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Know whether your two-wheeler insurance covers fire damage 30th November 2022
Besides its legal obligations, bike insurance can help you avoid paying heavy amounts for any damage, theft, or mishaps. But if you buy two wheeler insurance online, you must look for the various coverages the insurance policy provides. What if your two-wheeler catches fire because of an accident or other disaster? Will your insurance policy cover it?
Fire can cause minor issues, such as wire or seat damage, or even the total loss of your vehicle. Repairing significant damages or even a total loss may cost you a fortune, as you have to pay a considerable amount for repair or replacement. Thus, it would help if you had a bike insurance policy that offered you financial assistance for the damages caused by the fire. This quick guide will help you know whether your bike insurance policy covers fire damage.
Which two wheeler insurance covers fire damage?
There are three main types of bike insurance, but coverage of damages depends on the type of policy you pick. However, here is a list of bike insurance policies and the range of coverage that each policy provides.
Comprehensive bike insurance:
Comprehensive bike insurance is one of the most popular types of insurance due to its wide range of coverage, and it covers both own damage and third-party damages. Besides covering fire damage, this two wheeler insurance policy covers the following damages:
● Third-party injury
● Vehicle theft
● Accidental damages
● Third-party property damage
● Death of the third party
● Natural calamities damages
● Artificial calamities damages
Standalone bike insurance:
A standalone own-damage bike insurance policy only covers the damage to your bike. Here is the list of coverage this policy allows:
● Damage caused due to fire
● Bike theft
● Natural calamities
● Accidental damages
● Artificial calamities
Third-party bike insurance:
Third-party bike insurance offers coverage for the injury or damage of a third-party vehicle. However, this insurance does not cover the damages to your bike, including fire damage. But, having this policy is mandatory by law:
● Third-party injury
● Third-party property damage
● Death of the third party
Inclusions and exclusion of fire damage in two-wheeler insurance:
When you buy two wheeler insurance online, you must know the terms & conditions and the coverage for fire damage. Here is the list of inclusions and exclusions for fire damage.
Inclusions:
● Accidental house fire
● Natural calamities
● Riots
● Motor accident
● Vandalism
Exclusions:
● Fire damage due to mechanical or electrical defect
● Damage due to the addition of extra accessories
● Damage due to deliberate acts or own negligence
● Fire damage caused outside the specific geographical area
How to claim for two-wheeler fire damage?
If your vehicle is damaged due to fire and you have your bike insurance policy which covers fire damage. Then you must follow the below process to claim for such damages:
● Contact your insurance provider and inform them about the damage and its cause within 48 hours
● Collect various evidence, such as taking videos or pictures of the incident or the damaged parts of your two-wheeler due to the fire
● Visit your nearest police station and file an FIR
● Submit multiple documents such as address proof, identity proof, etc.
● Then the insurance provider will send a surveyor for an inspection of your case
● In case of minor repair or replacement, the insurer will offer you compensation
● In case of a total loss, the insurer will give you the amount as per the policy's terms
Documents required:
● Driving licence
● Identity proof
● FIR copy
● Registration certificate for bike
● Report of the fire brigade
Various reasons can cause fire damage, and it can be pretty disturbing for you to pay for the repairs or replacement of the damaged parts. Thus, it would be best if you had bike insurance covering the fire damage and providing you with the financial assistance you need during an emergency. It is best to buy two wheeler insurance online, browse through multiple options and research the one that offers comprehensive coverage, including fire damage. This way, you can efficiently ensure the longevity of your two-wheeler and stay financially sound.
Click HERE to buy two wheeler insurance online.
Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.