Cholamandalam Bike Insurance Claim
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Cholamandalam Bike Insurance Claim
Cholamandalam General Insurance has successfully maintained a seamless claim settlement procedure to provide a hassle-free experience to the policyholders. It has a claim settlement ratio of 85.89% in the financial year of 2019-2020.
Cholamandalam has simplified the claim procedure to facilitate its policyholders. It has set up an efficient helpdesk service to assist its policyholder at any step of the procedure. The requirement and process of claim settlement have been elaborately discussed below.
Documents Required for Cholamandalam Bike Insurance Claim
Following documents are required at the time of settling a bike insurance claim
- Duly filled and signed claim form
- A copy of Registration Certificate (RC)
- Driving license of the person driving at the time of the accident
- Policy copy
- Original repair estimate, repair invoice and payment receipt for non-cashless claims
- Original repair invoice for cashless claims.
How To Make Cholamandalam Cashless Bike Insurance Claim?
Cholamandalam has designed a simple procedure to settle claims of its policyholders without any hassle. The steps of the claim settlement procedure have been discussed below:
Step 1: Contact the insurer
It is necessary to inform the insurer immediately after the theft, accident or any damage to the bike. You can initiate the process by calling their toll-free number 1800 208 5544 or by sending an email at firstname.lastname@example.org. You may also intimate a claim by visiting the nearest office. In case of an accident, note down the number of the other vehicle. Collecting the details of the witnesses can help in the claim settlement process.
Step 2: Register Claim
After the claim intimation, a representative of Cholamandalam General Insurance calls you back. You should provide the following information to the representative.
- Policy number
- Location of accident
- Loss details
- Further details related to the accident
The representative guides you through the procedure of claim settlement.
Step 3: Survey of Damages
A company surveyor is appointed to assess the extent of the damages caused to the bike during the accident. In the case of third party property damage, you should provide its vehicle registration number. You can even provide proof such as contact details of witnesses or photos of the insured’s bike after the accident. In case of a major accident, the surveyor may conduct a site inspection. The surveyor prepares a cost estimate of repair and collects the duly filled claim form, policy documents and proves of the incident.
Step 4: Claim Settlement
After the final verification of the surveyor, the insurance company confirms its financial and legal liabilities and pays all the expenses of repair of the insured’s bike to the garage. The claim amount is calculated taking the deductibles and depreciation into consideration.
How To Make Cholamandalam Reimbursement Bike Insurance Claim?
Cholamandalam provides its policyholders with the privilege to reimburse the expense of repair of the insured’s bike if it is repaired in a garage other than network garage. The policyholder can undergo the reimbursement by following the simple steps mentioned below:
Step 1: Contact the insurer
The insurer should be informed immediately after the theft, accident or any damage to the bike. You can intimate a reimbursement claim by calling their toll-free number 1800 208 5544 or by sending a mail at email@example.com. You may also visit the nearest branch to inform the insurer. It is advisable not to move the insured’s bike before the survey.
Step 2: Register a claim
The executive of the insurance company reverts back to you after the claim intimation. You have to inform the executive about the policy number and details about the accident. The executive informs you about the procedure and provides you with a claim registration number.
Step 3: Survey of the Damages Incurred
After registering the claim, a surveyor is sent by the insurance company to the location of the mishap to inspect the extent of the damages incurred to the bike due to the accident. After the assessment of damage, you can move your bike to your desired garage for repairs.
Step 4: Repair and Reimbursement
After the completion of the repair, you have to send the original bills and receipts of repair to the insurer along with policy documents and other required documents to make the request for the reimbursement claim. The company verifies the details and finally disburses the claim amount after taking into consideration all the deductibles and depreciation.
Common Cholamandalam Bike Insurance Claim Rejection Reasons
Cholamandalam General Insurance has set some standards that every policyholder needs to follow to settle a claim. The insurer rejects the claim under the following circumstances.
- Act of negligence
- Misinterpretation of facts
- Registration of a fraud Claim
- Lack of details required to process the claim
- Delay in intimation about the mishap to the insurer
- Driving without a licence or under the influence of alcohol or intoxicating drugs.
Cholamandalam No Claim Bonus
With a standalone own-damage cover or a comprehensive cover for two-wheeler insurance providers offer No Claim Bonus as a benefit. This is offered only for claim-free years. The reward is cumulative in nature, in other words, it gives higher returns with every consecutive claim-free year. The maximum NCB a policyholder can receive is 50% which can be reached in the fifth consecutive claim-free year. This reward is easily disabled. Any claim made, no matter inconsequential, leads to the nullifying of the NCB of that year and the progress made with consecutive claim-free years is lost. Therefore, every policyholder is told to only file for a claim when the claim amount is significantly higher than the NCB.
Furthermore, to maintain the No Claim Bonus insurance holders are also expected to renew their two-wheeler insurance policy on time. In case the policy is not renewed on time the accumulated No Claim Bonus will be lost. Hence, it is advised that every policyholder set up a timer well in advance of the expiry date. Insurance providers such as Cholamandalam General Insurance offer their customers a grace period to avert such losses. Thus, 90 days from the date of expiry the insurance holder still has a chance to renew their policy, but any delays after this date lead to the cancellation of the policy. In such cases, the NCB is also lost. When renewing your two-wheeler insurance policy you may feel the need to switch to a different insurance provider. This can be done without any stress as the NCB is transferable. It remains intact when customers shift insurance providers or sell their old two-wheelers and purchase new ones.
Explore Cholamandalam Bike Insurance
Must Read Articles before buying Cholamandalam Bike Insurance
- Read this article to know why MS Cholamandalam is an ideal choice for purchasing two-wheeler insurance.
- Explanation of add-on cover in Cholamandalam MS bike insurance. Go Through this article for the ad-on coverage in Cholamndalam MS.
- There are many add-on covers in two-wheeler insurance. Here’s are the top 5 add-on covers that you should take when it comes to your bike insurance.
- Want to apply for a two-wheeler license? What is the eligibility to get a motorcycle license? What documents are required to get a motorcycle license?
- Drinking and driving can be an extremely dangerous activity. Know penalties for driving under the influence of alcohol.
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Cholamandalam Bike Insurance Claim FAQs
From where do I get the claim form of Cholamandalam bike insurance policy?
You can download the claim form of Cholamandalam bike insurance policy from its official website or reach out to the nearest branch and collect the hard copy of the claim form.
How do I claim insurance if the bike is stolen?
In case of theft of the insured’s bike, you need to lodge an F.I.R at the nearest police station. You have to submit the photocopy of the FIR and other documents, the bike keys and a non-traceable certificate to the insurance company in order to register a claim.
Do I need to carry my driving licence while claiming Cholamandalam bike insurance?
Yes, you need to carry your driving licence while claiming Cholamandalam bike insurance. You should make sure that the driving licence is valid.
How to check claim status for my Cholamandalam bike insurance?
You can check your Cholamandalam bike insurance through its official website in the section of “Track My Claim”. You just have to provide policy number, claim number or vehicle number in the required segment to track the status of the claim.
Is the bike insurance claim process time-bound?
Yes, the claim process is time-bound. It is advisable to inform the insurer within 24 hours of the incident.
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