The core purpose behind buying a two-wheeler insurance policy is to get compensated in the event of an accident or mishap. Hence, it is important to make sure that you file the claim correctly to avoid rejection. When there is an accident or collision, there are two vehicles involved. Of these, the accident is usually due to the fault of one vehicle while the other is the victim.
If your bike meets with a collision due to the other vehicle’s fault and gets damaged, then you have the right to file a third-party claim against the other vehicle’s insurance company. The process for filing such a claim is complex and dissuades many people from following through. In this article, we will discuss things you should keep in mind and errors you should avoid while submitting a third-party bike insurance claim.
What is a Third-party Bike Insurance Claim?
When you buy a two-wheeler bike insurance policy, you need to choose the right type of insurance. You can choose between a short-term and long-term two-wheeler insurance plan based on your needs. There are three types of policies available:
- Third-party policy for two-wheeler
- Own damage policy
- Comprehensive bike insurance policy
Here we will discuss bike insurance third-party policies.
When you buy third-party two-wheeler insurance, you get coverage for third-party liabilities arising from an accident caused by your bike. However, if you are the victim, you can file a third-party claim with the insurer of the other vehicle.
Third-party claims cover:
- Injury to a third party
- Death of a third party
- Damage to third-party property
Common Errors Made When Submitting Claims For Third-party Bike Insurance
The process of filing a third-party claim is complex and daunting. Here are some common errors made when submitting a third-party bike insurance claim:
● Not Filing An Fir With The Police
When you meet with an accident on the road, and your vehicle gets damaged and/or you get injured, you should first file an FIR (First Information Report). Also, you need to take a copy of the FIR from the police. Many people find this process hassling and avoid it. However, without an FIR, you will be unable to file a claim.
● Delay in informing the insurer
As soon as you have filed a complaint with the police, you need to call your insurer and inform them about the accident. Most insurers ask policyholders to inform them within 48 hours of the accident. Respect the rules and make sure that you notify your insurer.
● Not capturing details of the accident
As part of the process, a third-party claim goes to the Motor Accidents Claims Tribunal (MACT). This court decides who was at fault that led to the accident. If you are the victim of the accident, then make sure that you take photographs and/or videos to establish how the accident happened. This is also important because it could be weeks before your case comes up before the tribunal.
● Be honest about the accident
If you are at fault, don’t try to blame the other vehicle owner, as it can lead to claim rejection. Ensure you are honest with your insurer and the authorities about the accident.
● Trying to settle out of court when the damage/injuries are serious
Third-party compensation claims are not settled in civil courts. They are handled by the MACT. If you want to file a claim, you need to register a case with the MACT. Many people try to settle out of court even when serious damage or injuries occur. This can result in receiving a lesser refund and higher out-of-pocket expenses.
Summing Up
Accidents or collisions can be stressful. If you ever find yourself in any such situation, try to stay calm and follow the basic steps of calling the police and insurance company. Assess the damage to your bike and think if you want to file a third-party claim or manage it yourself. If you decide to file a claim, follow the process specified by your insurer and receive the compensation you deserve.