Two wheeler insurance offers excellent financial cover to protect your vehicle from unexpected events such as road accidents/collision, damages, third party liability, etc. but a denial from your insurer to settle the claim can be the big jolt. Therefore, it is imperative to be careful while buying a plan and you must also re-examine the details of the policy held by you.
Here are five common reasons why your claim can be rejected.
- Getting your vehicle repaired on your own after the accident: It is the most common mistake that many of you make. You tend to repair your bike on your own and then inform the insurance company about the settlement. As a result of this, the insurer cannot trace back the accident and the repairs and eventually reject your claim. To avoid such situation, always inform the insurance company before getting the car repaired. The company professional will inspect the damage from their end, evaluate the cost of damage and help you get the best deal for repairing the damage caused to your bike.
- Drunk driving: If a person is found drunk at the time of an accident, then an insurance company has all the right to reject the claim. Many times, people try to hide that they were drunk while riding a bike. This may work in some cases where the accident is minor and the driver does not get to see any police or hospital. But in the other case, hospitals exhibit this information to police and then you cannot expect insurance coverage. Rather a tough criminal action can be instigated against you if you hide such a thing.
- When you miss transferring your name in the policy copy: People keen on buying used bikes invest can face a claim rejection in future if they forget to transfer their name in the policy copy. In such cases where transfer formalities have not been done, the policy is considered invalid and will not help you to settle the claim.
- Forget to notify the claim within specified time: Always notify the claim within 48 hours to 72 hours of the damage. If you fail to do so, insurance companies can reject your claim. Also, if you damage your car in a crash and the engine gets damaged too, but you continue driving it, thus causing further damage to the car. The policy claim will automatically be rejected by the insurer.
- Driving License: Driving licenses are valid for a longer duration. After this period, you need to renew it. It is important because if your vehicle meets an accident during the time and your driving license is not valid, then two wheeler insurance will be rendered useless and it can be the prime reason behind the rejection of your claim too.
Though buying two wheeler insurance is an extremely smart step as it can save you from much unaccounted for and sudden costs, but they don’t make you or your bike bulletproof. Be honest and safe, instead of being careless and reckless. Insurance companies will love you for it and help you the most.