In today’s fast-paced world, transportation systems like two-wheelers play a major role in daily commuting. The added protection of an insurance policy makes the bike travel all the more convenient. However, if you have lost your two wheeler insurance policy, it will be a big problem from your side to make claims if such situation arises. The insurance policy depicts the insurance type and registration details of the two-wheeler. Hence, lies the importance of this policy.
In this situation, the best way forward will be to seek for a duplicate policy paper.
Here are the guidelines which are to be followed if you have lost your original two wheeler insurance policy -
An FIR Is To Be Filed First
As soon as you lose your insurance policy, the first and foremost thing to do is to file a first information report or FIR at the local police station with the insurance number details, the policy type etc. The FIR attested testimonials are then to be sent to the insurance company to let them know that the two-wheeler policy has been lost and the required action is taken.
Application for the duplicate copy
After filing an FIR, the next immediate action that you can take is to submit an application to the insurance company along with the FIR copy. This application will be for a duplicate copy of the insurance policy held in your name for your two-wheeler.
You have to furnish details like the name, the policy number, the issue date, and the cover type in the application. If there is more than one party in the insurance policy then both the signatures are required. Also, as applicable for a particular insurance company, a minimal fee may have to be paid to the insurer at the time of applying for the duplicate policy.
Sign an Indemnity Bond
If you lose your insurance policy then the insurance company will definitely make a provision to sign an indemnity bond in a non judicial stamp paper for duplicate policy requests. This bond will have the policy number details and your name. This bond will be signed by two other witnesses other than blood relations to add transparency in the system. Also in some circumstances, the insurance company may seek your financial status for the surety of the bond.
Advertisements in national newspapers
You can also publish advertisements in the leading national newspapers regarding the loss of your policy. These advertisement copies you have to send to the insurance company which after verification if found suitable will issue a duplicate policy to you. The insurance company will do a rigorous investigation regarding this and if found suitable, then only a duplicate copy is issued.
These are a few guidelines to be followed when your two wheeler insurance policy is lost or misplaced. Always be prompt in contacting your service provider about the loss of your papers and be clear about the action you have to take thereafter. Since the process may be elaborate, it will be wise to start as soon as you realize that your original insurance papers have been lost.