If there is an unforeseen incident and your bike insurance needs to be claimed, then timing is very important. If delayed, it can affect the settlement amount, depending on the policy’s terms and conditions.
Knowing how to claim bike insurance helps keep the process organised. Read on to explore how a delayed bike insurance claim may impact approval.
What is Considered a Delayed Claim in Bike Insurance?
A claim is delayed in a bike insurance policy if the matter is raised to the insurer at a later date. Here is a detailed outline of the duration for the bike insurance claims notification period, applicable to every two-wheeler insurance in India:
- For only accident/own damage: Incase of any damage you need to report the case within the next 24-72 hours.
- For vehicle theft: File an FIR with the police and submit it to the insurer, typically within the next 24 hours.
- Injury/death of third party: Inform the insurer immediately, as there can be an issue with the legal time frame through the Motor Accident Claims Tribunal.
How does a Delayed Bike Insurance Claim Impact Your Claim Approval?
Rejection of Claims
A delay in bike insurance claim intimation can impact the claim approval. If the insurer fails to verify important incident details, the claim may be impacted under the policy terms and conditions.
Reduced and Partial Payout
Some repair and damage expenses may not be considered if they are not clearly linked to the incident. The actual approved amount depends upon the policy coverage and claim evaluation.
Slow Claim Settlement
Delays in reporting or late submission of documents can extend the overall claim process. The insurer may need additional information before completing the assessment.
More Strict Investigation
A delayed claim may require further verification and reporting. This may include reviewing documents, images and any other available evidence.
Tips to Follow to Avoid Delays During Bike Insurance Claim Process
Here are some useful tips to follow to avoid delays in the claim process of bike insurance:
Inform Insurer Immediately
Report the incident to the insurer immediately. By giving an early intimation, the assessment process is empowered to begin with relevant information.
Keep Relevant Documents Ready
Keep relevant documents such as the policy details, registration certificate, driving licence, photographs and other records easily accessible. Based on the nature of the claim, there can be a requirement for additional documents.
Follow the Claim Process
Review the insurer’s claim procedure and follow the necessary steps carefully. Keep the relevant information ready to support on time claim processing.
Keep Evidence of the Incident
Capture clear images of the bike and its affected area, where possible. Also, keep other relevant details ready to support the claim assessment.
Report Bike Insurance Claims Instantly with IndusInd General Insurance
IndusInd General Insurance provides online options for bike insurance claims. The claims can be intimated in the IndusInd Insurance App or by reaching out to the claims team. Depending on their claim needs, policyholders can choose cashless settlement at network garages or reimbursement. These services offer easier ways to create and handle claims. For further details, check the policy terms and claims requirements.
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