Out of all the vehicles that ply on the roads, two-wheelers are the ones that pose the highest risk. The primary reason being exposed body work that offers no coverage for the rider. Thus, it is essential to keep in mind the safety of such vehicles and purchase a 2 wheeler insurance for it.
A two-wheeler policy is broadly categorised in two types, a third-party plan or a comprehensive one. Of the two, third-party cover is the bare minimum you need to buy and stipulated by the Motor Vehicles Act. But as the policy only offers coverage for third-party legal liabilities, it is not preferred choice of many. Instead, they prefer to opt for a comprehensive insurance policy that not only safeguards them from third-party legal liabilities but also any consequent damages to their bike in the event of an accident. Further, other events like natural calamities and man-made perils like riots, strikes, etc. resulting in damage to the bike are also covered under the policy’s scope. In addition, a comprehensive plan also offers features like cashless two wheeler insurance where you need not pay for the repair costs from your pocket. But akin to all insurance plans, a bike insurance policy also has certain limitation in its coverage. This article lists down some of the situations when your claim might get rejected.
Failure to renew policy on time
Bike insurance is a compulsory requirement and it cannot be skipped due to its regulatory nature. Like all insurance plans are valid only for a specified tenure, similar is the case with bike insurance policies. Thus, it needs to be renewed timely to keep your coverage active. In case a claim is made after the expiry of policy coverage, the claims are rejected. To avoid such situation, you must ensure the policy is renewed on time to avail its benefits.
Driving under the influence of intoxicating substance
Driving under the influence of alcohol or drugs is prohibited. If you happen to be driving your bike under the influence of such intoxicating substances resulting in accident or damages, the claims made are rejected by the insurance company.
Claim raised after specified tenure
Insurance policy terms specify a certain tenure within which you need to raise a claim for accident or repairs. If claims are made beyond this specified duration, the insurance claim can be rejected for not complying the terms of the policy.
Driving without a valid driving license
Insurance claims are only accepted if the owner or driver of the bike possess a valid driver’s license. Since a driving license is one of the documents to legally ride a bike in India, there is no exception to this rule and any claims made when the rider does not possess a driver’s licence is rejected.
Incomplete transfer of insurance document
When you purchase a pre-owned vehicle, there are certain compliances that you need to follow including transfer of registration document along with the insurance certificate. If such insurance transfer isn’t completed within the specified time of 15 days, then any claims made thereafter are rejected by the insurer. Please visit the official website of IRDAI for more details.
These are some of the reasons why your claim may possibly get rejected. Keep in mind these reasons and avoid committing such mistake or oversights to ensure all round protection for your bike. After all, insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, you must read the sales brochure/policy wording carefully before concluding a sale.