After buying two-wheeler insurance, most policyholders think that all their problems will be solved. However, experts in the insurance sector say that buying an insurance policy is only half the task and the policyholder should understand that the second task is to settle the insurance claim properly. According to Rakesh Goel, Director, Probus Insurance, while making a two-wheeler claim, the policy document should be thoroughly checked. Also what does the insurance policy cover. It is important to understand about this as well. Let us know the reasons why two-wheeler insurance claims get canceled in large numbers.
Rejection of claim due to breaking of rules – Many times it is seen that people start driving without driving license. In such a situation, if an accident happens, the insurance company rejects the claim. Apart from this, many people also drive drunk. Because of which the insurance company rejects the claim made in the event of an accident. In such a situation, whenever you drive a two-wheeler, drive with a valid document.
Delay in paying premium of the policy One of the biggest reasons for the rejection of two-wheeler insurance claim is not paying the premium of the policy on time. Sometimes vehicle owners do not renew their two-wheeler insurance policy on time, due to which the insurance company rejects the claim. Apart from this, even if you hide the correct information while making an insurance claim, your claim can be rejected.
Modifying a two-wheeler Youth modifies sports bikes. For which permission from RTO is necessary. But it has been seen in many claims that bikes or scooters are modified but the necessary paperwork is not completed for them. Because of this also the insurance company can reject the claim.
Also read: New rules issued for settlement of accident claim, now this information will have to be given for vehicle insurance
Not transferring ownership Two-wheeler owners sometimes sell their vehicles without transferring ownership. In this situation, if an accident or claim is made, the insurance company rejects it. Therefore, whenever you sell or buy an old vehicle, you must transfer its ownership. Because with the transfer of ownership of the vehicle, the insurance also gets transferred in the name of the new owner.