What is the Process of Settlement of Your Two-Wheeler Insurance Claims?

Selecting a bike insurance policy can at times get confusing. With myriad options to choose from it can be difficult to select that one plan that fits you the best. But in that process, do not forget to take a note of the claim settlement procedure. This article elaborates on the claim settlement procedure for your bike insurance claim. Let us have a look –

The process of settlement of your bike insurance claim

A two-wheeler insurance claim can either be cashless or as reimbursement. While the process is more or less similar, there are a few changes when it comes to an assessment of damage to your bike. Let us look at the step by step procedure of settlement of your two-wheeler insurance claim.

Step #1: Intimating a claim with the insurance company

Irrespective of the type of claim, the first step is common wherein you intimate your insurance company about the accident faced by your two-wheeler. You need to inform the insurance company either via telephone or using the email facility. Some insurance companies also have mobile applications from which claims can be raised.

Step #2: Assessment of damage

Once you have informed the insurance company, the next step differs depending on the type of insurance claim, i.e. cashless or reimbursement.

For cashless claims, once the claim is registered by the insurer, they will appoint a surveyor to assess the damage to your vehicle. The surveyor may either visit the location of the accident or the service garage. But this assessment needs to be done before any repairs have begun.

For reimbursement claims, once the repairs are completed, the insurer is required to be submitted with the invoices of repairs. On the assessment of the validity of the claim, the insurer pays an amount that is admissible as per the terms of the insurance as the payout.

Step #3: Towing and repairs

Once the surveyor assesses the damage and repairs required, you can proceed to repair your bike. Some insurers may provide free towing facilities whereas some insurance companies charge a fee. These towing charges vary among insurance companies.

Step #4: Settlement of claim

After the repairs are completed, the insurance company directly pays to the service garage in case of a cashless claim. For reimbursement claims, the settlement of the claim is made after assessing the validity of expenditure within the terms of your insurance contract.

Some common reasons why your claim can get rejected

Not all claims are accepted by the insurance company. Here are a few examples of claims that can be rejected by the insurer –

  • If the accident occurs outside the geographical limits specified by the policy, it can lead to a rejection of the claim.
  • An accident when the rider was under the influence of intoxication or other prohibited substances can be a sufficient cause of rejection.
  • If the vehicle was used for illegal activity, the claims shall not be passed by the insurance company.
  • Lastly, an expired insurance policy can lead to rejection of your claim application.

These are some points that you need to remember that can lead to rejection of your claim application. Apart from them, a two wheeler insurance premium calculator is a nifty tool that can help you choose between the various policies to choose from. Make a smart choice of insurance policy that not provides adequate coverage, but also has a hassle-free claim settlement process.

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