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How to Claim Insurance for Bike in 2024

Anyone who owns a vehicle will have an insurance policy as the government has made it mandatory. We will tell you why two-wheeler insurance is mandatory.

It is in the interest of the vehicle owner as it provides financial assistance for repair work of the bike in unexpected situations like accidents, floods, cyclones, etc. In such events, one would want to cover the loss with a policy.

Simplest and Most Convenient Ways to Avail Bike Insurance

Here is the detailed procedure to be followed in case of an accident:-

  • If your bike has been in an accident and requires repair work, you will need to contact your insurance company.
  • An authorized representative will be sent to assess the extent of damage caused to the bike. He will register your insurance claim later. You will then be given a claim registration number.
  • You should use this number for reference while the settlement process is going on.
  • Take the bike to the nearest garage for repair work and start the work.
  • Make sure to collect all the bills for repair work.
  • You can then claim reimbursement, or you can get the repair done at a garage where a cashless facility is available.
  • In case the vehicle is stolen or there is an accident resulting in injury to a third party or damage to the third party’s vehicle, then in these circumstances, the person has to lodge an FIR at the police station nearest to the accident site.

What documents are required to claim bike insurance

  • Insurance claim form.
  • RC copy of the bike.
  • Tax payment receipt copy of the bike.
  • driving license
  • Insurance policy document.
  • FIR copy in case of third-party bike damage, injury, or death to a third party.
  • Repair bills and receipts.

Here is the detailed procedure to be followed in case of bike theft:-

  • Go to the nearest police station and lodge an FIR.
  • You have to hand over the keys to the stolen vehicle to the police station.
  • Notify your insurance company.
  • Inform RTO.
  • They will prepare an RTO transfer paper and give it to you along with Forms 28, 29,30, and 35.
  • Get a No Trace Report or Untraced Vehicle Report from the police saying that the vehicle was not found.
  • Usually, it takes one month to prepare this report.

Submit the following documents to the insurance company:-

  • FIR copy.
  • insurance claim form
  • rc copy of bike
  • driving license.
  • RTO transfer papers with Forms 28,29,30 and 35. Once the insurance company receives all the relevant documents, their investigators will begin searching for the stolen vehicle.
  • No trace report was submitted by the police.
  • After receiving all these documents, the insurance company will prepare an Insured Declared Value IDV of the stolen vehicle if it is not found after 90 days from the date of theft.

The user has to pay attention as the process usually takes 3 to 4 months. However, this will ensure that you get another bike without the financial burden.

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Also Read: How to Claim Insurance for Car Dent in India without insurance

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