Lost Your Bike Insurance Documents? Here is What You Need To Do
Bike insurance policy is an important document to carry all the time when riding a bike on the Indian roads. But in case you have lost it, here is what you should do.
A bike insurance policy document contains all the information related to the insured bike. Also, it is the main document that you would require at the time of making a claim in case of a mishap, including an accident or other natural calamities. So, if you don’t have a bike insurance policy, then you would not be able to file a claim and avail of coverage benefits. Also, as per the Motor Vehicle Act, 1988, it is mandatory for every bike owner riding on the Indian roads to have a valid bike insurance policy. If found riding without one, then you will be fined Rs. 2,000 under the new Motor Vehicles (Amendment) Bill 2016, by the traffic police or motor department officials. So, make sure you always have one when riding a bike in India.
What To Do If You Have Lost Your Bike Insurance Policy?
In case you have lost or misplaced your bike insurance policy documents, then you must follow these steps as soon as possible:
- File an FIR with the police department in your area
- Send an attested copy of the FIR to your insurance company
- Apply for a duplicate copy of the insurance policy
- Publish an advertisement in the local newspaper if needed
- Sign an indemnity bond to indemnify your bike insurance company
How to Apply for Duplicate Bike Insurance Policy
Here are the simple steps to apply for a duplicate insurance policy:
- File An FIR: Filing an FIR (First Information Report) at the nearest police station about the loss of documents is the first step. You are required to visit the concerned police station in your area and report the same. Mention your policy number, type of bike insurance policy, and the add-ons or riders if any.
After reporting, you are required to submit the application to get an FIR copy from the police station. Get the copy attested and submit it to the insurer as a proof that you have lost the insurance policy. Attach the FIR application with FIR copy when submitting documents to the insurer.
- Submit an Application: Submit a written application to your insurer, indicating that you want a duplicate copy of the two wheeler insurance policy and specify the reason for the same. Mention the policy details including policy number, type of policy, date of issuance, etc. If your insurance policy is held jointly, then sign and submit the FIR copy along with the other policyholder. You will be required to submit the FIR copy
- Publish an Advertisement: In case you have lost your bike insurance policy papers, then it will be mandatory by law to publish an advertisement in a popular local newspaper mentioning the loss of policy papers. Make sure you have the following information when publishing the advertisement:
- Name of the policyholder
- Name of the insurance company
- Policy number
- Registration number of the two-wheeler
You will be required to bear the cost of publishing the advertisement. After publishing the advertisement, you are required to submit the copy of the published advertisement to the insurer.
Bottom Line
A bike insurance policy not only covers the damages but also takes care of the legal obligations. It offers you financial security as well as protects you from getting fined for not fulfilling the legal mandate. So, it will be wise not to lose your bike insurance policy in the first place. But if it has been lost, then following the above-mentioned steps as soon as possible will be helpful.
In case of any grievance, you can contact the customer care executives at InsuranceDekho on the toll-free number 7551-196-989.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.
