Step-by-Step Guide to Claiming Own Damage Bike Insurance

If you recently purchased a bike and already have two wheeler third party insurance, you can opt for own damage bike insurance. You can also purchase an Own Damage insurance policy separately to protect your bike from damages and losses.

Key features of own damage bike insurance

1. Own damage bike insurance provides coverage for both the insured vehicle and third-party liabilities.

2. It is known for its comprehensive coverage and offers add-on riders to enhance the basic policy's coverage.

3. The premium for own damage insurance is typically higher than that of third-party liability insurance.

4. The policy covers man-made disasters, third-party liabilities, and natural calamities.

Coverage under own damage bike insurance

• Own damage bike insurance compensates for damages to your bike in the event of an accident.
• It provides complete compensation if your bike is stolen.
• Expenses incurred due to fire are covered.
• Damage to your bike caused by natural disasters is covered.
• Exclusions from own damage bike insurance
• Third-party damage expenses are not covered. The coverage is limited to damages to your own bike.
• Claims will not be accepted if the accident occurred while riding under the influence of alcohol, as it is against the law.
• If you haven't purchased a specific add-on, you won't receive its benefits.
• Damages to your bike that occur after the accident and are not directly related will not be reimbursed.
• If you engaged in a completely contradictory activity leading to bike damages, they will not be compensated.
• Expenditures will not be covered if you did not have a valid driver's license at the time of the accident.

How to file a claim for own damage bike insurance

Notify shriram general insurance company promptly about the incident leading to the claim if you have there’s. Contact their toll-free number or send an email to register your claim. Request a claim form or download one from the insurer's official website.

Provide as much evidence of the accident as possible. Taking photos of the vehicle's damages is recommended. Fill out the claim form and attach all supporting documents.

Take the damaged bike to a garage for repairs. If you choose a network garage, you can apply for a cashless claim, and the insurer will cover the costs. If you use a non-network garage, you will need to pay for the services initially and then file a claim for reimbursement.

Two wheeler insurance company surveyor will inspect the bike and assess the damages. An estimate will be prepared and sent to the insurance company. After receiving the claim form and surveyor's report, the insurance company will reimburse the owed amount. In the case of a cashless claim, the payment will be directly settled or returned to the registered bank account.