In India, anybody who owns a vehicle will invariably have an insurance policy as the Government of India has made it mandatory. In fact, you can read more about the reasons whyTwo Wheeler Insuranceis mandatory here.
It is in the interest of the vehicle owner as it provides financial aid for repair work of the bike, in unforeseen situations like accidents, floods, cyclone etc. In such events, one would definitely want the policy to cover the loss incurred.
Here is the detailed procedure to be followed in case of an accident:
- If your bike has met with an accident and needs repair work, you have to contact your insurance company.
- An authorised representative will be sent to evaluate the amount of damage caused to the bike. He will later have your insurance claim registered. You will then be given a claim registration number. You can use this number for reference while the settlement procedure is underway.
- Take the bike to the nearest garage for repair work and get the work started. Make sure to collect and keep all the bills of repair work done. You can then claim reimbursem*nt, or you can get the repair work done at a garage where a cashless facility is available.
- In case of theft of vehicle or if an accident has occurred with injury to a third party or if the vehicle of the third party has suffered damages, then under these circ*mstances, one has to lodge a FIR at the police station nearest to the accident spot.
Following documents are required to claimBike Insurance:
- Insurance claim form.
- RC copy of the bike.
- Tax payment receipt copy of the bike.
- Driving license
- Insurance policy documents.
- FIR copy in case of third-party bike damage, injury to third party or death.
- Repair bills and receipts.
Here is the detailed procedure to be followed in the event of the bike being stolen:
- Go to the nearest police station and lodge a FIR.
- You are required to give the keys of the stolen vehicle at the police station.
- Inform your insurance company.
- Inform the RTO. They will prepare an RTO transfer paper and give it to you along with Form 28, 29,30 and 35.
- Procure the No Trace report or the Untraced vehicle report from the police saying that the vehicle was not found. Usually, it takes a month to generate this report.
- Submit the following documents to the insurance company:
- FIR copy.
- Insurance claim form
- RC copy of the bike
- Driving license.
- RTO transfer papers along with Form 28,29,30 and 35. Once the insurance company has received all the relevant documents, their investigators will start searching for the stolen vehicle.
- No trace report submitted by the police.
After procuring all these documents, the insurance company will generate an Insured Declared Value IDV of the stolen vehicle if it is not found past 90 days from the date of theft.
Patience is key here as the procedure usually takes 3 to 4 months. However, don’t lose heart, at least this will ensure you get another bike without the financial burden.
Looking to apply for aTwo Wheeler Insurancethrough HDFC Bank? Click here to get started!
* The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circ*mstances.
