You must first notify the insurance provider of the accident to file a bike insurance claim. It might be a theft, an accident, or damage brought on by a natural or man-made disaster. Additionally, you must submit all required paperwork to be reimbursed for your expenses.
You should know the different claim settlement processes.
Payment of claims without cash
Cashless bike insurance claims are resolved without the insured having to pay the claim amount out of pocket. The only prerequisite is using the services at a network garage. Due to partnerships the insurer has with these garages, payment is made directly by the insurer.
Settlement of a reimbursement claim
You must pay for the repairs out of your pocket before filing a claim for reimbursement under your bike insurance. After examining the supporting documents, including the original repair bill, receipt, policy document, RC, etc., the insurer will reimburse the incurred amount. The best part is that you can have your car fixed at the garage of your choice and receive payment for the cost of repairs directly into your bank account.
1. If you are in an accident and hit the other party’s vehicle, call the police and your insurance company immediately.
2. If you are the victim, obtain the other party’s insurance information and file a third-party liability claim.
1. The insurer will submit the same to the Motor Insurance Claim Tribunal court for a decision.
1. After reviewing the case, the tribunal court determines the amount to be paid as compensation.
2. The process is the same whether you are at fault and must make restitution to a third party.
Own-damage claim *
1. Inform your insurer if your bike is damaged due to an accident, a natural disaster, or an act of terrorism.*
2. Immediately file an FIR in the event of an accident.
3. Tell the insurer as soon as possible to avoid having your bike insurance claim denied.
1. The insurer will appoint a surveyor to investigate and assess the damage.
2. The damaged vehicle is sent to the network garage for repairs after the assessment report has been approved.
1. In the case of a cashless process, it will involve paying the network garage directly for the repairs.
2. If you qualify for reimbursement, the insurer will reimburse you under the terms of the policy.
1. Even if your bike has been stolen, file an FIR immediately, and notify your insurance company of the incident.
1. Submit all required paperwork, including the original bike keys.
1. The police will issue a non-traceable certificate if the vehicle cannot be located within a specific time frame.
2. Based on that, the insurance company will settle the claim under the total loss category and pay up to the IDV.
To gain the benefits of your policy, ensure that your bike policy renewal happens on time.
* Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.