The best ways to increase your chances of getting a successful two-wheeler insurance claim settlement
The best ways to increase your chances of getting a successful two-wheeler insurance claim settlement 25th January 2023
Recent studies indicate that over 50% of vehicles on Indian roads are uninsured, of which two-wheelers make the majority. This is alarming considering the lack of safety features in two-wheelers and poorly maintained Indian roads, which lead to the ever-increasing number of road fatalities.
Despite making two wheeler insurance India mandatory, a vast majority continue to undermine its importance. This may be attributed to the financial product's complexity and uncertainties concerning the claim settlement process. While two wheeler insurance India protects against financial losses and damages from riding accidents, it is contingent on the claim's approval. Insurance providers have recognised the fear of potential policy buyers and have further simplified the process of raising a claim to increase penetration rates in the country.
Follow these tips to ensure the successful two wheeler insurance claim settlement.
How to raise successful claims?
This may come as no surprise, but the best way to raise a successful claim is to follow the insurance company's claim settlement process correctly. It is ideal for complying with the settlement procedure stated on the insurer's website to ensure favourable results. Most insurers have similar processes, which are reasonably straightforward to follow.
However, here are some tips to make sure that your claims are viewed favourably and settled at the earliest.
1. Early reporting:
Inform your insurer immediately after the accident. If you delay the process, you may forget the essential details required to validate your claim. Visit the insurer's website or call their toll-free number to raise a claim. If not possible, initiate the process within a week of the accident.
2. Proper surveying:
It is understood that an accident is a traumatic event to witness or be a victim of, irrespective of its scale. However, to successfully receive a complete settlement, you need valid and comprehensive proof to support your account. While details like the number plate of the other vehicle, pictures showing the damage, etc., are essential, any minute details can help solidify your stance.
3. Maintain precise post-accident records:
The most commonly accepted record by insurance companies is an FIR filed at the nearest police station to the accident site. Any medical expenses or bike servicing costs should also be recorded and submitted to the insurer for compensation.
4. Gather proof of following standard driving protocol:
An accident is an unfortunate event that cannot be entirely blamed on either party. While insurance companies look at the overall picture before passing a judgement on the case, you must ensure that you followed appropriate driving guidelines at the time of the accident. Here are a few reasons that can get your claim rejected:
● Riding without a valid driver's licence
● Riding with a lapsed two-wheeler insurance policy
● Riding under the influence of substances
● Reckless riding
● Use of two-wheeler for commercial or unauthorised use
5. Check your policy's inclusions:
Raising a claim requires knowing your policy's coverage to avoid rejection. You must know essential details like the authorised geographical region, active policy period, etc. Before raising the claim, ensure that you do not fall under any exclusions. Do not make false claims that you cannot support with evidence, as it automatically leads to rejection.
6. Provide all the requisite documents:
In case of incomplete submission of documents, you will have to duplicate efforts and submit the records until you satisfy the insurer's requirement. Usually, the list includes
● Copy of valid two wheeler insurance India
● Contact details of the policyholder
● Copy of FIR filed with the nearest police station
● Claim settlement form
● Copy of driver's licence and registration documents
● Original bills as proof of medical expenses and repairs
Two wheeler insurance India is a prudent mechanism to ensure protection against financial losses and damages to third parties due to your two-wheeler. Despite the general notion of the tedious nature of the claim settlement process, you can raise claims successfully by following above tips and simply complying with the insurer's requirements!
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Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.