5 min read
How many times in a year is it advisable to raise a claim for bike damage with your insurance company? Is it only allowed once or can you file multiple claims too? Let’s answer these questions below.
Getting bike insurance is a mandate in India before beginning to drive the vehicle on the road. This is essentially done in the interest and safety of the bike owner. In case of any unfortunate accident and/or damage caused to the bike and self, a bike insurance policy comes in real handy, covering all costs involved.
So basically, your motorbike insurance is the key to all your bike-related problems likely to occur in future. But the question arises: how often can you use this key? Let’s find out.
According to the motor insurance rules, your two wheeler bike insurance policy does not impose any restrictions on the number of claims that you can raise in a year. However, as a bike owner, it is good to know that each claim that you raise has an impact on your insurance plan purchased.
For instance, if you choose to file more claims for self or third-party bike damage in 1 year, it tends to increase your premium amount payable. Also, filing multiple claims has a direct effect on your No Claim Bonus (NCB). Let’s understand in a little more detail below about each of these impacts on your bike insurance.
Although there is no rule that prevents you from raising more than one bike insurance claim with your insurer, it is good to stick to as few as possible as a general rule of thumb. Raising bike insurance claims repeatedly with your insurance company may result in the following:
Now that we understand how raising claims for bike insurance affects the different elements of your insurance policy and that it’s always better to use your insurance claim benefit wisely, let’s learn about the procedure to file a claim with your company:
When filing a bike insurance claim, you would need to submit a claim form (duly filled and signed) to your insurer along with a copy of the following documents:
Knowing that raising multiple claims in a year can directly impact your bike insurance compensation received and premium rate, when is it exactly ideal to raise a claim? Let’s find out.
While bike insurance is meant to provide you financial protection in case of any mishap or untoward event, it is best to avoid making repeated claims with your insurer. This would directly impact your NCB benefit under the plan. Hence, it is advisable to cover costs for minor repairs on your own rather than file it with the insurer.
For best deals on both first party bike insurance and third party bike insurance online, visit PayBima and secure your vehicle against all potential damage and maintenance for the future.
Found this post informational? Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance and Investment section. You can visit PayBima to Buy Insurance Online.
View this post on Instagram
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
Looking for insurance to cover your new two-wheeler? Let's find out how much bike insurance costs in India and what all purposes it serves in.
Let’s learn more about why an RC or Registration Certificate is absolutely essential for riding your motorbike on the road and how you can obtain.
No Objection Certificate (NOC) Online for Bike or Two-wheeler in India NOC or No Objection Certificate is required if a bike owner is selling his/her.
What Do You Mean by Bike Warranty and Bike Insurance Policy - Major Differences Between Two-wheeler Warranty and Two-wheeler Insurance Many people confuse a bike.
National Bike Insurance Claim Process - A Step by step Guide National General Insurance is a government insurance company that has settled a number of.
Changing the Name of Your Bike Insurance Nominee - Know the Steps and Things ? Nominee details of your bike insurance policy can be changed..
Penalties & Fines in India if You Drive Two-wheeler on the Wrong Side of the Road Did you know that driving on the wrong side.
Is Your Bike Insurance Policy Genuine or Fake? Here is How to Check This Are you planning to buy a bike insurance policy online, but.
Speak to our advisor
Corporate Office : Mahindra Insurance Brokers Ltd ( A Mahindra Group Company ) Sadhana House, Ground Floor, 570 P. B. Marg, Behind Mahindra Towers, Worli, Mumbai 400018.
Licenced by IRDAI License No. 261; License Validity : 17-05-2025; Category : Composite Broker; CIN : U65990MH1987PLCO42609 Member of Insurance Brokers Association of India (IBAI).
Insurance is the subject matter of solicitation.
For a seamless experience, use the latest version of Chrome/Firefox/Internet Explorer.
Copyright © 2022 Mahindra Insurance Brokers. All Right Reserved.