Whether it is city travel or an adventure road trip, bikersalways havethe advantage of having a vehicle that is easy to manoeuvre, affordable and is easy to maintain. However, two-wheelers also make you more vulnerable to accidents given the traffic and road conditions that prevail. Hence it is important to have your bike insured andhave it covered against accidental damages and losses. Also you must make sure that the insurance is renewed on time to maintain your cover without any lapses.
When is bike inspection necessary by insurers
- The Insurance Regulatory and Development Authority of India (IRDAI) authorises insurers to undertake bike inspection during two specific situations–
- During a claim
When you raise a claim for any damages or loss to your bike, the insurer inspects the bike to understand the extent of damages caused to the bike and verifies the valid documents. This process helps in validating the claim amount that is to be paid to you. Post-inspection,the insurance company processes the payment of the repair bill to compensate the damage.
- If you renew the policy after the grace period
If you have missed to renew your policy in time, the insurer will inspect the bike when you try to renew your lapsed policy. This means, if you decide to buy bike insurance post 30 days of expiry of your previous policy, your insurer may need to carry out a bike inspection.
How is bike inspection carried out during a claim
Bike inspection is a process where the insurance company inspects your two-wheeler to verify its physical existence and valid documents. Along with this, the insurer checks your bike’s condition and accessories during the evaluation process. It also checks whether the bike complies with the government’s vehicle rules and damages, if any.With respect to claims, bike inspection is usually carried out in case of major damagesto estimate the extent of the damage.
- The Process of Bike Inspection
There maybe a few differences in the inspection process that different insurers may follow but the aim being the same, a few basic steps are always followed:
- Step 1:A policyholder faces damage or loss and raises a claim for the same basis the policy that they have.
- Step 2: The insurer appoints a surveyor to inspect the bike and evaluate the damage.
- Step 3: The surveyor inspects the bike and creates an inspection report detailing out the damages, bike details and document availability. A bike inspection will usually cover the following points:
Bike’s Registration Number
Clear photographs of the bike
Bike’s chassis number
Accessories
Damages or dents, if any - Step 4: The insurance company studies the report submitted and communicates with the policy holder about claim approval or rejection based on the bike inspection report.
If the claim is approved, the settlement does not take very long and the claim is closed in no time.
We are sure this information will be helpful to you if you do need to raise a claim. Also since the process requires your insurer to have a strong process in place, it is essential that you choose a plan from a partner with credibility. When you buy your bike insurance plan on the Bajaj Finserv App, you can be sure that you are buying a plan only from some of the leading insurers in the country. We choose our partners carefully and make sure that our customers have access to some really credible names in the industry. So if you are looking to buy a bike insurance plan, make sure to download and login to the Bajaj Finserv App before you make a choice.
Anywhere, Anytime insurance with the Bajaj Finserv App
The Bajaj Finserv App is a high utility App that takes care of all your financial needs including insurance. On the app, you can explore bike insurance plans from our trusted partners. Here you can view product features, compare prices and purchase a plan that is best suited to your needs. All this in a matter of minutes and from the comfort of your home. It truly is becoming the new way to buy insurance.
