FAQs Regarding Two-Wheeler Insurance Claim Settlement Process

What is the settlement of a two-wheeler insurance claim?

In the process of settling a two-wheeler insurance claim, the policyholder requests compensation from the insurer for the costs and damage the insured’s vehicle sustained as a result of an unlucky incident. The amount offered by the insurer at the time of a claim is determined by the insured’s two IDV wheelers as well as the type of policy selected by the insured—standalone own damage, third-party bike insurance, or comprehensive. The process to renew bike insurance must be done on time. *

How can I make a claim after a bike accident?

In the event of an accident, the actions listed below will assist you in filing an insurance claim:

• Make a note of the vehicle’s licence plate numbers that were involved in the collision.
• In accordance with your circumstances, submit an FIR at the closest police station. A copy of this and the other documents must be provided later to the insurance provider. Make a note of the time and place, if you can.
• As soon as possible, and absolutely before the deadline, inform the insurance provider of the problem.
• Send the necessary paperwork to the insurance provider.
• A surveyor will then be dispatched to inspect the damage and submit a report of his findings.
• The company will calculate the claim amount based on this report for two-wheeler insurance coverage.

How to make an insurance claim for a bike accident demise?

In the event of an accident, third-party insurance is offered to cover the liabilities associated with the passing away of a third party. You can use a two-wheeler insurance premium calculator to estimate the cost of the premium for your insurance. ] The personal accident cover is available to cover the owner-demise. You can submit an insurance claim for one of these two categories by completing these steps:

The immediate family or designated beneficiary of a personal accident policy receives 100% of the insurer’s payout in the event of passing away. How to apply for it is as follows:

• In the event of a fatal accident. You must first satisfy all legal requirements, which may include obtaining a death certificate, etc.
• Depending on the circumstances, an FIR must be filed at the scene of the accident. This will need to be copied for the insurance claim.
• As soon as you can, let the insurance company know. The specific documents you need for the process will be explained to you because they may change depending on the circumstances.
• Send in the necessary paperwork and papers.

How can I make a bike theft insurance claim?

You can file an insurance claim for bike theft using the methods below:

• Make a trip to the closest police station as soon as you realise your bike is missing and register an FIR there. A copy of this is required in order to submit the claim.
• Next, let your bike insurance provider know so they can let you know what paperwork is needed to complete the claim.
• Once the police have submitted the no-trace report, you must submit the necessary paperwork. The insurance provider will need to get copies of all the bike’s paperwork and the keys.
• Your IDV and the depreciation it accounts for will determine the claim amount you receive. *

What is the earliest possible date the insurer should settle a claim after receiving all necessary paperwork?

After you have turned in all the necessary paperwork, the insurance claim shouldn’t take more than 30 days to process. It should be finished within six months, except in extremely rare circumstances where additional research is required, or there are additional difficulties. Always make sure that you renew the bike insurance on time.

* Standard T&C Apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.