Riding a bike on the road increases the risk of various mishaps such as breakdowns, fires, accidents, and many more. Financial losses from repairs and possibly hospital stays may result from these situations. How do you guard against these monetary losses? Two-wheeler insurance is the response to your query. Bike or two-wheeler insurance is intended to compensate you for losses incurred while driving, such as collisions or injuries.
With popular insurance options floating on the market, Reliance General two-wheeler insurance and Tata AIG two-wheeler insurance are gaining traction among customers. Any of the insurers’ bike insurance offers financial security against both vehicle theft and third-party harm. Since each option has its own set of features and advantages, you should consider your needs and then choose the right two-wheeler insurance.
Let’s dig down to understand the differences between two-wheeler insurance by Reliance General and Tata AIG.
Comparison Between Reliance General Two-Wheeler Insurance and Tata AIG Two-Wheeler Insurance
Let’s understand the differences between Reliance General Two-Wheeler Insurance and Tata AIG Two-Wheeler Insurance.
|Parameters||Reliance General Two-Wheeler Insurance||Tata AIG Two-Wheeler Insurance|
|Claim settlement ratio (Incurred Claim Ratio- 2021-22)||75.57% (Motor Insurance)||74.51% (Motor Insurance)|
|Cashless Network Garages||8500+ Cashless Motor Garages||4000+ network garages|
|Personal Accident Cover||Rs. 15 lakhs||Rs. 15 lakhs|
|Add-on Covers||10+ Add-on Covers||8 Add-ons|
|Discount||Up to 75%||75%|
|Third-party Injury or Property Damage||Covered||Covered|
|No Claim Bonus||Up to 50%||Starting at 20% on your bike insurance premiums|
What is Reliance General Two-Wheeler Insurance?
Reliance General Insurance provides comprehensive and third-party liability two-wheeler insurance that shields the policyholder from monetary and legal obligations resulting from harm or loss done to a third party or their property in an automobile accident. In addition, it protects the policyholder against a broad range of events that could cause the vehicle to be lost or damaged, as well as personal injury from an accident.
The purpose of Reliance General Bike Insurance is to give owners of two-wheelers much-needed security against risks that cause monetary losses. The two-wheeler insurance by Reliance General provides coverage against a broad range of events that are out of human control as well as man-made and natural disasters.
Features and Benefits of Reliance General Two-Wheeler Insurance
The following are the salient features and benefits of two-wheeler insurance by Reliance General.
- Zero Paperwork- Online application processes are hassle-free and paperless for Reliance General’s two-wheeler insurance products. Going paperless not only makes the process easy but also results in saving a lot of time and resources. Online tools make it quicker and simpler to purchase and renew insurance products.
- Easy Renewal- After completing a few easy steps online, Reliance General offers a very easy renewal process. All you have to do to receive a quote is fill in a few details, like your vehicle’s registration number. The renewal of your bike insurance will be sent to your email address upon payment of the premiums.
- Quick Support- With its phone services, Reliance General provides support around the clock, including on holidays. Its customer service makes sure to help customers in a seamless way.
- Cashless Network Garages– Reliance General has partnerships with over 8,500 cashless garages nationwide. To take advantage of the cashless feature, look for a network garage in your neighbourhood. Additionally, you can use roadside assistance to have your bike towed to the network garage.
- Transparency and Safety- Transparency is ensured by the online process for purchasing, renewing, and claiming, and safe gateways are used to process premium payments. Transparency and complete disclosure are ensured by having all the information available online when purchasing the Reliance General two-wheeler insurance.
- Natural Disasters- Two-wheeler insurance by Reliance General covers losses or damages to your bike or scooter caused by earthquakes, lightning, floods, cyclones, and other natural disasters.
- Theft- Theft is covered by the Reliance General two-wheeler insurance. Your insurance provider will pay you a lump sum for the loss incurred if you file a claim in the event that your vehicle is stolen.
- Own Damages- It covers vehicle damage resulting from man-made disasters such as fires, explosions, riots, strikes, etc.
