.|
|Long-term two wheeler insurance:||Covers your two wheeler for 2 or 3 years in a single policy.|
|Own Damage Cover||Determined by the IDV of the Two-Wheeler|
|Claim Settlement Assistance||24x7 Helpline Available for Claim Assistance|
|Personal Accident Cover||Up to Rs 15 Lakh|
Royal Sundaram General Insurance offers two types of two wheeler insurance, third party and package policy. Below are the details of both the coverage options for insuring your vehicle
Royal Sundaram two wheeler Insurance covers total or partial loss/ damages to your bike due to:
For every claim-free year, Royal Sundaram Insurance offers you a discount on your own-damage premium.
The following table shows the NCB grid:
|One claim-free year|
|Two consecutive claim-free years|
|Three consecutive claim-free years|
|Four consecutive claim-free years|
|Five consecutive claim-free years|
Deductible is an amount that you promise to pay when your vehicle is damaged due to an accident or any other event and a claim is lodged. Voluntary deductible plays an important role in determining your two wheeler insurance premium. Higher the deductible, lower the premium and vice-versa. If you think you are a safe and cautious rider, you should opt for high amount of voluntary deductible.
If you've installed an ARAI approved anti-theft device in your vehicle, then you are eligible for an additional discount up to 2.5% on your own-damage premium.
You get a 5% (or max up to Rs.50) of discount on own damage premium if you are a member of any Automobile Association of India.
The formula for calculating the final premium is,
FINAL PREMIUM = (Own Damage Premium – No claim bonus) + Liability Premium
For calculating the two-wheeler insurance premium, and other insurance deliverables, visit the official website of the insurance provider and on the home page select “Insurance” and then, “Two wheeler insurance.”
Then select the appropriate window from “Other company renewal,” “same company renewal” or “new two-wheeler renewal.” Input all the relevant information as prompted by the screen. Some companies give you the option of a “Personal Accident cover” for the owner-driver.
The premium for your two-wheeler depends upon the type of policy you select. For two-wheeler third-party insurance policies, rates are defined by the https://www.irdai.gov.in/ and are revised every year. These rates are based on the cubic capacity of the two-wheeler.
However, if you select a comprehensive two-wheeler insurance then multiple factors like the Insured Declared Value, Own Damage premium, date of registration, age of the vehicle, registration city, etc. Once you input all the data, the calculator displays the insurance premium applicable for your car.
The online renewal process is straightforward and takes little time. Given below are the steps you need to follow to renew your bike insurance online:
Royal Sundaram Company ensures 24*7 customer support with an excellent claim settlement process. Royal Sundaram has around 3300+ network garages all over India to help you in cashless claim settlement process. In fact, Royal Sundaram was the first to start with cashless claim settlement services for their customers. And since then they have had a robust base of faithful customers across the country. The two wheeler insurance premiums are pocket friendly, and you can easily buy insurance online instantly. Moreover, provide a cover to your two-wheeler for a long-term either for 2 or 3 years in a single policy and stay worry-free. If you are looking for a trustworthy brand that has PAN India base to support you at the time of claims, Royal Sundaram is a must-go insurance provider.
The two-wheeler insurance policy from Royal Sundaram has some exquisite features that make it approachable by the customers. The features are the following:
Online policy: The policyholders can buy or renew their policy online.
Long term plans: The two-wheeler insurance policy offers a cover of 2 to 3 years.
Network garages: It provides cashless repair and replacement services at more than 3,300 network garages.
Quick claim settlement: It offers a hassle-free settlement of the claim.
Following are the factors that determine the premium paid by the policyholder for an insurance policy:
IDV (Insured Declared Value).
Place of registration.
Cubic capacity of the vehicle.
Age of the vehicle
Royal Sundaram is one of the most reputed names in the insurance industry. You can take a policy with a coverage of 2 to 3 years from it. It featured an excellent claim settlement ratio of 92.66%. It claims to settle down the claim request within 10 working days. The customer support is available 24x7 to solve all your problems.
Life is uncertain and an accident will never knock before arriving. It is important to be prepared for an unfortunate event in advance. An insurance policy will cover you against various legal as well as financial liabilities arising out of those unforeseen events. No matter if you have a basic or a luxury bike, being covered is important.
To seek any details about the insurance policy you can refer to your policy document or contact the customer support assistants by calling the toll-free number 1800 209 9960. They are 24x7 available for the service.