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Bike insurance is one of the few documents that all two-wheeler owners need to have when riding alongside registration and PUC certificate. This requirement is mandated by the Motor Vehicles Act of 1988. Among the various types of insurance plans that can be purchased, a third-party bike insurance is the bare minimum you need to have. Since it is the most basic level of bike insurance available, it covers for injuries and damages to third parties. If you want to seek more than such third-party coverage, a comprehensive policy can be of use. 

Since a having bike insurance is stipulated by the law, not having one can attract hefty fines as it tantamount to a legal offence. To avoid unnecessary legal complications and penalties, it is best to keep it handy when riding your bike. But what if you misplace one? Do you need to buy a policy all over again? No, considering such events are common, bike insurance companies offer the facility to obtain a duplicate copy of your insurance policy. This is the same policy, just reprinted and sent out to you. 

Here’s how you can apply for a duplicate bike insurance bike insurance policy – 

Filing a First Information Report (FIR)

When you misplace a document that holds legal validity such as an insurance contract, the first step is to file an FIR or first information report. This FIR indicates a formal acknowledgement that the rightful owner of this document is not in possession of it anymore and no legal action must be taken. With such FIR reported to the police authorities, you need to submit its copy to the insurance company in the immediate next step.

Informing the insurer

The immediate next steps are to inform the insurance company once you lodge an FIR. This way, the insurance company can proceed to take the necessary steps so you can obtain a duplicate copy.

Placing an advertisement in the newspaper

After intimating your insurance company, you need to print an advertisement in the local newspaper where such an advert is an announcement of the loss of your legal document. In case someone finds it, they can also return it to you. 

Signing an indemnity bond

Since this vehicle insurance policy is a legal document which can be executed, you need to file an indemnity bond on a non-judicial stamp paper mentioning the policy details. This document also needs to be a part of your formal application and FIR to the insurance company.

On satisfaction of the insurance company of these procedural formalities, it then issues a duplicate insurance policy. For online policies, the process isn’t lengthy. Instead, you simply need to login to your account with the insurance company. Here among all the policies bought from the insurer, you can simply redownload the policy that is lost and keep it in your arsenal of vehicle documents. 

These are the detailed steps of what you need to know to obtain a duplicate bike insurance policy. Remember in case you ever happen to lose your policy document. Remember that having a third party bike insurance policy is mandatory as per the law. This makes it imperative to carry a valid policy at all times to avoid legal and financial hassles. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale. 

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