Understanding how to make a bike insurance claim can make it easier for you to utilize your coverage if an unfortunate event ever occurs.
Whether you are dealing with minor scratches or significant accident damage, this article will equip you with the knowledge you need to handle your bike insurance claims.
Bike insurance can be of two kinds, own-damage and third-party liability.
Own damage insurance covers the damage caused to the policyholder’s motorcycle. This means that if your vehicle gets damaged in an accident, natural disaster, theft, or an act of vandalism, your policy will cover the repair costs.
Third-party liability insurance covers the damage or injury caused to a third-party vehicle or pedestrian. In such cases, the injured person can claim your policy.
These policies do not cover the damage caused to the policyholder’s vehicle.
If your vehicle is damaged in an accident or other mishap, you can request either a cashless claim or a reimbursement claim.
Here are the steps to take for raising a claim with your insurer:
Step 1: Click photographs and videos of the damages for evidence.
Step 2: Initiate the claim as soon as possible by contacting your insurance provider. Most insurance providers have a dedicated helpline for this.
Step 3: Report the incident to local authorities. If your vehicle has been stolen, severely vandalized, or damaged file a First Information Report (FIR) at the nearest police station. The FIR document is required to make a claim.
Step 4: A surveyor from the insurance company will visit to verify the damage or loss of the bike.
Step 5: Once your claim is approved you can either go for a cashless claim or a reimbursement claim. For cashless claims, you can repair your vehicle at a garage in your insurer’s network.
For reimbursement claims, get your bike repaired at your preferred garage. The cost will be reimbursed by the insurer.
Step 6: Keep all the documents related to the incident and the claim including FIR, claim form, repair bills, etc. If you are going for a reimbursement claim you will need to submit all these documents to the insurer.
If you go for a cashless claim all the documentation will be taken care of by the network garage.
Third-party bike insurance can be claimed if you are the victim or the perpetrator.
If you are the victim, meaning your vehicle is damaged and/or you are injured, follow these steps to make the insurance claim:
Step 1: Collect the information of the vehicle owner who caused the accident. Gather details like their contact details, registration number, and insurance information.
Step 2: File an FIR at the nearest police station.
Step 3: Contact the insurer of the person who caused the accident. You may need to provide them with the policy details and your contact information.
Step 4: Gather evidence in the form of photographs and videos of the accident, damages, and injuries.
Step 5: Collect all the documents – FIR copy, your license and registration certificate, medical bill and reports, repair bills or estimates, witness statements, etc.
Step 6: Submit the claim to the Motor Accident Claims Tribunal (MACT) which has jurisdiction over the location where the accident took place.
Step 7: MACT will summon you and all the parties involved to present their cases. The tribunal will examine the evidence before passing an order for compensation.
Step 8: Once the MACT decides in your favor, the insurance company will pay you the compensation.
If you are the one who caused the accident resulting in damages or injuries, follow these steps:
Step 1: Exchange information (contact details, policy details, registration certificate, etc.) with the affected party.
Step 2: File an FIR at the nearest police station.
Step 3: Contact your insurance company and report the accident.
Step 4: Your insurance company will handle the process on your behalf but you may need to attend hearings if the case goes to the MACT.
Most insurance companies will provide you with legal representation.
The table below lists the documents required for raising an insurance claim in case of third-party liability, own damage, or theft:
FIR
Copy of insurance policy
Details of the involved third-party
Police investigation report
FIR
Copy of insurance policy
Filled claim form
Repair cost estimates
Repair bills and receipts
Photos of the damage
Identity proof (Aadhaar, driving license, etc.)
FIR
Original documents and keys of the bike
Copy of insurance policy
Filled claim form
Acknowledgment of the complaint made to the police
Insurance companies will cover the repair cost of scratches if they were caused due to an accident or collision. The policyholder can make a claim under comprehensive coverage.
However, for minor scratches, it is advisable not to claim as it could impact your no-claim bonus and higher premiums in the future.
In this guide, we explore two primary types of claims: own damage and third-party liability. For own damage claims, it's important to document the incident and report it to authorities.
Third-party claims require coordination with the involved parties and legal authorities and may end in a tribunal decision.
By following these steps and keeping all necessary documents handy, you can navigate the bike insurance claim process with ease.
A no-claim bonus (NCB) is a discount on your insurance premium for not making any claims during the policy term.
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