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6 Bike Insurance Secrets You Should Know

Understanding Bike Insurance Basics

6 Bike Insurance Secrets to Lower Your Premium

Add-on Benefits in Your Bike Insurance Policy

Mistakes That Can Lead to Claim Rejection

Knowing the typical mistakes leading to denied bike insurance claims can help you eliminate unnecessary headaches and financial losses. Here are the usual mistakes that will get your claim denied:

Mistakes  Description
Expired Policy If you're trying to claim with an expired or lapsed bike insurance policy, it doesn't matter how valid your claim is; it will likely be denied.
Providing Inaccurate or Incomplete Information Providing inaccurate or incomplete information and details about you, your bike, or the event leading to a claim can lead to a denial.
Delayed Claim Notification Failing to notify the insurer of the instance or event leading to the claim can cause you to lose your claim. Be sure to always inform the insurer quickly and immediately.
Not Making an FIR Not making a First Information Report (FIR) to the police after an accident, or a theft or total loss case, could cause the insurance company to deny the claim.
Unauthorised Repairs If you make repairs on your bike before a surveyor from the insurance company gets to look at the damage, it can lead to a denied claim.
False or Fraudulent Claims Submitting false claims or inflating damages is a serious matter. Insurers examine claims meticulously and will refuse to pay if it looks fraudulent.
Illegal Use or Unlawful Acts Insurers will not entertain claims for accidents while riding impaired, without a valid licence, or while committing a crime (for example, street racing).
Undisclosed Modifications If you modify your bike and do not tell the insurer, they may refuse your claim because they base their risk assessment on the original bike specifications.
Using the Bike for Business Purposes If your bike is insured privately and is deemed to be used for business purposes and becomes damaged, your claim will be denied.
Lack of Proper Documentation Missing or incomplete documentation, such as an insurance policy, registration certificate, or driver’s licence, can pause your claim. Always have documentation prepared.

Lesser-Known Two Wheeler Insurance Add-ons That Can Be Useful

While most bike owners are aware of well-known add-ons like zero depreciation and roadside assistance, many add-ons are not so well-known and can protect your two-wheeler insurance to a greater extent. The add-ons include:

Add-On Cover Description
Key Loss Cover Key loss cover will reimburse you for replacing lost or stolen bike keys and even provide you with a spare key.
Helmet Cover Helmet cover is a unique add-on that will reimburse you for any repair or replacement of your helmet if it is damaged in an accident.
Consumables Cover Consumables cover will reimburse you for items like engine oil, nuts and bolts, lubricants, and other smaller items your standard policy does not cover.
Daily Allowance Benefit If your motorbike has been damaged due to an accident, this add-on policy provides a daily allowance for alternative transport to be used while your motorbike is being repaired.
Tyre Damage Cover Tyre damage cover protects against costs incurred from accidental damage from punctures, bursts, or damage. The benefit would be valuable for riders who regularly travel over rough roads.
Engine Protection Cover The engine protection cover would cover you if your vehicle needed repairs or replacement due to engine damage caused by water ingression, oil leaks, or mechanical breakdowns.

Bike insurance isn’t just about meeting legal obligations; it's a key tool for safeguarding your bike and finances. By understanding the nuances, uncovering hidden benefits, and avoiding common pitfalls, you can reduce your premiums and ensure a hassle-free claims process.

FAQs about Bike Insurance Secrets

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