Two-wheeler insurance appears as the savior in the hour of need! But it is useful only if you claim the policy right. By saying this, even a single mistake can lead to claim rejection. That’s why you should be extra cautious while claiming your policy, especially the third-party two-wheeler insurance.
If statistics are to be considered, there is one death every four minutes in India. Two-wheelers involve in 95% of road fatalities. The whopping figure of road accidents strikes fear among the people. Moreover, the chances of getting bigger injuring in case of two-wheeler accidents have made the importance of two-wheeler insurance evident. Well, it comes in handy only if you know every minute thing of claiming bike insurance and avoid those things that might lead to claim rejection.
Before digging into detail, let’s consider what is third-party claim?
Decoding Bike Third Party Insurance Claim
If we go with the law of vehicles, third-party two-wheeler insurance is mandatory for every vehicle plying on the roads of India. This policy comes in handy in mitigating the legal liabilities arising out of an accidental injury, property damage, or death to a third party. However, this policy doesn’t cover the insured vehicle in case of its own damage. The extent of coverage:
- Liabilities arising out of third party property damage up to Rs. 1lakhs
- Compensation up to the sum insured in case of accidental death of the insured
- 50% of sum insured in case of disability leading to loss of income
The compensation to be paid is decided based on the judgment of the tribunal court. However, in case of small damages, the case is usually settled outside the court.
Procedure for Filing Third Party Two Wheeler Insurance Claim for Your Bike
Even if your vehicle collides with another and sustains damages/injury, you can also file third-party insurance for the liabilities from the other party involved in the accident. Let’s understand with an illustration:
Mr. Verma met with an accident while returning from the office. His vehicle got smashed with a truck due to the negligence of the truck driver. He filed a claim for the loss under third-party insurance of the driver for reimbursing the incurred medical expenses and repair expenses of the vehicle. Of course, he has to be proved as NOT being at fault, for the claim proceedings to carry on.
Thus, when it comes to claiming third party two-wheeler insurance, the extensive procedure requires:
- In case of an accident, the first thing to do is to call the police and file an FIR. Fir is a mandatory document which supports your two wheeler insurance claim in the later phase. Never delay on this!
- The next step is to inform the insurance company immediately. Most insurance providers have a window of 48 hours to inform about an incident. Follow the rules without fail. The consequences of not following the rules can be heinous.
- In order to support your claim, try taking photographs of the damages, injuries sustained by you or the other party, the accident etc. This could be excellent evidence with all vivid details for future use. Also, note down the names and numbers of a witness if any, who is willing to help you file a claim. Moreover, note down the insurance details of the party involved in the accident. Although these are additional tips, these willl boost your case anyways.
- Be honest at your part and don’t hide anything from the insurance company. Hiding a related thing may work against you.
- Register your claim with Motor Accident Claims Tribunal Court with the jurisdiction of the area where the incident took place. Remember that civil courts are not authorised to decide the compensation under third party insurance for two wheelers. It is advised to abide by the rules and follow the steps.
- Keep the records of the all conversations with the insurance provider, representative or people you contact during the claim process for future reference. From the time of incident until the final claim settlement with the insurer, keep all the bills and receipts or the proof of expenses incurred.
Common Mistakes to be Avoid in Third Party Bike Insurance Claim
- Don’t run away from the place of accident or avoid moving your damaged vehicle. Check if medical aid is required for the other party.
- Avoid skipping to call the police. Even if the party involved in the accident tries for a settlement with you without informing the police, it is again illegal. Remember, police FIR is an essential document that will help in faster claim settlement.
- Avoid panicking. It is obvious to get stress in such a situation or you may end up being angry or aggressive. Moreover, don’t become submissive or accept the blame just like that. Call your insurance company for legal advice.
- Avoid riding your vehicle while drinking or if you are under the influence of intoxicants, avoid illegal driving. This surely will lead to claim rejection as insurance companies put this in their exclusion list.
- Avoid riding the two-wheeler without a valid driving license. Also, keep the RC handy.
- Avoid signing any releases to the insurance company until you obtain legal advice or believe that the first estimated value provided by the company is the ultimate.
|You may like to Read: Common Mistakes To Avoid While Filing Third-Party Bike Insurance Claim|
The Final Word
Claiming third-party two-wheeler insurance can be a tedious task if you don’t follow the process rigidly. Most importantly, avoid doing any mistakes that you think might lead to claim rejection. Moreover, considering the complexity, the insurer might take longer to settle the claim as it pays out the money only after ensuring the case thoroughly. So, keep calm and handle the situation with patience.