Frequently Asked Questions About Two-wheeler Insurance
Frequently Asked Questions About Two-wheeler Insurance
Table of Contents
- Frequently Asked Questions Regarding Bike Insurance
- Is Insurance For My Bike Required?
- How Do I Renew My Bicycle Insurance?
- What Paperwork Is Required To Submit A Claim?
- How Is The Cost Of Two-Wheeler Insurance Determined?
- Where Can I Locate The Insurance Policy Number For My Bike?
- Can I Cancel My Bike Insurance?
- Which Paperwork Should I Have With Me As I Ride My Bike?
- What Should Be Done If A Vehicle Is Involved In An Accident Outside Of The Region, City, Or State Where The Policy Was Issued?
- Conclusion
Only third-party bike insurance is required, per the Indian Motor Tariff, and third-party coverage is popular because it is less expensive. However, it is crucial to realise that having insufficient insurance coverage is the same as having none at all. Therefore, it is essential to be familiar with all aspects and have all your queries addressed before making a purchase.
Frequently Asked Questions Regarding Bike Insurance
Below are some of the frequently asked questions while buying a bike insurance:
Is Insurance For My Bike Required?
The Indian government has made it mandatory for every bike owner to obtain at least a third-party insurance policy in accordance with the Motor Vehicles Act. Having insurance ensures that they won't be burdened with unexpected costs in the event of a theft or an accident.
How Do I Renew My Bicycle Insurance?
These days, renewing bike insurance is straightforward. Your policy's expiration date will be let you know in advance. By accessing the insurer's website, you can renew your insurance online. You can go to a branch or contact customer service if you want to renew it offline.
What Paperwork Is Required To Submit A Claim?
Although this will vary from insurer to insurer, the following paperwork is typically needed to file a two-wheeler insurance claim
- Your two-wheeler in RC
- The properly filed claim form
- Invoice for repairs and receipts for payments as needed
- Original loss projections
How Is The Cost Of Two-Wheeler Insurance Determined?
The cost of the premium typically varies from policyholder to policyholder. To determine the precise premium for each given policy, a few determining criteria are necessary. The bike's year of manufacture, make, and model, the owner's age, the engine size, the installation of anti-theft equipment, the owner's voluntary deductible, and the bike's location are among the variables.
Where Can I Locate The Insurance Policy Number For My Bike?
Your bike insurance policy number can be found on the Certificate of Insurance you receive when you buy the policy. Your bike policy number appears in correspondence you receive from your insurer on a regular basis in the form of letters and emails.
Can I Cancel My Bike Insurance?
No, a bike insurance coverage cannot be cancelled until a real reason for doing so is stated within a month of the policy's acquisition. Genuine examples include situations where you end up buying two bike plans, your bike was commercial and you purchased a private bike coverage, etc. However, there are no fees for cancellation.
Which Paperwork Should I Have With Me As I Ride My Bike?
The following documentation is required for bike riding on Indian roadways.
A valid driver's licence, a pollution under control certificate, a bike's registration certificate, and a photocopy or digital copy of your two-wheeler insurance policy that is now in effect.
Make sure all the documentation is not out of date. Make sure to protect any physical copies you are carrying from damage. It is preferable to preserve digital versions of the documents in addition to the hard copies.
What Should Be Done If A Vehicle Is Involved In An Accident Outside Of The Region, City, Or State Where The Policy Was Issued?
No matter where the policy was acquired, it can be used everywhere in India. You won't have a facility for pick-up and drop-off outside of the city limits. A network garage or workshop will be recommended by the contact centre. The assessment of loss will be performed by an outside surveyor.
Conclusion
It is crucial to thoroughly read the policy wordings and comprehend the coverage of the policy before making the final purchase. Since operating a two-wheeler is already riskier than operating a four-wheeler, it is essential to invest in a suitable bike insurance policy in India, which also offers risk coverage for third-party liability and any bodily injuries to the driver.
Also read: What Are Network Garage In Bike Insurance?
