Can I Claim Bike Insurance Twice A Year?

Currently, there are no limits on how many bike insurance claims you can submit per year. If you file claims multiple times a year, you may experience several adverse effects, such as follows,

Premium will increase – If you have had to make a claim on your bike insurance policy, then it is likely that the premium will increase as a result. This is because the financial risks involved in such an event are taken into account when setting premiums. 

In most cases, the premium amount will go up by around 20%. However, this may vary depending on the individual insurer’s policies and procedures. 

So, if you have to file a claim on your bike insurance policy, then be sure to speak to an agent about how much your premium might increase.

Loss of No Claim Bonus – It is advisable not to claim bike insurance benefits more than once a year. If you do, the accumulated no-claim bonus benefits will get lost and you’ll have to start from scratch. Thus, it’s important to avoid making any small claims that can easily be settled out of pocket. 

However, if something really big happens (like your bike getting stolen), then filing a claim may be the best option for you. But make sure you read the policy thoroughly first so that you know what rights and obligations you have as an insured party!

Restrictions on Deductibles – It’s always a good idea to consult your policy in order to make sure you’re getting the most out of it. 

Policies often have restrictions on deductibles, which means that the cost of a claim will be borne by the policyholder rather than the insurer. 

This could result in serious financial implications if multiple claims are raised in a year. So, it is important to understand your policy and know what limitations may exist.

Steps To Claim Bike Insurance Twice A Year

If you have been in a car accident, it is important to take action right away. By informing your insurance company and preparing the necessary documentation, you can speed up the process and avoid any delays. 

Below are Steps to claim bike insurance twice a year that will help make the claim process as smooth as possible: 

• First, inform your insurer of the details of the accident – what happened, who was involved, etc. 
• Make sure you have all of the relevant documents – police report(s), photos or videos from the scene of the accident, and pictures or videos of damage to your vehicle or third-party property. 
• Submit copies of all documents to your insurer for verification. This will help ensure accuracy and eliminate any confusion during claims processing. 
• Once everything has been verified by your provider, initiate a claim request online or over the phone depending on which option is more convenient for you. 
• After submitting all required information, claimants typically receive updates regarding the status of their claim within 24 hours.

Essential Documents Essential For Raising A Bike Insurance Claim Twice A Year

• Driving license
• Bike insurance papers
• Receipt of motor tax payment
• A copy of FIR
• Bike registration certificate

Read More – How Does No Claim Bonus Impact Your Car Insurance Premium?

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The type of insurance cover is many, but making sure that we are looking for the right one holds great importance. Policyplayer offers up with major help that not just brings on the latest policy and scheme, but helps you choose the most appropriate according to your choice. We know what is best for you and that is why our support is always with you no matter what. All the experts will make sure to give you the required guidance so that the best help in all the ways can be added. 

1. Life insurance
2. Motor insurance
3. Health insurance
4. Travel insurance
5. Property insurance and much more.

How helpful are these insurances?

It will be quite wise if we say that insurance works in a way that we can bring on with the shield on us. Today, as we move ahead with time and support understanding how we can minimize our expenses, is a must. For people, today looking for ways to add safety and cover comes up as an obligation. It is because any of the expenses in any way will be a disadvantage for us.

Some of the details regarding different insurances are:

1. Health & life insurance: health comes up to us as a major priority that binds up with all how we can lead a better life. As now the time is just taking up the big change, it has become important for us to look at some of the suitable ways in which we can just suitably cover our health and life. Life and health insurance are subsidized in different directions like the term plan, money back, and even the retirement plan. This is why one of the major important reasons to look up such insurance is that it will help in planning retirement accurately. We know that now the skip of time is moving ahead and that is why these insurances are a must for all. Policyplayer comes out to be your ideal stop for getting health & life insurance and that too at a discounted rate. 
2. Motor Insurance: It is quite wise to know that not just health, but looking after our most expensive investment in assets is even more important. This is why people are just suggested to get motor insurance. Such insurance just deals with all the vehicles, four-wheeler or two-wheeler. It is important to keep in mind that maintaining any of the vehicles is much more expensive than buying them. It is because, in case of any mishap, the vehicle would cost much to our pocket. This is why Policyplayer refers up the most suitable plans that can help you in keeping your surroundings as well as pocket safety from any issue.
3. General insurance: It comes out to be the best insurance plan that includes automobiles, policies related to homeowners, and much more. On another side, we can say that it helps in covering all the covers right in one place.  Policyplayer offers you a wide and wise insurance plan that can be best for all times. But all you need to do is look for the ideal plan that can suit your budget in the right way. General insurance features help in adding safeguard to all situations in the right way.

