Accidents are uncertain. No matter how careful you are accidents happen when you least expect them to. When you own a two-wheeler, the chances of accidents are more. Needless to say, accidents incur expenses. Expenses for repairing the damaged bike or for any injury suffered by you or for any injury caused to a third party. The list is long and the expenses are substantial.
Thankfully, the motor vehicle insurance law mandates vehicles to have a compulsory two-wheeler insurance cover. If you buy a comprehensive two-wheeler insurance cover, the various expenses associated with an accident are taken care of. However, the problem arises when you are not conversant with the claim process. Though the insurance company promises to shoulder your accident-related expenses, they require you to follow some steps for making a claim. Do you know these steps?
Most of you might not. That is why here is what to do when your two-wheeler meets with an accident:
Inform your insurer
The first and the foremost step, after meeting with an accident, is to inform your insurance company. This is the first step in raising your two-wheeler insurance claim. The insurance company requires you to raise a claim as soon as you face an accident. In case of minor accidents, the company guides you towards the next steps which should be taken. But, if you face a major accident removing your two-wheeler away from the accident scene or getting the repairs done without informing the insurer jeopardizes your claim process. The insurance company arranges for a survey at the accident scene for assessing damages which are not tampered with. Only after the survey the claim gets registered. This survey of untampered damage is possible only if the insurer is informed immediately. So, whether it is minor or major, call up your insurance company as soon as you face an accident and provide the required details.
Get your bike surveyed
As stated earlier, the insurer gets the damaged surveyed by its surveyor. In case of a minor damage, the insurance company might direct you to take your bike to the nearest authorized workshop. The insurer’s surveyor then visits the workshop and surveys the damages suffered. In case of a major accident, the surveyor, usually, makes a site visit and surveys the damages. This survey is important because the damages assessed and reported by the surveyor would be considered valid by the insurer in assessing the amount of claim to be paid. You would be guided on the surveyor’s visit once you inform the insurer.
Complete the repairing process
After the survey is done, repairs start. The repairing work might take time depending on the damage suffered by your two-wheeler. You would have to wait out the repairing period before taking the next step towards your claim settlement process.
The last step is filing your claim with the insurance company. This is done once your two-wheeler is repaired. The insurance company has a claim settlement form which you need to fill and submit. As survey has been done, the insurer knows the repair cost estimate. Still, you are required to submit all your repair-related bills in original along with the claim form. If you have sought services from a preferred workshop the insurance company would settle the repair costs directly with the workshop. If on the other hand, you have gotten your two-wheeler repaired at an unauthorized workshop you would have to pay the repair expenses yourself, file your claim, submit the relevant bills and get the claim reimbursed.
Check for your out-of-pocket expenses
Whether your claim is cashless or through reimbursement, you might not get the complete cost of repairs in claim settlement. There are some deductions which lower your claim amount. For instance, there is a compulsory deductible which is paid from your pocket in every claim. Similarly, the insurer factors in depreciation of the parts which have been repaired or replaced. As such, the claim is, usually, lower than the actual repair cost. So, you should check for such out-of-pocket expenses when you are raising your claim.
Making a claim in your two-wheeler insurance policy is not difficult once you know what to do. Though accidents are uncertain and emergent, if you know how to tackle with your insurance claim you can at least face the financial implications. So, know these steps, make a valid claim and get your claim settled easily and quickly.
Read more on why you should insure your bike