Points to Keep in Mind to Avoid Claim Rejection in Third party Insurance

According to the Motor Vehicle Act, of 1988, it is mandatory for all vehicle owners to procure third-party car insurance. Driving a two-wheeler without valid insurance can attract fines as well as legal risks. Besides insurance being a legal requirement, getting insurance coverage for your bike is necessary to have financial coverage in case of a mishap like an accident or theft.

If you own a two wheeler, you must get it insured with third-party bike insurance. Accidents can lead to severe losses to third-party vehicles, persons or property. Third-party bike insurance will not just help you cover financial implications of damages caused to third parties, but also legal ones. Additionally, it is suggested to have comprehensive insurance for two wheelers as it will provide coverage for you and your own vehicle along with third-party coverage.

What Does a Third party Bike Insurance Cover?

Third-party bike insurance, as the name suggests covers all damages and losses that occurred to third parties at the time of the accident. This includes injuries, damage to the vehicle, damage to property and any legal fee arising out of the situation. It also offers compensation in case the accident leads to a permanent disability or death of a third party. However, this insurance does not compensate you for any damages that occurred to your own vehicle or injuries incurred by you. It is hence ideal to get a self-damage cover or comprehensive bike insurance to get wholesome coverage.

How to File a Third party Bike Insurance Claim?

One can file a third party bike insurance by following the steps given below:

  • At the time of an accident that involves a third party, it is vital to inform the police immediately. File an FIR to avoid legal troubles. The FIR should be filed as soon as you can.
  • Once the local police have been informed, the next step is to inform the insurance company. Make sure you inform your insurance provider and give all details within 48 hours of the accident. Check for the timeline decided by your insurance provider, as these may vary.
  • If possible, collect photos and evidence. These must also include taking pics of the accident site, injury, and damaged third party vehicle or property. This will help the insurance company process your claims faster.
  • If possible, note down the names and contact details of witnesses, if any.
  • Register your case in the tribunal court in the area of the accident. The case can also be filed in your area of residence of yours or the third party.
  • Keep a track of all documents until the insurance claim is settled.

Often people complain about their bike insurance claims getting rejected or not getting sufficient compensation. This mostly happens because people either lack knowledge about the right way of filing claims or make mistakes when doing so. Here are some common mistakes you can keep in mind when filing a third-party bike insurance claim.

Common Mistakes to Avoid When Filing a Third party Insurance Claim:

  • Failing to inform the police: At the time of an accident, people often refrain from involving police to avoid hassles. But, in order to claim third-party losses, it is vital that you inform the police immediately. In case the third party tries to settle the matter mutually without getting the police involved, you should not agree to it. Additionally, an FIR is mandatory to initiate a third-party insurance claim process.
  • Trying to flee the accident area: Many people panic at the site of the accident. Some people may try to flee due to fear of getting into trouble. Ideally, never try to flee or remove your vehicle or third-party vehicle from the accident site. Also note, while you are there, assist those in need of first aid or medical care as much as you can.
  • Providing incomplete or wrong information: Providing incomplete or wrong information to get more amount in the claim or for any other reason may lead to claim rejection and even blacklisting. Try to be as accurate and as concrete about information as possible.
  • Do not panic: In such tricky situations, try to maintain your calm so you can make the right decisions. Getting anxious or panicked will only make the situation worse. Maintain calm and have clear communication with third parties about collision and damages. Do not get into fights or arguments but try to come up with reasonable solutions. Think quickly and come up with prudent decisions.
  • Do maintain post-accident formalities: Once the initial formalities are completed, many people get relaxed and lenient with the process. But be on your toes and ensure that you don’t miss the deadlines and timelines of insurance companies. Gather all essential documents and pieces of evidence and file for a third-party insurance claim.
  • Do not accept a cheque as the final payment: Do not accept the final payment unless you are sure of the exact worth of the claim. Consider taking legal advice or be sure the anticipated and suggested claim amount is correct.

Since the claim filing and settlement process is an extensive one, many people do not end up filing for a third party claim. The claim process is longer which makes it further daunting for the insurer to get involved in the process.

But, if you decide to file for a claim, ensure you do that accurately and follow all steps given above to avoid claim rejection. If your insurance provider is taking longer to complete the claim process, do stay calm and ensure you have provided all documents and details to speed up the claim process. Additionally, to make the process easier, you can even file claims online, which speeds up the process. Do ensure you do not make the above-mentioned mistakes and get your claim settled in time. If you are a third party affected in a mishap, or vice-versa, fret not, for the third party bike insurance cover will take care of the necessary financial and legal provisions.

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

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