Highlights:
★Insurance companies provide compensation for damages caused to vehicles during riots.
★Taking comprehensive motor insurance policy is beneficial.
★Claims for damages caused by riots are covered under comprehensive motor insurance policy.
★Claims can be made by providing FIR copy and key of the vehicle.
In recent times, it has become difficult to predict when and where a riot or fight might occur. Every year, the country suffers losses worth crores of rupees due to such incidents. These incidents not only cause damage to public property but also destroy private property. Vehicles are often damaged or set on fire during riots and fights, causing significant losses to their owners.
Have you ever wondered if insurance covers the compensation for such damages to vehicles? If you are not aware of this, let us enlighten you. Damages caused by riots are covered under comprehensive motor insurance policies. If you have taken this insurance policy, the company will compensate for the damages. However, it is important to note that third-party insurance does not cover any kind of damages to vehicles.
If your bike or car has been burnt or damaged during a riot, the insurance company will assist you in its compensation. You need to inform the police and file an FIR as the first step. While claiming insurance, you will have to provide a copy of the FIR to the company. If you have the key to your vehicle, you will also need to submit it.
It should be noted that in cases of riots, natural disasters, and fire-related damages, insurance companies pay the Insured Declared Value (IDV) of the vehicle. The IDV is the value of the vehicle determined by the insurance company, and the compensation is made based on this value.
In summary:
★Insurance companies compensate for damages caused to vehicles during riots.
★Comprehensive motor insurance policy covers damages caused by riots.
★Claims can be made by providing an FIR copy and the key of the vehicle.
★Insurance companies pay the Insured Declared Value (IDV) for damages caused by riots.
