National Insurance Two Wheeler Policy Introduction
National Insurance Company Limited is a leading Public sector Insurance Company in India. National Insurance Company Provides you more than 200 policies, it is providing almost all required policies to Indians. National Insurance Company Limited has 1000 offices and 16,000 employees across India to serve its customers.
To get National Insurance Motor Insurance, the owner of the vehicle must be a registered owner to the vehicle where he or she wants to benefit by the safety of the vehicle. National Insurance Two wheeler Policy covers the loss caused due to damage of vehicles used for social, domestic and for professional purpose.
National Insurance Two Wheeler Policy key Features and Benefits
- National Insurance Two wheeler Policy Covers the loss caused due to damage of your Two Wheeler.
- It provides additional coverage for loss of accessories.
- It provides the Legal liability to paid driver.
- It also provides you personal accident coverage.
- You can get a coverage up to Rs.7.5 lakhs for property damage of third-party.
- It provides No Claim Bonus(NCB) facility for Claim free Experience.
- It provides you an additional coverage for anti theft devices installed in your vehicle.
- The motorcycle policy can be purchased online using debit card/credit card.
- You can renew your policy through online.
National Insurance Two wheeler Policy Coverages
National Insurance Two Wheeler Policy provides you two types of coverages they are,
- Liability Only Cover.
- Package Cover.
Liability Only Cover:
It Insures you against any legal liability to your vehicle, if your vehicle involving in an accident. It does not cover any damage to your vehicle.
This policy covers the following risks only.
- Injury or Death of Third Party.
- It Covers the loss caused due to property damage of third-party up to Rs.7.5 lakhs.
- It covers the Loss caused due to damage of your vehicle.
- It provides you third-party coverage as well as damage caused to your own vehicle.
- It also Provides you coverage facility for co-passengers.
This policy covers Own Damage to the Insured vehicle caused by:
- Accident by External Means Fire, Explosion, Self Ignition and Lightning.
- Transit by Road, Rail, Inland Waterway, Air, Lift.
- Burglary, Housebreaking or Theft.
- Terrorism, Riots, Strikes or Malicious Acts.
- Earthquake, Flood, Storm, Landslide, Rockslide.
National Insurance Two wheeler Policy Exclusions
- It does not cover the loss caused to your vehicle outside the geographical area.
- Generally annual policy is issued but there is an exception like long-term two-wheeler policy which continues till the fitness of the vehicle is valid according to RTA.
- It does not cover the loss caused to your vehicle due to usage of your vehicle in an unauthorised manner like, for racing, hiring, speed testing.
- It does not cover the loss caused to your vehicle, when driving the vehicle under the influence of alcohol or drugs
- It does not cover the wear and tear loss.
- It does not cover the consequential loss.
- It does not cover the loss due to mechanical or electrical breakdown failures or breakages.
- Damage to tyres unless the motor vehicle is damaged at the same time when the liability of the insurer is limited to 50% of the cost of replacement.
- It does not cover the loss due to failure of car parts which led to any accident.
- Loss or damage to accessories by burglary housebreaking or theft unless the vehicle is stolen at the same time.
For more information regarding Tax Benefits, visit www.taxqueries.in.
Additional coverages available under National Insurance Two Wheeler Policy
Third party liability coverage:
- It Covers the loss up to 7.5 lakhs in case of third-party property damage or death / bodily injury of third-party.
- It Covers the death or bodily injury to any person including occupants carried in the insured vehicle.
- It Covers damage to property other than property belonging to the insured or held in trust or in the custody or control of the insured.
No Claim Bonus(NCB):
No Claim Bonus(NCB) is the additional discount available on the premium of the own damage of your vehicle.
Discount on anti theft devices:
You can get a discount of up to 2.5% on ARAI(automobile research association of india) approved anti theft devices.
Voluntary higher excess:
The excess on a two wheeler insurance policy is a fixed contribution that you, as the policyholder, will have to stump up in the event of a claim.
Personal Accident Coverage:
The Company Will pay the Compensation for bodily injury or death of the owner / driver of the vehicle.
