Two-wheelers are the ones that pose the highest risk when driving on the roads. The exposed structure of the vehicle is the reason for such increased risk. Thus, keeping in mind the risk that it poses, two-wheeler insurance is mandatory, not just for legal compliance, but to ensure financial coverage.
Two-wheeler insurance plans are available in two types—a third-party plan and a comprehensive policy. Both the plans offer different coverage. Hence, the selection of a policy depends on your coverage requirements.
Third-party plans, as the name suggests are policies that provide coverage against legal liabilities that arise during an accident. Third-party plans ensure protection for injuries and damages to a third person and hence it’s the minimum required insurance cover. While it offers coverage for third-party liabilities, it lacks protection for the damages to the insured vehicle. Hence, you can opt for a comprehensive plan that protects you against third-party liabilities as well as any repairs for your bike. In addition, a comprehensive plan can be customized using the add-ons facility. These policies offer features like cashless bike insurance where all costs are paid by the insurance company. But when making a claim for repairs, you need to keep in mind that not everything under the sky is covered by the policy. There are certain conditions that can lead to a rejected claim application. Here are some of them:
Missing a timely renewal of the policy
While it is essential to buy an insurance cover for your bike, it is important to renew it since they are valid for a specified duration only. The Motor Vehicles Act not only implies new vehicles have insurance coverage, but it also implies they are always covered by a policy. Hence, you need to ensure its consistent renewal. If you fail to renew a policy on time, it may not offer any insurance coverage. Any insurance claim made at such time is not valid and leads to rejection. *
Driving under the influence of intoxicating substances
Any damages caused when driving under the influence of alcohol or drugs are prohibited and attract fines. Similarly, accidents that occur in such a state resulting in damages to either a third-person or your bike are also rejected by the insurance company. *
Driving without a valid driving license
For a valid claim to be accepted, the owner rider must possess a driving license. Since it is a part of the four documents you need to ride a bike, insurance claims made when you do not have a valid driving license are rejected. *
Vehicle insurance policy not transferred
If you have bought a pre-owned bike, it is essential you transfer the insurance policy to your name. Failing to transfer it within the stipulated period of 15 days leaves you without any insurance coverage. Hence, do not miss this crucial step when buying a used bike. *
Negligent driving increases the chances of rejection of your insurance claim and should be kept in mind. *
* Standard T&C Apply
These are some reasons that can help you stay afloat from a rejected claim application. When comparing different policies, a two wheeler insurance premium calculator can help you. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.