Important parts of your bike insurance policy wordings you should read

Let’s face it, very few of us actually go through the wordings of our bike insurance plan. We just sign, accept the terms and conditions and proceed with things. Fortunately, in most cases, failing to go through the policy document doesn’t come back to haunt the insured.
However, there are more and more cases doing the rounds where people have faced major disappointment or had their claims rejected because they did not go through their policy document thoroughly.

To keep this from happening to you, we will go over some of the important parts of your policy document you should read before you buy motorbike insurance. Hopefully, it will save you from any unexpected and unpleasant surprises in the future.

1. The exclusions.
This is probably the first part of the policy document you should go through. It will detail all the various events that your motorbike insurance policy does not cover. For instance, most policies will not cover loss or damages caused due to wear and tear or rust.
Similarly, damage to our vehicle’s tires, its electrical equipment and/or its electronics will most likely not be covered. Most plans also exclude plastic parts and consumables such as oil, nuts, bolts, air filters, oil filters, etc.

2. Personal Accident Cover.
Personal accident cover is a mandatory part of every insurance policy. Recently, the IRDAI made it compulsory for all motor insurance plans to have a personal accident cover of at least Rs. 15 lakh for both car and bike insurance.
However, personal accident cover prescribes different types of payouts for different types of injuries. One should go over and understand the claim amounts provided by PAC. The policy wording should contain a clear and simple table illustrating the payout for different types of injuries.

3. Events when your claim might be rejected.
Yes, there are several situations where your bike insurance claim could be rejected. Their scenarios are usually listed and detailed in the policy wordings. It is worth it to go through this section to ensure you never face the disappointment of a rejected claim.
Usually, your claim could be rejected if the damaged is caused when the person behind the wheel is under the influence of alcohol or does not have a valid license. The claim will also be rejected if it is found that the damages are caused intentionally or while racing or while using your car for purposes other than personal use.

4. The miscellaneous parts.
Go through the No Claim Bonus, Insurer Declared Value, Deductibles, Depreciation, and the Add-on sections in your two wheeler insurance policy wordings. Some sections can be a little tricky to understand and have slightly complex workings. Therefore, before you accept the terms and conditions, make sure you got a complete understanding of these aspects.

5. Personal details.
After you get the bike insurance policy document, go through the details mentioned. Check for spelling errors or any discrepancies. If there are any, make sure you get a revised policy document. In the smallest error could cause a lot of problems later on.

We know that policy wordings never make for light or entertaining reading material. However, one must at least skim through the policy documents before accepting the policy. It will ensure you aren’t taken by surprise by any hidden clauses. We hope this has been helpful, good luck and all the best, ride/drive safe!