How to Claim Insurance For a Bike

Types of Bike Insurance Claim Process in India

The bike insurance claims process in India lets the policyholders make claims for any losses that occurred during the accident, third-party damage, or theft of the motorcycle. This process can be mainly categorised into two types:

• 1. Cashless bike insurance claims
• 2. Reimbursement of bike insurance claims.

1. Cashless Bike Insurance Claims

In a cashless bike insurance claim, the insurance company directly pays for the repair costs at a network garage. You don't have to pay by yourself. This is a convenient option if your bike is damaged in an accident and needs repairs.

2. Reimbursement Bike Insurance Claims

In a reimbursement claim, you first need to pay for the repairs by yourself and then request repayment from your insurance company. This option is helpful when you want to get your bike repaired at a garage that is not part of the insurance company.

How to Claim Insurance for Bikes in India?

To claim the bike insurance, first, you must have an active bike insurance policy for a successful claim settlement process. Now let's discuss the easy claim process for different scenarios:

1. To Claim Bike Accident

• Step 1: After the accident, make sure you are safe. File an FIR (if needed).
• Step 2: Take your bike to a network garage for repairs. The garage will start the claim process and inform the insurer.
• Step 3: The insurer then sends a surveyor to inspect the damages and analyse the situation.
• Step 4: Once the surveyor approves, the garage will start the repair work based on the approval.
• Step 5: After repairs are completed, the surveyor will come again to check the final work and issue a Delivery Order (DO).
• Step 6: If you go for a cashless claim, the insurer will pay the garage directly.
• Step 7: If you go for reimbursement, the insurer will settle the bill with you based on the policy terms.

2. To Claim Third-Party Damages

• Step 1: If you meet with an accident and hit someone else's bike, you need to inform the police and the insurance provider immediately.
• Step 2: If someone hits your bike, get their insurance details and file the claim under third-party liability.
• Step 3: The insurance company will send the case to the Motor Insurance Claim Tribunal court for the final decision.
• Step 4: The tribunal court then reviews the case and decides how much should be paid as compensation.
• Step 5: If you are at fault, the process is the same, and then you need to pay compensation to the third party.

Note: For third-party damages, there are two aspects: If it is a case of property damage, the compensation has a limit of ?1 lakh. If it is a case of injury, disability, or death, the compensation amount is determined by the tribunal court.

Required Documents For Claiming Bike Insurance

Here's a list of documents required for different types of claims.

1. In Case of Accidental Damages

• Duly filled claim form
• Copy of the bike insurance policy
• FIR (if required)
• Repair bills and receipts
• Surveyor's report
• RC (Registration Certificate) of the bike
• Driving licence of the rider at the time of the accident

2. In Case of Bike Theft Claims

• Duly filled claim form
• Copy of the bike insurance policy
• FIR copy
• No Trace Report from the police
• RC of the bike
• Keys to the bike
• Purchase invoice for the bike
• ID proof of the policyholder

3. In Case of Third-Party Claims

• Duly filled claim form
• Copy of the bike insurance policy
• FIR copy
• RC of the bike
• Driving licence of the rider
• Any legal notices received from the third party

Conclusion

Knowing how to claim insurance for bike is important for every bike owner in India. Whether it's an accident, theft, or third-party claim, knowing the process and having the required documents can make the whole process less stressful. Always remember to keep your insurance policy updated and always ride safely.

So if you are looking to file a claim for your bike insurance policy or want to compare the bike insurance claim settlement ratio of different companies to buy a policy, get expert advice at Square Insurance. We are here to help you in every manner we can.