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Renewing Motor Insurance Online

With digitization, it has become easier than ever to invest in a policy and renew it. If your motor insurance is about to expire, then the first thing that you need to do is to carry out a research for the best possible insurance policy available and renew the policy. You can do the policy renewal online with ease. 

Steps for Motor Insurance Renewal Online

With the online insurance renewal, you don’t have to visit the insurance company; just compare the policies, verify the details, and make the right call. Now comes the point when you have to renew the policy online; here are the simple steps: 

You must keep track of the vehicle insurance policy to check if it is approaching the expiry date. If yes, then you must go ahead with policy renewal.

You must visit the website of the insurance policy provider and click on the policy renewal link. You can also apply from an insurance aggregator, such as Policy Player.

Fill in the details (if required) or else make the payment online and check the acknowledgment.

Once you have made the payment, the process of policy renewal will be complete. You will receive the notification regarding the policy renewal on your registered email ID and mobile number. 

Elaborating the Steps of Motor Insurance Policy Renewal

Keep Track of The Policy Renewal Date

You must always renew the policy before the due date, and hence, you must keep track of the date of expiry of the policy. Make sure that you set a reminder for this to keep track of the due date. You would not want to get in the hassle of policy renewal after expiry, so make sure that you keep track of the due date of the policy. 

Well, nowadays, you don’t have to think about all this because the insurance companies send automated messages and email reminders about the due dates.

Visit Policy Player or the Website of the Insurance Provider

The process of policy renewal has become fairly simple with Policy Player. All you need to do is to visit the website and compare various plans available for your vehicle, you can select the best option from the comforts of your home. In case you wish to renew your existing provider’s insurance plan, you can also visit its website and click on the policy renewal link. After clicking on this link, you will get the renewal details displayed on the screen. 

There is a provision for both the existing customers and new customers. The policyholder needs to choose the right option. Follow the instructions as mentioned on the website and continue with the renewal process. 

Proceed with the Online Payment

Once you have checked all the policy renewal details, you can proceed with the online payment option. You can make the payment via debit card, credit card, or online payment. 

Get the Acknowledgment

After you have made the payment online, you must wait for the acknowledgement. It will be displayed on the screen, and you will also get the confirmation on your registered email ID. 

Now the insurance renewal procedure is complete. You will get the receipt for the motor insurance renewal.

The online process is fairly simple, and with timely motor insurance policy renewal, it will give you peace of mind and will also keep your vehicle protected.

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Third-party Insurance- As per the Indian Motor Vehicle Act, third-party insurance is mandatory. In case your vehicle meets an accident and there is damage, then this policy provides complete coverage to the damage caused by the insured vehicle to the third-party. But for this, you need to make a claim at the right time, follow the right protocol. To choose the best third-party insurance, it is important to know about the types of car insurance offered by the different insurers and financial institutions. The best part is that many banks and non-banking financial institutions are offering third-party car insurance. You can pen down the popular options and choose the best one based on your requirement. 

Comprehensive Car Insurance- As evident from the name, this insurance policy provides holistic coverage of insurance to both parties, i.e. the insured and the third party. This policy gives more extensive and wider coverage, and hence, you must go for it. In case of an accident or mishap, comprehensive car insurance saves you from financial catastrophe. 

Coverage under Comprehensive Insurance

If you opt for a comprehensive car insurance policy, then it will provide coverage to the damage caused by: 

• Vandalism
• Theft
• Burglary
• Damage to third-party
• Damage caused by natural disaster or severe weather conditions
• Damage or destruction of the vehicle in riots or civil disturbances
• Damage to the vehicle caused by a fallen tree

Things that are not a part of Comprehensive Car Insurance Coverage 

There are certain things that are not covered under this policy, and if you are planning to invest in comprehensive car insurance, then you check for the following:

• Wear and tear of vehicle is not a part of it
• Damage caused due to drunk driving
• Damage caused when a non-licensed person is driving the car
• Electrical or mechanical breakdown
• loss or damage caused by war, or mutiny
• Depreciation
• Damage to the tyres and tubes, but if the vehicle is damaged at this time, then the company will be liable to pay a replacement  cost of up to 50%

Points to consider before Buying Car Insurance

This was the key information about the car insurance policy. If you are planning to buy one, then you must keep the following points on your radar:

•  Do thorough research about the various car insurance provider
• Get a complete understanding the car insurance policy
• Check the premium and the coverage before investing in the policy
• While choosing the car insurance service provider, you must also check the claim settlement ratio. If the company has a good track record of settling the claim, you can go ahead with it. 

Nowadays, it has become easier to apply for a car insurance policy. Most of the banks and insurance providers now offer an online process of insurance completion, so you can complete the process digitally. 

