Having bike insurance in India is a legal requirement and a smart financial decision. With increasing road traffic and unpredictable accidents, having the right protection for your two-wheeler can save you from heavy expenses. Knowing how to claim bike insurance properly ensures you get the benefits when you need them the most.
In this blog, we will explain the two-wheeler insurance claim process in India, the types of settlements available, the required documents and common reasons why claims are made.
Bike insurance claim settlement process in India
The claim settlement process refers to the steps you need to follow to get compensation after an incident involving your bike. Whether it's an accident, theft or damage due to natural causes, your claim must be filed correctly and promptly.
The process usually begins with informing your insurance company about the incident. Next, a surveyor is sent by the insurer to inspect the damage. Depending on the policy and the extent of the damage, the company may either approve or reject the claim. If approved, the settlement will be done either through a cashless facility or via reimbursement.
Cashless claim settlement
A cashless claim settlement is a facility where you can get your bike repaired from a network garage without paying upfront for the repairs. The insurer settles repair bills directly with the garage, which reduces your out-of-pocket expenses.
When you choose a cashless claim, the process is smoother and quicker. After the accident, you must inform your insurance provider and take your vehicle to an authorised garage. A surveyor sent by the insurance company will inspect the damage and approve the repairs. Once repairs are done, the insurer will pay the bill directly to the garage.
Reimbursement claim settlement
A reimbursement claim settlement is when you get your bike repaired at a garage of your choice. You pay the expenses and claim the amount from your insurance company.
To make a reimbursement claim, you must inform your insurer about the damage, get the repair estimate and get the damage assessed by the surveyor. After repairs are completed, submit all the bills and receipts along with a claim form and required documents to the insurer. Once your claim is checked and approved, the insurer will reimburse the repair amount to your account after deducting applicable charges.
Documents required for filing a bike insurance claim
Here is a list of the commonly required documents:
In case of accidental damages
- Active two-wheeler insurance policy document
- Copy of road tax receipt and registration certificate; the insurer may also request the original documents for cross-verification
- Copy of police FIR
- Driving licence of the policyholder/driver on the steering wheel at the time of the road mishap
- Repair estimates prepared by the garage where you intend to have the damage fixed
- Payment receipt or original repairs invoice
- Discharge voucher from the garage with your signature on it
In case of bike theft claims
- Duly filled claim application
- Original registration certificate
- Original bike insurance document
- If you previously had insurance with another motor insurer, provide the complete details of that policy
- Service record book
- Warranty certificate
- Police FIR's original copy
- Subrogation letter
- Copy of acknowledgment of your request to the RTO to declare your bike as 'Non-Use'
- Duly filled and signed Form No. 28/29/30
- Form 35 and NOC (from a lender) in case of a bike bought on a loan
- Claim discharge voucher having your sign across the revenue stamp
- Your insurer may request a 'Vakalatnama' or other documents as they see fit
In case of third-party claims
- Claim form with your details and signature on it
- Police FIR copy
- Policy document
- Driver's licence of the person driving the car during the incident
- Car's registration copy
- A stamp is necessary for commercial four-wheelers
Steps for filing a bike insurance claim
Filing a bike insurance claim in India involves several important steps:
The claim process for the third party
As soon as your bike collides with another vehicle, notify your insurer and file an FIR at the nearest police station. If you or your vehicle is hit by a bike, ask the owner of the bike for their insurance information so you can file a claim.
The insurer will verify the essential information before forwarding the claim to the Motor Insurance Claim Tribunal Court. The court will decide whether or not the claim is legitimate.
If the claim is found to be legitimate, the court will determine the amount of compensation. The insurer will then settle it accordingly.
The claim process for the own-damage
Notify your insurer as soon as the damage occurs. Delays in the notification will result in claim rejection. If the bike is damaged in an accident, an FIR is required.
Your insurer will appoint an inspecting officer. He will be in charge of determining the extent of damage and the nature of loss after which the report will be prepared and sent to the claim department.
The claim department will review the report, and if it is approved, you can have your bike towed to the network garage for repairs.
Common reasons for two wheeler insurance claim
There are several valid reasons for which a bike insurance claim can be made:
- Accidental damage: It includes damage to your bike due to a collision, skid or fall.
- Theft: If your bike is stolen and cannot be recovered, you can file a claim and get the Insured Declared Value (IDV) after investigation and approval.
- Fire or explosion: Damage caused due to fire, explosions or self-ignition is also covered under certain comprehensive bike insurance.
- Natural disasters: Floods, earthquakes, cyclones and other natural calamities can cause significant damage. Claims can be made for such losses.
- Vandalism or riots: Damage caused during riots, strikes or malicious acts is also claimable.
- Third-party liability: If your bike causes damage to another person or their property, the insurer will cover the expenses as per third-party coverage.
Ensure you report such incidents immediately and provide all necessary evidence to support your claim.
Conclusion
Filing a bike insurance claim in India might seem like a complex task, but it becomes manageable if you understand the process and follow the right steps.
While having basic insurance is mandatory, it’s worth considering the broader protection that comprehensive bike insurance offers. This type of coverage not only fulfils legal requirements but also safeguards you against accidental damage, theft, fire, natural disasters and third-party liabilities.
Disclaimer: The information provided in this blog is for educational and informational purposes only. It may contain outdated data and information regarding the topic featured in the article. It is advised to verify the currency and relevance of the data and information before taking any major steps. ICICI Lombard is not liable for any inaccuracies or consequences resulting from the use of this outdated information.