Two-Wheeler Insurance 101: Theft Claim

Some situations in life catch you off guard. You might have never imagined that your treasured two-wheeler could be stolen within moments. You might be at a restaurant with your family and you decide to park the two-wheeler on the side of the road.

Later, when you exit the restaurant, you notice that your bike is stolen. What do you do now? A two-wheeler not only helps you in seeking freedom from public transport but also provides convenience to help you avoid spending hours in the traffic.

You need to understand that the possibility of a bike being stolen is much higher than that of a four-wheeler. Hence, in order to secure yourself from a sudden loss, you need to buy two wheeler insurance.

In India, it is mandatory for every two-wheeler owner to have third-party insurance. However, if you want to make sure that you can file for a claim when your bike is stolen, you will have to ensure that the vehicle has a comprehensive insurance cover.

A comprehensive insurance plan will protect you from the loss or damage to the vehicle in addition to a third-party liability, which may occur.

What is theft cover?

If you have a comprehensive bike cover, you will be covered for the theft of your bike. Those who do not have a comprehensive cover might face a huge loss in case of theft of the bike.

Theft of the bike could be a huge blow for you. However, if you have a comprehensive bike insurance plan, you will be covered for the mishap.

Steps to claim insurance for theft of the bike

The process of filing a motor insurance claim in case of the theft of a two-wheeler is simple and hassle-free. It includes the below-mentioned steps.

  • File a First Information Report (FIR)

In case of a theft claim, the first thing you should do is file an FIR at a police station near you. A copy of the report will be a mandatory proof of the theft and will clear the doubts of the insurer whether the theft is genuine or staged.

  • Connect with the Insurer

Once you file an FIR, you need to call the insurer to report the theft and let them know that you would wish to file a claim. You will now have to provide information about the policy like the policy number, registration details about the vehicle and all the additional details related to the theft.

  • Arrange the Documents Required for Approval

After you file an FIR and inform the insurance company, it is time for you to provide the necessary documents to complete the claim application. An important document, that you need to submit, includes the filled ‘claim settlement request form’, which should be signed or attested by you.

You will have to attach the original copy of the FIR, a copy of the registration certificate of the vehicle, a copy of the policy documents, one copy of your driving license, the signed transfer papers from the RTO and the original keys of the vehicle.

It is advisable for you to compare two wheeler insurance plans online and then make a buying decision so that you invest in a comprehensive policy, which covers for the theft of the vehicle. You can now buy bike insurance online without the need to visit the branch of the general insurance company in person.

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