What is a bike insurance cover?
A bike insurance plan is a type of insurance cover that protects bikes and scooters. There are two main types of two-wheeler insurance covers:
1. Third-party coverage: As the name suggests, a third-party bike insurance plan provides coverage against all third-party liabilities. If you happen to get involved in an accident and damage another vehicle, you will be liable to pay for the repairs. Also, if a third party or their property is harmed, you will have to compensate them. A third-party plan comes in handy then because the insurance provider pays the third party on your behalf.
2. Comprehensive coverage: Under the comprehensive bike insurance coverage, you get all the third party covers, and also get coverage for your own vehicle. A comprehensive plan is more expensive, but it has a greater umbrella of coverage. You can keep your vehicle safe and secure at all times with the help of a good and wholesome comprehensive two-wheeler insurance plan that is easily available.
Choose the type of plan that you think would be best suited for your two-wheeler, and when there is a need, make a claim on the cover.
How to make a third-party bike insurance claim?
It is very simple to make a third party bike insurance claim. All you have to do is:
- File an FIR at the closest police station and as early as possible.
- Get the third-party bike insurance details from the owner of the other vehicle involved in the accident.
- Obtain a copy of the chargesheet filed by the police.
- Submit all the documents, along with a duly filled claim form, to the insurance provider.
Once you follow these steps, you can get the claim amount smoothly.
How to make a comprehensive bike insurance claim?
If you are filing a claim under a comprehensive bike insurance plan, you have to follow these steps:
- Inform the insurance provider: The first and most important thing for you to do is inform the insurance provider. You should ideally inform the insurer at the earliest as any delay in this step can hamper the entire process of getting the claim. You can call your insurance provider and tell them about the accident, theft or any other type of mishap. You can also inform them via email.
- File an FIR: As soon as you are done informing the insurance provider, rush to the nearest police station and file an FIR. If there is an accident or theft, you will need to get hold of the charge sheet copy and submit it along with the claim form to your motor insurance company.
- Get the damage evaluation done: In the case of serious and severe damage, the insurance provider will send a surveyor to evaluate the damage. After that is done, the surveyor will submit a report to the insurance provider, and your final claim amount will depend on the report. Get the evaluation done at the earliest so that there is no delay in getting the claim.
- Wait for the claim: After you follow the steps and submit the claim, you will simply have to wait for the insurance provider to pay the claim out to you. You can get the claim quite quickly, provided it is a valid claim, and all the documents are in place.
Cashless settlement in bike insurance claims
There are two types of claims in bike insurance. The first one is the cashless claim, and it is, by far, the most popular form of claim. Your motor insurance company has tie-ups with several motor garages. These are called network garages and are spread all over the country. As a policyholder of the insurance company, you can take your vehicle to any of the network garages after an accident and get it repaired. You don’t have to make any payment. Just inform the insurer and they will pay the garage directly on your behalf. You just have to pay the copay amount as per the clauses of the policy.
Reimbursement claims in bike insurance
The other form of claim in bike insurance is a reimbursement claim. Here, you pay the bill amount to the garage. You keep all the bills with you and later file a claim with the bike insurance company, along with all the required documents. A reimbursement claim is usually made when the vehicle is taken to a non-network garage or when the claim is for theft or fire damage.
Check the exclusions
Every two-wheeler insurance policy has a set list of exclusions. This is applicable to comprehensive as well as third-party bike insurance plans. You must read the exclusions very carefully and understand the scope of coverage. For example, if an accident happens due to drunk driving, you cannot make any claim. Once you know what you can make a claim for, the process becomes quicker and easier.
Conclusion
As you might have already realised, you need to follow some very simple steps to get a two-wheeler insurance claim. You need to file a claim based on the type of plan you have. You should go through the policy document very carefully to ensure your claim is legitimate and valid. Then, submit the documents with care, and your claim will be processed. Also, remember to renew your bike insurance policy on time. Unless you have a valid two-wheeler insurance cover, you cannot even make a claim. So, don’t allow your plan to get delayed for even a day, for you never know when the need for a claim may arise.
(This article is generated and published by the ET Spotlight team. You can get in touch with them on etspotlight@timesinternet.in)
