Bike insurance is a financial safety net that protects you or another person from unfortunate events. There are two types of bike insurance policies available in India. You can buy bike insurance online. The legal requirement to purchase third-party insurance has limited coverage. However, a thorough two-wheeler insurance policy can be tailored to offer protection in situations other than accidents.
As a result, in addition to accidental cases, there are numerous other situations in which an insurer makes a coverage promise. Continue reading to learn when to make a bike insurance claim and some of the most frequent reasons for claim denials.
When May You File A Bike Insurance Claim?
The situations in which you can file a Bajaj Allianz bike insurance claim are listed below.
-
Natural Disasters:
An insurer offers protection against natural calamities that can harm your two-wheeler under a comprehensive bike insurance policy. Therefore, an insurance company may pay for any bike damage caused by earthquakes, floods, lightning, explosions, etc. Claims are subject to terms and conditions set forth under the motor insurance policy. *
-
Burglary And Theft:
Insurance companies also offer protection for any financial loss that occurs to you in light of the increased theft rate in India. In this case, an insurance provider pays the claim using the plan’s IDV. Claims are subject to terms and conditions set forth under the motor insurance policy. *
-
Fire And Explosions:
The bike insurance companies may compensate for all your financial losses if your two-wheeler explodes or catches fire. However, an insurer only offers protection in the event of an unintentional fire loss. Claims are subject to terms and conditions set forth under the motor insurance policy.*
-
Man-Made Disasters:
Man-made disasters are those that directly result from human activity. Therefore, the bike insurance policy also covers any loss to your vehicle caused by terrorism, war, strikes, or riots. Claims are subject to terms and conditions set forth under the motor insurance policy. *
-
Accidents:
In the event of an accident causing damage to your two-wheeler, you are eligible to file a bike insurance claim. Accidents include collisions, crashes, and any other unforeseen incidents resulting in damage to the insured vehicle. Claims are subject to terms and conditions outlined in the motor insurance policy.*
What Are The Reasons For Rejection Of Claims?
- The insurance provider may not pay for losses to your two-wheeler outside of the specified geographic areas in the policy document.
- The insurer must cover the bike’s loss. However, the business may not pay any damages if the accessories to the bike are lost or stolen.
- If the policyholder causes loss or damage to the vehicle, the insurer may deny coverage due to negligence. Your top priority as a two-wheeler owner is to take the necessary precautions to keep it safe from any harm.
- The policyholder cannot claim if the insurance policy has expired and they have not renewed it.
- If the policyholder was driving while intoxicated, the insurance company may not make any payments if your bike is damaged.
A bike insurance claim without an accident is possible. Some of the situations in which you can file an insurance claim are those listed above. These, however, might change depending on the insurance company. Therefore, it is wise to read all the inclusions and exclusions listed in the policy document whenever you buy bike insurance online to prevent having future claims denied. Bajaj Allianz’s two-wheeler insurance claim settlement ratio is impressive, indicating a high rate of successful claims. Claims are subject to terms and conditions set forth under the motor insurance policy.
Subscribe to Bajaj Allianz General Insurance YouTube Channel here!
*Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
