The vehicle you own and travel on certainly cannot be obsolete regardless of anything. That’s how motor insurance comes into picture. This article will highlight on the process of claims that you should follow under a Bike Insurance Policy.
Bike insurance is nothing but a protection or a shield for your bike that you buy from the bike insurance company to offer coverage to your bike from any damages or loss or theft that takes place in case of a tragic accident. Reports highlight that in India, around 4 lac people meet with road accidents every month. Therefore, buying a bike insurance policy becomes indispensable need of every person riding their bikes on the Indian roads especially due to the pathetic conditions of the roads.
Two-wheeler insurance offers coverage to every two-wheeler, motor-bike, moped, scooters that are used for both personal as well as commercial purposes.
Motor insurance are of two basic types:
1. Cashless Claim Service
You can opt for a cashless claim settlement and then send your vehicle to a garage that comes under the network of the bike insurance company. In this case, all you need to do is make the payment for the compulsory deductible and that part of the coverage which is not offered by the bike insurance policy that is settled with the garage.
2. Reimbursement Claim Service
In case you wish to carry out the repairs for your damaged bike in a garage that doesn’t fall under the network of the insurer, all you need to submit is only the claim form that includes the repair bill along with the registration copy of the bike. Post this your bike insurance company will settle the bike insurance claim directly into your bank account.
You will have to first make the bill payment to the garage and then the same would be reimbursed to your bank account. Whether it is cashless claim settlement or reimbursement claim settlement, you need to ensure that the repairs cannot be done without a detailed inspection of your damaged bike by the two-wheeler insurance company. The documents remain the same in case of both the types of claim processes, except that under a reimbursement claim, you may need to furnish a cancelled cheque or provide your bank account details to getonline cash transfer done by the bike insurer.
Therefore, it is important that you have sufficient knowledge about the claim registering process for your bike insurance in order to get a hassle-free claim settlement done by your insurance company.
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