Cholamandalam Bike Insurance Claim Settlement

Cholamandalam Bike Insurance claim settlements are quick and efficient. You can get started with your Chola MS Bike Insurance claim process by getting touch with their dedicated support team. You only need a few important documents to initiate your claim and the claim process can be initiated online, making it a convenient option.

 

Additionally, Cholamandalam Bike Insurance has a claim settlement ratio of 94%.  This makes them a trusted option when it comes to claim settlements. 

How to File a Chola MS Bike Insurance Cashless Claim?

A cashless claim is one of the simplest ways to take advantage of specialised services without paying any cash out of your pocket. Cashless claims typically require little to no documentation as all bills are settled between the network garage/hospital and the insurer. 

 

Here’s how you can enjoy cashless claims: 

 

• Step 1: Get in touch with Chola MS Bike Insurance and inform them that you’re interested in making a cashless claim. You can file a claim by contacting them through their website or toll-free number. 

• Step 2: Once you’ve filed your claim, you will receive your reference number. Be sure to note this number down. 

• Step 3: Chola MS will then assign a surveyor, who will examine the damages on your bike. 

• Step 4: Post approval from the surveyor, your bike will be taken to an authorised cashless garage. 

• Step 5: After the repair is done, your bike will be delivered to your doorstep. Alternatively, you may also pick up your bike from the garage. 

You will not be required to settle the bill with the garage as Chola MS will take care of that for you. 

How to File a Reimbursement Claim for Your Cholamandalam Bike Insurance Policy?

A reimbursement claim is a type of bike insurance claim where you (the insured) settle your bills with the garage and later file a claim to have your bill amount compensated. Here’s how you can make a reimbursement claim with Cholamandalam:

 

• Step 1: Get in touch with Chola MS and intimate them regarding the damages incurred to your bike. 

• Step 2: You can now take your bike to the nearest garage or a garage of your choice for repairs. You may also choose to get your bike towed if it’s necessary. 

• Step 3: Settle the bills with the garage and be sure to save the receipts. 

• Step 4: Submit bills and other relevant documents to the insurer while raising a reimbursement claim. 

• Step 5: Once the claim has been verified and approved, the insurer will settle the compensation amount after accounting for deductibles, if applicable. 

Documents Required At Chola MS for Claim Settlement

When you raise a reimbursement claim, you will be required to submit a few documents. These documents will be used to authenticate your ownership of the vehicle and your claim. Here are some documents that you may be required to submit while raising for a reimbursement claim: 

 

• A copy of your bike insurance policy

• A duly signed and filled claim settlement form

• A copy of your driving licence

• FIR copy, in case of an accident or theft

• A copy of the registration certificate for your bike

• Original tax receipt

• Original invoices and payment slips, in case of reimbursement claim

• Original invoice of repair for cashless claim

In case your bike is stolen, you will be required to submit the following documents: 

 

• Theft declaration from the concerned RTO (Regional Transport Office)

• Subrogation letter

• A no-trace report for the stolen vehicle was issued by the police

• Form 28, Form 29, Form 30 and 35

Reasons for Cholamandalam Bike Insurance Claim Rejection

It’s best to be fully aware of the terms and conditions associated with your insurance plan to avoid rejections. While claim rejections are relatively low in India, there are still some circumstances that may disqualify you from benefiting from your insurance policy. Here are some common reasons for claim rejections: 

 

• Driving the bike without a valid driving licence at the time of accident or theft.

• Driving the bike without a valid insurance policy at the time of accident or theft. 

• Providing inaccurate or falsified information regarding the accident or theft. 

• Driving your bike outside of the geographical boundaries mentioned in the policy document. 

• Driving the bike while under the influence of alcohol or other illegal substances. 

• Indulging in illegal activities 

• Driving irresponsibly or disobeying traffic rules 

• Repairing your bike without informing your insurer regarding the accident 

How to Avoid a Rejection of Your Cholamandalam Bike Insurance Claim

Claim rejections can be a troublesome and expensive ordeal. So, it’s best to take good measures to ensure that your claims are in line with your insurer’s policies. Here are some simple steps you can take to avoid Chola MS Bike Insurance claim rejections. 

 

• Always drive with a valid driving licence. This will not only help you avoid claim rejections but also help ensure that you’re on the right side of the law. 

• Obey all traffic laws. Disobeying traffic rules not only endangers you and those around you but can also be cause for claim rejections. 

• Be completely honest while filing your claims. Leaving out crucial information or falsifying information  could lead to a rejection of your claim. 

• Make sure that there is an FIR in case of an accident or theft. Without an FIR, your claim may not be valid. 

• Make sure that all relevant documents and certificates are up to date. Any inconsistencies found in these documents may lead to a claim rejection. 

• If you purchase a second-hand vehicle, be sure to transfer the bike’s insurance policy. Do not forget to request for a transfer from the vehicle’s previous owner within 14 days of the vehicle’s purchase. 

Disclaimer: Cholamandalam MS General Insurance Company Limited

 

(A Joint Venture between Murugappa Group & Mitsui Sumitomo Insurance Company Ltd., Japan)

 

Regd. Office: Dare House, No.2, II Floor, N.S.C Bose Road, Parrys, Chennai, TN - 600 001. India. Trade logo displayed above belongs to “CHOLAMANDALAM FINANCIAL HOLDINGS LIMITED’ and Mitsui Sumitomo Insurance Company Limited and used by Chola MS under license. Toll-free No. Motor Insurance: 1800 208 5544, Health & Other Insurance: 1800 208 9100, SMS: ‘CHOLA’ to 56677, Whatsapp: 7305234433 |www.cholainsurance.com.

 

For more details on risk factors, terms, conditions and exclusion please read sales brochure carefully before concluding a sale.

 

Bajaj Finserv Direct Limited is a registered corporate agent of Cholamandalam MS General Insurance Company Ltd. For Bajaj Finserv Direct Limited, IRDAI Registration Number CA0551.