How to Negotiate a Bike Insurance Claim?

Bike insurance is an essential financial safety net in case of mishaps on the road. However, it is important to note that your insurer may not readily accept your claim request for those sustained damages in your bike. You must have to meet specific criteria for a successful claim settlement. In this article, we will guide you on settling online bike insurance claims smoothly.

Read more
  • Save up to 85% by comparing plans

  • 20+ Insurers to choose from

  • 1.2 Crore+ Bike Insured

*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.

No paperwork required! Renew insurance in 60 seconds⚡

Plans starting at only @ ₹1.5/day*

Enter bike number (e.g DL1SB1234)
Processing

7 Tips for Negotiating Two-wheeler Insurance Claim Settlement

Bike accidents can happen in the blink of an eye and cause huge damage to the bike. To repair the insured bike during the accident, you must go through certain procedures with your insurance company.

Here are 7 tips to improve your two-wheeler insurance claim settlement:

  1. Initiate the Claim Process Promptly

    After a bike accident, it is essential to kick-start the bike insurance claim process as quickly as possible. It is advised to inform your insurance company about the property damage or physical damages.

  2. Understand Your Bike Insurance Policy Coverage

    Not all bike insurance policies offer similar coverage. Your coverage may vary based on the type of bike insurance plan you have selected. While a third-party bike insurance policy covers third-party liabilities, a comprehensive bike insurance policy covers damages to your own bike as well. Therefore, you have to understand the specifications of your, which further lessen the chances of claim rejection.

    People also read How to Know If Insurance Is a Comprehensive or Third-party Bike Insurance Plan?

  3. Collect all the Crucial Records

    Keeping detailed records of the accident is vital. These records may include photographs of the incident site, the FIR if required, medical bills, and bike repair bills, particularly if you are making a reimbursement claim.

  4. Follow the Claim Settlement Process

    The claim settlement process for two-wheeler insurance has become hassle-free in recent times. When your bike meets with an accident, and the damages are substantial, you can opt to have the repairs done at an authorized network garage or a garage of your choice.

    If you choose the network garage, you can enjoy a cashless claim settlement. For repairs at a garage of your choice, you must opt for the reimbursement claim method.

  5. Realistic Expectations

    It is essential not to get disheartened if the claim settlement offer is lower than anticipated. The amount you receive is contingent on the type of insurance plan you have chosen and its terms. Be sure to review the policy coverage specifically exclusions, and deductibles before expecting a particular settlement amount.

  6. Regular Follow-up

    Generally, all motor insurance companies provide updates or claim tracking options in mails, SMS or their dedicated apps. However, it is advisable to keep in touch with them. Insurance companies may have multiple claims to process, so following up can expedite the settlement process. If you have purchased a policy from Policybazaar.com, you can connect with our customer assistance team anytime, anywhere.

  7. Written Confirmation

    If you are dealing with offline claim settlement, document all communications related to the bike insurance claim settlement. It is highly advisable to have the claim settlement details in writing for future reference.

    The claim settlement letter must have the final settlement amount, the covered damages/loss to the vehicle or injuries, and the expected settlement date. Upon mutual agreement with your insurer, ensure the hard copy of the claim settlement documents are properly dated and signed.

People also read 10 Things to Check in a Two-wheeler Insurance Policy

In conclusion

To ensure a successful bike insurance claim settlement, gather and maintain all necessary documentation, including photos, FIR reports, medical records, and more. Avoid relying solely on verbal claims, as insufficient proof can lead to claim rejection. Most importantly, notify your insurance provider promptly for a hassle-free and efficient claims settlement experience.

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

Two Wheeler insurance articles

Recent Articles
Popular Articles
Bike Insurance Add-ons: Zero Depreciation Cover V/s Return to Invoice Cover

03 Nov 2023

Among all the bike insurance add-ons available in the market
Read more
Dos and Don'ts While Filing Bike Insurance Claims Online

25 Oct 2023

When claiming on your bike insurance policy, you always look for
Read more
How to File a Claim for Bike Damaged Due to a Cyclone?

17 Oct 2023

Tropical cyclones are prevalent, causing a huge loss of human
Read more
How to Reduce Your Bike Insurance Premium by Avoiding Small Claims?

13 Oct 2023

For two-wheeler owners, adequate coverage is crucial to keep
Read more
Know All About Insuring a Pillion Rider in India

18 Sep 2023

With the rising rate of road accidents, the Insurance Regulatory
Read more
How to Check Vehicle Owner Details by Registration Number?
Did you know that you can extract vehicle owner details with the help of the vehicle registration number? Well, it
Read more
Get Your Vehicle Fitness Certificate from RTO
The Fitness Certificate (FC) of a vehicle is an official document that certifies the vehicle is fit enough to run
Read more
Best Two-Wheeler Insurance Plans in India
When choosing the best two-wheeler insurance plans, you must have seen several motor insurance companies offering
Read more
Documents Required to Purchase a New Two-wheeler in India
Buying a two-wheeler can be a significant step in one's life as nothing can beat the excitement of owning the
Read more
Is Bike Insurance Mandatory for 5 Years?
Amid the rising number of road accidents from uninsured two-wheelers, the Insurance Regulatory Development
Read more