A bike can give you the feeling of freedom, speed and convenience, but it also comes with a high risk of theft. Bike theft is a common issue in many cities, and in the worst-case scenario, knowing how to claim insurance can save you a significant amount of stress and money.
We are here to guide your bike theft insurance claim process, so you can act quickly and correctly in case your bike is stolen.
Step 1- File and FIR
The first step is to file an FIR immediately for a bike stolen insurance claim. This document is very important and must be submitted to your insurer as proof of theft. Do mention the following details, like:
- Bike model and make
- Registration Number
- Place and time of theft
- Any identifying marks on the bike
Ensure that you obtain a copy of the stamped FIR, which must be signed by the police.
Step 2- Inform your Insurer
After filing the FIR, notify your bank and insurance provider immediately; ideally, this should be done within 24 hours of the theft. Most insurers typically have a toll-free number or an app for reporting such cases quickly. You will be assigned a claim reference number and may be assigned a claims manager who will guide you through the process.
Step 3- Submit Required Documents
The insurance provider will ask you to submit certain documents for processing your claim, which usually include:
- Copy of the FIR
- Bike insurance policy paper
- Copy of your driving license
- Bike registration certificate (RC)
- Original Key
- Claim form signed and filled out
Please ensure that all documents are accurate and complete to avoid any delays.
Step 4- Investigation by Insurance Provider
Once all the documents are submitted, the insurance company may conduct an investigation in order to validate your claim. This will involve:
- Verifying details with the police
- Checking security footage
- Talking to witnesses
Some insurers also wait 60-90 days to see if the police can recover the bike before processing the final claim.
Step 5- Non-traceable Certificate from Police
If, by some chance, the police are unable to recover your bike within a few months, they will then issue a ‘Non-traceable Certificate’ confirming that the vehicle cannot be located. This certificate is essential for the insurance company to settle the claim and is often the last step before approval.
Step 6- Claim Settlement
After you receive the non-traceable certificate and complete their verification, the insurer will settle the claim according to the insured's declared value (IDV), as mentioned in the policy. Finally, the claim amount will be transferred to your bank account.
Conclusion
Having proper insurance and understanding the bike theft insurance claim process can make recovery easier. Ensure you read your policy terms, keep the required documents handy, and report thefts promptly. By following the above steps, you can ensure a smoother and faster two-wheeler vehicle insurance.
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