Bought a two-wheeler insurance after through research and analysis of what shall work best for you? Congratulations, you’re doing insurance the right way. But buying a two-wheeler insurance policy isn’t everything. You need to know when to make use of it and when to let it slip. For instance, a minor repair need not be reported to your insurance company as it may subsume your no-claim bonus and also the compulsory deductible required may be higher than its repair costs. So, at such times it is best to not raise a claim, but for all other times, here’s how you can have a seamless 2 wheeler insurance claim process –
The starting point is to know what type of policy you have, whether a cashless plan or a reimbursement policy. The claim process in both plans is more or less similar with minor differences. Here’s a step by step guide to making a smooth insurance claim.
#1 File an FIR
For events of theft or damage to your bike, you can raise a claim only under the comprehensive insurance cover. But first, you need to file an FIR or First Information Report with the governing police authorities. This FIR is also required when intimating your insurance company about any losses.
#2 Intimating the insurance company
A crucial point to raise an insurance claim is informing the insurance company about the damage to your vehicle. This can be either done via the mobile application with some insurance companies or via a telephonic / e-mail intimation.
#3 Damage assessment
Once you have informed your insurance company, the damage assessment is required. This process differs depending on your insurance policy.
For cashless insurance claims, once your claim is registered by the insurance company, it appoints a surveyor. The surveyor is responsible for assessing the loss caused to your vehicle. This assessment can either be done at the accident spot or event at the network garage only after which the repairs can be started.
Under reimbursement claims, the damage assessment process is slightly different since the method of pay-out is where you need to first incur the repair costs followed by a compensation by the insurer. Hence, the repairs can be commenced without any assessment by the insurance company.
#4 Repairs and claim settlement
Once the damage assessment is complete, you can proceed with getting your bike repaired. Some insurance plans also include coverage for towing charges. For cashless claims, the payment is directly made to the network garage. Any costs that are outside the policy’s scope are required to be paid from your own pocket. On the other hand, for reimbursement claims, you need to submit all the necessary invoices for the repairs. After submission of these invoices, the insurance company will compensate only those expenses which are admissible as per the terms of the policy.
This is how you can ensure a hassle-free claim for any repairs that may be required to your bike. While selecting a bike insurance plan can get tricky, a bike insurance calculator is a simple tool that can aid you. Keep in mind these steps when you raise a claim. The process is roughly similar for all insurance claims. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.
