Ensuring a motor vehicle in India is mandatory by law. The Motor Vehicles Act in enacted in various states and union territories, dictates further rules in this regard. The statutory obligation of having active insurance as long as the vehicle is operating on the roads is valid across the country. The costs incurred for obtaining/renewing Insurance for bikes and scooters are based on the IDV (Insured Declared Value) of the vehicle.
The insurance cover offers to shield the owner and insured vehicle against liabilities arising out of an accident and provides compensation to cover various costs arising out of damage done to third party person/property. Depending on the cover opted for, the insured member can also look forward to claiming compensation for damage done to or the occupants after a mishap. As a well-educated owner, it's paramount to understand the claims process so that no time is wasted in case of an unfortunate event.
The sections below will take you through the nitty gritties of the claims process in general and the documents involved to help you successfully sail through during the process.
The process is more or less similar to that of Auto Insurance in general. The points below will take you through the claims process.
A surveyor will get in touch with you within the stipulated time to inspect the damages done to the vehicle and to provide further instructions to the garage on the repair front. After completion of the paperwork, the bill can either be settled directly with garage or made cashless depending on the availability.
In case of vehicle theft, papers from the local RTO along with an NOC from the bank (if hypothecated) should be produced. Other documents depending on case to case basis should also be made available upon request.
Tip: Details of the actual claims process will be provided on the insurer's website and the same will be available at designated offices. The process may slightly vary, depending on the standard operating procedure of the company. Make sure to revisit policy paperwork at least once in a year to keep a track and stay up to date.
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2025 BankBazaar.com.