Two Wheeler Insurance: Scooty’s Claim Settlement

All vehicles registered in India must compulsorily have a motor insurance policy. This comes as a requirement of the Motor Vehicles Act of 1988. Be it two-wheelers or cars, for private or commercial use, all need to comply with this regulation. Of these different vehicles, a scooty is a sought-after two-wheeler for city commutes, often preferred over bikes and cars. Not only do they have higher fuel efficiency being lighter on your wallet, but are also easily maneuverable through traffic snarls. That is why even sports bike enthusiasts prefer having a scooty in their garage for short-distance commutes. With a scooty being of critical importance in ensuring your daily commutes are comfortable, any damage to it can be discouraging. To avoid steep repair costs, a bike insurance policy comes in handy. Many scooty owners might just avail of the minimum third-party insurance cover, but it has limited coverage only for third-party liabilities. Hence, a comprehensive insurance cover helps create a financial shield for the repairs as well as offers legal protection against third-party liabilities. Here’s how you can claim and receive compensation for your scooty.

Insurance Claim Process for a Scooty

When buying scooty insurance, policyholders have the option to choose between a cashless policy and a reimbursement policy.

• A cashless policy is where the insurance company directly pays the service garage for the repair costs. However, policyholders need to take their vehicle to a network garage, which is a repair shop within the insurance company’s affiliated service garages.
• On the other hand, reimbursement plans are where the policyholders need to pay for the repair costs from their pocket and then claim a reimbursement of the expenses from the insurance company later on.

*Standard T&C Apply While the claim process for both types of insurance policies is slightly different, the general claim process remains the same. Here are these broad guidelines described:

1. Initiation of the Claim

The first step in the initiation of the claim depends on the type of damage. In case of accidents, filing an FIR that reports the incident to the jurisdictional police authorities must be the first step. This step is required for most types of insurance claims followed by intimating the insurance company of the damages. The insurer must be updated on the damages to your scooty too. *

1. Assessment of Damages

The next step after the initiation of the claim process is to assess the damages to the vehicle. For cashless claims, the insurance company will either send the surveyor to the location of the accident or require you to upload evidence of the damages to the scooty. Only after the assessment is complete, the repairs can be commenced for a cashless insurance claim. For reimbursement claims, waiting for the insurance surveyor isn’t mandatory and the repairs can be carried on. *

1. Towing and Repairs

Following the inspection step, the repairs to the vehicle are next. For claims to be cashless, they must be made only at network garages which are affiliated service stations with the insurance company. Only then can a cashless claim be settled by the insurance company directly. Repairs in case of reimbursement claims can be made at any service shop and subsequently claimed from the insurance company. *

1. Settlement of Claims

While cashless claims for a majority of the repairs settle directly with the network garage, only the deductibles and expenses that are outside the policy’s scope need to be paid by you, the policyholder. The claims under reimbursement mode are settled by the insurance company only after validating the bills of the expenses and verifying its limits as per policy terms. * *Standard T&C Apply Over to You With these steps, getting your scooty insurance settled can be straightforward. So, without worrying about the claim process, make sure to avail the best possible coverage that fits within your budget at each bike insurance renewal. 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.