How to effectively claim your bike insurance?
In India purchasing insurance with your bike is mandatory by law. When you purchase a two wheeler, the dealer usually takes care of the hassles of registering the vehicle and getting it insured. However, this is something which you should be aware of, as insurance will help you protect your vehicle from unexpected damages, accidental cases, nature’s fury etc. You should know the types of insurance policies available in the market and the features of the policies.
In India, there are two kinds of two wheeler insurance policies you could opt for comprehensive and third-party liability. Comprehensive Policy which protects your bike against burglary and damaged caused due to fire, riot, flood and terrorism. Additionally, it offers accidental cover to the rider in case of an accident. It takes care of third party liability or the amount payable to the third party at the time of accident and Third Party Insurance policy which only takes care of the losses caused to the injured party in case of an accident. It does not cover loss or damage caused to your own vehicle. You can always choose the policy which caters to your needs. However, a comprehensive policy is a popular choice as it gives 360 degree coverage.
Nowadays new vehicles come with a comprehensive insurance policy. So when anything uncertain happens to your vehicle or you meet with an accident you need to approach to the insurance company for the claim. While claiming two wheeler insurance there are a number of documents required such as photocopy of the driving license of the owner, photocopy of registration certificate of the vehicle, police report, duly signed claim form, original copy of the repair invoice.
In case of any loss incurred due to accident, theft or claim from the third party an inspector is assigned by the insurance company who prepares a report on the value of loss. Based upon this report given by the inspector insurance companies pay the amount to the insured person. Usually, it takes about two to three weeks to get the insurance claim processed and the customer getting his or her claim money.
It is important to note that insurance companies do not pay the entire amount for repairs to a damaged vehicle, or the total insured value in case of loss or theft of the vehicle. In accident cases, the inspector assesses the damage, and payments are made to the mechanic on the basis of the parts and services that are covered under the insurance policy. Some materials like rubber and fibre parts are not covered under insurance. Remember insurance company will refuse to pay any claim settlement if the rider was found to be under the influence of drugs or alcohol, or if the rider did not possess a valid driving license at the time of accident.
Once the insurance company confirms that there has been no violation to the terms of a comprehensive policy, you can make the two wheeler insurance claim in case of the following events: Theft of vehicle, Loss of vehicle, Damage due to an accident, Damage or loss due to natural disasters like floods and earthquakes and Damage or loss due to wars, riots and fires
With development of internet, today picking your premium rates has become as simple as click of the button from the place of your choice and comfort. You can now compare and purchase two wheeler insurance online at affordable rates. Check insurers’ websites, their policies structure, available option, rider benefits, charges incurred, discounts & offers and then go for suitable two wheeler insurance plan. Many dealers have suitable tie-ups with insurance companies and give variety of options when you purchase vehicle from them. At the end of the day it’s your mind satisfaction which matters while buying a policy.