The Rate of Compensation under personal accident coverage is given below table
|Nature of Injury||Scale of Compensation|
|Loss of two limbs or sight of two eyes or one limb and sight of one eye||100%|
|Loss of one limb or sight of one eye||50%|
|Permanent total disablement from injuries other than named above.||100%|
Rate of depreciation in National Insurance Two wheeler Policy
For all rubber / nylon / plastic parts, tyre and tubes batteries and air bags – 50%.
For fiberglass components – 30%.
For all parts made of glass – NIL.
Rate of depreciation for all other parts including wooden parts will be as per the following table:
|Age of Vehicle||% of depreciation|
|Not exceeding 6 months||NIL|
|Exceeding 6 months,but not exceeding 1 year||5%|
|Exceeding 1 year but not exceeding 2 years||10%|
|Exceeding 2 years,but not exceeding 3 years||15%|
|Exceeding 3 years,but not exceeding 4 years||25%|
|Exceeding 4 years,but not exceeding 5 years||35%|
|Exceeding 5 years, but not exceeding 10 years||40%|
|Exceeding 10 years||50%|
Sum Insured Declared value(IDV):
The IDV of the vehicle is fixed based on manufacturers listed selling price of the brand and model.
Depreciation for fixing the IDV of the vehicle in National Insurance Two Wheeler Policy:
|Age of the Vehicle||% of depreciation for fixing IDV|
|Not exceeding 6 months||5%|
|Exceeding 6 months but not exceeding 1 year||10%|
|Exceeding 1 year but not exceeding 2 years||15%|
|Exceeding 2 years but not exceeding 3 years||30%|
|Exceeding 3 years but not exceeding 4 years||40%|
|Exceeding 4 years but not exceeding 5 years||50%|
National Insurance Two Wheeler Policy Buying Procedure
You can buy National Insurance Two Wheeler Policy by giving required information
- Select State
- Select District
- Select pin code
- Select office
- Vehicle registration state
- vehicle type
- vehicle class
- Body type
- Cubic Capacity
- Registration location
Claim Process Involved in National Insurance Two Wheeler Policy
If you have met with an accident you have to follow the below steps in National Insurance Two Wheeler Policy claim process:
- Note down the number of the vehicle involved in the accident,if any.
- Note down the name and contact details of the witness,if any.
- You can contact to National Insurance Company by its call center number 18001201430.
- Fill the National Insurance Two Wheeler Policy Claim Form.
- Submit Claim Form to the National Insurance Company Regional Office, which is nearer to you.
- The Company Surveyor Will Survey the damage of your insured vehicle.
- You have to submit required documents to the Surveyor.
- The surveyor will verify the details of your vehicle.
- After verifying and calculating the % of depreciation they will settle the bill, in case of excess amount you have to pay the excess amount.
Documents Required In National Insurance Two Wheeler Claim Process
For Accident Claims:
- Duly signed claim form.
- Copy of the RC book.
- Copy of the driving license.
- Copy of the first two pages of the policy.
- FIR on case to case basis.
- Original estimate.
For Theft Claims:
- Duly signed Claim form.
- Copy of RC book.
- Copy of driving license.
- Policy Copy.
- Original FIR copy.
- Estimated cost of replacement.
- C.R.Diary number.
For Third party Claims:
- Duly signed Claim form.
- Police FIR copy.
- Driving license copy.
- Policy copy.
- RC copy of the vehicle.
- Full details of property damaged.
National Insurance Two Wheeler Premium and Maturity Calculator
By using National Insurance Two Wheeler Insurance Premium Calculator you can calculate the minimum premium that has to be paid to take National Insurance Two Wheeler Policy. It allows you to select the best scheme. The premium is calculated on the basis of the following details
- IDV of the vehicle.
- Cubic capacity of the vehicle.
- Zone of registration.
- Age of Vehicle.
National Insurance Company Customer Care Details
Telephone number: 22831705 / 22831706.
Call center number: 0866 257 8586.
3 Middleton street,
Pin code: 700071.
FAQ’s on National Insurance Two Wheeler Policy
1.Can I buy Two Wheeler Insurance Policy Online?
Ans: Yes, you can buy Two Wheeler Insurance through online by using credit card/debit card.
2.Can I renew my Policy through online?
Ans: Yes, You can renew your policy through online by simply visiting niconline.in.
3.Is policy necessary for two Wheeler?
Ans: Yes, You have to take policy for two-wheeler, according to motor vehicle act every vehicle on the road should have insurance policy.