Owning a bike is a “dream come true” for many. However, in today’s time, accidents are common on Indian roads. Irrespective of how careful you are, there is always a chance that you can meet with an accident or someone hits your bike. If you live in a flood-prone or an earthquake-prone area, there are chances that natural disasters can cause damage to your bike. In case of a man-made disaster like riots, an attempt to theft, etc, your bike may face considerable damage.
In all such cases, the bike insurance policy comes in handy to fix the damages. In order to get the claim cleared quickly, you should follow the correct procedure. Here are the steps that will guide you about how to how to claim your Bike Insurance Policy to fix the damages.
Type of claims you need to know about
There are two types of claim settlements, and they are as follows:
- The first is a cashless claim settlement in which you only pay the deductibles that you have agreed to pay and the rest of the bill is directly cleared by the insurance company. Such settlement is only possible if you get the bike repaired from one of the insurance company’s authorized service centers.
- The second type us reimbursement claim in which you pay the expenses on your end and then raise a claim with the insurance company. It is generally done in case a cashless claim settlement is not possible. The insurance company will do some verification and disburse the claim amount after deducting the amount that you agreed to pay as deductibles.
How to file a claim?
As you are already under stress because your bike is damaged, going through the claim filing process can be overwhelming. If you know the process inside out, it becomes easier and simpler to file the claim. Here are the steps that you need to follow to file the claim.
- Inform the insurance company
The first step is to inform the insurance company about the damage. Insurance companies prefer to get information about the mishap within 24 hours of the accident. If you fail to inform the insurance company, it may lead to complications.
- File an FIR
If your bike met with a major accident or someone stole your vehicle, it is essential to file FIR at your nearest police station. Insurance companies require a copy of FIR with the claim documents. If you have filed the report, it will help in speeding up the claim settlement.
- Evaluation of the damage
If you have met with an accident, it is important to get the evaluation of the damage done by a professional at a garage. The process becomes easier if the assessment is done by someone from the garage authorized by your insurance company.
- Getting reimbursement
If you are unable to get the repair work done from an authorized service center, you should pay the damages on your end and then file the claim at the earliest for settlement with the insurance company. You will need some documentation with the form.
- Documents required filing a claim
- Duly signed and filled the claim form
- Copy of registration certificate (RC) of your bike
- Copy of your valid driving license
- FIR of the accident including all details
- Bill issued by the garage
- Cash receipt
- Proof of release of the vehicle
If you are not confident enough that you will be able to file the claim in time or you do not understand the steps, you should take help from someone. In some cases, the rider is unable to file the complaint because he or she is not in the position due to an accident. In such cases, someone from the family should inform the insurance company about the accident immediately. Accidents cause physical and mental trauma. If you have a comprehensive bike insurance plan, it becomes a little easier to get things back on the right track.