IMPORTANCE OF INSPECTION IN BIKE INSURANCE POLICY

When purchasing bike insurance or filing a claim, you might wonder about the bike inspection process. You may also be concerned about situations where your insurer could reject your claim.

The Insurance Regulatory and Development Authority of India (IRDAI) allow insurers to carry out thorough inspections before approving purchase requests or settling insurance claims. But is this two wheeler inspection mandatory? Let’s explore every aspect related to two-wheeler inspection.

What is a Two-Wheeler Inspection?

A bike insurance inspection is a process conducted by your insurer to assess the overall condition of your bike and its components. The insurer checks to ensure that your bike complies with government regulations. During the inspection, the insurer might ask for various documents related to your vehicle, such as a Pollution Under Control (PUC) certificate and service records.

 

Why is a Two-Wheeler Inspection Necessary?

• Preventing Insurance Fraud

Insurance fraud has become increasingly common in recent years. Some policyholders submit fake repair receipts or false reports (such as non-traceable reports in theft cases) to claim large sums from the insurer. Inspections are conducted by insurers to prevent such fraud and protect themselves from financial loss.

• Risk Assessment

A bike inspection helps your insurer assess the risk of insuring your vehicle. Inspections also allow insurers to tailor policies to meet your specific needs.

• Early Problem Detection

Inspections can alert you to any issues with your bike, enabling you to address them before they lead to potential road mishaps.

 

When is Bike Inspection Necessary?

1. Policy Lapse

If you fail to renew your bike insurance policy before it expires or within the 30-day grace period, an inspection will be required. The insurer will want to ensure that the bike was not involved in any mishaps during this period.

2. Modifications

If you make changes to factory-fitted components or carry out significant aftermarket modifications, the insurer will inspect the bike to understand its legality and determine the appropriate premium.

3. Ownership Transfer

If you buy a second-hand bike and the policy ownership is transferred, the insurer will inspect the bike before making any changes to the existing policy.

4. Accident or Damage

If your bike is damaged in an accident, natural disaster, or fire, the insurer will appoint a surveyor to assess the damage. Based on the findings, they will estimate repair costs and settle your claim accordingly.

 

Does Inspection Affect the Bike Insurance Premium?

• Bike Condition

If the inspection reveals issues like engine leaks, poor battery condition, or significant dents, the insurer might charge a higher premium, as bikes in poor condition are more prone to accidents.

• Preventing Fraudulent Claims

Inspections can help reduce fraudulent or irrelevant claims. If you accidentally file an irrelevant claim, the insurer may reject it.

• Early Repairs

Inspections help identify existing flaws in your bike, allowing you to repair them early. A well-maintained bike is less likely to be involved in an accident, helping you accumulate NCB and lower your bike policy premiums.

 

Bike Inspection Checklist

1. Your bike’s registration paper and number
2. The chassis number
3. Aftermarket installations
4. Documents like the PUC certificate, original purchase invoice, and driver’s license
5. Clear photographs in the case of accident-related claims (photos must be taken from different angles)
6. Any damages or dents

 

How to Buy Bike Insurance without Inspection?

Inspection is not always mandatory. Most insurers will not inspect your bike unless it falls under specific circumstances mentioned above. You can simply visit your preferred insurer's website, fill out the required details, make the payment, and receive instant coverage. After completion of the inspection the insurer will send you the soft copy of your policy documents at your email Id.

 

Important factors that influence whether you’re approved for insurance include:

• The bike’s age
• Place of registration
• Previous claim records
• The bike’s make and model
• Documents related to the bike

If you already have insurance for your bike, renew it before the existing policy lapses to avoid the need for an inspection.

 

Steps to Buy Online Bike Insurance without Inspection

To purchase bike insurance online without inspection, follow these steps:

• Step 1: Gather all the details about your bike before starting the process.
• Step 2: Visit your insurer's official website and enter your bike’s registration number and previous policy information (if applicable).
• Step 3: Carefully select the insured declared value (IDV), as it affects both your premium and the claim settlement process.
• Step 4: Choose the plan and coverage that best suits your needs.
• Step 5: Make the payment.

 

Why Renew Your Policy on Time Even Without an Inspection?

1. Lack of Coverage During the Grace Period

The grace period starts the day your policy expires and lasts for 30 days. Contrary to popular belief, your bike is not covered for damage during this time. The grace period only allows you to maintain continuity benefits. If your bike is lost or damaged during this period, your insurer will not compensate you.

2. Avoiding Penalties

Riding a bike without inspection and driving a vehicle with a lapsed policy is illegal in India. If caught by traffic authorities, you could face fines.

3. Preserving No Claim Bonus

If you don’t renew your policy on time, you will lose all your accumulated NCB at once. This could result in losing the opportunity to reduce your premium by a significant percentage.

 

Conclusion

A bike insurance inspection is not always mandatory. However, in cases such as a policy lapse or severe damage to your bike, the insurer may choose to conduct an inspection. It’s essential to provide accurate information when purchasing insurance or filing claims. Also, compare bike insurance on platforms like Quickinsure to find a policy that best suits your needs.

 

FAQs On Important of Bike Inspection in Insurance

Q1. How is the number plate of a vehicle used in insurance without inspection?

Ans: In insurance without inspection, the number plate of the vehicle plays an important role. Insurers can use the vehicle's number plate to access important details from databases, such as registration information, previous claims history, and other relevant data. This information helps in assessing the vehicle's risk profile digitally, ensuring a quick and accurate evaluation without the need for a physical inspection.

Q2. What is insurance without inspection?

Ans: Insurance without inspection is a process where insurers use digital tools and data analytics to assess a vehicle's risk profile without requiring a physical inspection.

Q3. Why is insurance without inspection important?

Ans: Insurance without inspection is important because it offers several benefits. It provides convenience by allowing vehicle owners to obtain insurance quickly from the comfort of their homes, eliminates the need for scheduling and waiting for physical inspections, and provides immediate coverage in urgent situations like vehicle purchases or policy renewals.

Q4. When is insurance without inspection used?

Ans: This type of insurance is typically used in specific circumstances such as new vehicle purchases where damage is minimal, policy renewals if the vehicle's condition hasn't changed significantly since the last inspection.

Q5. What regulations apply to insurance without inspection?

Ans: Regulations for insurance without inspection ensure that insurers use reliable digital tools and data for accurate risk assessment. Policies must comply with legal coverage requirements, and consumer protection regulations ensure transparency in policy terms and conditions.

Q6. What are the benefits of insurance without inspection for providers?

Ans: For insurance providers, the benefits include faster policy issuance, enhanced customer experience by providing convenience and easy online comparisons, cost savings through reduced operational expenses, and wider market reach by accessing remote customers and easily expanding into new markets.