Procedure to Apply for a Duplicate Two-Wheeler Insurance Policy
Once you purchase a two-wheeler insurance policy, you are required to carry it with you at all times, especially when riding your two-wheeler. Thus, if your policy document has been lost, stolen, or destroyed, either in part or whole, you should immediately intimate the insurance provider and apply for a duplicate copy of the two-wheeler insurance policy. Listed below are the steps that you will have to follow to apply for a duplicate two-wheeler insurance policy:
If you lose your two-wheeler insurance policy document or if the policy document has been stolen, you should first register a First Information Report (FIR) at the nearest police station. Once you register the FIR, you should take a copy of it since you will need to submit it to your insurance provider.
After registering the FIR, you should intimate the insurer of the loss of your policy document. Make sure to check if there are any specific formalities that you will need to follow when applying for a duplicate two-wheeler insurance policy.
Certain motor insurance companies require policyholders to get an advertisement published in a newspaper that is circulated in the area where the policy document was lost. The advertisement should mention your name and contact number/address and should state that the policy document should be returned to you if anyone happens to find it. Keep in mind that most motor insurance companies will require you to publish this advertisement at your own expense. You should check if your insurance provider has any specifications with regard to the type of newspaper that the ad is to be published in.
You may be required to submit an indemnity bond when applying for a copy of your two-wheeler insurance policy. The indemnity bond should be drawn up on a non-judicial stamp paper. It will have to be executed in favour of the motor insurance provider. Make sure to get the indemnity bond notarised. Motor insurance companies require policyholders to submit the indemnity bond to indemnify them for losses that may have been caused due to fraud or misuse of the lost policy document. The document will also state that the policyholder agrees to return the policy document to the insurer, if it is ever found.
After completing the above-mentioned formalities, you can proceed to apply for a copy of the original two-wheeler policy. To do so, you will be required to submit a written application to the insurance company requesting the insurer to issue a copy of the two-wheeler insurance policy. In your application form, you should ensure that you mention your name, issue date of the policy, policy number, type of insurance policy that you opted for, etc. You may also be required to attach a copy of the FIR, the advertisement that was issued in the newspaper, and the indemnity bond.
Given that it is a must to carry your two-wheeler insurance policy with you while riding your two-wheeler, you should ensure that you don’t operate your vehicle in public places until you receive a copy of the document. Once you receive the policy document, you should ensure that you keep it in a place that is safe and accessible.