Claims » RideSmart Marine Claims | RideSmart Claims | Notice of Loss

In the event of a loss it is important to understand that RideSmart Insurance claims are handled a little differently than conventional motorcycle claims, due to the unique basis of coverage. A review of the following will help you better understand the claims process.

  1. Minimize the Damage
    Take all necessary steps to prevent further damage from occurring. The reasonable costs related to preventing further damage for a recoverable claim will be covered by your policy, if policy limits are adequate.

  2. Report Theft / Vandalism to Police
    Immediately notify the police in the event of a theft loss or vandalism. Make a note of the assigned case number as well as the name of the investigating officer.

  3. Inform your Broker / Agent
    Immediately notify your Broker / Agent so that they may inform Beacon Underwriting Ltd. It is very important that we be made aware of any event, which may give rise to a claim against your policy. Failure to do so may limit your ability to recover under your policy. You may also have to advise ICBC if you are injured or if you have injured someone else or damaged their property.

  4. Do Not Assume Any Liability
    Do not admit liability or take responsibility for any accident without the expressed written consent of Underwriters. ICBC will expect the same of you.

  5. Adjuster
    Once we are notified of a loss we will appoint an Adjuster who will contact you. The Adjuster will investigate the loss and often use the services of an Appraiser to give an opinion as to the extent of the damage. It is important to note that Appraisers do not make decisions regarding coverage. Adjusters determine coverage.

  6. Repairs
    After the Adjuster has determined the damage, repairs can commence. It is up to you to decide upon a repair facility. It is important to be aware that while you are free to have repairs done wherever you choose, Underwriters are only responsible for the reasonable cost of repairs. So if a qualified repairer, other than the one of your choosing, submits a lower bid, Underwriters will only pay the lesser amount. Typically the Appraiser and repairer reach a solution jointly. Many shops are used to dealing with ICBC coverage’s, so are unfamiliar the unique features of Ride Smart.

  7. Invoices
    When repairs are completed you are responsible for paying the repair accounts and forwarding copies of paid invoices to the Adjuster, however the costs for damage repairs are usually paid directly by the Insurance Company.

  8. Approval of Claim
    Before accepting or denying your claim Underwriters will require full supporting documentation. Once a decision has been made regarding coverage you will be promptly notified, and/or payments will be made.

  9. Subrogation
    When another motorist or rider is at fault, your Insurance Company will make attempts to recover the money from those responsible. In many cases your deductible is waived if the other person’s Insurance Company will accept liability. On those occasions when they do not accept responsibility up front, you have to pay your deductible to get your bike on the road. Your Insurance Company will try to recover what they pay out and also what you pay out, such as your deductible or things that are not covered.

 

Your Insurance Broker/Agent can further assist you with any questions or concerns you may have.