Royal Sundaram Motor Insurance Company

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Royal Sundaram Motor Insurance Plans

About Royal Sundaram General Insurance Company Limited

Royal Sundaram General Insurance Company Limited is the first general insurance company in the private sector in India which was licensed by IRDA in October 2000. It was formally known as Royal Sundaram Allianz Insurance Company Limited and was promoted as a joint venture by one of India’s most respectable non-banking financial institutions, Sundaram Finance and other Indian shareholders. Royal Sundaram General Insurance Company is owned by Sundaram Finance, Ageas Insurance and other Indian shareholders holding 50%, 40% and 10%, respectively.

Royal Sundaram General Insurance Company provides innovative and customised insurance products to families, businesses, and individuals directly as well as through affinity partners and intermediaries. The company offers a range of insurance solutions in the retail segment and risk-specific insurance products in the commercial space like marine, fire, liability, engineering and business interruption insurance plans. Moreover, the company also offers specially customised and designed insurance solutions to rural individuals and Small & Medium Enterprises.

Key Highlights of the Royal Sundaram Company

Royal Sundaram General Insurance has a wide distribution channel and its products are distributed to its customers through various distribution partners, brokers, channel agents, and affinity partners and can also be brought online. Not only this, the company is also a pioneer in bancassurance in India with long-standing tie-ups with NBFCs and reputed banks. Some key highlights of the company are as follows:

Number of employees 2,000 employees across India
Number of branches 150 branches across India
Number of customers 28 million customers

Awards and achievements of Royal Sundaram General Insurance Company

Royal Sundaram is one of the fastest-growing and renowned insurance companies in India. In its continuous endeavour to become a one-stop solution for its customers in the insurance sector, the company has received various awards and has been recognised many times at various events. Some of the awards and achievements of the company are as follows:

  • Royal Sundaram was awarded the ‘Best BFSI Award of 2021 in Economic Times Best BFSI Brands 2021.
  • The company won the ‘ET Award for Prompt G.I Compact Category in the Health Segment.’
  • It is the first private insurance company to have tie-ups with reputed banks for selling its retail insurance products and offering co-branded credit cards.
  • The company received the “Celent Model Insurer Asia Award’ in 2014 and 2013 for creating an intelligent claim management system.

Key Features of Royal Sundaram Motor Insurance Policy

Royal Sundaram motor insurance policies offer comprehensive coverage providing all-around protection to your vehicle. It bears third-party liabilities and repair costs of your vehicle and also pays a lump sum in case of theft to help you buy a new vehicle. The coverage benefits of a motor insurance policy depend on the type of policy that you buy. Moreover, Royal Sundaram provides the benefit of enhancing the coverage of the policy through add-ons by paying a minimal premium. Let us have a look at the coverage benefits of the Royal Sundaram motor insurance policy:

  • Third-party damages: The policy covers financial liabilities and damages to a third party or their property in an accident involving the insured vehicle. It also includes legal liabilities arising due to the accidental death of a third party.
  • Own-damages: Your vehicle might also suffer damages in an accident which is not covered in the third-party liability-only policy. Royal Sundaram’s comprehensive motor insurance policy covers damages or losses suffered by the insured vehicle in an accident.
  • Man-made disasters: The company will indemnify against damages or losses to insured vehicles due to man-made disasters such as burglary, theft, housebreaking, strike, riots, etc.
  • Natural disasters: Motor insurance policy also covers natural disasters such as floods, cyclones, hurricanes, etc. In case of damage due to man-made disasters, the repair cost would be covered under the plan.
  • Loss while in-transit: Loss or damage suffered in transporting the vehicle from one place to another by road, rail, lift, inland, waterway, elevator or air are also covered.
  • Personal accident cover: Personal accident cover is for owner-driver in which a lump sum amount of up to Rs. 15 lakhs for accidental death or permanent total disablement due to an accident is paid by the insurer. Personal accident cover can be extended to the passengers too.
  • Fire: Motor insurance policy covers partial or total loss of the vehicle due to fire, explosion or lightning.

