Home / Two-wheeler Insurance / Articles / Why is Bike Inspection Necessary for Insurance?
Team AckoOct 14, 2022
Bike inspection is a process which is done for the verification of the existence and the documents of a bike. While inspecting the bike, the condition of the bike, accessories and the present options are checked. Bike insurance frauds, in order to make financial gains, have become very common now but the bike inspections become a deterring factor.
In the present times, it has become very simple to do an insurance fraud and this leads to the misuse of insurance policies. Insurance companies do not want to suffer losses on account of frauds The two-wheeler insurance premium calculator takes this risk factor into account and helps you calculate the two wheeler insurance premium amount.
Some instances of frauds that happen in bike insurance are:
Claiming a loss of a non-existent bike
Filing a claim for a damage that had happened before the insurance policy was purchased
Buying a two wheeler insurance for a bike which has been salvaged
The bike inspection reduces the premium for the insurance in the following ways:
Inspections reduces the number of false claims.
The chances of an accident reduce when well-maintained bikes in good working condition move on the road.
When an insurance company inspects a bike, they can assess the risk factor and once they are satisfied, the premium of the bike can be customized to suit individual needs.
At the time of a buying a new bike insurance policy or at the time of renewal, the inspection process is carried out. Some other times when the inspection is done are:
At the time of two wheeler insurance renewal online or offline, if there has been a break in insurance policy leading to a lapse of coverage, the insurance company wants an inspection done.
If there is a change in the policy type, a bike inspection is done. Also if new accessories or equipment have been added or the ownership is changed, the insurer prefers an inspection before making the changes to the existing policy.
The insurance company also conducts an inspection when a claim has been registered for any damage. The surveyor, in this case, inspects the car and ascertains the extent of damage and gives an estimated cost of repairing the bike.
The insurance companies sometimes charge for the inspection whereas there are some who provide free services and the inspection of the bike is done at the doorstep of the insured. Many companies do not conduct an inspection at the time of two wheeler insurance renewal online when there has been no break in the policy. If only third-party insurance is bought by the insured, the insurance company does not need an inspection.
The inspection process is carried out to check the physical existence of the bike and also to see the existing damage so that no false claims for repairs of these damages are done at a later date. The following things are checked at the time of the bike inspection:
Vehicle registration number of the bike
Photograph from various angles
Chassis number of the bike
Any dents and damages are recorded and noted separately
Inspection is an important part of bike insurance. Though it is essentially done to avoid fraud claims and ensure fewer losses for the insurance company, it also has its own advantages for the insured. The two-wheeler insurance premium calculator takes into account several factors. After an inspection, the risk for the insurance company is less, thus the premium reduces. Inspections are for the good of the insured and thus, one must never try to avoid them. With the advent of technology the system has become easier and faster making it more convenient for the insured and the insurer.
Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on industry experience and several secondary sources on the internet; and is subject to changes. Please go through the applicable policy wordings for updated ACKO-centric content and before making any insurance-related decisions. Explore More:
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