Categories Finance

What Should You Do If Loose Your Bike Insurance Policy Document?

Insurance policy documents are one of the most important documents. For this reason, most people either keep them locked in a safe or keep them inside the vehicle and do not open that compartment. The whole idea is to make sure you don’t lose them or misplace them. However, sometimes despite your best efforts, you might lose track of your bike insurance policy documents. Losing important documents is not uncommon, but it is a major problem, especially in the case of bike insurance.

Imagine you lost your two-wheeler insurance policy document. You have already made every effort to find it, searched every nook and corner of your home, but found no success. Now if you are pulled over by the traffic authorities and asked for the documents, you have nothing to resent. Hence, despite being under the coverage of a policy, you will be charged as if you do not have a policy at all. Your two-wheeler insurance policy is an important document without which you could be in danger. This also includes physical and financial danger. Not having the documents makes it harder for you to contact the insurance provider and submit an insurance claim. The best thing to do in this situation is to get a duplicate bike insurance policy document.

How to get a duplicate bike insurance policy document?

The last and only solution for you now is to request your insurance company to issue a duplicate insurance policy document. But getting a duplicate policy document is extremely tricky. You must meet certain prerequisites and follow a process to apply for a duplicate policy document. Here is all you can know about getting a duplicate policy document:

  • Filing an FIR with the police

Just as it is with losing anything valuable, you must file an FIR with the police when you lose the policy documents. Not all insurance companies ask for a copy of the FIR filed with the police for your lost two-wheeler policy document. However, it will definitely help you in requesting duplicate documents.

  • Issue an advertisement in the newspaper

You need to know the region that you lost your policy documents in and publish an advertisement in the newspaper circulating in that area. The advertisement serves as a declaration that you have lost your two-wheeler policy document. Moreover, it ensures that if anyone finds the document, they can contact you and deliver the documents to you. For this reason, the ad needs to include your address and contact details.

  • Execute an indemnity bond

The last document you need to submit to your motor insurance company to apply for a duplicate insurance policy document is the indemnity bond. The indemnity bond must be executed in favour of your insurance company and must be notarised. The indemnity bond will be executed on a non-judicial stamp paper.

After following all these steps, you need to submit an application for a duplicate of your two-wheeler insurance policy. Write an application to your insurance company requesting you to issue a duplicate bike insurance policy. Please make sure that the policyholder’s name, policy number, date of issue and type of insurance you have selected in the application are entered correctly. Attach a copy of the FIR along with the application, the statement issued in the newspaper and the indemnity bond. Remember to keep copies of the application and documents for future reference.

Some insurance companies also allow the process to obtain a duplicate bike insurance online. Following these steps above can help to have the insurance policy to present to traffic officials for inspection as well as at the time of bike insurance renewal. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.