Exclusions under Royal Sundaram Motor Insurance Policy

There are certain events which are not covered in motor insurance policies. Such events are known as common exclusions. There are certain exclusions under the Royal Sundaram motor insurance policy in which no claim would be paid by the insurance company. Some of the common exclusions of Royal Sundaram motor insurance plans are as follows:

  • Driving the vehicle without a valid driving licence
  • Driving the vehicle under the influence of alcohol or drugs
  • Driving the vehicle outside the geographical location of India
  • Using the vehicle against its limitations of use
  • Using the vehicle for illegal/criminal purposes or hazardous activities
  • Electrical or mechanical breakdown of the vehicle
  • Depreciation and general ageing of the vehicle
  • Normal wear and tear
  • Losses due to war, mutiny or nuclear risk
  • Losses which are not a direct result of an accident (also known as consequential losses)
  • Losses or damages suffered when the policy is in a lapsed state.

Types of Royal Sundaram Motor Insurance Policy:

Royal Sundaram General Insurance offers car and two-wheelers insurance policies. With a Royal Sundaram motor insurance policy, you can secure yourself from the risk of financial loss in times of crisis. You can buy a Royal Sundaram comprehensive motor insurance policy to ride your vehicle with peace of mind and 100% safety.

1. Royal Sundaram Car Insurance

Royal Sundaram shields your car from unforeseen events and protects it against damages or losses due to accidents or theft. You can also customise your car insurance policy through add-ons. Add-ons help boost your car’s protection with just a minimal increase in premium cost. Royal Sundaram General Insurance offers two types of car insurance policies i.e. standalone own-damages car insurance policy and comprehensive car insurance policy. The coverage benefit depends on the type of car insurance policy that you buy. Types of Royal Sundaram car insurance plans are as follows:

Type of Insurance Features
Standalone own-damage car insurance plan Standalone own-damage car insurance covers damages or losses suffered by a vehicle on account of theft or accident. It covers the cost of repair of your car in case of damage due to an accident and pays a lump sum amount in case of theft. You can buy a stand-alone own-damage car insurance policy only if you already have a valid third-party liability insurance policy as mandatory under law.
Comprehensive car insurance plan A comprehensive car insurance policy covers third-party liabilities, own damages and theft, all in one. It not only fulfils the legal mandate of buying third-party car insurance but also provides coverage offered under a standalone own-damage car insurance policy.

2. Royal Sundaram Two-wheeler Insurance

Two-wheeler insurance in India, besides the legal requirement, provides considerable financial security to bike owners. Royal Sundaram two-wheeler insurance offers comprehensive and customised coverage based on individual insurance requirements. It covers injury caused to passengers- drivers or damages caused to bikes due to theft, natural disasters and accidents. It also covers third-party liabilities and damages under a comprehensive two-wheeler insurance policy. Royal Sundaram General Insurance offers the following two types of two-wheeler insurance:

Type of Insurance Features
Standalone own-damages two-wheeler insurance plan Standalone own-damages two-wheeler insurance policy covers losses or damages to insured vehicle or its accessories due to an accident, natural or man-made disasters and in-transit loss. However, it does not cover third-party liabilities for which you would have to buy third-party liability-only two-wheeler insurance separately.
Comprehensive two-wheeler insurance plan A comprehensive two-wheeler insurance policy benefits both third-party liability and standalone own-damages insurance policy. It covers the insured vehicle and its accessories against damages caused in an accident, third-party liabilities and theft.

How to buy Royal Sundaram Motor Insurance Policy?

