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Things to consider before you file a two wheeler insurance claim?

By Finserv MARKETS - Mar 28,2019
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When Not to File a Two Wheeler Insurance Claim?

For the owners of two-wheelers, purchasing a two wheeler insurance is mandatory. A comprehensive bike insurance plan essentially covers you in two cases, during the accident and during the theft of your vehicle. However, to ensure that your bike insurance claim is settled smoothly, there are certain factors that play an important role. Below is a list of things you must consider to ensure a hassle-free claim process.

Go through the coverage provided by your two-wheeler insurance plan:-

While filing an insurance claim, make sure you are well aware of the inclusions and exclusions of the policy. This will reduce the chances of your claim rejection. Also, before you purchase a two wheeler insurance plan, you must research about the policy as well as review the insurance provider you are opting for. It is advisable to opt for an insurance provider that provides wide coverage and has the least exclusions.

Gather the required documents beforehand:-

In case of an unfortunate accident or theft of your two-wheeler, ensure that you have all the required documents to make the claim successful.

In case of theft, it is important to first notify the police and register an FIR. This is because the FIR copy provides strong evidence of the loss.

Immediately Inform the Insurance Company:-

Once you have lodged a police complaint, the next step is to notify the insurance company with whom you have purchased the bike insurance.

Whereas, in case of an accident, if you wish to file a successful bike insurance claim, make sure you inform the insurance company post-recovery.

Each claim requires a different set of documents. It must be noted that all insurance companies have strict rules and regulations and they have the right to deny/reject your claim if you are unable to meet any of the mentioned requirements.

Take Advice of a Legal Practitioner:-

It is recommended to get in touch with a legal adviser to get things on the right track and to avoid any inconvenience in the later stage.

With leading Non-Banking Financial Companies (NBFCs) like Finserv MARKETS, you can buy bike insurance online in a hassle-free manner. Two-wheeler insurance plans on Finserv MARKETS provide a wide coverage along with round-the-clock assistance. Additionally, you can also register for your claim online by following a few easy steps. So what are you waiting for? Buy your bike insurance with Finserv MARKETS, today.

Also, know more about bike insurance claim settlement overview.

Read our top blogs to know more about two wheeler insurance in India:

“Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we works towards fulfilling all your personal and financial needs. What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.”

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522