Two-wheeler Insurance Claim Settlement

1. Cashless two-wheeler claim: If you take your two-wheeler to your insurer’s authorized garage for repair, then you can file a cashless claim. As the name suggests, a cashless claim means that a policyholder doesn’t have to pay anything for taking their two-wheeler for repair at the authorized insurer’s garage. Instead, the insurer will make the payment directly to the garage as per the terms of the policy. The policyholder is required to pay both the voluntary and mandatory deductible if they choose to do so when purchasing the bike insurance plan.

1. Reimbursement claim: If you take your two-wheeler for repair in any garage that isn’t approved by your insurer, then you’ll need to go through the reimbursement claim process. In this process, you’ll have to pay for the repair at the garage, after which you can file a claim with your insurer for reimbursement of your claim settlement amount. Your insurer will then reimburse your entire claim amount after deducting certain deductions, such as compulsory and voluntary deductibles (if you opted for them at the time of purchasing your policy).

Documents Required to File a Two-Wheeler Claim:

The following documents are required to file a two-wheeler insurance claim:

1. Original as well as copy of two-wheeler insurance policy.

1. Completely filled and duly signed insurance claim form.

1. Driving license (DL) and its copy.

1. Two-wheeler's Registration Certificate (RC).

1. Two-wheeler's Pollution Under Control (PUC) Certificate.

1. In case of any fatal accidents/ injuries or third-party liabilities, FIR is mandatory.

1. Original bills/ receipts of repairs (for reimbursement claim).

1. If the claim amount is above Rs. 1 Lakh, a copy of PAN card is required.

1. Duly signed Discharge Voucher or Satisfaction Voucher.

How to Raise a Cashless Two-Wheeler Claim:

The steps to raise a cashless two-wheeler insurance claim are as follows:

Step 1 - The first thing you need to do is to let your insurance company know about the accident that happened to your two-wheeled vehicle. You can do this by calling the customer help line number or by visiting the official website of your insurance company or by using the mobile application (if available). Your insurer will then register your claim with them and provide you with the claim reference number.

Step 2 - Once the claim has been registered, the insurance company will be required to appoint an official inspector or surveyor who will assess the damage or losses sustained by your two-wheeler. The inspector/surveyor may visit the scene of the incident/accident. In case it is not possible for them to visit the site, they may also provide you with a self-inspection link on your registered number.

Step 3 - You will have to tow your bike to the closest garage approved by your bike insurance company for cashless repair. You can also apply for towing services from your insurance company. Most of the insurance companies offer towing facilities for free up to 1,500 rupees. However, do note that the towing charges vary from insurer to insurer.

Step 4 - Your insurance company will pay for the repairs directly to the garage. Once you’ve paid the deductible required on your end, you’ll be able to drive your bike home.

How to Raise a Reimbursement Two-Wheeler Claim:

The steps to raise a reimbursement two-wheeler insurance claim are as follows:

Step 1 - The first step is to notify your two-wheeler insurance company of the accident that occurred with your vehicle. This can be done by calling their customer help line number or by visiting their official website or mobile app (if available) to register your claim. Your insurer will then issue you with a claim reference number.

Step 2 - Once the claim has been registered, the insurance company will be obligated to appoint an official inspector(s) to inspect the damage or losses sustained by your two-wheeler. The inspector may visit the scene of the accident and may inspect the damage. However, they may also send you a self-inspection link on the mobile number registered with the insurer.

Step 3 - Once the inspection has been completed, policyholders are required to tow their two-wheeled vehicle to the closest garage and undertake the necessary repairs. Generally, insurance companies offer free towing services up to a maximum of Rs. 1,500. However, the cost of towing may vary from insurer to insurer.

Step 4 - You’ll have to pay for the garage repair. Then, you will have to raise a request for reimbursement claim settlement process with your insurance company. You will be paid the amount you are entitled to after deductibles are taken into account.

Common Causes of Two-Wheeler Claim Rejection:

A lot of claims get denied or delayed because the insurance company does not receive proper documents or there is lack of proper procedure for the settlement. An insurance company has every right to deny or accept your claim if they find anything that looks suspicious. That is why it is important to be careful when filing bike insurance claims online or offline. Read on to know the most common reasons for bike insurance claim rejection:

1. The accident or mishap took place outside the area mentioned in the insurance policy.
2. The accident or mishap took place while the vehicle was being used for some illegal purpose.
3. The insurance policy has expired and was not renewed.
4. If a policyholder submits inaccurate information and is subsequently identified by the insurance company, this could result in the denial of the claim.
5. The accident or mishap took place because the driver/rider was intoxicated while driving.
6. If the repair cost is found to be more than the depreciation value of the two-wheeler, then you will have to pay a sum equal to the depreciation value of your two-wheeler.
7. If the policyholder gets the vehicle serviced without informing the insurance company about the accident, then the claim might be denied.
8. If the accident is the result of negligence on the part of the policyholder and is discovered by the insurance company, the claim can be denied by the insurance provider.
9. If the driver did not have a valid driver’s license at the time of the accident, then the claim can be denied by the insurance company.
10. In the event that you fail to comply with the rules and regulations and fail to report the accident within the specified timeframe, your claim may be denied.

How Can I Raise a Claim for Two-Wheeler Accident?

The steps to raise a claim for two-wheeler accident are as follows:

Step 1 - You need to note the registration number of the vehicles involved in the accident.

Step 2 - Depending on the severity of the mishap, you are required to file a First Information Report (FIR) at the nearest Police Station. You will also need to provide a copy of the FIR along with other relevant documents to your insurance company at a later date. If possible, record the time and place.

Step 3 - Inform the insurance provider about the mishap within the stipulated time frame.

Step 4 - You will have to complete the documentation process by submitting all the documents required by the insurance provider.

Step 5- A surveyor will be assigned to assess the damage and provide a report on their findings.

The company will settle the claim on the basis of the report submitted by the surveyor.

How Can I Raise a Claim for Two-Wheeler Theft?

The steps to raise a claim for two-wheeler theft are as follows:

Step 1- Once you notice your bike is missing, go to the nearest police station and register a First Information Report (FIR). You'll need a copy of the FIR to file the claim.

Step 2 - Get in touch with your bike insurance provider and understand what documentation you need for the claim process.

Step 3 - Once the police have filed the no-trace report, you will need to provide the necessary paperwork and the keys to your insurance company.

Step 4 - Your claim amount will depend on your Individual Depreciation Value (IDV) and the depreciations it allows for.