Royal Sundaram motor insurance policy can be brought both offline and online. The company has a wide distribution network to reach its customers through affinity partners, intermediaries and digitally-enabled services. Royal Sundaram motor insurance policy can be brought through PayBima’s website. PayBima is a digital platform that provides a quick and hassle-free process for buying a suitable motor insurance policy. With PayBima, you don’t have to worry about the hassle of documentation, as the entire process of buying a Royal Sundaram motor insurance policy through PayBima is paperless. Follow the steps to buy motor insurance through the PayBima website:

Step-1: Visit PayBima Website: Visit the official website of PayBima or simply click on www.paybima.com. Then select motor insurance and choose the type of motor insurance policy you want. Royal Sundaram General Insurance offers both a comprehensive motor insurance policy and a standalone own-damages insurance policy.

Step-2: Provide a few details: After selecting the type of insurance policy, provide the details about your vehicle such as registration number, year of manufacture of the vehicle and its make and model. Certain personal details such as your name, contact number and location would also be required to be filled in. PayBima would then offer you a quote according to your details. You can also avail of personalised assistance from PayBima to help you in selecting a suitable motor insurance policy for your vehicle.

Step-3: Compare the available plans: A list of available motor insurance plans which suits your insurance requirements will be displayed on the screen. You would find Royal Sundaram motor insurance policies in the list along with motor insurance plans of other renowned insurance providers. You can compare the insurance policy that you have selected from other leading insurance plans available in the market based on coverage benefits and premium costs.

Step-4: Fill & sign a proposal form: After finalising the policy, fill out a simple online proposal form and submit it to the insurance company. A proposal form is an application made to the insurance provider to issue the insurance policy. Submit soft copies of other relevant documents along with the proposal form. The entire process is paperless.

Step-5: Pay the amount of the premium: The final step is the payment of the premium. Once all the documents and the form are submitted, just pay the premium and your motor insurance policy will be issued instantly.

You can also buy the Royal Sundaram motor insurance policy offline by visiting the nearest branch office of the company.

How to Renew Royal Sundaram Motor Insurance Policy

A motor insurance policy provides lifelong renewals. They have a fixed tenure and should be renewed within the prescribed due date to enjoy uninterrupted coverage. Further, Royal Sundaram offers a grace period of 30 days from the due date to renew your motor insurance policy, failing which the coverage benefits under the plan will cease. You would no longer be covered by insurance, and your no-claim bonus would also expire. You would have to bear all the costs, losses and damages that arise when the policy is in the lapsed state. Hence, keeping a reminder to renew your policy within the due date is suggested.

You can renew your motor insurance policy through the PayBima website. All you need to do is fill in your insurance policy number on the website of PayBima and pay the renewal premium. You can also review the coverage benefits and details of your existing insurance policy at the time of renewal. If you want to enhance the coverage of your insurance policy, you can do so by buying add-ons at an additional premium. Also, do not forget to claim your no-claim bonus while paying the renewal premium. Once the payment is made, you will receive a message on your registered mobile number, and your policy will be renewed instantly.

For any help or guidance, you can call us at 1800 267 6767 or mail at paybima.care@mahindra.com, and we will gladly assist you in renewing your Royal Sundaram motor insurance policy.

How to file a claim for the Royal Sundaram Motor Insurance policy

Royal Sundaram provides a hassle-free claim process and offers multiple ways to reach the insurance company for a claim. It has a 100% simplified claim resolution process that is smooth and quick in fast-tracking the claims in less than 5 days. Follow these simple steps to file a claim for your motor insurance plan:

Inform the insurance company: Begin by informing Royal Sundaram regarding the claim no sooner it arises. You can contact the insurance company in various ways, through its toll-free number, mobile application or email. Quote your policy number and vehicle registration number to initiate a claim.

Locate the nearest workshop: If you want to avail cashless claim statement facility, then you would have to take your vehicle to the nearest network garage with which the company has a tie-up. The nearest network garage can be located on the insurance company’s official website.

