In India, according to the Motor Vehicles Act of 1988, third-party motor insurance is mandatory for types of vehicles. If you are caught driving a vehicle without valid third-party insurance, you might have to pay a fine of Rs. 2000 or up to three months imprisonment or both.
3rd party bike insurance helps protect the owner of the vehicle against any third-party liabilities that may be caused in an accident leading to death, injuries, or damages to third-party property.
What is Covered in Third Party Two Wheeler Insurance?
The third-party insurance can only be claimed if the owner or the driver of the insured vehicle is at fault. 3rd, bike insurance covers the following conditions:
- Death or bodily injuries of the third party – The insurance policy provides liabilities coverage against any bodily injuries caused to a third party due to the fault of the two-wheeler rider. It also helps provide compensation in case of the death of a third party.
- Cover for third-party property damage – The third party policy pays for the financial losses that have occurred due to an accident caused by the insured two-wheeler.
- Personal accident cover – This is an add-on cover that you can include that helps cover the costs of hospitalisation or treatment for the owner or driver of the two wheeler involved in the accident.
How to File a Third Party Bike Insurance Claim?
Making a claim for third party bike insurance is not simple. You must prove while making a claim that you were not at fault for causing the accident in order to carry on the proceedings.
Here are a few things you should do and avoid while making a third party claim.
- If you are involved in an accident, you must call the police and file an FIR immediately. It is one of the most important documents to support your two wheeler insurance claim.
- Next, inform your insurance company immediately. Most insurance companies have a window of 48 hours to inform them about the accident. Failing to do so can have serious consequences.
- Try taking photographs of the damages, injuries, accident site, etc. in order to support your claim. This acts as the first-hand evidence of the incident and helps provide more details. Also, try to note down the registration details for the vehicle that caused the accident.
- Be honest. Don’t hide anything from the police and your insurance company. Doing so may result in claim rejection.
- Next, register a case with the Motor Accident Claims Tribunal Court with the help of a lawyer.
- Keep records of all the conversations done with the insurance provider, third party person, and others. Also, keep bills of all the expenses incurred as proof.
Things to Remember While Filing the Claim
Below are a few things to keep in mind if you are involved in an accident and need to file a third party claim for your damages and injuries.
- Do not flee from the accident spot.
- Try taking photos and videos as much as you can.
- Be honest about the happenings.
- In case of serious injuries, seek immediate medical help.
- Collect as much evidence as you can to support your claim.
- Be patient. Don’t panic or get angry.
- Cooperate with relevant authorities
- Make sure to do proper documentation during the claim settlement process.
Author Bio: Smriti Gala works as a Digital Marketing Manager with Coverfox. As her life turned upside down when COVID severely afflicted her family members, Smriti decided to dedicate her expertise to informing and educating the masses about the importance of health insurance. When she is not actively writing enlightening content, our ‘monk marketer’ likes to meditate, meet new people and explore less traveled territories.