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ATK
New Delhi [India], April 1: Bikes are a preferred mode of transportation today as they help people to maneuver easily through traffic. You must however be extra cautious when riding a bike as it involves great risk. This is because bikes, in comparison to four-wheelers, are, in fact, more prone to road accidents. Owing to this and the legal requirement, a bike insurance policy is a must-have for all bike owners. If you want to know whether bike insurance covers hit-and-runs or not, continue reading and learn more. What is Bike Insurance Policy? A bike insurance policy like any other insurance plan is a legal contract between the policyholder and the insurance company which provides financial protection if the bike is stolen, lost, or damaged under any circumstances. It also provides coverage for third-party liabilities. Moreover, whether you are buying online insurance for bike or choosing the offline route, you must be aware of the different types of bike insurance policy. There are mainly three types of bike insurance Third-party, Comprehensive, and Own-damage bike insurance. While the third-party bike insurance is compulsory as per the Motor Vehicles Act, the other types can be bought depending on the coverage needs of the policyholder. Is Hit and Run Covered in Bike Insurance Policy? A hit and run accident is a situation when the accused flees from the place of accident without providing any contact details. There are many reasons why the accused flees away to avoid being caught and penalised or not paying for the damages incurred to the injured party. Now, to answer whether hit and run cases are covered under your bike insurance policy, the answer is yes. Just remember, that to claim under your insurance policy, it should be active and in case its expiry is near, go for bike insurance renewal instantly to avoid claim rejections. So, let's understand all about how to claim coverage in such a situation as well as what to do immediately after a hit and run case. What Should You Do During Hit and Run? If any third-party hits your bike and flees away without providing necessary contact details, here's what you need to do: * Find Offender's Details: First and foremost, you should try to find the details of the accused without getting panicked. It is always a better idea to take a picture of the offender's vehicle which states the registration number. Once you have the registration number details, you will be able to track the owner details from the Vahan app. * Look for Witness: Next, you should see if there is any witness of the accident. This will help in police investigation and filing an FIR. A copy of FIR is also important at the time of raising bike insurance claim. * Report the Incident to the Police: You also need to report the incident to the police so that they can initiate the investigation process. * Take Pictures of the Accident Area: Then, you should also take pictures of the accident spot as well as the damaged bike. * Inform Your Insurer: You also need to inform the insurer about the incident. This will initiate the claim process instantly. How to Raise Bike Insurance Claim After Hit and Run? To raise bike insurance claim after hit and run, you first need to inform your insurance provider. The insurance company is bound to accept the claim request, if you are victim in case of Hit and Run. Once the claim is raised, a surveryor will be sent to assess the damage, after which the damaged bike will sent for repairs. During the process, you will also have to submit some documents like FIR copy, pictures of the accident area, and others. Conclusion Hit and run accidents can distress you, but make sure to take advantage of your bike insurance policy in such a case. Buy a comprehensive bike insurance plan to get complete financial coverage for any financial damage to your bike. (ADVERTORIAL DISCLAIMER: The above press release has been provided by ATK. ANI will not be responsible in any way for the content of the same)
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