How To File Bike Insurance Claim In India?
Updated On Jul 19, 2021
In this article, you will get to know about the steps to file for an insurance claim.
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Bikes are every owner’s first love and purchasing bike insurance is the best protection you can offer to it. Your insurance policy will protect you from various financial liabilities that you will face on owning a bike. The most common expenses are bike repairs, third-party compensation, and medical expenses. The situation that is insured depends on the policy that you select for your bike. Claiming your bike insurance should be a hassle-free process. Read this article to find out how you can claim your bike insurance.
How To File A Bike Insurance Claim?
There are usually two types of bike insurance settlement claims. Cashless claim and reimbursement claim. The cashless claim is primarily for repairing your bike in the network garage of the insurance company without needing to pay the repair bills. On the other hand, Reimbursement claims are for cases when you want to repair your bike in any other garage and claim the amount of the bill from the insurance company post repair.
Filing a bike insurance claim is usually a hassle-free process. The following is the general protocol that is followed to claim your bike insurance -
Stop And Check For Damages
In case you run into an accident, the first step that you should take is to evaluate the damage that has been caused to your bike and the third-party’s vehicle. Check if you have sustained any injury.
File An FIR
After you have checked for damages, file an FIR at the nearest police station. Take a copy of the FIR and collect evidence. Collect the pictures of the accident if possible. Take the details of the third party like the contact number, name and address.
Inform Your Insurance Provider
This is the most important step in claiming bike insurance. Inform your bike insurance company about the accident and the damages caused. You will be given a form which must be filled with the details of the accident. Make sure to fill the form with complete honesty.
The Insurance company will then send officers to survey your bike and write a report on the damages sustained by the bike. Be honest with the insurance claims team and don’t interrupt them when they are surveying your bike.
Documents For Bike Insurance
When you file a bike insurance claim, make sure that you have all the documents that are required. These are the must-have documents for claiming bike insurance-
- Copy of the Bike Registration Certificate
- Duly filled and signed claim form
- Copy of valid Driver's License
- Copy of the first two pages of the bike insurance policy
- Copy of the FIR
- Original repair bill along with cash receipt and proof of release.
After the reports have been given, your bike insurance settlement claim will be approved if you are eligible. Thus, you will receive the claim amount with which you can repair your bike or compensate for the loss of the third party or pay your medical expenses.
Common Reasons For Rejection of Bike Insurance Claim
Rejection of your bike insurance settlement claim could happen if you have not adhered to the terms and conditions listed in your policy. The following are a few reasons why your bike insurance claim might have been rejected -
1. Not abiding by the law while riding the bike. This could be riding while intoxicated, underage driving, not following traffic rules, etc.
2. Hiding the truth of the accident from the insurance claims officers. Not telling the true narrative of the accident could cause rejection of your claim as insurance is based on the principle of utmost good faith.
3. Accidents that were intended to cause self-harm.
4. If you ride a second-hand bike with a policy under the name of the previous owner.
5. If you get your bike repaired without informing the insurance company.
Accidents are tragic incidents that may be very frustrating and burdening. Arranging finances at that taxing time could be stressful. This is why having bike insurance that will take care of your finances will lift the burden off your shoulders.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.