- Personal Accident (if opted) – Personal Accident insurance pays for disability or death resulting from an accident. By paying an additional premium, personal accident coverage can be obtained for the pillion rider as well as the driver of the vehicle.
Then, Let's Talk About Tata AIG Two-Wheeler Insurance
In addition to offering financial protection against accidents and third-party liability, Tata AIG Two-Wheeler insurance also offers protection against man-made events like riots, acts of terrorism, vandalism, and storms and cyclones. With two-wheeler insurance by Tata AIG, you can protect your bike from harm and avoid incurring additional costs from minor dings or scratches. With policies designed to keep you stress-free and your bike safe, Tata AIG provides quick and simple online bike insurance that is comprehensive, standalone own damage, and third-party.
To get additional protection for your bike, you can add any one of eight add-ons to your Tata AIG bike insurance.
Tata AIG Two-Wheeler Insurance: Features and Benefits
If you are still confused about whether to consider two-wheeler insurance by Tata AIG, then let’s take a look at its key features and benefits.
- Personal Accident Cover for the Owner-Driver
The owner-driver of a Tata AIG bike insurance is eligible for Personal Accident Coverage up to Rs. 15 lakhs. Any medical costs resulting from injuries sustained in an accident are covered under this coverage. In addition, the amount will be paid to the designated beneficiary in the event that the owner-driver dies as a result of the accident.
- Third-Party Liability
Bike insurance for third parties covers third-party liabilities, as does comprehensive bike insurance. Your bike is covered for any harm your vehicle causes to another person’s property, their death, or their bodily injury.
- Quick Online Process
Policyholders can purchase or renew their two-wheeler insurance online via the insurer’s website or mobile application. This simplifies the process of buying and renewing as well as giving the customer access to all information and insurance documents via a single channel.
- Discounts on Premium
Different discounts on insurance premiums are available to those who purchase or renew online insurance for two-wheelers. During the purchase or renewal of your two-wheeler insurance by Tata AIG, you can take advantage of additional discounts available online in addition to the No Claim Bonus, which gives annual discounts on the insurance premium for each year with no claims. This is so that the insurers can cut expenses by not using as much paper when bike insurance is purchased online.
- Cashless Network Garages
With 4000+ network garages spread across India, you can rest assured that your claims can be settled without any difficulty. Bring your vehicle to a network garage for a speedy cashless claim; whether it’s your daily commute to work or a long drive through uncharted territory, there will be a garage nearby ready to assist you.
- Depreciation Allowance
This add-on, also referred to as Bumper-to-Bumper Cover, NIL Depreciation, or Zero Depreciation, helps you avoid depreciation. Depreciation is subtracted from the claim amount when you file a claim for the replacement or repair of your bike’s parts, and the insurer will use this add-on to reimburse the depreciation.
- Return-to-Invoice Cover
This add-on assists you in receiving your vehicle’s invoice cost back in the event of theft or complete damage. You receive the bike’s current market value, or the insured declared value (IDV), in the event of total damage, constructive total damage, or theft.
- Emergency Medical Expenses
This add-on will assist you in receiving reimbursement for the costs associated with receiving medical care at any hospital or assisted living facility in the event that you or the pillion rider are hurt in an accident. The price of transporting you or the pillion rider to the hospital is also included.
- Consumables Expenses
It will cover the cost of replacing, replenishing, or repairing specific bike consumables in the event of an accident that causes damage to them or results in their loss.
- Roadside Assistance
When you purchase this add-on, the insurer will dispatch rapid breakdown assistance to handle a range of problems, including flat tires, dead batteries, fuel needs, mechanical and electrical repairs, etc.
What to Consider: Reliance General Two-Wheeler Insurance or Tata AIG Two-Wheeler Insurance?
When choosing between Reliance General Two-Wheeler Insurance and Tata AIG Two-Wheeler Insurance, it’s important to consider several factors to determine which insurance suits your needs best. If you are looking for bike insurance with a higher claim settlement ratio and cashless network garages, then considering Reliance General two-wheeler insurance could be an ideal choice. On the other hand, if you are looking for bike insurance with great customer support, then Tata AIG two-wheeler insurance can help you out!