It can be unsettling even to consider the possibility of your bike being stolen or being harmed by a fire. Depending on your kind of insurance, your insurance provider may provide coverage for fire-related damages, so having a bike insurance policy can provide some relief. Continue reading to learn everything there is to know about two-wheeler insurance’s fire damage coverage.
Does Bike Insurance Cover Damage From Fire?
Yes, coverage for fire-related damages is included in comprehensive bike insurance policies and standalone bike insurance covers. Bajaj Allianz bike insurance may cover the cost of repairs or replacements if a fire damages the bike and necessitates it. The insurance company will pay up to the indicated Insured Declared Value (IDV) if the damage is beyond repair or more than 75% of the insured declared value. Claims are subject to terms and conditions set forth under the motor insurance policy.
Although third-party insurance is required by law, it does not protect against fire damage to your bike; instead, it only covers damage to third parties or their property.
Different Kinds Of Two-Wheeler Insurance That Cover Fire Damage
The types of bike insurance that cover fire damage are listed below.
Comprehensive Coverage For Two-Wheelers
As its name implies, a comprehensive two-wheeler insurance policy offers protection against damage to one’s own bike and third parties. It covers your bike in the event of the following situations. Claims are subject to terms and conditions set forth under the motor insurance policy.
- Damages brought on by a fire
- Harm to a third party
- Property damage to third parties
- A third party’s demise
- Damages brought on by man-made disasters
- Damages brought on by natural disasters
- Automobile theft
- Unintentional damages
Standalone Personal Damage Coverage
As its name implies, a standalone own damage insurance policy only covers damage to your bike. Together with third-party insurance, this coverage is available for separate purchase. Claims are subject to terms and conditions set forth under the motor insurance policy.
- Bike theft
- Damages brought on by a fire
- Accidental damage
- Natural disasters
- Man-made disasters
What Falls Under The Fire Damage Umbrella?
A few items included in a fire damage policy are listed below.
- Natural disasters
- House fire
- Fire brought on by a car crash
- Violence and Riots
What Does Fire Damage Not Cover?
A few exclusions from a fire damage policy are listed below.
- Fire brought on by a mechanical or electrical flaw.
- Fire brought on by your own carelessness or intentional actions.
- Fire brought on by the addition of additional accessories.
- Fire that originates outside of a designated geographic area.
How Can I Make A Claim For Fire-Related Damages?
To file a bike insurance claim for fire-related damages, follow the steps listed below.
- Notify the insurance provider 48 hours in advance.
- Register a First Information Report (FIR)with the local police department.
- Send the necessary paperwork, such as proof of address and identity.
- To inspect, a surveyor will be dispatched.
- You will receive payment up to the insured declared value in the event of a complete loss.
- If the insurer determines that repair or replacement is necessary, they will pay.
Documents Needed To File A Fire Damage Claim
- Copy of the FIR
- Driver’s licence
- Fire Brigade report
- Registration Certificate
- Insurance Policy
It is only possible to submit a claim for fire damage if you have a standalone or comprehensive policy. For a successful motor insurance claim process experience, adhere to the above instructions and bear the above advice in mind.
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Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.