Why Delaying Bike Insurance Is Not a Good Idea?

It is always mentioned in the insurance policy documents that one must raise a claim within 24 hours after an accident. Though many people know about this rule, some people think that they can raise a claim anytime after an accident. Delaying bike insurance is not a wise idea as it may lead to the rejection of your claim raised by you.

The chances of delaying a claim increase if you have not read the policy papers properly. Also, sometimes, you might not be able to contact the insurer within 24 hours because of injuries sustained during the accident. If you can produce proof and details about the injury, the insurance company might consider it as an exception and process your claim. Insurers do not accept claims raised after 24 hours of the incident due to these reasons:

Fake cases

There have been many fake claims in the past where the insurance holders have tried to use delayed claims to plant fake proofs and evidence. In case of late claims, the insured gets time to create a case but the insurance companies only consider the facts that are present right before them. Therefore, you must avoid filing a late claim even if your case is genuine.

Set procedure

An insurance company follows a set procedure and timeline to analyze an event, estimate the liabilities, and make the necessary arrangement for protecting the interests of the insurer. Therefore, if you miss filing the claim immediately, the insurer will not be able to follow the procedure and the chances of your claim getting approval will be minimized.

Contacting witnesses

If you raise the claim immediately, a bike insurance provider will be able to contact the witnesses and third-party involved in the accident. It will help them to gauge the damages that your vehicle has suffered during the accident and this helps them to estimate the expenses required to repair it. However, all of this goes for a toss if you contact the insurer after 24 hours.

To get complete information on bike insurance policies and the things that you should know in advance before purchasing one, you can visit the website of Bajaj Finserv. The details of several insurance policies are available here and you may also be able to come across an insurance policy that is tailor-made for you.

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