File a Two Wheeler Insurance Claim: Step-by-Step Guide

Bike insurance is partly mandatory in India. Not only that, but it can also prove to be financially helpful if your two-wheeler gets involved in a mishap. Most people are aware that at least a third-party liability insurance is essential for your two-wheeler in India. Your other option is a comprehensive policy.  It is not mandatory, and some people may shy away from it thinking that it costs more. Some people may think that a comprehensive plan is significantly more expensive than a third-party plan. However, if you use a bike insurance calculator, you may realise that such is not the case. But beyond that, having comprehensive bike insurance can also prove to be helpful. But how? Buying two-wheeler insurance is a relatively simple process, especially if you choose to do it online. All it takes is the right documents and within a few minutes, you can get your bike insured. But some people are still unaware of what follows. Bike insurance policies are usually purchased for a year. At the end of this duration, they must be renewed. During this time, if your bike were to endure any mishap, repairs may cost a significant amount. Furthermore, if you were to face any injuries during such mishaps, treatment costs would add to your burden. To help you deal with these costs, you may claim your two-wheeler insurance policy. While you may be doing everything to avoid accidents, some of them can prove to be unavoidable. If you have found yourself in such a situation and want to raise a claim for your two-wheeler insurance, you should be aware of the process. Even if you are not looking to claim right now, it is ideal to be aware of the claim process. It is as important to know how to claim two-wheeler insurance as it is to know how to buy it. Let’s understand how to claim your bike insurance policy when the need arises.

Bike Insurance Claims in India

Before you can move towards raising a claim, you should ensure you have a thorough understanding of your policy. For example, which type of policy do you have? Is it a third-party liability coverage or comprehensive coverage? If it is the latter, what sort of covers are included in your comprehensive policy? Once you know this, you need to get acquainted with the details of your policy, such as inclusions and exclusions. This could help you be better aware of which claims will be accepted. There are three types of bike insurance claims you could raise with your insurance provider. The process for each of these may slightly differ from the other. Here is a look at how various claims processes function.

• Third-party liability claim

This is the sort of claim you make when two parties are involved in an accident and either your vehicle is damaged, or you cause damage to the other party’s vehicle. In case the other party’s vehicle has been damaged, the first step to follow here is to talk to the police as well as your insurance provider. If the other party has caused damage to your vehicle, you can get the insurance and contact details of the other party. After you have informed your insurer, they will then forward the case to the Motor Insurance Claim Tribunal court. The court will give the verdict on the payment needed to be made to the party who has undergone damages.

• Own damage claim

This is the kind of claim you make when you are probably the only one involved in an accident. Here, you can directly inform your insurer. The insurance company will then appoint a surveyor to assess the damage endured by your bike. You can then send your bike for repairs. After the assessment, the surveyor submits the report to the insurance provider. The cost of repair may be settled in two ways. Either the insurance company directly pays the garage, or you can pay the garage and the insurance provider will transfer the approved amount to you. If another vehicle or person is involved in the accident, it may be ideal to file an FIR with the local police station.

• Theft claim

Another instance when you may want to make a policy claim is when your bike, or parts of it, are stolen. Your immediate first step should be filing an FIR. Next, you should inform your insurance provider as soon as possible. The police will first try to trace your vehicle. If unable to do so, a non-traceable certificate will be issued. You can inform the insurer about the same. They may pay you the IDV and settle your claim under ‘total loss’.

How to Initiate a Claim?

If you face an accident with your bike or its theft, you may need to raise a claim with the insurance company. Here are a few ways you can initiate your claim.

• Via the official app of the insurance provider (if available)
• Via the website of the insurance provider
• By calling the contact number provided on your policy
• Visiting the office of the insurance provider
• Consulting your insurance agent

To enable solid financial support when your bike meets with a mishap, having an active insurance policy is essential. Remember that bike insurance requires regular renewal. Thus, remember to renew bike insurance on time. You can use a bike insurance calculator to get an idea of the best possible rates. If you want to bring the costs down further, you can renew your bike insurance online, as it tends to be more cost-effective. 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.