How to File Bike Insurance Claim

5 min read

With a bike insurance claim, you are informing the insurer about the incident which damaged your bike. Now it could be a theft or an accident. It may also be a natural disaster or a man-made one. When you are filing such a claim you have to apply the same and that too in the right format whereby you request the insurer to compensate you for the damages that you have faced. That is why it is so important to choose an insurer that is good enough to settle your claims financially. However, before you get started on how to make a claim and how such claims are settled you must know about the different kinds of claims.

Cashless bike insurance claims

If you want to know how to claim bike insurancethis is something that you must know as well. A cashless bike insurance claim lets you get your vehicle repaired without having to pay any money for the same. The only way you can avail of such a facility however is by taking your vehicle to a garage, which is part of your insurance network, for the repairs and servicing. All you have to do in this case is pay the deductible amount that the insurer does not cover and you get to bring the repaired vehicle home.

The term deductible is an important part of the bike insurance claim process. It means the part of the total claim which has to be paid by you – the insured. This particular amount is normally determined when the IDV (insured declared value) and premium for the policy are being calculated. The term network garage in this context means a garage that has a partnership with your insurer. So, if you select a network garage the money needed to repair your bike would be paid directly to the same.

Reimbursement bike insurance claims

If you want to know how to claim insurance for bike damage this is something that you should know as well. In these cases, you would pay for the repairs and servicing work, and then claim the money from your insurer by registering a claim. The insurer would then verify the documents to support your claims such as the actual repair bill, policy document, receipt, and RC (registration certificate), to name a few. The best thing about these claims is that you can get the bike repaired at a garage that you prefer and then get financial compensation for the same from your insurer.

The steps for filing bike insurance claims

Do you want to know how to claim two wheeler insurance? If yes, you should know that the steps do so vary with respect to the kind of claim. For example, in case of a third-party claim where you have had an accident and struck the bike of the other party you need to immediately inform your insurer and the local police. If you are the victim over here you need to get the insurance related information from the offending party and file a claim as per third party liability rules.

In such a bike insurance claim the insurer would forward your claim to the Motor Insurance Claim Tribunal court so that it can pass its verdict on the same after you have registered the claim from your end. The tribunal court would then verify the case to determine the compensation amount that the insurer would pay you. The same procedure would be followed in cases where you are at fault for the accident and supposed to be paying the third-party liability to the victim of the accident.

The bike insurance claim process would be different from what we have mentioned above in case it happens to be an own damage claim or a theft claim. If your vehicle has been damaged by an accident or other external means such as manmade and natural disasters or is stolen, you would first have to inform the insurer and police about the same.

Also Read: What is a No-Claim Bonus (NCB) in Bike Insurance?

The documents needed to file a claim

How to claim bike insurance the best? An important part of this is submitting the right documents to support your claim. Now, this too depends on the kind of claim you are making. For example, the following documents have to be submitted for accidental claims:

  • insurance proof
  • estimate of total repair done by the garage
  • copy of tax receipt and registration book – you also need to submit the actual copy for purpose of verification
  • original payment receipt and repair invoice – in case it is a network garage you only need the repair invoice
  • copy of police FIR
  • discharge cum satisfaction voucher that you have got from the garage – you should also sign it with a revenue stamp
  • driving license of the individual driving the vehicle at the time of the accident

What are the commonest reasons for the rejection of claims?

Do you want to know how to claim insurance for bike damage successfully? If so, then there are few things that you must know. The commonest reason is that you might have provided false information in the claim that was discovered by the insurer who rejected the request for claim straight away. If you caused the accident while you were intoxicated by drugs or other such substances your claim would be rejected. Are you driving the vehicle as a second-hand owner and is it still registered under the previous owner’s name? In that case, your claim would be rejected.

Conclusion 

So, by now we can expect that you have some idea of how to claim two wheeler insurance. We would also like to take this opportunity to warn you that having bike insurance does not mean you can flout traffic rules and be a dangerous proposition to others on the road. There is nothing to doubt that you get undiluted adrenaline high from speeding. However, it can also lead to serious situations such as grievous accidents that can lead you to regret as long as you live. So apart from getting insurance, know and respect your limits, and ride safely.

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Gayatri Prabhu, Head-Digital Business at Mahindra Insurance Brokers Limited (MIBL) is one those few digital leaders who has the width and depth that is required to execute an ROI driven holistic digital strategy. She cuts through the noise, identifies the critical levers and leads her team to successful execution of the defined strategy. Her core mantra to win new and retain existing customers is: understand the consumer behavior and craft experiences around it.

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