Raising an insurance claim is always stressful if you don’t have clarity about the process. Usually the processes are extremely customer friendly but given the situation that one is in, the process may seem unnerving.
Imagine a situation where your bike has been damaged due to an accident. At such times, multiple thoughts are going through your mind. Plus, if you are hurt yourself, you will first need medical attention and only then be able to do anything about the bike. In case of third-party claims, the stress multiplies.
Wouldn’t it be good to have some information about the claim process in advance so you are better equipped to handle such a situation?
Today, we’ll take you through the claim process for third party insurance since this is a must-have insurance mandated by law.
What is a Third-Party Bike Insurance?
Third-party bike insurance is mandatory by law in India. All vehicle owners must have this insurance policy in order to avoid any penalties or hefty fines. This was made mandatory by the Motor Vehicles Act in order to make sure that roads are safer and people feel secure when they take their vehicles out on the roads.
Third-party insurance however does not cover you for financial losses pertaining to damages that your bike incurs. A third-party bike insurance or third-party liability insurance focuses on insuring the policyholder against injury or damages caused to any third party’s property due to the insured vehicle. For example, in case you meet with an accident while you are riding and damage another bike and injure the rider – in such case, third-party insurance will cover the damages that your bike caused to the other rider and their bike but any damage that your own bike faced will not be covered.
How to File Third-Party Bike Insurance Claim for your Damaged Bike
The exact process for filing a claim for your damaged bike differs on the basis of the type of bike insurance policy that you have – third-party or comprehensive.
In a third-party insurance cover, there is dependency on the compensation covered by the damage causing person’s third-party cover. And if in this case, you are the third-party who’s vehicle got damaged then there is slightly complex process.
Suppose you only have a third-party liability cover for your bike. A car owner (with a third-party cover) accidently causes damage to your parked vehicle. Now you want to file a third party bike insurance claim against that car owner’s policy.
Below we have mentioned the step-by-step process through which you can raise a third party insurance claim for your damaged bike.
- Take photographs of the damage/dents on your bike.
- Note down the details of the damaging vehicle.
- If possible, check if someone witnessed the accident and note their contact details.
- Then, inform your insurance provider, so they will be able to guide you regarding specific scenarios.
- File a First Information Report (FIR) at a police station under whose jurisdiction the accident took place.
- Register a case with the Motor Accident Claims Tribunal Court with the help of a lawyer.
- Prove in court that the third party was guilty by providing required documents and details.
- Receive applicable compensation from the damage-causing person’s insurance company.
In case you have caused damage to a vehicle then this process will be followed by the owner of the damaged vehicle and your vehicle & policy details will be submitted in the FIR and further proceedings.
Although the claim process does seem complicated, third-party insurance cover is mandatory and aims at ensuring that people drive safely and abide by traffic rules to avoid causing any destruction to third-party life or property. It is always recommended to have comprehensive insurance for your vehicles to cover both third-party liability and damage to one’s own vehicle as well. To check comprehensive plans for your two-wheeler, check out the Insurance Mall on the Bajaj Finserv
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