Bike insurance covers losses incurred during an accident, man-made events, human disasters, theft, etc. All it takes is a successful filing of a bike insurance claim with the insurance company. It helps you cover bike repair costs, legal liabilities, etc. However, do consider a few things before filing a bike insurance claim for a quick and hassle-free settlement experience. We understand that filing a settlement claim can be complicated, but if you don’t follow the proper claim procedure or commit any mistakes while doing the same, it can lead to rejection.
Five Questions You Must Ask to Ensure a Fool-proof Bike Insurance claim
1. Do You Have Active Two-wheeler Insurance?
A bike insurance policy is one of the most vital documents for a motorist. In case of theft or accident, insurance will compensate you for the losses. It is mandatory to have a valid insurance policy to claim benefits. Hence, remember to renew your bike insurance before it lapses.
Consider your insurance benefits before filing an insurance claim. A third-party two-wheeler insurance policy is obligatory in India. It covers the damages caused to a third party during an accident. Comprehensive bike insurance also covers the damages incurred to your vehicle and the injuries sustained by you. Whatever be the situation, sans an active motor insurance policy, the insurer cannot settle your claim.
2. Did You File an FIR Regarding the Accident or Theft?
Whether your bike has been damaged in an accident or is stolen, you can claim insurance for it. But before you file your claim, you must go to the nearest police station and lodge an FIR reporting the incident. Once you file the FIR, you will get a charge sheet (proof of damage and loss) that you must submit while filing a bike insurance claim. An insurance claim will be incomplete and subsequently unsuccessful without an FIR.
3. Do You Have the Documents Needed to Claim Insurance?
The first step towards documentation is to investigate what led to an accident. Did you damage a third party’s vehicle, or did someone else damage your bike? It will make a difference in the claim process.
If you are at fault, then share your policy details with the third party so that they can claim third-party coverage. However, if someone else has damaged your bike, you will claim third-party coverage from their insurance. So, don’t forget to get a copy of their insurance documents.
You must also collect all repair receipts and medical bills if anyone has been injured. You will need to submit these along with other documents to complete your claim. The other documents you need to submit are:
• Your driver’s license
• FIR about the incident
• Vehicle registration certificate
• Pictures from the accident spot
• Policy document
4. Have You Informed Your Insurance Company About the Situation?
Another preliminary task is to inform your bike insurance company about the theft or the accident as soon as possible before you submit an official claim form. Remember to appraise the insurer about the damage before getting your vehicle repaired. The insurance company might send officials for further investigation.
5. Have You Waited for the Surveyor to Visit the Accident Site?
A fuss-free claim experience requires you to intimate your insurance company immediately about the accident. But if you get your vehicle to the garage for repairs before the surveyor inspection, the insurer can deny your claim. Wait till the surveyor comes to the accident site. The concerned individual may ask you for documents such as policy number, bike registration number, etc. Provide the same to the surveyor who will document all the damages and injuries through pictures and videos. The surveyor would then send these testimonials to the insurance company for further action. Once you get the go-ahead, take your bike to the garage for repairs and subsequent claim settlement.
These questions will serve as a checklist you must complete before filing a bike insurance claim. The key to a successful claim settlement is to know your insurance policy thoroughly. Once you know the policy details, you can claim your bike insurance benefits. It is also crucial to understand all the terms and conditions of your bike insurance policy and adhere to the regulations. This will ensure your settlement process goes smoothly.
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