Team AckoNov 15, 2022
Just the thought of your bike going up in flames due to a fire can be a disturbing experience. In such a scenario, whether or not your two-wheeler is covered against fire damage will depend on the type of vehicle insurance plan you carry. So, if you want to find out if bike insurance covers fire damage to your bike, read ahead.
Yes, bike insurance covers damages to your vehicle caused by a fire. But, this is covered only if you have opted for Own Damage Cover or Comprehensive Insurance. It offers financial assistance for the repair or replacement of damaged bike parts. And if the bike is damaged beyond repair (termed as Total Loss), the insurer pays you the two-wheeler’s Insured Declared Value (IDV) minus the depreciation and deductibles.
Here are the bike insurance policies that cover damages to your bike due to fire.
As the name suggests, it is your two-wheeler's most comprehensive insurance coverage. It not only offers coverage for third-party liabilities, but it also provides coverage for your bike. This type of bike insurance plan offers the following coverage.
Damage due to fire
Third-party property or vehicle damage
Death of a third party
Natural calamities (flooding, earthquake, etc.)
Manmade calamities (vandalism, riots, etc.)
The Standalone Own Damage Cover offers coverage for the insured bike and not for third-party liabilities. Here are the coverage details of the Standalone Two-wheeler Insurance Policy.
Damage due to fire
Registering a two-wheeler insurance claim if your bike is damaged due to a fire is simple through the online method. Here’s how you can go about it.
File an FIR at the local police station in case your bike faces damage due to fire. This step might depend upon the exact nature of the incident/accident.
It is wise to collect evidence of the incident through photographs or videos. It will help the insurer settle the claim for fire damage per the policy's terms and conditions.
For all insurance claims, it is prudent to inform your insurer, in this case, ACKO, about the fire damage to your bike.
Once you have submitted the requested documents, your insurer will appoint a surveyor to examine the fire damage to your two-wheeler. A report shall be prepared by the surveyor and submitted to the insurer for further processing of the claim.
Once the insurer receives all the required documents, they will settle your claim against the bike insurance for fire damage based on the terms and conditions of the policy.
You may be asked to submit the following documents for your claim against fire damages to your bike.
Soft copy of the Registration Certificate of the bike
Soft copy of the Driving Licence of the rider
FIR (if required)
Report of the fire brigade (if any)
At ACKO, the bike insurance claims process can be initiated through our website or the smartphone app. Here are the steps.
Step 1: Access your account (ACKO) through the smartphone app or website.
Step 2: Select “Claim” against the policy and answer a few questions about the fire damage to your two-wheeler.
Step 3: Upload the required documents and submit your claim.
Here are the inclusions under fire damage to your bike.
Fire caused by a motor accident
Here are the exclusions under fire damage to your bike.
Fire due to electrical or mechanical defects
Fire due to own negligence or deliberate acts
Fire damages occurring outside the specified geographical area
Fire due to the addition of extra accessories.
The compensation calculation process for a bike damaged by a fire is the same as the process for damage caused by any other accident. In case of Total Loss (damage beyond repair), the compensation is based on your bike's Insured Declared Value (IDV) after subtracting the deductibles and depreciation rate of the replacement parts. The rate of depreciation is based on the age of the two-wheeler. Here are different scenarios of claim settlement for fire damage to your bike.
If the fire damage is minor, the insurer shall settle the repair cost minus the depreciation and deductibles.
If the vehicle is damaged beyond repair, the insurer considers it a Total Loss. The maximum payout shall be the IDV stated in the policy minus the depreciation and deductibles.
Here are a few examples of fire damage.
Engine fires: One of the ways a two-wheeler can catch fire is from the engine catching fire due to mechanical issues caused by overheating, faulty wiring, oil leakages, etc.
House fires: If your house catches fire, it can spread to any of your two-wheelers parked inside the house.
Bike accident fire: A bike accident or collision may result in your vehicle catching fire. While this may not always be true, there can be a situation where multiple vehicles are involved in the accident.
Riots and vandalism: If your bike or scooter catches fire due to riots or vandalism, then the insurance shall cover such damages.
If your bike catches fire, ensure you and anyone else surrounding you are safe. Here are some protocols you can follow upon knowing that your bike is on fire.
Inform the appropriate authorities, such as the fire department.
If the fire was deliberate, inform the local police immediately and lodge an FIR.
Collect evidence through photographs or videos.
Find out the stated process for claims on fire damages of motor vehicles.
Comprehensive Bike Insurance or the Standalone Own Damage Cover provides coverage for damages to your insured bike caused by a fire.
Here are some common reasons why your fire insurance claim may be rejected.
You only have Third-party Bike Insurance. If your Comprehensive Insurance/Own Damage Policy is inactive.
Deliberate damage by the policyholder.
Violation of the terms and conditions of the policy.
Fire due to incidence not covered by the policy.
No, a fire cover cannot be purchased as an add-on cover. Instead, it is covered under the Comprehensive or the Standalone Own Damage Bike Insurance cover. Please note, Third-party Insurance does not provide coverage for fire damage to your two-wheeler.
When the bike is damaged beyond repair, the insurer considers it a Total Loss. In such instances, you shall receive the IDV of the vehicle after deducting depreciation and deductibles stated in the policy.
The coverage for fire damage to your e-bike is covered under the Comprehensive Insurance or the Standalone Own Damage cover and not under the Third-party Insurance.
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.
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