Steps To File Bike Insurance Claim At ICICI Lombard

Your bike is your prized possession and any damage caused to your bike due to accidents can be very traumatic. Arranging finance at such a traumatizing time can be more stressful. Thus, having a bike insurance policy is beneficial as it provides you financial assistance to repair the damages sustained by your bike as well as compensate for the damages sustained by the third party’s vehicle. Filing for a claim settlement is simple and does not require much effort. However, there are a few things that you should keep in mind when you are filing an insurance claim at ICICI Lombard.

How To Claim Bike Insurance At ICICI Lombard? 

Filing a bike insurance claim settlement at ICICI Lombard is simple and seamless. You can follow the following steps to claim your bike insurance without hassle - 

1. For Third Party Insurance Claim 

• Collect the contact details of the third party involved in the accident and inform ICICI Lombard about the accident. 
• The insurance company will then forward your claim to the Motor Insurance Claims Tribunal to get approval. 
• The tribunal court will then give the verdict and decide the claim amount after hearing from both parties. 
• ICICI Lombard will then transfer the settlement amount to your bank account. 

2. For Own Damage Cover 

• In case of any damage to your vehicle, make sure to inform the insurance company immediately. 
• You will be required to submit certain documents to file the claim. You will also be required to submit a copy of an FIR if necessary. 
• The insurance company will then appoint a survey team to inspect your car and make a report on the damages. 
• The surveyor will approve your claim if the team finds your claim to be genuine and send your bike to the garage for commencing repairs. 
• If you repair your bike in a network garage, the insurance company will directly settle the repair bills and you will have to pay only the mandatory deductibles. 
• In case of a reimbursement claim, the insurance company will transfer the claim amount to your bank account through National Electronic Fund Transfer (NEFT) after checking the repairs invoice. 

3. For Theft or Extensive Damage (More Than 70%)

• File an FIR at the nearest police station in case of theft and inform your ICICI Lombard immediately. 
• You will be required to submit the relevant documents to the insurance provider which they will verify. 
• In case of extensive damage, they will send a survey team who will inspect the damages and make a report. 
• You will also have to obtain a non-traceable certificate from the police station in case of theft and submit it to the insurer. 
• ICICI Lombard will then approve your claim and transfer the amount that is equal to the Insured Declared Value of your car to your bank account. 

Points To Consider  While Claiming Bike Insurance At ICICI Lombard

Filing a claim settlement at ICICI Lombard is definitely simple. However, there are certain exclusions that you must take note of to avoid the rejection of your bike insurance claim. The following are the points that you should keep in mind to avoid the rejection of your bike insurance claim - 

1. Be honest with your insurance provider. 

2. Make sure to follow the laws while riding your bike such as wearing a helmet, carrying legal documents related to the bike, etc. If the insurance inspection team finds that the rider wasn’t following traffic rules at the time of the accident, the claim is likely to be rejected. 

3. Make sure to go through the policy documents and check if the accident’s circumstances are covered by your policy. Filing a claim for a situation that isn't covered by your policy may lead to rejection. 

Take Away

Having bike insurance is mandatory for every bike rider according to the Indian Motor Vehicle Act. Thus, make sure to purchase a bike insurance policy that provides optimal coverage to avoid expensive repair bills and legal complications.

Also Read - Is There A Grace Period For Bike Insurance Renewal?

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.