There are mainly two types of procedures adopted by insurers for claiming compensation from their clients, depending upon the nature of the repair shop chosen and the mode of claim filing.
Cashless claim procedure is appropriate when the insured two-wheeler is taken to the authorised repair network garage of the respective insurer for repair work. In this case, the policyholder does not need to pay the repair costs up front. The bike insurance company will directly settle the approved cost of repair to the repair shop as per the terms and conditions mentioned in the policy.
In this type of claim procedure, the policyholder will only be responsible for paying the compulsory, voluntary deductibles and repairs beyond the policy terms.
The reimbursement claim procedure will come into play when the insured two-wheeler is repaired at a garage apart from the authorised network of the insurance company. In this procedure, the policyholder will be required to settle the total bill first and then file the claim with the insurer. After the insurer processes the claim filed by the policyholder, they will reimburse the approved claim amount after deducting relevant charges.
The process for filing your insurance claim will vary depending on the type of accident; however, there will be specific actions you must take to file an auto claim. You can notify the insurance company about the accident and file an automobile claim with them by completing the following steps:
Inform the insurance company immediately after the accident.
Register a claim through the insurer’s website, app, or helpline.
Take photographs of the damage and accident site if possible.
Submit the bike for inspection by the insurer’s surveyor.
Repair the bike at a network garage for cashless settlement or claim reimbursement after repair.
File an FIR at the nearest police station.
Inform the insurer about the theft immediately.
Submit required documents, including the FIR copy and policy details.
If the bike is not recovered, obtain a non-traceable report from the police.
The insurer settles the claim based on the bike’s IDV.
Inform the insurer immediately about the incident.
File an FIR if there is injury or significant property damage.
The claim may be processed through the Motor Accident Claims Tribunal (MACT).
The insurer evaluates liability and settles the claim as per legal requirements.
The required documents may vary depending on the type of claim.
Copy of bike insurance policy
Duly filled claim form
The driving licence of the rider
Registration Certificate (RC) of the bike
Repair bills and invoices
Photographs of the damaged bike
Copy of insurance policy
FIR copy
Bike registration certificate
Driving licence
Non-traceable certificate from the police
All bike keys
Claim form signed by the policyholder
FIR copy
Insurance policy document
Bike RC copy
The driving licence of the rider
Details of the third party involved
Court or tribunal documents, if applicable
The claim may get rejected due to not adhering to the conditions under which a claim can be made; also, claimants must provide all required documents. Reasons that claims are frequently rejected include:
Having no valid licence to operate a motorcycle
Motorcyclist under the influence of alcohol or drugs
Claim filed later than required
Commercial use of a motorcycle when insured for personal use
Claims due to mechanical failure/wear and tear
The insurance policy had expired before the accident
Facts were misrepresented at the time of submitting the claim
Policyholders should take precautions to minimise the chance that their claims are denied.
Let your insurer know as soon as possible after the incident happens.
Keep your driving licence valid.
Renew your insurance policy before it expires.
Don’t modify your bike without informing your insurer.
Give your insurer the true and accurate information and documentation.
Follow traffic laws and maintain safe riding behaviour.
The claim amount payable depends on the type of coverage under the bike insurance policy.
This claim will be settled at the lower of either the repair cost or the Insured Declared Value (IDV) (subject to any deductible and the Terms of your policy).
A typical legal personal accident cover will give a sum insured of ₹15,00,000 for you in the case of an accidental death or injury.
Compensation is determined by the Motor Accident Claims Tribunal and is not capped.
Damage to personal property can be claimed through the third-party product limit of ₹7.5 Lakhs only.
For any assistance during claims, you can contact help@coverfox.com, and our support team will help you through the process.
Disclaimer: Compensation limits, benefits and amounts can vary depending on IRDAI guidelines, as well as the individual insurer's policies and any applicable laws. It is highly recommended that all policyholders refer to their specific policy document for the most accurate information regarding damages covered.
The bike insurance claim settlement process is the process by which an insurance company offers compensation to the insured for financial losses caused by damage or incidents. Compensation is paid to the insured only after the insurance company verifies the claim details.
The FIR is considered mandatory in cases of bike theft or in accidents involving injuries, deaths, or damage to third-party property. However, for minor damage or small repairs, an FIR might not be necessary.
There is generally no legal limit on the number of bike insurance claims you can file in a year. However, claims can result in the loss of the No Claim Bonus, which may increase the insurance premium in subsequent renewals.
The claim is settled as follows: In case of theft, the insurance company initiates verification after receiving the FIR and the non-traceable certificate from the police authorities. If the bike is not traced within the stipulated time, the insurance company settles the claim by paying the Insured Declared Value to the insured.
Insurance claims can be denied for various reasons, including an expired insurance policy, a lack of a valid driving licence, failure to report the incident within the specified period, a violation of the insurance policy terms, or failure to supply all necessary documentation.
A claim can be filed online through the insurer’s website or mobile app, or by contacting the Insurer’s customer support via phone or in writing. Please ensure that all required documents are provided to the insurer when creating the claim.
A valid driving license is a necessity for a claim to be approved under most bike insurance policies. If the rider of the bike was not holding a valid license at the time of the incident, the insurance provider may decline the claim under the policy conditions.
Yes, a cancelled cheque may be required when making a reimbursement claim. It helps the insurance provider ensure the approved claim amount is paid electronically.
To claim bike insurance, a policyholder must notify the insurance provider, register a claim, and provide all required documents. Repairs must not start before a surveyor sent by the insurance provider inspects the damage.
The ideal bike insurance claim settlement ratio varies from insurer to insurer and may change with each new financial year. Ideally, a higher ratio indicates greater efficiency and reliability.
Scratches on a two-wheeler can be claimed under the own-damage portion of a comprehensive two-wheeler insurance policy. The insurance provider may allow a claim in this case, depending on the extent of the damage and its potential implications for the No Claim Bonus.
