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Reasons Why Your Bike Insurance Claim May Get Rejected

By Finserv MARKETS - Mar 2,2019
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Reasons why Your Bike Insurance Claim may get Rejected

There have been numerous instances when a bike insurance claim has been rejected by insurance providers. There are a number of obligations which must be fulfilled by the policyholder to ensure that there are no concerns when filing for claims. You need to ensure that your claim application is duly filled with all the details and necessary documents.

Documents required while making a bike insurance claim

You need to keep the following documents ready at the time of filing a claim.

  • FIR or a police report
  • A copy of the registration certificate of the bike
  • A copy of your license
  • A copy of the insurance policy
  • Original cash receipts for the repairs of your bike

Instances when your claim may be rejected

Here are a few reasons why your claim might be rejected.

  • Misrepresentation of facts

When you file a claim for your bike insurance, you need to ensure that you provide accurate information about the policy. If the company is not informed of all the details regarding the accident, rider, and vehicle, it could reject the insurance claim.

  • False claims

Insurance companies aim to provide you with financial protection in times of trouble but if they find out that you are using false information to gain more coverage than necessary, they will reject the claim. A company will always verify the authenticity of the claim before it accepts it.

  • Unlawful acts

When you make a claim on your two-wheeler insurance, you need to ensure that you have not committed any unlawful act as it could backfire. You should not be found guilty of riding the bike under the influence of alcohol or doing any stunts. In any of these cases, the policy could be immediately terminated.

  • Claim coverage

Many policyholders do not read the documents properly and are not aware if their policy covers their particular claims. If you have a comprehensive policy with add-ons, you will have the maximum cover. However, if you have not purchased add-ons, there will be certain costs you will have to bear out of your pocket.

  • Unlicensed driving

In the case of unlicensed driving, there are good chances of the claim being rejected. You need to ensure that you have a valid driving license when you sit on the bike. Your claim will not be accepted if the rider of the vehicle does not hold a valid license.

Finserv MARKETS is a trustworthy insurance platform with a high claim settlement ratio of more than 90% making us the preferred choice for many. We offer a long-term policy of up to three years along with a seamless claim settlement process.

You can buy bike insurance online by comparing the available products and their features. Ensure that you have comprehensive insurance coverage at all times.

Read our top blogs to know more about bike insurance in India:

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522