Why You Need Theft Cover for Your Bike – Complete Guide
2024-11-09 15:27:51Traveling by bike is one of the easiest and most convenient methods of commuting, especially in traffic-heavy areas. Unlike a car, a two-wheeler vehicle doesn't take up much space, and you can easily make your way through the other vehicles on the road. With an increase in the number of bikes in India, there is also a steady rise in the number of theft cases of the same.
As hiding stolen bikes becomes easier than cars, bike theft has become quite common and the companies are trying hard with investigating agencies to contain the same. So it is necessary to have a comprehensive bike insurance policy to easily cover any losses of your bike in case of theft, accidents, and other incidents. In this blog, let's understand the importance of having comprehensive bike insurance and how to make a claim in case of theft.
Theft Insurance in Bike Insurance
If you can't find your bike in the parking area, there are usually two reasons: either the traffic police towed it away, or it has been stolen. Bikes are stolen more often than cars.
A comprehensive bike insurance policy will cover the theft of your bike. If you don't have this type of insurance, losing your bike could cost you a lot of money.
Losing your bike can be really upsetting, but at least you can feel a bit better knowing that your insurance will help. If you bought your bike insurance online, make sure you check the list of features your policy includes. Even if the insurance is called "comprehensive," it’s always smart to look at the details before you buy it.
Process For Filing A Theft Claim
If your bike is stolen, you need to file a claim with your insurance provider as soon as you can. If you know how to make a claim from when you bought the policy, it should be easy. Here’s a simple guide to the claim process:
File an FIR: In the case of theft, you have to lodge an FIR (First Information Report) at the police station. You must attach a copy of this FIR with your claim form as a verification that this theft happened.
Contact Your Insurance Provider: After filing the FIR, immediately call your bike insurance company. There's usually a time limit for filing a theft claim, so it’s best to inform them as soon as possible. Inform them of the robbery and that you will be filing a claim. Give them your policy number and registration information for your bike and explain to them what happened.
Submit the Documents: Now submit some documents to process your claim. These usually include:
- A signed claim form
- An original copy of the FIR
- A copy of the bike's registration certificate (RC)
- A copy of your insurance policy document
- A copy of your driver's license
- Transfer papers from the RTO (Regional Transport Office)
- The original keys to your bike
No Trace Report: Finally, you will need a certificate from the police that says your bike cannot be found. This report is usually given after a month from the date it was stolen and is important for processing your claim.
Conclusion
Having theft cover as part of your comprehensive bike insurance is essential. It provides financial protection in case your bike gets stolen, which is becoming more common these days. With the right insurance policy, you can have peace of mind knowing that you won’t face a big financial loss. Always make sure to review your policy details before purchasing and be prepared to follow the claim process if needed.
What is theft covered in bike insurance?
Theft cover is one type of cover that is included in comprehensive bike insurance and it is the cover that pays you out if your bike is stolen.
Why is bike theft more common than car theft?
Bikes are easier to hide and steal compared to cars, making them more attractive to thieves.
Do I need to file an FIR if my bike is stolen?
Yes, filing an FIR at the police station is the first step in the claim process when your bike is stolen.
How long does it take to process a theft claim?
It usually takes around a month after submitting all necessary documents and getting the No Trace Report from the police.
What documents do I need to submit for a theft claim?
They ask for a signed claim form, a copy of the FIR, the registration certificate of the bike, a copy of your insurance policy, driving license, transfer papers from the RTO, and the original keys of the bike.
