AA Saadi: In Bangladesh, auto insurance is compulsory according to the Motor Vehicle Ordinance of 1973. The primary purpose of motor insurance is to cover ourselves from the financial liability burden incurred by an unintended accident. If a demand is made for compensation rather than a defective car, the insured naturally awaits a swift payout. If the customer does not pay, he is really disappointed. Therefore, to prevent such a scenario, the reasons why the insured may potentially deny the insurance claim should be known.
1. The driver of the bwa 1
For two primary purposes, auto insurance applications are denied without a valid driving license and driving while intoxicated. Because of legal limitations, the insurer can not pay the claim.
2. The strategy is not renewed in due course.
Before this policy expires, it must be renewed. An expired policy can never pay insurance claims. The insurer rejects the argument in this case.
3. Delay in injury notification 3.
The insurer expects the client to notify the insurer quite soon of the insurance claim. If the insured consumer persists in notifying the insurance provider of the insurance claim, the insurance claim will be refused and does not submit the claims. If the vehicle is involved in an accident, it must first be communicated to the insurance provider before being repaired.
4. Assembly – disassembly or replacement of vehicle parts
If a policy is renewed, all of the vehicles are included in the policy in accordance with the prior policy. If some kind of parts are installed or demounted or repaired, the insurer must be informed. If new parts are added or if the car price increases, the cover is covered, by paying an additional premium if necessary. If details on the dismantling or replacement of the components are not provided, the insurance claim shall be refused.
5. Crossing those geographical boundaries
The application for compensation resulting from the accident while driving beyond the geographical limits referred to in the policy is denied. Take Nepal, Bhutan or the Maldives, for example.
6. General harm caused by routine application
The effect of continuous usage are common damages such as decoloration of the vehicle, impaired wheels etc. The insurance policy does not cover all these general losses. The harm incurred by the accident is only covered by insurance claims.
7. Infringement of Ga stumbling terms
When an automobile is insured, the premium is based on the type of use. Private vehicle insurance (PVI), for example, commercially or leased cars (Commercial Vehicle Insurance).
For instance: 1500 cc. An entire insurance policy was taken out by a private car. The car was not used privately and was damaged in a major accident while being rented.In accordance with this policy.
The insurance claim is dismissed in this situation. The policy said that, since the car would be used privately, but the accident occurred during the rental period. This infringes the policy conditions. The most simple and basic procedure for claiming motor insurance is, therefore, to properly comply with all the requirements laid down in the scheme.