In India, it is mandatory for the owner of two-wheeler to purchase insurance. Once you purchase an insurance policy, it covers you in two important cases – during an accident, or in case of a theft of your two wheeler. Certain factors play a vital role in smoothly claiming the insurance.
When can you file for a bike insurance claim?
Comprehensive bike insurance can be claimed under following circumstances
- When you meet with an accident where the bike gets damaged
- When you hurt yourself in a bike accident
- When you hurt someone else in an accident, or damage their vehicle or property
- When your bike gets stolen
Whenever you are faced with such difficult situations, you would want a quick and easy claim settlement. However, a process for claiming the insurance must be followed. If you don’t adhere to the claim procedure or make any other error, there might be some challenges in the settlement of your claim.
Let’s understand the two types of claim
- Cashless settlement of claim
- The entire procedure is cashless, and you won’t be obliged to pay anything apart from the deductible agreed on beforehand
- Reimbursing the claim
- You must inform your insurer, get your bike repaired, pay for the cost of repairs and then ask for a claim
- After proper verification, the insurer pays out your claim amount after deducting the deductible
Before filing the bike insurance claim, consider the following 8 things:
- Check the claim settlement ratio compared to the premium paid
- Get your bike repaired from a registered garage only
- Check the documents you should be holding
- Immediately inform the insurance company
- Check the duration of the insurance
- Check the premium you have paid earlier
- See what is exempted from the policy
- Contact a legal adviser if necessary
Avoid making the following mistakes while purchasing a bike insurance
- Do not forget to transfer the bike insurance policy in case you purchase a 2nd hand bike
- Make sure you are registering correct personal details
- Mention a nominee for reference, who can claim the insurance on your behalf in case of any unfortunate events
Considering the increasing number of accidents that happen everyday, and keeping in note the above mentioned points, there is no option but to get your bike or two wheeler insured. This helps in tackling the risk in difficult situations. Bike insurance can prove to be costly, but if you plan it properly, it will be very useful when you face unfortunate events. Be smart while you go for bike insurance renewal, get a bike insurance quote, and purchase an insurance that gives a comprehensive coverage and yet, is cost-effective. Ride your bike safely, happily and peacefully.