What Are the Requirement Documents for A Two-Wheeler Insurance Claim?
Every insurance company has there on claim settlement procedures. This necessary document that you need to submit for a fast and easy claims process:
- Duly signed the claim form
- Copy of valid vehicle Registration Certificate (R.C.)
- Copy of valid Driving License (D.L)
- Copy of the first two pages of the policy document
- FIR for accidental damage.
- Original repair bill, cash receipt, and proof of release.
How to Claim Insurance If the Vehicle Is Stolen?
To make a claim for stolen vehicles. The vehicle needs to be covered under the comprehensive insurance policy. You can always claim the full IDV amount in case your bike is stolen. Every insurance company has its own process of settlement. But some basic steps for claim process if your vehicle is stolen:
- FIR
- Claim form
- Documents
- Approval, settlement
- Reimbursement
What All Documents You Need for Buying New Bike Insurance?
Getting a new insurance policy for you. Things you need are:
- Registration certificate (RC)
- Email address
- Mobile number
- Nominee details
- Pollution certificate (Non-Mandatory)
What Documents Do You Need to Renew the Bike Insurance?
For renewal of bike insurance, you need the following documents:
- Previous insurance copy
- Registration certificate
- Email address
- Mobile number
- Nominee details
- Pollution certificate (Non-Mandatory)
What If the Two Wheeler Insurance Policy Expires?
If your two insurance policy has expired, you can renew the policy by making payment online or by two wheeler insurance agent within 90 days. If not done within 90 days, you lose on your No Claim Bonus, for claim free year. Your bike will go through a new insurance policy, which may include an inspection.
Is Third-Party Insurance Mandatory?
Yes, as per Indian rules, under the provisions of the motor vehicles act, 1988, it is third-party insurance is mandatory. Every vehicle should have third-party valid insurance to drive on the road. You are legally and financially responsible for the third party in case there is an accident with your insured vehicle. This insurance policy does not provide any benefit to the insured bike.
What is IDV?
IDV is insured declared value. It is the value declared by the policy holder while buying or renewing the insurance policy. Basically, IDV is the current market value of the vehicle. Based on the rules, the IDV is decreased by 10% every year. Different companies provide different IDV based on your vehicle make & model.
What Is No Claim Bonus in Two Wheeler Insurance Policy?
In motor insurance, No Claim Bonus (NCB) is a bonus given under comprehensive policy on OD (on damage) premium. This discount is given if your last policy is not expired and you have not taken any claim under the last policy. The range of no claim bonus can go up to 60%. No Claim Bonus (NCB) makes the policyholder avail the discount on his two wheeler insurance policy’s premium if no claim is filed in the previous policy year.
Can Bike Insurance Be Cancelled?
Yes, you can cancel your bike insurance policy depending on the case. You can cancel it if you buy 2 polices by mistake. You are having a commercial vehicle & by mistake you bought Pvt. Insurance. In such a case you can get a refund based on the term & condition of the company. Also, there is a time frame of 1 month (may vary depending upon the company) to process for cancellation.
What Is the Network of Garages in Two Wheeler Insurance Policy?
Under the network garage, you will get cashless repairing services means you don’t have to pay any amount on your repairs. Basically, network garage in two wheeler insurance policy allows the insured to access garages where they do not have to pay for the damages all expenses are covered by the insurance company as per your IDV.