Filing a third party bike insurance claim? Avoid these mistakes

Third party insurance is mandatory as per the Motor Vehicles Act, 1988. As per laws, the owner of the two-wheeler that caused the accident is legally liable for any injury or damage to third party life or property. Therefore, a third-party insurance is designed to protect the owner of the two wheeler in such unfortunate incidents.

Third party bike insurance claim process

Though the Indian Motor Act makes insurance mandatory and several initiatives are actively propagating the concept of insurance, many people are still clueless about their claims to third party two-wheeler insurance. In this type of coverage, the victim involved in the accident can claim compensation, keeping the third party bike insurance claim in mind. While the claim can be limitless in the case of accident or death, coverage for damage to the vehicle is capped at INR 7.5 lakh.

Here’s how a third party can stake its claim:

• Contact the police and file an FIR against the accident. This FIR is a vital piece of information that will act as proof that the accident did indeed take place.
• Immediately inform the insurance company about the accident via telephone or email.
• Take photos of the damage incurred by the third party and send it to the company via mail as that will act as proof for your claim as well.
• Try to get witnesses to the accident and if possible, get their number along with the third party’s details as well.
• Once you have all the information, give it to the insurer and while you are doing so, maintain absolute authenticity and do not give any false information.
• Register your case with the Motor Accident Claims Tribunal court of the area where the accident took place.

Common mistakes to avoid while filing a claim

Running away from the spot

You should not run away from the accident spot. All vehicles at the location should stay as is, till an inspector surveys them. You should also look to arrange medical assistance if someone is injured.

Not Filing an FIR

This is probably the biggest folly committed by the stakeholders involved in the accident. By not filing an FIR, you are not documenting the accident and later, will not have any proof while you present your papers to the insurer.

Panicking

Try to be calm in such a situation to be able to make the right decisions at that time. Getting panic only worsen the problem. Hence, don’t lose your cool and conversate with the other party at the accident spot. Try not to indulge in an argument and look for a solution to your problem. Think wisely at the spot and take prudent and prompt decisions in situations.

Driving with alcohol

You should avoid riding your two-wheeler after having alcohol or other intoxicants. Also, refrain from illegal driving and renting out your private vehicle for commercial purposes. These factors could work against you in the event of a claim. Remember if you have to claim third party insurance for two-wheeler, these actions will cost you the right to claim.

Not Informing the Insurer

You should never make the mistake of waiting to inform the insurance provider about the accident. You should ideally make a call to the insurance company’s customer support cell as soon as the accident takes place. Verbal communication is also enough. If you wait for more than 24 hours to report the accident to the motor insurance provider, you will end up getting the claim rejected.

Don’t accept cheques as a part of final settlement

Never accept any cheque as the ‘final payment’ until you are completely convinced about the amount of the claim. Also, never sign any releases to your insurance company until you get correct legal advice or you find that the first estimated claim settlement value provided by the insurance company is the ultimate.

Not capturing evidence

It is recommended that you take pictures of the damaged vehicle. Not submitting any photos will not lead to rejection of the claim; however, it will help speed up the claim settlement proce

Conclusion:

If you pay your insurance premium on time and honestly maintain your third-party bike plan, you can successfully get the insurance claim settled after an accident. Stay away from the common errors mentioned above. If you follow the correct channels and submit your documents properly, in all likelihood, yourthird-party bike insurance claim will be settled with ease and that too in a quick span of time.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.