Damage assessment: The insurance company would then send a surveyor to examine the damage caused to your vehicle for initiating your claim. The survey is generally sent within 24 hours of claim intimation. You can also use the M-Inspect app, a digital application, to inspect the extent of the damage caused to your car in just 20 minutes. After the damages are assessed, the surveyor will send a copy of the report to Royal Sundaram. The insurance company would then confirm the claim to the network workshop, after which the network workshop would begin repairing your vehicle.

Fill and submit a claim form: Next, you would have to fill out a simple claim form with certain personal and vehicle details. The form can be taken from the company’s nearest branch office or downloaded from Royal Sundaram’s official website. Sign and submit the claim form with other relevant documents.

Settlement of claim: The insurance company would examine and verify the documents, after which it would approve the claim. You can collect your vehicle from the network workshop upon successful approval of the claim, and the insurance company will pay the repair costs to the network workshop directly.

Claim reimbursement: Royal Sundaram General Insurance also offers a reimbursement claim facility. In reimbursement claims, you can get your vehicle repaired at any of the non-network workshops with which the company does not have a tie-up and pay all the repair costs. Then, fill up a claim form and submit it to the insurance company along with the original bills of repair. Royal Sundaram would examine your claim and credit the reimbursement amount to your bank account.

For a successful claim settlement, it is necessary to submit certain documents along with the claim form. The document includes the following:

  • Valid driving licence of the person driving the vehicle
  • Original documents of motor insurance policy
  • Registration document of the vehicle
  • Original repair bills
  • Police FIR and inspection officer’s report in case of robbery or theft of the vehicle
  • Bank account details for crediting the amount of reimbursement.

Review of Royal Sundaram Motor Insurance Policy

Royal Sundaram General Insurance Company is famous for its wide range of insurance products and solutions catering to individual, rural and commercial customers as well as businesses and small & medium enterprises. It offers a vast range of insurance solutions to meet the variant insurance needs of businesses and individuals. Some other highlights of the company are:

  • The company offers a Valet Care facility in which it provides 24*7 emergency assistance and priority cashless service from trusted workshops.
  • Royal Sundaram General Insurance Company has introduced an M-Inspect app in which the entire process of car inspection is done from the comfort of your home in just 20 minutes, thereby smoothening and fastening the claim settlement process.
  • Royal Sundaram was the first insurance company in India which introduce in-house Motor Assessors.
  • Royal Sundaram has introduced the M-Chatra app, which is the one-step application for all the details related to your motor insurance policy, its claim processes or any other policy-related request.

Found this post informational? Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance and Investment section. You can visit PayBima to Buy Insurance Online.

FAQs on Royal Sundaram Motor Insurance Company

How can I calculate a two-wheeler insurance premium in India?

Calculating the premium of two-wheeler insurance online is a simple process which can be done within seconds. You can calculate the premium with PayBima’s online calculator. Just enter the details such as model, brand, subtype, year of manufacture of the vehicle and city of residence. After filling in the details, the easy calculator will calculate the premium and show it on the screen.

Can I earn a bonus if I do not make a claim on my motor insurance policy?

Is a personal accident cover mandatory? 

Yes, a personal accident cover is mandatory for the licenced driver. However, you can skip buying personal accident cover in a motor insurance policy if you already have an independent personal accident cover under another insurance policy, and the sum insured in such policy is Rs. 15 lakhs or more.

What is a compulsory deductible?

A compulsory deductible to be paid by you is the minimum amount you need to pay out of your own pocket, and the insurer will not pay for the same. However, the insurer will pay claims that exceed the compulsory deductible.

Yes, a no-claim bonus is available in a comprehensive motor insurance policy if you do not make a claim in a policy year. The bonus starts at 20% and gives you a discount at the time of renewals. Moreover, if you do not make claims in successive policy years, the rate of no claim bonus keeps increasing. You can claim up to a 50% no-claim bonus if you don’t make a claim for five successive policy years.

Can I port my plan?

Yes, porting is allowed in motor insurance plans when you renew. You don’t have to make any porting requests. You can simply choose to renew the policy with another insurance company.

Aug 12, 2022
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PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.

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