5 Important Aspects of Two Wheeler Insurance with Riot Cover!

Your two wheeler could be immensely damaged during an incident of riot. If such a situation arises, can you claim your two wheeler insurance policy asking for compensation? Read to know!

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Why is Two Wheeler Insurance with Riot Cover Important?

Riot usually denotes a situation in which a group of people behaves violently in public places while protesting for or against something. Well, the outcome can sometimes be vicious! It may lead to the loss of lives or properties. The probability of your pricey possession getting damaged also increases     if it is parked in an open area outside your residence     .

Now the question is- will your bike insurance policy cover the damaged two-wheeler?

     The answer is YES!

Wait, there’s more!

Only an own-damage cover will offer insurance protection for damages due to riots. Having said that, here are some important aspects of two wheeler insurance with riot cover.

Riot Cover and Important Aspects to Consider

A two wheeler insurance policy comes in handy in covering the insured vehicle in case of accidental damages. This policy also covers third-party liabilities, damages due to natural and man-made calamities.

Under the category of man-made calamities, bike insurance extends its coverage to the damages due to riots. With this cover, one can claim for the losses sustained by the vehicle. Hence, there are certain aspects you should know when it comes to claiming two wheeler insurance policy:

Aspect 1: FIR is A Must!

If we talk about the important documents required to claim for the damages due to the riot, a police FIR tops the list. This document will help substantiate your riot damage claim.

Aspect 2: No Delay in Informing the Insurance Company

Inform the insurance company as soon as possible. A delay can cause claim rejection. You can intimate them in writing or by calling at the toll-free number.

Aspect 3: Claim Documents

At the time of registering two wheeler insurance claim, you must submit the supporting documents. These usually include:

  • FIR
  • Policy Document
  • Duly Filled in and Signed Claim Form
  • Newspaper Clip, if any
  • Fire Brigade Report, in case of fire damage
  • Repair Bill

The timely submission of these documents can help in faster claim settlement.

Aspect 4: Inactive Policy Means No INSURANCE

The most important aspect to consider is that the bike insurance policy has to be active at all times. An expired insurance policy will lead to claim rejection without a doubt. So, make sure you renew your 2 wheeler insurance as and when it is due.

Aspect 5: Vehicle Inspection

The insurance company will appoint a surveyor to inspect the damaged vehicle. Based on the report made by the surveyor, the claim amount is released. If the report mentions any deliberate action to damage the vehicle, the claim is denied right away.

How Much Compensation is Paid under Damage Due to Riot?

Usually, the policy document contains the details about the overall coverage. The compensation amount in case of riot damage depends on the repair costs. In case of total damage or loss, the claim is paid up to the IDV of the vehicle.

How to Register a Two Wheeler Insurance Claim?

To file a claim, one can visit the official website of the insurance company and follow the below steps:

  • Visit the website and go to the ‘claim’ section.
  • Select the type of policy.
  • Provide information such as contact details, CC no, date and time of the incident, vehicle inspection address, and similar.
  • A claim reference no. will be generated for further use.
  • Send the vehicle to the garage for repair.
  • In case of a cashless claim, the settlement will be done directly with the garageby your insurer.
  • In case of a reimbursement claim, the insurer will settle the bills after verifying the claim documents and completing additional

It’s Your Turn Now!

Situations such as riots can’t be predicted. The repercussions may lead to a huge monetary drain. Here comes a two wheeler insurance policy with a riot cover into the picture. Since the compensation paid under this policy can be a huge relief in terms of finances, a well-researched policy is highly recommended. Make sure to compare and buy a comprehensive policy to keep your prized possession protected.

 

 

 

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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

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^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.

^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.

#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.

*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)

#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.

*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis