A financial safety measure that protects you from what might happen to anyone or any property due to an unfortunate event is bike insurance. There are two kinds of bike insurance policies available in India. The legal requirement to purchase third-party insurance has limited coverage. However, a thorough two-wheeler insurance policy can be tailored to offer protection in situations other than accidents.
As a result, in addition to accidental cases, there are numerous other situations in which an insurer makes a coverage promise. Continue reading to learn when to claim your bike insurance and some of the most frequent reasons for denials.
Can A Bike Insurance Claim Be Made Without An Incident Occurring?
The situations when you can file a bike insurance claim are listed below.
- Natural Disasters:
An insurer offers protection against natural and artificial calamities that can harm your two-wheeler under a comprehensive bike insurance policy. Therefore, an insurance company will pay for any bike damage caused by earthquakes, floods, lightning, explosions, and other events.
- Robbery And Burglary:
Insurance companies also offer protection for any financial loss that occurs to you in light of the increased theft rate in India. In this case, an insurance provider pays the claim using the plan’s IDV.
- Fires And Explosions:
The bike insurance companies will compensate for all your financial losses if your two-wheeler explodes or catches fire. However, an insurer only offers protection in the event of an unintentional fire loss.
- Man-made Disasters:
Unnatural disasters are those that occur as a direct result of human activity. Therefore, the bike insurance policy also covers any loss to your vehicle caused by terrorism, war, strikes, or riots.
What Motivates The Rejection Of Claims?
- The insurance provider will not pay for losses to your two-wheeler outside of the specified geographic areas in the policy document.
- The insurer must cover the bike’s loss. However, the business will not pay any damages if the accessories to the motorcycle are lost or stolen.
- If the policyholder causes loss or damage to the vehicle, the insurer may deny coverage due to negligence. Your top priority as a two-wheeler owner is to take all the required measures to keep it safe from any harm.
- The policyholder cannot claim if the insurance policy has expired or not been renewed.
- If the policyholder were driving while intoxicated, the insurance company would not make any payments if your bike is damaged.
In summary, a bike insurance claim without an accident is possible. A few situations in which you can file an insurance claim are those listed above. These, however, might change depending on the insurance company. Therefore, it is wise to read all the inclusions and exclusions listed in the policy document whenever you purchase a motor insurance policy to prevent having future claims denied. Make sure you pay your bike insurance premium on time.
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Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.