Claiming for Minor Scratches in Bike is Right?

Keeping your bike free from dents and scratches is one of the most crucial bike maintenance tips for the longevity and enhanced performance of all the bike components. But no matter how cautious you are, your new bike might get minor dents or scratches after some time. However, the question that strikes the mind of a bike owner is 'should I raise claims for bike starches under my bike insurance policy?' Let's find out.

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Should I Raise Claims for Scratches in Bike Insurance?

Yes, you can raise your bike insurance claim for scratches but make sure you have a comprehensive bike insurance policy. Ideally, you should try to keep your bike free from dents and damage. But, it is unavoidable to keep it clean and shiny all the time.

But is it worth claiming insurance for some minor scratches? Well, the extent of damage to your bike will decide whether you should raise the claims because it impacts your No Claim Bonus (NCB) discount.

Why Should You Not Raise Claims for Minor Scratches?

When you purchase a comprehensive bike insurance policy, you get various risks covered, including the cost of damages due to an accident, natural or man-made disasters, loss covered for theft, etc. If you do not raise a claim for minor damages in your bike insurance, you will enjoy the following benefits-

  1. No Claim Bonus

    NCB is a discount offered by the insurance company for not raising a single claim in the policy tenure. If you raise a claim, your discount percentage will drop to zero, and the NCB discount cycle will reset.

    If you raise a claim for small damages or scratches, you will realize that this has caused more financial losses than the repairing cost at the time of renewal. Thus, you must understand that you should always try to raise claims for any major repair or theft.

    However, you can also buy NCB protection cover to enjoy the benefits of NCB discount even if you raise a claim. Obtaining an NCB protection cover is one of the significant purchases that will help you even if you file claims for scratches or minor damages. It costs more than 5-10% of the standard bike insurance policy but keeps the NCB intact even though you raise a single claim. Moreover, NCB protection cover is recommended for those who own expensive bikes or superbikes as the cost of repairing minor scratches is certainly very high and might create financial distress.

    You can also refer to the below table to understand how the amount of bonus keeps on increasing for not raising a claim each year-

    Number of Claim Free Years Percentage of NCB Discount
    1 claim-free year 20 %
    2 consecutive claim-free years 25%
    3 consecutive claim-free years 35%
    4 consecutive claim-free years 45%
    5 consecutive claim-free years 50%
  2. Lower Premium

    When you do not raise a claim for every minor damage, the insurance company offers a lower premium. This is because whenever you file a claim for the bike damages, the insurance premium rises significantly.

When I Should Raise Bike Insurance Claims?

There is no such limit on raising claims in your bike insurance policy. You can raise multiple claims within a policy tenure. However, it will affect your other-related benefits like NCB.

It is advised not to file the claims under your bike insurance policy when the compensation amount of the NCB discount is more than the damage repair expenses. Also, you should not apply for the claims when the repair bill amount is less than deductibles. Another case is when the third party is liable to pay for the damages that occurred during the accident, you should never brag to pay by yourself and take the benefit of this.

Conclusion

It is always a good idea to invest in the right bike insurance policy as it will financially protect you in case of major damages. However, it is not recommended to file a claim when your bike gets scratched or suffers minor dents. You can refer to the above paragraphs to understand when you should apply for the claims under your bike insurance policy.

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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

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^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.

^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.

#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.

*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)

#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.

*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis