How to File a Claim for Your Two-Wheeler Insurance Plan?

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Indian bikes and scooters must have third-party two-wheeler insurance under the Motor Vehicles Act of 1988. It protects third parties from two-wheeler accidents. But Third-party insurance does not cover bike damage. Therefore, it is a requirement for bike owners to buy motorcycle insurance, ideally a comprehensive one. In addition to third-party liability, it also covers natural and man-made disasters like theft, collision, earthquake, tsunami, riot, and vandalism to the insured bike. These claims could be purchased easily through two-wheeler insurance apps.

What is bike insurance?

Comprehensive two-wheeler insurance covers your bike against all risks. For instance, if you lose balance while making a turn and crash, injuring yourself and your bike, it could be covered by your two-wheeler insurance. Filing an insurance claim involves alerting the insurer of the accident and asking for compensation. *

Types of Bajaj Allianz Bike Insurance Claims:

Cashless claims: Some insurance companies let policyholders make cashless claims so they don’t have to pay upfront to get their bikes fixed. The bike must be taken to a garage in their network. Here, the insurer pays the garage owner directly to fix an insured bike. *

Reimbursement claims: In the absence of cashless benefits under a motor insurance policy, the policyholder is responsible for covering the cost of repairs. However, they can thereafter submit a claim to the insurance company and obtain compensation for the expenses. Reimbursement claims are those in which the insurer reimburses the policyholder for the authorised compensation. *

Typically, you might need to submit a bike insurance claim in one of the three cases listed below. Here’s how to claim it:

  • Your bike may hurt someone or damage their property. A third-party liability action would be appropriate in this situation. *
  • Your bike sustains damage in the collision. Here, you should submit an ‘own damage’ claim. *
  • If your bike was robbed, you would need to submit an ‘own damage’ claim. The insurance company will deem the vehicle a “total loss,” and you will receive its Insured Declared Value (IDV). *

Following are the steps to submit a claim for bike insurance:

 

Submitting a claim for third-party insurance:

  1. Take the opposing party’s policy information and notify the insurer of the third-party claim.
  2. The insurance provider will submit your case for a decision to the Motor Insurance Claims Tribunal.
  3. The tribunal court will decide how much money should be paid to you as compensation after hearing from both parties.
  4. The insurance company will deposit the settlement money into your bank account.

 

Submitting a claim for the own damage cover:

  1.  Immediately notify the insurance company.
  2. Submit the necessary paperwork to support the claim. If necessary, submit an FIR to the neighbourhood police department.
  3. The insurance will hire a surveyor to confirm the claim and assess the damage.
  4. If the surveyor accepts your claim as accurate, they will give the garage permission to begin the repairs.
  5. If it’s a cashless claim, the insurer and the garage will work directly to resolve the costs. If it’s a reimbursement claim, the repair amount will be sent via National Electronic Fund Transfer to your bank account (NEFT).

Making a claim in the event of theft:

  1. As soon as you discover your bike has been stolen, notify your insurer.
  2. Submit an FIR to your neighbourhood police department.
  3. Submit the necessary paperwork to the insurer to make a claim.
  4. Request a non-traceable police certificate and provide it to the insurance.
  5. The insurance will deposit the IDV for your motorcycle into your bank account.

To know what all documents you would require to file a Bajaj Allianz Bike Insurance Claim, do check online for a more complete understanding.

* Standard T&C Apply

‘Insurance is the subject matter of solicitation.’ For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.‘

 

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