Shriram Bike Insurance Claim

Shriram General Insurance has efficiently settled the claim of thousands of its policyholders over the years. It has recorded a claim settlement ratio of 77.26 % in the financial year 2019-20.

Shriram General Insurance has digitalized the claim settlement process. It has set up an efficient helpdesk service to resolve the issues of the policyholders. It guides you through the whole procedure of claim settlement so that the policyholder has a hassle-free experience.

List of Documents Required During Claim Settlement

The following documents are required at the time of a claim settlement:

• Policy copy
• Duly filled and signed claim form
• A copy of Registration Certificate (RC)
• Original repair invoice for cashless claims
• Driving license of the person driving at the time of the accident
• Original repair estimate, repair invoice and payment receipt for non-cashless claims.

How To Make Shriram Cashless Bike Insurance Claim?

The claim settlement procedure of Shriram bike insurance policy has been a seamless one as the whole process involves three simple steps:

Step 1: Contact Insurer and Register the Claim

The policyholder should intimate the insurer immediately after the accident, theft or damage of the insured’s bike. For claim intimation, the policyholder should dial one of its helpline numbers which are 1800-300-30000 and 1800-103-3009 or visit the nearest office. For the online claim intimation, follow the simple steps mentioned below.

• Visit the official website
• Click on “Claims”
• Select “Intimate a Claim” from the drop-down menu
• As the page opens, enter your policy number and registration number, Chassis number or engine number.
• The intimation process ends with a claim registration number.

In case of a call or office visit, the company executive provides you with the claim registration number.

Step 2: Survey of Damages

A company surveyor is appointed to assess the extent of the damages caused to the bike during the accident. The surveyor visits the site for verification. In the case of third party property damage, the policyholder should provide its vehicle registration number. One can provide contact details of witnesses as proof. The surveyor estimates the cost of repair and collects the duly filled claim form, policy documents and proves of the incident.

Step 3: Claim Settlement

After the final verification of the surveyor, the insurance company confirms its liabilities. The insured’s bike can be moved to the nearest network garage. After the repair, the insurer pays off the expenses of repair of the insured’s bike to the garage. The claim amount is calculated factorizing the depreciation and deductibles.

How To Make Shriram Reimbursement Bike Insurance Claim?

The policyholder can register a reimbursement claim if he cannot find a network garage nearby or wish to repair it in any other garage. A reimbursement claim ensures compensation for the repair expenses. The reimbursement claim procedure has been discussed below:

Step 1: Contact Insurer and Register the Claim

It is necessary to intimate the insurer after the accident, theft or damage of the insured’s bike. For claim intimation, the policyholder should dial one of its helpline numbers which are 1800-300-30000 and 1800-103-3009 or visit the nearest office. For the online claim intimation, open the official website and follow the simple steps mentioned below.

• Click on “Claims”
• Select “Intimate A Claim” from the drop-down menu
• As the page opens, enter your policy number and registration number, Chassis number or engine number.
• A claim registration number is provided at the submission of the form.

In case of intimation of claim through call or office visit, the company executive provides you with the claim registration number.

Step 2: Survey of the Damages Incurred

A surveyor is sent by the insurer to check the condition of the bike before it is sent for repairs. The surveyor prepares an estimate of the cost of repair. The policyholder has to submit the documents, duly filled claim form and the proves to the surveyor.

Step 3: Repair and Reimbursement

After the approval from the surveyor, the policyholder can send the bike to his desired garage. Submit the bills and receipts of repair along with policy documents to the insurer to receive the reimbursement. The company checks the details and finally disburses the claim amount taking into account all the deductibles and depreciation.

In case of claim settlement under Shriram General Insurance, there are specific grounds that you need to consider so that your claim is not rejected. The insurer rejects a claim for the following reasons:

• Act of negligence
• Misinterpretation of facts
• Driving without a license
• Registration of a fraud Claim
• Claiming wrong coverage amount
• Delay in intimation about the mishap to the insurer
• Driving under the influence of alcohol or intoxicating drugs.

Shriram No Claim Bonus

Every insurance provider including Shriram General Insurance offers a No Claim Bonus with their two-wheeler own-damage covers. Own-damage covers can be purchased either as a standalone own-damage cover or as part of a comprehensive two-wheeler insurance plan. The No Claim Bonus is a reward. Insurance providers give this to their policyholders as a gesture for incentivising healthy driving habits. Therefore, the NCB is only given for a claim-free year. Additionally, the reward is cumulative in nature and goes up to 50 per cent in the fifth consecutive year. Filing for an insurance claim, however, will disable the NCB for that year and the progress the policyholder made with several consecutive claim-free years. Thus, it is always advisable to only file for an insurance claim when the damage is significant and higher than the NCB amount.

To keep the accumulated NCB intact policyholders must renew their two-wheeler insurance policy on a timely basis. Failure to do so will make the NCB inoperative. To prevent such losses insurance providers offer their customers 90 days from the date of expiry as a grace period. Within this time insurance holders have a chance to save their two-wheeler insurance from being cancelled. There are a number of inconveniences that comes with it, the loss of the accumulated NCB being just one. Hence, it is best to be vigilant about renewal dates and set a reminder if possible. Lastly, if the insurance holder wants to shift to a different insurance company or sell their current vehicle to purchase a new one, this can be easily done with a transfer of the NCB. This is because the reward is attached to the policyholder rather than a policy or their two-wheeler.