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What if You Have Lost Your Two Wheeler Insurance Documents?

People are becoming increasingly fond of bikes and scooters. They can traverse narrow, congested paths that are unimaginable for cars, thus increasing their popularity of use. But, sometimes, riding two-wheelers can be dangerous.

Because we live in the fast lane, one cannot afford to be late by even an instant. As a result, there are often misunderstandings, last-minute or uncalculated manoeuvres, or simply an error of the driver's judgment leading to an accident. In many cases, nobody is to blame, and the reason is merely a blind spot. Even though we might try to avoid an accident, many circumstances are beyond our control. The accidents can sometimes be fatal and cause irreparable damage to the people and the two-wheelers involved in the accident.

To ensure everyone around us is safe at all times, we need insurance.

What Is Insurance?

Insurance covers the costs of damage and injuries sustained while also aiding us in a legal battle. Moreover, it can serve as a preventive measure in many cases. Usually, insurance companies help to meet the needs of the insurance by signing a legal contract with us, to aid us in times of distress. Different insurance policies work differently, and while all of them have many terms and conditions, we must choose the insurance plan that is best for us. Insurance helps us get back at least a part of the value of damage, and even compensation for injuries and death.

What Is Two-Wheeler Insurance?

Two-wheeler insurance covers the damage caused to, or from, our two-wheelers, and are primarily of two types. Third party two-wheelers only covers damage to a third party i.e. people and property that isn't yours. Comprehensive two-wheeler insurance covers damage caused by your two-wheeler to other people and their property. Additionally, two wheeler insurance also covers property damage and injuries sustained at your end.

Is Two-Wheeler Insurance Mandatory?

As stated under the Motor Vehicles Act, 1988, it is mandatory to buy third-party two-wheeler insurance. Non-compliance with this rule can result in being fined a hefty sum and even a jail term. However, you should go a step further and cover yourself from damage with comprehensive two-wheeler insurance. It covers you from accidents, as well as unforeseen circumstances like theft, natural disasters, and man-made disasters with its special add-ons. You may even be able to secure insurance for the passengers on your two-wheeler or get road assistance from some two-wheeler insurance firms. The goal of the mandatory two-wheeler insurance is to keep roads safe from accidents and take necessary steps to prevent loss of property and life.

What Can Happen If You Lose Your Two-Wheeler Insurance Documents?

You must carry your two-wheeler insurance documents, driving license, and registration certificate with you while riding a two-wheeler at all times. It is mandatory to have two-wheeler insurance documents for bikes, scooters, or any other two-wheeler motor vehicle under the Motor Vehicles Act, 1988. Failure to produce insurance documents can result in massive fines if found by the traffic police. Moreover, you will be fined by traffic police many times until you get a license.

It is wise to stop using your two-wheeler until you find your insurance documents. If, in any case, you or a third party is involved in accidents, there will be nobody to aid you financially or legally in the matter. Hence, it is of utmost importance to keep your two-wheeler insurance documents safely and remember where you have kept it. You must also renew your insurance and keep it up to date.

Preventive Measures

One of the preventive measures that people are using these days is by using a soft copy of the insurance document. Physical insurance copies face risks from fire, water, wind, or even earthquakes and are bound to be misplaced or get lost. For this reason, many insurance companies provide soft copies as well as renewals of the two-wheeler insurance online, almost instantly. Hence, you can easily carry your soft copy wherever you go. You can also almost immediately retrieve and produce your two-wheeler insurance documents from the insurance company's server at any time. Always keep your documents at a safe and secure place.

Tips to Follow If You Have Lost Your Two-Wheeler Insurance Documents

  • The first thing you need to do is conduct a thorough search for your two wheeler insurance documents in your house, office and vehicle itself. There is a high probability that it is a false alarm and has fallen somewhere or put in another place.
  • If you are unable to find your two-wheeler insurance documents, discontinue using your two-wheeler until you have replaced the documents or found your insurance documents.
  • You need to apply for a duplicate copy of the two-wheeler insurance and wait for the documents before you can begin riding your bike or scooter.

Steps to Follow to Get Duplicate Two-Wheeler Insurance Policy

  • You need to file a First Information Report (FIR) to the nearest police station declaring that your two-wheeler insurance paper is lost. Mention the policy number of your two-wheeler insurance, the type of insurance, and add-ons applicable to the insurance policy.
  • Attach the FIR copy along with the FIR application and submit a written appeal to your insurer for reissuing the insurance documents.
  • Publish an advertisement in the local newspaper stating that you lost your papers, along with your name, insurance policy number, name of the insurance company, and registration number of the two-wheeler insurance company.
  • You also need to sign an indemnity bond with your full name and other policyholder details. Sign this bond in front of two witnesses and reaffirm it by a notary.

For immediate assistance, you can call your insurer to send a copy of your documents via mail or contact customer support and inform them about your predicament. Mention your registered mobile number and email address. Download a copy of the insurance policy online if the company offers the services for renewal or download.

Final Take

In the end, two-wheeler insurance not only covers up the damage or a portion of it, but it also takes care of the legal issues as well. Hence, it will be wise not to lose it in the first place.

Recommended Link:Two Wheeler Insurance Renewal Benefits