10 Reasons why Bike Insurance Claim may get Rejected
Most vehicle owners purchase a comprehensive insurance plan to protect their two-wheeler from risks. Though you never wish a mishap to ever come your way, you might find yourself in a bind while raising an insurance claim. The process is simple, straightforward and can also be completed online.
However, many times, your bike insurance claim may get rejected due to several reasons. To make sure you never find yourself in such a situation, let’s explore some common reasons why insurance providers reject a bike insurance claim.
1. Offering Inaccurate Claim Details
When you file a claim for your bike insurance, you need to make sure that you provide accurate information about the occurrence. It is crucial to inform the insurance provider at the earliest and describe the accident without leaving out any facts.
If you provide wrong details or miss out on the specifics regarding the unforeseen mishap, it could lead to rejection of the insurance claim. Thus, it is recommended to take photographs of the damage incurred by your vehicle and talk to any witnesses in case of major accidents.
2. Making False Claims
Your bike insurance policy aims to provide you with financial protection in the event of an untoward incident. So, when it comes to your policy claims, insurance companies conduct thorough research and verify the claim details before processing them. However, in case they find out that you have raised a false claim, it would certainly get rejected and you could even face legal charges.
3. Partaking in Unlawful Acts
While filing your bike insurance claim, you need to ensure that no unlawful act was committed that resulted in the loss or damage. For example, the loss incurred while riding under the influence of alcohol or doing any stunts with your bike. Such insurance claims shall be denied by the insurance company as these are unlawful acts and aren’t covered under the plan. So, it is recommended to avoid drunk driving or participating in any illegal activity.
4. Filing Claims Under Exclusions
As a policyholder, reading the fine print and knowing the scope of your insurance coverage is a must. This saves you last-minute troubles and educates you regarding the terms and conditions of the plan. However, if you do not read your policy document thoroughly, you are bound to raise claims that fall under the exclusions.
In case you make an own damage claim under third-party insurance, your claim is going to be rejected. Similarly, any bike insurance claims that aren’t covered by the policy will be denied.
5. Riding Without Licence
Driving a motor vehicle without a licence is a legal offence and you can face hefty penalties for doing so. Thus, any damage or loss resulting from riding your bike without a licence will not be covered by the insurance provider. So, it is vital to have your driving licence with you to avoid legal liabilities and maintain your insurance coverage.
6. Raising Insurance Claims Under Lapsed Plan
Bike insurance renewal must be completed before the due date to continue with your coverage. In case you fail to renew the plan and your policy lapses, you shall lose coverage against unfortunate perils.
Moreover, any claims filed under your two-wheeler insurance policy will be rejected by the insurer as you no longer have an active policy. This stresses the importance of comprehensive insurance as accidents on the road cannot be predicted.
7. Delaying Your Claim
Raising insurance claims on time and intimating your insurer are two key elements that can impact your bike claim. Every insurance company has a deadline to initiate claims and it must be done within this period to get the right compensation. If you end up filing a claim a month after the accident had occurred, the insurance provider will surely refuse to cover the damage incurred.
8. Modifying the Bike Without Prior Notice
You might want to customise your prized possession to make the design sleeker. Though it might not seem obvious, your insurance provider should be informed while making any modifications. As certain changes to your vehicle can lead to an increase in the premium rate, your insurer must be kept in the loop before modifying your bike.
9. Failing to Transfer Ownership
If you are purchasing a second-hand two-wheeler, you need to transfer the ownership of the bike’s insurance plan to your name. In case you forget to do so, you cannot file any claims as the insurance policy is still under the previous owner’s name.
Due to this, you would have to pay for any damage incurred by your bike in the event of a mishap. So, make sure you get the policy transferred to your name before taking the two-wheeler out for a ride.
10. Using the Vehicle for Commercial Purposes
You cannot use a private bike for commercial purposes as there is a separate insurance policy available for such vehicles. Therefore, any loss resulting from using your bike as a commercial vehicle will not be covered by the insurer.
Documents Required While Making a Bike Insurance Claim
Here are some documents that you can submit while making a two-wheeler insurance claim:
Copy of FIR, in case of major accident claim
Copy of Registration Certificate of the bike
Copy of Driving Licence
Copy of the insurance policy
Original cash receipts for the repair of your bike
Over to you!
With a comprehensive bike insurance policy, you can rest assured when it comes to unforeseen mishaps on the road. Make sure that your insurance claim never gets rejected and you avail the rightful compensation for the loss incurred. In case you haven’t safeguarded your two-wheeler with insurance, head over to our bike insurance premium calculator to get an estimate!
Browse through the comprehensive two-wheeler insurance policies available at Finserv MARKETS now! You can always count on us and enjoy speedy claims, easy renewals and more.