Steps You Should Take to Avoid bike Insurance Claim Rejection in India

Filing claims may seem a tricky process, but Coverfox ensures that you experience a hassle-free process with minimum paperwork. When it comes to claims, the insurance company covers the damages caused due to accident, theft, or third-party liability. Hence, one cannot claim for anything other than this. Sometimes your claims are rejected due to various reasons that you may not be well aware of. How about we tell you how you can avoid bike insurance claim rejection in India. Here are the followings steps you can take:

• Provide authentic information like your documents that are relevant while buying insurance online. Make sure you have complete documentation properly when you buy the policy online. You may not need it due to less paperwork system, but it is important at the time of filing a claim.

• When you go for the additional fittings that come under the add-ons cover, ensure that you keep safe all the receipts with you so that you can easily show it for future reference while filing a claim.

• Suppose, in an unfortunate case; you met with an accident, the specified time to report any incident or accident prompting a claim is 48 hours to 72 hours. If you fail to do so, your claim might get rejected.

• Be very specific while letting out the details. Make sure to give only the necessary information relevant to filing a claim.

• In the case of a stolen vehicle situation, it is important that you file an FIR as soon as possible. We understand you may lack clarity in mind at that time, but it is for your own good. Because a missing FIR may delay or lead to rejection of your claim.

Note: Sometimes, the claim process is delayed, or your claim request is rejected not because of the small mistakes you made in the process but due to the uneven or missing documents. This results in rejection or delay. But you need not worry because Coverfox comes with a dedicated team of experts who can guide you easily through the claiming process.

• Suppose you bought a second-hand bike, but you forgot to transfer it to your name in the insurance policy copy, there you may face a little trouble. The policy will be considered void, and further any claims you make regarding the vehicle, it will get rejected.

• In an unfortunate case, if your bike runs into an accident and then you got it repaired and fixed it without informing the insurance company thinking you can do that later as you can get it reimbursed. But it does not work that way as it gets tricky for the insurance company to keep track of the parts that actually got damaged and needed to be fixed. And thus, they might eventually reject your bike insurance claim you made.

• If you are using your private vehicle for commercial purposes and it faces damages or while you had parked it in a no-parking zone or you have seated passengers more than the allowed seating capacity, and a misfortune occurs, in these cases, the insurer will deny your bike insurance claim.

• Claims you make for the pillion rider without having a proper insurance cover for that person will eventually lead to claim denial. So, make sure you buy the necessary bike insurance policy covering everything.

While there are numerous points about claims, you cannot be sure how much support to expect from your insurance company. So, it is better to have an insurance advisor in the loop. For instance, as an insurance broking firm, Coverfox will help you decode the full claim procedure from the insurance company’s end, ensuring success in the claiming process.

Four simple steps to follow for filing a bike insurance claim:

Step 1 – Contact your bike insurance company: Get in touch with your insurance company as early as possible to register for the claim. If delayed, it may create complications in your claim process.

Step 2 – File an FIR: If your bike has been stolen or faces a major accident, the first thing to do is lodge an FIR at the nearby police station. It is not only an important document for initiating claim settlement but also speeds up your claim approval.

Step 3 – Evaluate the damage caused: In the case of accidental damage, you must have the damage evaluated as soon as possible by a professional at a garage. Even better if it's an authorized garage of your insurance company. Doing this will make you eligible for cashless benefits at the garage.

Step 4 – Settling claim via reimbursement: Make payment to the service centre to begin the claim process. Fill the forms with the required information and then submit them along with the other documents to ensure a fast and hassle-free claim settlement.

A comprehensive cover not only financially secures the third party against accidental damage, injury, and death caused by the insured bike, it also extends the same benefits to the insured two-wheeler. Below are the necessary documents that you are supposed to submit for a fast and hassle-free claiming process:

• Duly signed claim form.
• Copy of valid vehicle Registration Certificate (R.C.)
• Copy of valid Driving License (D.L)
• Copy of the first two pages of the policy document.
• FIR for accidental damage.
• Original repair bill, cash receipt, and proof of release.

Cashless claim settlement:

You can get your bike fixed from any of the cashless garages as listed by your two-wheeler insurance provider. In this process, you don’t have to pay anything except for the deductible you agreed for.

Reimbursement claim:

In this process, first, you inform about the accident to the insurance company, then get your bike repair approved, pay the expenses from your pocket, and after that, file a claim. When you provide the repair bills, the insurance company will do the verification formalities and compensate the claim amount minus the deductible.

Note: Once you file a claim for your bike, you lose out on NCB (No Claim Bonus). Hadn’t you made a claim, you could have accumulated the NCB, resulting in lowering your premium in the further policy year. But if you did, the premium will automatically increase in the following year.

For example, Let's say that in a small accident, your bike's rear-view mirror got broken. Since your bike is insured, you decide to claim for the damage caused. This way, you won't have to pay for the repair, but in doing so, you will lose your NCB: No Claim Bonus. We recommend you to not make claims for the minor damages. Doing this will eventually use up the No Claim Bonus, which is more fruitful than filing claims for small damages.

In short,

The steps mentioned above will help you avoid bike insurance claim rejections. Thus, you can file claims in a hassle-free manner. Also, make sure you read the claiming procedure properly. So, worry no more because Coverfox always comes to your rescue with its easy process and quick access.