Insurance companies can assist you in difficult situations involving the insured bike. The methods for this process can vary between insurance companies. No matter the process, you should make a few considerations for a successful bike insurance online claim settlement.

It is now easy to choose a suitable coverage with an affordable bike insurance price available online.*

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

Settlement of a bike insurance claim is when your insurance company gives you money to pay for bike repairs or legal fees.

There are three steps in the process:

1. Notify the insurance provider the reason for the claim.
2. The insurer verifies and examines the claim
3. As per terms and conditions of the policy, they settle the claim.

Ways to ensure a successful bike insurance claim settlement:

The following advice can help you submit a claim under a comprehensive bike insurance online policy that the insurance provider can accept and settle quickly.

1. Prompt notice: In your best interest, notify the bike insurance online provider as soon as possible of the incident for which you wish to file a claim.
2. Gather knowledge: To support your claim, gather as much information as you can. Examples of this proof include images, videos, newspaper clippings, links to online articles, etc.

Take pictures and videos of the damaged bike, for instance, if vandalism has caused damage to it. Please send any newspaper clippings or online stories that cover the local occurrence. These details are helpful in supporting your claim and assisting the insurer in approving your claim application.

1. The proper documentation: If you choose to file a reimbursement claim, you might need a First Information Report (FIR) for a severe bike casualty claim, a no trace report for an insurance claim of bike theft, and repair invoices from the mechanic.
2. Collaboration: Throughout the insurance claim settlement procedure, you must cooperate with claims team executives.

Two-wheeler insurance claims require the following information/documents:

Here is a list of the basic information and paperwork usually needed to file an insurance claim for a two-wheeler –

1. A two-wheeler insurance policy that is legally binding
2. Bank information or any transactional details
3. Your full name, address, and other contact information, like your phone number and email address.
4. Receipts and reports provided by the authorities.

How to avoid having a bike claim rejected?

1. Maintain the validity of your coverage by renewing it on schedule and filing claims under your current policy.
2. Do not claim for damages that you have no evidence of.
3. Do not give false information.
4. Follow the procedure outlined by the bike insurance claim provider.

Top add-ons for better claim settlement:

1. No depreciation: With this change, the value of a bike’s parts that have gone down won’t be considered when fixing or replacing those parts. The insurer may pay out more to you since they will not deduct the depreciation.
2. Protection for invoices: A bike can be deemed a total loss by insurers if it was either stolen or irreparably destroyed. In this case, you may receive compensation based on the bike’s Insured Declared Value (IDV). *
3. No claim bonus (NCB) protection: The NCB component is protected by this additional cover, even if you file a claim. In this way, you can file a claim and get a reward for renewing your policy.

* 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.