A two wheeler insurance policy is valid for 1 year, 2 years or 3 years depending on the tenure of the policy opted for by the insured. If it is a long term policy, a single policy document is issued for the entire duration of the cover.
If your two wheeler has been stolen or lost, first get in touch with the insurance company inform them of the loss. Ensure then that an FIR is filed with the police immediately. Along with the FIR, and other documents (driving license, RC book of the vehicle), file a claim with the insurer at the earliest. Then, the police will provide the final ‘non-traceable’ report. Once, the claim is accepted, you will have to move the RC of the vehicle in favour of the insurer, who will settle the claim.
Yes, this is called an endorsement and insurance providers allow policy holders to endorse additional accessories which may have been fitted later on for an additional premium. All you need to do is send your insurance provider a written request for the same and also share the details of the accessories which you have gotten fitted along with their value.
First of all the two wheeler will need to be inspected if there is a break in insurance due to the lapse or expiry of the policy. Additionally, if you have a No Claim Bonus that has not yet been availed 90 days before the expiry of policy, you could still lose the benefit. However the good news is that the policy can be renewed post inspection and remittance of applicable premium.
If you lose your insurance policy, you should instantly inform your insurance company. You will also have to file an FIR with the nearest police station. Next, you have to apply for a duplicate bike insurance policy with the insurer by paying the applicable fees for a duplicate policy. Next, you will be required to sign an indemnity bond for obtaining a supplicate policy, and this will have the policy number and the full name of the policyholder. You may also be recommended to circulate an advertisement in a newspaper which states that you have lost or misplaced your two-wheeler insurance documents, which can be shared with your insurance company. Once your application is accepted, the insurer will evaluate your case thoroughly and then provide you with a duplicate insurance policy after proper verification. On this new bike insurance policy, the word ‘DUPLICATE’ will be mentioned in bold.
While deciding to insure your car, there are many factors that have to be kept in mind while opting for the ideal cover. Click here to read more