Motor scooter insurance
On the road, it is impossible to tell with surety what awaits you round the bend. But with motor scooter insurance by your side, you can cushion yourself against the adverse financial repercussions of mishaps that could befall you and your motor scooter. motor scooter insurance offers you cover against every conceivable risk related to your motor scooter : theft or damage to it, death of the driver and passengers in an accident, and damage caused by your motor scooter to another person or property.
All motor scooter insurance policies can be broken down under three heads: Third-party liability. You, the insured, are the first party, the insurer the second party, and every other person the third party. The law makes it mandatory for every motor scooter owner to have at least third-party motor scooter insurance. This covers your liability to compensate any person up to a pre-specified amount, subject to a court ruling, for bodily injuries and property damage caused by your motor scooter. But third party cover is not adequate. With the ever present possibility of accidents and exorbitant repair costs, it makes sense to go beyond compulsory third-party cover, and buy comprehensive motor scooter insurance cover, the nuts and bolts of which are explained in the subsequent two heads.
Theft and own damage. This entitles you to claim compensation in case your motor scooter is stolen or damaged. On the standard policy, the annual premium is a function of the type of motor scooter, its size, its age and the region in which it is registered. The premium is calculated on the basis of something called the insured declared value of the motor scooter, which is basically the depreciated value of the motor scooter agreed upon by the insurer with age. Insurers give a depreciation schedule for up to five years, which is the starting point for deciding the insured declared value of a motor scooter, this insured declared value figure is scaled up or down depending on the condition of the motor scooter. You can get your motor scooter insured for a value greater than the insured declared value calculated on the basis of the specified depreciation schedule, on account of, say, better maintenance or high priced accessories. However, in case of a claim, the onus is on you to justify the higher insured declared value.
Cover for occupants of motor scooter. This section provides cover against death or injury to the motor scooter driver and passengers.
If your motor scooter is damaged in an accident, take it to the garage, and notify your insurer. If the accident takes place in another area, ask your insurer to do a spot survey before getting the motor scooter towed to the garage. The insurer will send a surveyor to inspect the motor scooter within 24 hours of intimation. It is advisable you be present during the surveyor's visit, to answer his questions and put together the papers. The documents you are likely to be asked for are claim form, copy of the insurance policy, copy of registration certificate of motor scooter and driving license of driver, copy of estimate given by garage, police report if the accident is major, or a criminal offense, or if it caused third party damage or resulted in injuries, and fire brigade report, if the loss is due to a fire.
If you have signed up for cashless insurance, all you have to do is take your motor scooter to a service center authorized to settle a claim. The service center will follow up with your insurer, and you will only have to pay the depreciated portion of the claim.
The paperwork is less and procedures are fewer in theft cases. File a police complaint and inform the insurer. If your motor scooter is not found within ninety days, ask the police to issue you a non-traceable report' basically an undertaking by them that they are yet to find your motor scooter and submit it to the insurer, along with the claim form and a copy of the policy. The insurer will wait for ninety days from the date of theft for the motor scooter to be found, failing which the insurer will start the claims process.
To conclude, the motor scooter insurance, the premium payable as percentage of the insured declared value by up to hundred percent. motor scooter insurance policies have a compulsory deductible an arrangement whereby the claim amount up to a pre-specified limit has to be borne by the policy holder. motor scooter manufactured in any country has to be valued by an automobile engineer at the time of getting them insured. There is a thirty percent mark up on premiums payable on motor scooter owned by embassies. Also, in case of damage to the windscreen of such motor scooter, the compensation is limited to three percent of the value of the motor scooter. You can make a claim even if the accident happened while driving on the wrong side of the road or while committing a traffic violation without any criminal intent. Thus, those who own motor scooter, it is compulsory to have a motor scooter insurance policy without fail, as it is very important when driving on the road.
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