India has one the highest number of two-wheelers in the world. Most two-wheeler owners are familiar with the idea of bike insurance as it is mandatory by law. Yet, surprisingly, the thought of filing a claim under the motor insurance policy sends jitters to many.
That’s because the bike insurance claim process is seen as a lengthy and complex procedure. Whereas, in reality, it is extremely straightforward and simple if you have all the relevant documents in place.
So, let us give you a detailed explanation of the two-wheeler insurance claim process to help you prepare for any such adverse situation that may arise in the future.
What is a Bike Insurance Claim?
A bike insurance claim is a formal demand made to the motor insurance company to compensate you for any expenses incurred due to damages to your vehicle arising out of theft or accident.
In fact, not just your vehicle, under a two-wheeler insurance procedure a claim can also be raised to demand compensation for property damage or personal injury related to a third party in case your bike caused a road mishap.
When it comes to the motor claim process, there are two types – cashless and reimbursement. The motor insurance claim process can be different for both types of claims. Let’s understand their meaning:■ Cashless claim: In case your bike gets damaged after an accident and is taken for repair to an authorised garage, which is a part of the network of your insurance company, then you are eligible for cashless settlement of the claim. In a cashless settlement, your repair bill would be paid to the garage directly by your insurer without your involvement. It means you can just drive out of the garage without paying any penny if your claim is accepted and settled. ■ Reimbursement claim: If your bike is repaired at a garage that is not a part of the network of your insurance company, then you would have to settle all the bills yourself from your pocket. Later, you can ask your insurer for reimbursement of expenses by submitting the bills.
Documents required to file a claim
You can make the vehicle insurance claim process completely hassle-free and smooth if you collate all the required documents and bills carefully and submit them along with your claim form. Here’s a list of the key documents required for a bike insurance claim procedure:■ Duly filled and signed claim form ■ Copy of the registration certificate (RC) of the insured bike. ■ Copy of the driving license of the owner/driver of the bike. ■ Copy of the insurance policy document. ■ Copy of FIR, where needed (in case of theft or third-party bike damage). ■ Repair bills and receipts. ■ Other documents as demanded by the insurer (based on specific situations).
Steps for two-wheeler insurance claim process
Here’s a step-by-step guide to help you understand the auto insurance claim process:1. In case of a road accident, first, take note of the registration numbers of the other vehicles involved in the mishap. 2. Immediately intimate the insurance provider about the incident (theft or accident) and the upcoming claim. You can do this by calling on the customer care numbers of your insurance provider or by email or even at your insurer’s official website. 3. The insurance provider will ask for some basic details and provide you with a claim reference number for future correspondences. It will also guide you on the motor insurance claim procedure, document requirements and network garages. 4. You also need to visit the police station and file an FIR in case of theft or third-party claims. 5. Your insurer will then assign you an official inspector/surveyor who will examine the damage sustained by your bike. The surveyor may visit the location of the incident or your chosen garage. 6. Fill up and submit the claim form to your surveyor along with the required documents like driving license, RC book, police FIR, etc. 7. Based on the inspection of damages, the surveyor prepares a claim estimate and sends it to the insurer. 8. In the case of cashless settlements, the repair work starts at the network garage as soon as the insurer approves the claim estimate. After the repair is done, the insurer settles the final bill with the garage directly. 9. In case of reimbursements, you need to pay the garage yourself and then submit all the bills and receipts to the insurer later. 10. After due verification, the insurance company settles the claim usually within 30 days of receiving the last necessary document.
Disclaimer: The above information is indicative in nature. For more details on the risk factor, terms and conditions, please refer to the Sales Brochure and Policy Wordings carefully before concluding a sale.