Understanding How Bike Insurance Claims Work
4 min read
・Jun 16, 2024
The Indian Motor Insurance Market is expected to grow greatly, reaching ₹1.53 trillion by 2028. However, to ensure everyone gets the full benefits of bike insurance, it is critical to understand the process of buying and utilising the full benefits of bike insurance whenever required.
This blog will give you a clear understanding and help ensure you never miss out on claiming bike insurance due to confusion or unawareness.
Types of Bike Insurance Claims
Before we start understanding the claim process, let’s understand the types of claim processes:
| Cashless Claims | Reimbursement Claim | |
| What does it mean? | You get your bike repaired at the insurer’s network garage, and the insurer pays the bill directly to the garage. | You get your bike repaired at any garage of your choice and pay the bill yourself. The insurer reimburses your expenses afterward when you submit the bill and other documents. |
| How does it work? | You don’t have to pay anything from your pocket except for deductibles or non-covered expenses. | You have to pay the entire repair cost upfront and wait for the reimbursement from the insurer. |
Factors Influencing Bike Insurance Claims
Now that we understand the types, let’s dive deeper into the key factors that influence your claims:
- Type of Claim: Evaluate whether to go for a cashless process or reimbursement based on your convenience and the availability of a network garage.
- The Extent of Damage: Understand your bike’s damage, whether it has minor scratches or needs significant repairs. This will help you to determine your claim amount.
- Network Garages: The availability of network garages also influences the efficiency of claim processing, especially in cashless claims.
- Surveyor Cooperation: The surveyor’s cooperation and assessment play a crucial role in the accurate evaluation and further processing of your insurance claim.
Two-wheeler claim insurance process
The claim process also heavily depends on the damage or claim you intend to raise. Here are the three types of damages or casualties your bike may meet and the required steps to file your claim:
| Claim Type | Required Steps |
| Third-party | 1. If you meet with an accident and hit another person’s vehicle, immediately inform the police and your insurance provider. 2. Collect Details: Gather the other party’s insurance details. 3. Take a copy of the charge sheet filed by the police against the owner. 4. Hire a motor claims lawyer. Such cases do not fall under the jurisdiction of civil courts. Hence, a claim must be filed in the tribunal court of the area where the accident occurred or where you (the claimant) reside. 5. Process Third-Party Claim: File a claim under third-party liability to the insurer. |
| Theft | 1. File an FIR: Register a First Information Report (FIR) with the police immediately after your bike is stolen. 2. Inform Your Insurer: Notify your insurance company about the theft. 2. Inform the RTO: Inform the Regional Transport Office (RTO) about the theft. 3. Arrange Documents: Gather the necessary documents for the claim. 4. Submit Untraceable Report: If the police are unable to trace the stolen bike within a certain period, they will issue a non-traceable certificate |
| Own damage | 1. File an FIR in case of an accident. 2. Inform the insurer promptly to avoid claim rejection. 3. The insurer appoints a surveyor to assess damages. 4. After approval, the damaged bike is sent to a network garage for repair. 5. Cashless process: The repair bill is settled directly with the network garage. 6. Reimbursement process: The insurer reimburses the repair expenses based on supporting documents. |
Tips and Guidelines for Bike Insurance Claims
- In case of accidents:
1. Prioritise safety first and immediately get medical help for any injuries you or others sustained in the accident.
2. Document the accident scene by taking photos of vehicle damage, injuries, road conditions, and traffic signs.
3. Get the contact details, insurance information, and vehicle registration numbers of all parties in the accident.
4. File a police report to the nearest police station. Get a copy of the police report for insurance claims.
5. Notify your insurer about the accident to start the claims process.
6. Follow the insurer’s instructions. Submit the needed documents and evidence to support your claim.
- In case of theft:
1. Report theft immediately to the police.
2. Contact your insurance company right away. Report the theft and start the claims process.
3. Give the insurer a copy of the police report, proof of ownership, bike registration documents, and other required documents.
4. Cooperate with the insurance company’s theft investigation. This may involve providing more information or evidence.
5. Wait for the insurer to assess your claim. They will determine if you are eligible for reimbursement or compensation.
- In case of damage:
1. Assess damage and document it with photographs.
2. Obtain repair estimates from authorized workshops or garages for the required repairs.
3. Contact your insurance company to report the damage and initiate the claims process.
4. Submit photos, repair estimates, and other necessary documents to the insurer.
5. Follow the claims procedure.
Top Reasons for Claim Rejection
1. Failure to renew policy before expiration
2. Non-disclosure of material information during the application process.
3. Unauthorised use for things not covered by the insurance policy.
4. Lack of documentation like police reports for a theft claim or repair bills damage claim.
5. Policy exclusions, like damages from wear and tear, mechanical breakdown, or riding under the influence of alcohol or drugs.
6. Delayed reporting, like failing to report the incident to the insurer within a specified timeframe, which can vary by insurer and claim type.
Key Takeaways
Knowing how to file a bike insurance claim simplifies the process and leads to a prompt payment.
Opt for insurance for your two-wheeler today to achieve peace of mind and financial stability. Keep this guide handy to ensure you raise your bike insurance claim on time, hassle-free.
Consider platforms like PhonePe for a seamless claim settlement experience.
Frequently Asked Questions
Is the claim process different in case I got my bike repaired in a non-network garage?
Does PhonePe provide post-purchase insurance claim assistance to its customers?
What all documents may be required during the bike insurance claim process?
Can I raise a claim if my bike gets a challan due to violation of traffic rules?
