It is essential for two-wheeler owners to buy two wheeler insurance at the time of vehicle purchase. Not only is a two wheeler insurance policy a necessary document every bike owner should carry, it also saves you from a number of risks that you may face while traveling on the bike/scooter. A two wheeler insurance provides protection against accidents, own damage, third-party injuries, natural calamities and man-made calamities. A two wheeler insurance policy is divided into two parts -third-party liability policy and comprehensive policy. Third-party liability cover is a statutory requirement as per the Motor Vehicles Act, 1988. But if you wish to provide complete protection for the vehicle, then you should choose a comprehensive two wheeler insurance policy.
The premiums for both types of policies will vary as per their coverage capacity. There is a difference in the premium amount because both policy types have some exclusions. When you purchase or renew a two wheeler insurance policy, it is important to know the inclusions and exclusions under the policy. During the distress times when the vehicle has faced an accident which has led to severe damages costing huge amount for repair, two wheeler insurance can be claimed. But when you claim the two wheeler insurance, sometimes the insurer rejects your claim after the results certain investigations. Yes, for every claim that you make, the amount is approved only after the insurer investigates your claim.
It is very important that you enter correct information in the policy at the time of purchase. But it is all the more important to enter correct details of the incident for which you want to claim the two wheeler insurance. Please know that the insurer approves the claim only after conducting an investigation about the incident mentioned in the document. If any of the information is false it will lead to rejection of claim. Also if your present address or any other details of the documents you entered differ from the original details produced at the time of purchasing the policy, do not claim the insurance.
It is known by law that any person who is intoxicated with drugs or alcohol, should not operate any machinery especially driving a motor vehicle be it car or bike. Not only does it leads to misjudgment riding, the rider may end up hurting him/herself or any third-party person or property. The rider may face legal tangles as well as a result of his riding. Under such circumstances, the policyholder should refrain from making any claim for the damages caused to the bike or oneself. This is one of the exclusion from the two wheeler insurance policy that would be mentioned in the policy by every insurer.
This is one of the main reasons why insurers reject the claim by policyholders. Fraudulent additions is the addition of damages that is not caused during the current accident or damage. People add repairs to these extra parts while making a claim to save servicing charges which they have to bare. If the insurance company notices that these additions are false, then the whole claim amount will be rejected and may revoke the two wheeler insurance policy as well. This may become a black mark on your record which will make it even difficult to buy an insurance from another insurer.
It is very common that friends or acquaintances borrow the vehicle for some work. If he/she does not have a valid Driver License and faces an accident or end-up causing damage to the vehicle, the insurer will reject the claim if any made by you. This applies to the owner of the vehicle as well. Driving without a license is a crime according to the law. Few insurance companies only allow claim even when the vehicle was not operated by the owner, only if the other person was nominated in the policy.
It is extremely important to make sure that the vehicle is in good condition at all times for own safety. It is noticed that many times the insurers have rejected a claim citing the reason of faulty parts due to irregular maintenance by the owner of the vehicle which may have played a part in causing the damage or accident to oneself, vehicle or third-party. SO refrain from filing a claim if the vehicle was not serviced properly as mentioned by the manufacturer.
two wheeler insurance is a mere agreement between two parties, the insurer and the buyer. If the buyer or the policyholder does not adhere to the clauses and rules mentioned in the agreement or the policy, the insurer has all rights to reject the claim. So it is important to read and understand the policy before buying the same.
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