HomeTravelWhy You Should Include Theft Cover In Your Bike Insurance?

Why You Should Include Theft Cover In Your Bike Insurance?

Unexpected events like accidents, theft, and damage are also rising due to increased road traffic. Superbike theft and accidents are costly, and stolen bikes are hard to trace as they’re swiftly dismantled and their parts sold. There is a sophisticated market that exists only for this.

Two-Wheeler Theft Insurance

If someone can enter a locked home or workplace and take items, what chance does a bike have when parked outside? There are only two possibilities if you need help finding your bike in the parking space. One explanation is that it was either stolen or the traffic police would have towed it away. A bike has a higher chance of being stolen than a car does every day. Bikes that have been stolen recover less frequently than cars do. This is because bike parts are simple to disassemble, and the market is very competitive, making it simple to sell or resell the elements within a day or two.

A comprehensive bike insurance policy offers coverage for the theft of your bike. If your motorcycle is stolen, you could suffer a significant loss if you don’t have Bajaj Allianz comprehensive bike insurance. ^

How Do You Proceed If Your Bike Is Stolen?

You must follow a step-by-step procedure to submit a claim for a stolen bike to avoid complications with the claim process. Although panicking is likely the first reaction, keeping calm and following instructions is essential to ensure a smooth claim settlement.

  • File An FIR Immediately

You must file a First Information Report (FIR) at a nearby police station for accidental or theft claims. The copy of this report is necessary evidence of the reliability of the theft report and dispels your insurer’s concerns about whether or not this theft was staged.

  • Speak With Your Insurer

Call your insurer to report the theft and let them know you want to file a claim after filing the FIR. As much as you can, describe the specifics of the robbery while giving them important details such as the stolen vehicle’s policy number and registration information.

The odds of recovering two-wheelers in India are slim, so the bike insurance companies need more justification for holding up your claim request. Finally, you must obtain a police certificate stating the vehicle could not be located. The claim request can only be processed with your insurer receiving this certificate, which is crucial. Ensure that you do the process of bike insurance renewal on time.

In conclusion, incorporating theft cover into your bike insurance is a prudent decision for several compelling reasons. Firstly, it provides financial protection in the unfortunate event of your motorcycle being stolen, ensuring that you don’t suffer a significant financial loss.

Theft cover enhances the overall security of your investment, acting as a deterrent for potential thieves. Knowing that your bike is protected can discourage theft attempts.

Furthermore, including theft coverage in your bike insurance policy often offers a comprehensive package that covers various scenarios, including damage due to accidents or natural disasters. This holistic approach ensures that you have robust protection for your motorcycle in a wide range of circumstances.

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^ Claims are subject to terms and conditions set forth under a comprehensive two-wheeler insurance policy.

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.

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