A Quick Guide On How To Claim Two Wheeler Insurance Online

In India, there are a lot of traffic accidents, particularly ones involving two-wheelers. There are a number of factors that contribute to the high number of traffic accidents each year, including bad road conditions, reckless driving, and infractions of traffic laws. The majority of these incidents frequently result in substantial financial damages for the parties involved.

Every individual who possesses a two-wheeler must, therefore, have insurance. The Motor Vehicles Act mandates that all motorcycles operating on Indian roadways carry third-party insurance. However, whereas the Internet has made it simple and quick to buy and renew two-wheeler insurance, the majority of bike owners are not informed of the claim filing procedure. To know more about claiming two-wheeler insurance online, read on.

What Exactly Is A Bike Insurance Claim?

You enter into an agreement with the insurance provider when you buy two-wheeler insurance. The agreement simply stipulates that the insurance company would cover any losses incurred as a result of the accident.

Therefore, let's say that you had a two-wheeler accident while commuting to work and that your insurance is still in effect. You will need to submit a "Claim" to the insurance company in this situation. You will inform the insurance company of your accident through the claim.

What Are The Types Of Bike Insurance Claims An Individual Can Opt For?

You might be familiar with cashless and reimbursement claims if you have health insurance. The same is offered for bike insurance as well. If you are hospitalised at one of the network hospitals of the insurance carrier, you would be able to utilise the cashless claims facility.

Similar to car insurance, bike insurance companies maintain a network of shops. If your bicycle is broken, you may contact one of the garages in your insurance company's network and get it fixed without being concerned about the cost. Your insurance company will pay the garage directly to cover the repair costs.

However, if for any reason your bike also isn't fixed at a network garage, then will first be required to pay the expenses before your insurance company reimburses you for them. But keep in mind that your insurance company will only make payments up to the policy's coverage limit.

When Can An Individual Claim For Bike Insurance?

Following are the scenarios during which an individual can claim bike insurance -

1. Bike Theft - There is a claim made only when a bike is stolen. The insurance provider compensates the insured amount, or the IDV if indeed the bike is not found.
2. Third-Party Liability - A third party responsibility exists if the bike causes any third party, someone other than the insurance provider and the policyholder to suffer from physical harm or pass away. A third-party obligation develops even if the bike causes any third-party property harm. In that situation, the policyholder is monetarily responsible for paying the third party's losses. These financial obligations are covered by bike insurance coverage. Thus, a claim is filed in the bike insurance policy in the event that any third-party liability occurs. In the policyholder's name, the corporation pays the third party.
3. Own Damage - An own damage claim is submitted if the bike sustains damage as a result of natural or man-made hazards. The motorcycle's repair expenses are paid for by the insurance company.

When Is A Motorbike Insurance Claim Rejected?

Following are the situations under which an individual’s claim may get rejected -

1. Unreliable data on the claim form
2. Driving when intoxicated by booze or another drug
3. Driving a car without a licence
4. Inadequate claim documentation Failure to notify your insurance of the accident promptly
5. Carrying two-wheeler insurance that has expired

Endnotes

The absence of a formal claims settlement procedure frequently results in the non-settlement or delay of a sizable number of claims, notably two-wheeler insurance claims. The paperwork process can sometimes hold up claims, causing delays or even rejection.

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How No Claim Bonus Is Calculated In Motor Insurance?

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