How Many Times Can I Raise Bike Insurance Claims In India?

There is no legal limit on the number of bike insurance claims you can raise in India within a single policy year. However, filing multiple claims may lead to higher renewal premiums and the loss of your No Claim Bonus.

In this blog, we will explore what happens when you file multiple bike insurance claims, as well as what the best time is for raising claims. Read on to better understand the bike insurance claim process!

What Happens if You Raise Multiple Claims?

If you raise multiple bike insurance claims, it can affect both your policy benefits and overall cost of insurance over time. Here’s what you need to know about its impact:

No Claim Bonus

It is a benefit given in the form of a discount by the insurance company when no bike insurance claims are raised during a policy year. However, if you make multiple claims in a year, you significantly lose out on this benefit by losing accumulated discounts.

Increased Premium

If you frequently raise claims during a policy year, your insurer may increase your premium at the time of renewal. This is because multiple claims signal higher risk, prompting insurers to adjust the premium to balance that risk.

Zero Depreciation Claims

In this scenario, if you choose the zero-depreciation insurance rider in your bike insurance coverage, it raises the limits for insurance claims. Yes, you should be aware that there will usually be a restriction on the number of claims made in a particular policy year. Generally, you can have bike insurance claim limits for a minimum of 2 times before reaching the claim limit.

Deductibles

However, if the cost of repairs does not exceed the exact deductible amount in your insurance contract, then it would be more beneficial not to file a claim since this can bring you very little money, and the deductible needs to be deducted first.

Also Read: Tips for Buying a Bike Insurance Policy Online for the First Time

When Should You Not Raise a Bike Insurance Claim?

If you are confused about whether you are making a bike insurance claim at the right time or insurance is not needed, understand the situation and measure the cost-benefit. If you make sure that the filed motor insurance claim helps you plan repair and maintenance better, raise it.

Deductibles

You must avoid making a bike insurance claim if the bike repair amount is close to the deductible or lower than it. This is because you have to pay the entire amount from your own pocket, and the insurer offers a small amount or no payout and reduces the bike insurance claim limit. So, raising a claim is not necessary.

NCB vs Repair Costs

If your bike repair cost is higher than your insurance NCB discount, do not raise a claim. You can lose the entire NCB discount to repair your bike and also lose the chance of making a claim under your insurance policy.

For instance, if your bike repair cost is ₹1,500 and your NCB discount offers ₹2,000 on policy renewal, it is better to avoid raising any claim.

Third-Party Liability

If your vehicle is damaged due to a third party, the responsibility for the loss lies with them. In such cases, you can claim compensation from the third party instead of bearing the repair costs yourself.

What is the Bike Insurance Claim Procedure?

Before raising a claim for damages, the first step is to inform your insurer as soon as possible. Here is how the process typically works:

1. Click photographs of your damaged bike as well as the accident site. This will help you when the insurance officer inspects the bike.
2. Once you have informed your insurance company, they will send a surveyor to evaluate and assess the damage. Share the photos you took.
3. After the inspection is completed, you will need to fill out the claim form and submit all the necessary documents to your insurer.
4. Once your documents are verified, the insurer will arrange for your bike to be taken to the nearest network garage for repairs under the cashless settlement process.

With insurers like Bajaj General Insurance, the online two-wheeler insurance claim process is designed to be hassle-free.

Also Read: Types of Bike Insurance

What Documents are Required for a Motorcycle Insurance Claim?

To successfully process a claim, you need to submit a few essential documents for verification. If you are wondering what documents you need for a motorcycle insurance claim, take a look:

1. Duly filled claim form
2. Tax payment receipt
3. Bike’s RC copy
4. If claiming for third-party damage, a copy of the FIR or police report
5. Estimated bill for damage repair
6. Driving license
7. Your bike insurance policy documents

Final Word

There is no limit to the number of bike insurance claims you can raise under your policy. However, it is generally advisable to avoid multiple claims, as it can impact your No Claim Bonus and other related policy benefits.

Whenever you raise a claim, ensure you inform your insurer promptly and keep all necessary documents ready to enable a quick settlement process.

For added convenience and reliable coverage, choose Bajaj General Insurance and renew your bike insurance in just a few simple steps!

Frequently Asked Questions

Is it possible to file a bike insurance claim offline?

Yes, it is possible to file a bike insurance claim offline by visiting the insurer's branch office. You need to submit the physical documents, or you can inform them via phone.

What is the benefit of buying bike insurance online?

Buying bike insurance online is convenient as it saves time and reduces cost. Additionally, you can compare plans before buying the one that fits your needs. Also, you get real-time quotes.

Can I raise claims for minor damages?

Yes, you can raise claims for minor damages under a comprehensive bike insurance policy.  However, you should also keep in mind that filing a small claim usually leads to loss of NCB.

*Standard T&C apply.

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