![]() Within 4-5 weeks of the cancellation, the RTO will issue a non-use certificate for the bike. When the RTO receives a clearance report from the police, the RC will be cancelled. Then your bike will be nothing more than scrap metal, and the RC will be unregistered. The bike owner must report the entire loss to the Regional Transport Office within 14 days. It is the obligation of the bike owner to revoke the registration certificate of the bike after scrapping it when the insurer declares it a total loss, according to Section 55 of the Motor Vehicle Act of 1988. If you do so, you'll have to turn off your bike's RC as well. The remaining pieces of your bike will be broken down and recycled by the scrap dealer. You can sell the remaining pieces of your bike to a scrap dealer if your bike insurer considers it a total loss. For the replacement of your bike, your insurance will pay the entire insured stated value as the claim amount. If the cost of repairs exceeds 100 per cent of the IDV, the bike will be declared a total loss. ![]() As the maximum amount of claim under the comprehensive auto insurance policy, the insurer will only pay the IDV for damage caused by a natural catastrophe, fire, or accident. In third-party responsibility, the idea of a total loss of a bike does not apply. As a result, if the insurance company is required to pay more than the IDV, it is deemed a total loss. The insured stated value is the maximum amount a bike insurance policyholder may claim for damage or loss of the bike from the insurance company. The entire loss of a bike under a bike insurance policy refers to a circumstance in which the cost of repairing a bike exceeds 75% of the insured declared value (IDV) or the insured cost of the bike. ![]() In case of total loss for your bike, you should cancel your bike registration certificate. Why You Have to Cancel Your Bike Registration Certificate In Case Of Total Loss? The registration will thereafter be cancelled by the registering authorities. The owner must notify the registering authorities within 14 days of the vehicle's total loss for this reason. The owner of a wrecked vehicle that has been declared a Total Loss (TL) is responsible for having the Certificate of Registration (RC) revoked, according to Section 55 of the Motor Vehicle Act 1988. Fraudsters forge the chassis number and engine number on documents relating to such cars in order to give stolen vehicles a new identity. In the most severe situations of accidents, where the bike is entirely wrecked, the owners often sell the wreckage to scrap merchants without remembering to cancel their RC. Cancelling RC To Minimise Risk Of Threat.Risk of Misuse Of Bike Documents That Have Been Damaged.Why You Have to Cancel Your Bike Registration Certificate In Case Of Total Loss?.
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