Modern bikes are nowadays fitted with light fiber parts to make them light, economically efficient, and beautiful for the owners. However, because these are fragile, they readily break easily when accidents happen, thereby making owners question whether their insurance covers such parts.
Modern bikes are nowadays fitted with light fiber parts to make them light, economically efficient, and beautiful for the owners. However, because these are fragile, they readily break easily when accidents happen, thereby making owners question whether their insurance covers such parts.
In this article, we are going to find out if the fiber parts of a bike are included in bike insurance, which conditions apply, and how damages are claimed. Knowing these things will enable you to make better decisions regarding bike insurance and the care that should be taken.
Are Fiber Parts Covered Under Bike Insurance?
The short answer is yes, but the coverage depends on the type of bike insurance you have and the terms of your policy.
1. Third-Party Liability Insurance
What It Covers: Third-party liability insurance only covers damages caused to a third party's property, vehicle, or injuries.
What It Excludes: It does not include damages to your bike, including its fiber parts.
2. Comprehensive Bike Insurance
What It Covers: Third-party liability and damages to your bike are included in this comprehensive insurance. This includes fiber parts, among others.
Add-On Covers: If you need comprehensive coverage, then add-ons like Zero Depreciation Cover become the necessity of life, because you will get the full claim amount without the depreciation factor on fiber parts.
Pro Tip: Go for a comprehensive policy with zero depreciation cover if your bike contains high fiber parts.
How Does Zero Depreciation Cover Help?
The fiber parts depreciate more than the metal parts, and the insurer subtracts this from the claim settlement. A Zero Depreciation Cover is also known as a bumper-to-bumper policy. This cover provides for the replacement or repair of fiber parts at their cost without depreciation.
Example:
With Zero Depreciation: The insurer does not deduct a percentage of the cost of the fiber part on account of its age.
Zero Depreciation: The insurer pays for the complete repair or replacement cost.
| Age of Bike | Depreciation on Fiber Parts |
|---|---|
| Less than 6 months | 0% |
| 6 months - 1 year | 5% |
| 1-2 years | 10% |
| 2-3 years | 15% |
| 3+ years | 25% |
Common Fiber Parts on a Bike That Can Be Insured
Here are some of the fiber parts commonly found on a bike and whether they are covered under comprehensive insurance:
| Fiber Part | Covered Under Insurance | Conditions for Coverage |
|---|---|---|
| Fuel Tank Covers | Yes | Covered under comprehensive policies with repair costs subject to depreciation. |
| Side Panels | Yes | Fully covered with Zero Depreciation add-on. |
| Fenders | Yes | Included in standard comprehensive insurance. |
| Headlight Housing | Yes | Claims accepted for accidental damage. |
| Fairings (Sports Bikes) | Yes | Ensure zero depreciation cover for full value. |
Claim on Damaged Fiber Parts of the Bike
If any of the fiber parts of your bike are damaged, follow the steps given here to file a claim on it.
- Step 1: Report the Damage to Your Insurer
Notify your insurance company within hours of the incident. Include details such as the date, time, and cause of damage.
- Step 2: Document the Damage
Take clear photographs of the damaged fiber parts. Also, retain any invoices for previous repairs or modifications.
- Step 3: File a Claim
Submit a claim via the insurer's website, app, or customer service:
Attach the documents:
Copy of the insurance policy.
RC of the vehicle.
Photographs of the damaged parts.
FIR, if needed (for example, in cases of theft or third-party involvement).
Step 4: Inspection by the Insurer -
The insurer will send a surveyor to inspect the damage. Have the surveyor check every broken fiber part so that nothing is missed as a claim.
Step 5: Settlement
If the settlement is approved, the insurer will either make a refund of the cost of repair or pay to the network garage directly.
Things to Be Careful About and Exclude
Though comprehensive insurance provides coverage on fiber parts, there are some scenarios whereby claims would be rejected:
Wear and Tear: Normal wear and tear on fiber parts are not covered.
Negligence: Damages arising from negligence, such as failure to lock the bike in a safe place, are not covered.
Unauthorized Repairs: Repairs made in non-network garages without prior approval from the insurer may be null and void.
Intentional Damage: Any intentional damage to the bike is not covered.
How to maximize the coverage of fiber parts.
Zero Depreciation Cover: This add-on ensures that the fibre parts are completely claimed without considering depreciation.
Regular Maintenance: Maintain your bike in perfect condition to avoid disputes in claims.
Network Garages: Always get your bike repaired at an insurer-approved garage for cashless claims.
Renew Your Policy in Time: Avoid lapses in policy to avoid interruptions in coverage.
Conclusion
Fiber parts are the integral parts of modern bikes, making them both good-looking and performance-oriented. Complete insurance covers all such parts. However, including a Zero Depreciation Cover provides complete financial cover against damage. Maximize your coverage by knowing all about your policy terms, keeping your bike well maintained, and renewing on time.
For the best two-wheeler insurance options, visit Coverfox Two-Wheeler Insurance and protect your bike, along with its fiber components, with ease.
Frequently Asked Questions
Q). Does comprehensive insurance cover all fiber parts?
Ans: Yes, comprehensive insurance covers all fiber parts, subject to policy terms and conditions.
Q). Can I claim minor scratches on the fiber parts?
Ans: Generally, minor scratches are cosmetic damage that does not qualify under claims unless covered under specific add-ons.
Q). How does Zero Depreciation Cover affect claim approval for fiber parts?
Ans: Zero Depreciation Cover ensures the insurer reimburses the full cost of repairing or replacing fiber parts without depreciation deductions.
Q). What documents are needed to claim insurance for fiber parts?
Ans: You’ll need:
- Policy copy.
- RC of the vehicle.
- Pictures of the damage.
- FIR (if applicable).
Q). Does insurance cover modified fiber parts?
Ans: Modified parts are usually not covered unless explicitly declared and approved by the insurer.
