New lifestyle, pollution, traffic jams, crowds all over, the youngsters' zig-zag stunts etc have made the life so stressed out today that one is always suffering from forebodings – how will I reach office, how will I pass from the congested paths, how will I face traffic hurdles, how will I save myself from accident, particularly when I am riding a bike, which, from all angles is more prone to accidents and thus encounter a great threat to healthcare. A number of times accidents result in severe injuries and even death. Apart from causing physical loss or death, the main worry left after the insurer is dead is about dependents, as to how they will face financial problems. Hence your first worry in today's time is to financially secure yourself if you buy a bike.
Why to buy Comprehensive Bike Insurance Policy with Third Party Cover?
It is your prerogative to choose the type of insurance for your bike, but the following guidelines for burying insurance for the bike and benefits offered by different insurance companies will be worth considering:
- Always prefer a comprehensive bike insurance policy with third-party cover, which are in any case mandatory as per law. This way in the event of physical injuries or death happening due to accident, the financial compensation is sufficient enough to give financial security to your dependents. The third-party death-compensation is the whole liability of the insurance company. It may run to lakhs or tens of lakhs rupees, but you have to pay nothing.
- Don't ever miss to renew the insurance policy in time, otherwise you lose all the benefits aligned with the policy.
- Some other benefits:
- No Claim Bonus (NCB) facility upto 50% discount.
- You can change the insurer during renewal, albeit it is advisable to retain one retain one insurance provider to avoid delay and other encumbrances to settle the claims.
- You can enjoy cashless facilities in innumerable empanelled hospitals garages of the service provider towards hospitalization, heart attack, brain problem, broken limbs, burns, surgery, anesthesia, doctors' fees etc. repair of damage caused due to accident, theft, natural calamities, etc…
Bike Claims- Safety Concerns
The need to claim insurance arises, if you are in a sort of collision. In such an event, the pre-requisite is to take the following measures towards safety concerns:
- First of all, make secure the scene of accident. Put on warning lights, make sure the traffic is aware that accident has happened, take your bike out of harming area, etc.
- Call in the ambulance if someone is physically injured.
- Call in the police and immediately inform them if someone involved leaves the scene of accident.
After attending to safety aspects, go ahead for insurance claim. The following should be noted:
- Never accept liability or agree to pay any compensation.
- Note down registrations of the other involved vehicles.
- Note down names and contact particulars of witnesses. Try to make sketch of the location with a resume of what happened at the time of the accident.
- Take photographs of the scene if possible
- Other types of claim
- If you claim for theft, damage, it is equally important to muster similar information as mentioned above.
Dealing with your insurer
After the accident, contact your insurer within 24 hrs. Give all the details of the accident by way of a formal communication along with all the records in your hand. Your insurer will refer you to an assessor to verify damage to repair your vehicle by taking your bike to the company's approved garage. You will be required to pay the claim in excess of any claim due to you on account of your own insurance. But if your claim is from other motor vehicle's individual for the accident due to their fault, then you have no liability to pay anything.
Kirti Saxena is a web enthusiast and a writer for different areas including insurance and banking and numerous other sectors. For more information visit: Bike Insurance and Bike Claims .