Get the basic knowledge of your motorcycle insurance (Part 2)
In the first part of this article you read about the three types of insurance and what affects their pricing. In this post we want to highlight three things that most riders may not be aware of.
1. The Excess clause can affect your pocket
Keep in mind of the Excess clause in your policy. Direct Asia policies state that you are “required to pay an initial amount or initial amounts applicable to the accident or loss” before they give you any payouts. Do check your policy’s terms and conditions.
2. Your pillons are not covered
Unlike car insurances that cover passengers, your pillons are not covered by your motorbike insurance. So the next time you are thinking of having a thrill ride with your girlfriend think of the possibilities of an accident. She is not covered. You are 100% responsible for her safety.
3. You may be making your insurance unclaimable
You may not get any coverage if,
1. You make fraudulent claims.
2. Your behaviour is on contrary to the law. If you are on the road without a valid road tax or you enjoy the thrill of racing with your fellow riders, it will void your coverage.
3. You use your bike in an unsafe and unroadworthy condition.
4. Someone else is using your bike, and he is not named in the insurance. If you are transferring your bike to another person, you must inform your insurer beforehand.
5. Your motorcycle is being used to carry or deliver goods and food for payment.
6. You have not been honest in giving your information at the point of signing up.
2 documents to look out for when buying your bike insurance
1. Get the Cover Note
The first thing you will get at the point of payment is the Cover Note. This is just a temporary one-page document certifying that you have been covered with the specific insurance coverage. This can be issued by the agent, e.g., bike shop, that you bought the insurance from. It should last 30 days before the insurer sends you the complete policy document.
2. Keep the Certificate of Insurance
The policy document, called Certificate of Insurance, will list out in detail the full terms and conditions of your insurance policy. Most times they are written in legal terms which can make your head spin. Direct Asia does it smarter. Our terms and conditions are all written in a way that anyone with reasonable command of English would understand. What is the point of giving you the policy document if you can’t even understand your extent of coverage.
Making A Claim
Should you get into an accident or your bike got stolen, here are three quick tips on what you need to do:
- Report the incident within 24 hours
- Send your insurer all information that might help them with the claim processing. This includes letters from court, offers of settlements or demands.
- Allow your insurer to examine and inspect damage on your motorbike before you make any repairs. This is important even if the damage is not claimable.
This article serves to give you an overview only. You will need to check with your insurer or call our customer hotline on 6532 2888 to get complete details.
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