Cashless Bike Insurance Claims

With the ever-rising number of vehicles on the road, insurance providers have come up with several benefits and conveniences related to insurance policies. One such policy is cashless bike insurance.

In this cashless bike insurance scheme, vehicle owners can take their damaged bike to a garage partnered with the insurance company and avail of cashless services. This way, the owner-driver doesn’t have to pay for the repair expenses. Instead, the insurance company directly settles the final bill with the garage.

Generally, all insurance providers partner with numerous such garages across the country to enable their policyholders to access the cashless bike insurance facility. However, the availability of a cashless claim in bike insurance varies based on the type of insurance coverage, which is elaborated on below.

Third-Party Bike Insurance

Third-party bike insurance is a basic cover mandatory for all vehicle owners to drive on public roads. This insurance plan covers the cost of damage caused to the third party involved in an accident. However, third-party liability cover does not provide any financial coverage to your two-wheeler and, thus, does not qualify for the cashless claim in cashless bike insurance.

Comprehensive Bike Insurance

A comprehensive bike insurance plan provides extensive coverage to safeguard you against third-party liabilities and damages to your own vehicle. Such an insurance policy also offers coverage against theft, natural calamities, fire, explosion, personal accidents, etc. With comprehensive insurance, you can avail of cashless bike insurance claim settlement to cover the repair expenses!

In case of an unfortunate mishap, you can take your damaged two-wheeler to the nearest network garage associated with your insurer. Once you transport your vehicle to the garage, you can then proceed to file a cashless bike insurance claim. The steps you would have to follow are outlined below.

• Notify your insurance provider regarding the incident by contacting them via call or email.

• Take your two-wheeler to an authorised network garage. Here, your vehicle will be inspected by an individual appointed by the insurer.

• After receiving approval from the insurance company, the garage will begin to repair your bike.

• Meanwhile, submit the required documents to the insurance provider along with the duly filled claim form. If any specific document is required, your insurer will inform you of the same.

• The insurance provider will verify the details of the cashless claim in bike insurance and will either accept or reject the claim.

• Upon successful verification, the insurer will make a cashless bike insurance claim settlement by paying the repair expenses directly to the garage. Keep in mind that you might have to pay the applicable deductibles, if any, out of your own pocket. 

• Once the damage has been fixed, you can collect your two-wheeler from the garage.

Note: In the case of third-party damage, you can take the details of the owner of the other vehicle involved in the accident. However, for major damage or theft of your vehicle, you might have to file an FIR report at the nearest police station before initiating the cashless bike insurance claim process. 

While raising a claim under a cashless bike insurance plan, it is advisable to keep the following documents ready. This will ensure that the process goes on smoothly without any hassle.

•  Bike insurance policy document

• Driving licence

• Registration Certificate (RC)

• Original repair bill

• Copy of FIR in case of a major accident or theft

• Pictures or videos of the damaged vehicles

There are numerous reasons why your cashless bike insurance claims may get rejected by the insurance company. It is important to know what they are since they can help you stay away from them when you actually file a cashless bike insurance claim. Some of the most common reasons for rejection have been elaborated below.

• Damage caused while driving without a valid driving licence or under the influence

• Fraudulent cashless bike insurance claims

• Delay in notifying the insurance company regarding the cashless bike insurance claim

• Loss incurred by the bike outside the specified geographical area

• Any natural wear and tear or depreciation

• Loss resulting from using the vehicle for purposes not mentioned in the plan

• Any claims raised under an expired bike insurance policy.

Cashless bike insurance claims have made it easier for vehicle owners to complete the bike insurance claim settlement without making payment upfront. By opting for this facility, vehicle owners can enjoy a simple, convenient, and hassle-free claim process!

You can only avail of the cashless bike insurance facility if you have a comprehensive insurance plan. So the next time you purchase or renew a two-wheeler insurance plan, make sure to opt for a comprehensive plan. On the other hand, if you still haven’t financially protected your two-wheeler with the right insurance policy, head over to Bajaj Markets and get a suitable plan today.