Car Insurance Claim Settlement

In case there is need for claiming the insurance, then you have to submit the following document to complete the claim process:

1. A copy of the insurance policy
2. FIR report filed at the police station
3. Registration certificate of the car
4. Additional documents in case you need additional reimbursement
5. Medical report in case physical injuries are incurred
6. Original record or other expenses
7. The images of the damage of the car

Note: Remember to claim for the insurance within 24 hours of damage to the car; delaying the same can impact the seamless processing of your insurance claim.

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1. Previous Insurance Coverage

If you are applying for car insurance under the new insurer, your forthcoming agent will almost surely look into your preceding insurance coverage. The applicant will want to know if you paid your premiums on time, how many insurance claims you filed with the old insurer, and any other problematic behavior which would enhance your risk to insure. Any red flags in the previous insurance coverage will likely result in an increased insurance rate. And inappropriately, if you have not been previously insured, you might pay more car insurance until you found the insurance history.

2. Your Driving Record

It is perhaps no wonder to you those insurers to look at the driving record. But what exactly are they looking for? Insurers will scan the driving record for the at-fault accidents, traffic violations & claims made, typically within the last 3-5 years. If you have received the marks against the driving record, you can bet you will be paying more for auto insurance.

3. Your Credit History

According to the recent study by the insurance research firm Conning & Company, 92% of the nation’s 100 top insurers are factoring credit history to auto insurance premiums. And, while insurers are exploring the credit scores directly, they are more interested in how you have used your credit in the past. Insurers have to look at the length of the credit history, amount of turning debt you have & any collections and late payments to form the insurance score.

And, while critics & consumers alike blame insurers for using credit-based scoring as the excuse to inflate the auto rates, there is a surprising amount of statistics to back the use of insurance scoring. The studies have found the customers at the bottom of the credit pool file 40% more claims than the customers with excellent credit. Insurers also use their credit history to judge the likelihood of paying the premiums on time. It is for these & other reasons that insurance scoring is the most likely place to stay.

4. Age & gender are very vital

These factors also govern how prone your vehicle is to accidents. Individuals between the ages of 18-25 years & men, in general, are found to be ones who are disposed to rash & negligent driving. Thus, they attract higher premiums in turn.

5. If you drive in rural areas, then the car insurance price might be less, as the probability of accidents in rural areas is lesser than that in urban areas. Vehicle insurance agencies may look keenly to your credit history & the neat record would guarantee low insurance prices, helping you to attract good discounts from them.

6. The kind of job which you do also determines policy rates. The low car insurance price can be expected by the person who does desk job for more time than the marketing guy who has to travel.

7. SUVs pose more risk than regular cars because SUVs being larger vehicles, can be driven more rashly, making them more susceptible to accidents.

8. The place where you park your car is also another factor because if it is a safer place, the car insurance rates can be expected to be lower, and vice-versa.

Several other factors need to be worked out before you decide upon the right insurance policy because a good blend of practical aspects will determine the best car insurance prices.

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If you are a vehicle owner and have vehicle insurance, then in case of an accident or damage to the car or its components, you can file the insurance claim with your car insurance company. The insurer pays for the repair cost. This compensation is as per the policy availed by the policyholder.

It is important to make a claim within two days of the accident. In the case of a cashless claim, the policyholder doesn’t have to pay anything, whereas in the case of reimbursement, the policyholder will have to bear the repair cost initially, and later, it is reimbursed by the insurance company. 

Documents to Submit for the Claim of Car Insurance

To make a claim for car insurance, the policyholder must provide certain documents. Make sure that you submit all the documents to avoid hassles during the insurance claim process. You will be required to have the following documents:

1. A copy of the car insurance policy
2. FIR report that has been filed for the car damage
3. Registration certificate of the car

Additionally, you will be required to submit:

1. An estimate of the repairs
2. Medical report in case there has been any physical injury
3. Original record of any other expenses borne by the policyholder

How to claim the car insurance?

The claim process can sometimes become overwhelming for the car owners, and hence, it is important that you must know about the right steps of the insurance claim process beforehand. The following section highlights the detailed steps of an insurance claim:

Step 1: Contact the insurance company

One of the first things that you must do in case of any damage to your car is to inform about the car damage to your insurance company. There is a timeline, and you must inform the car insurance company about the same. This timeline may vary from one insurance company to another, so make sure that you follow the instructions as mentioned by your insurance provider. 

Step 2: Lodge An FIR 

Simultaneously, you must also file the FIR in the nearest police station. FIR is mandatory for the claim settlement, and you will be required to submit the FIR to the insurance company along with the other documents. The police will visit the spot to check the damage and will identify whether it was an accident or mechanical failure. The insurance company will also need the surveyor to check the vehicle. An important point to note here is that you must not move the vehicle without the permission of the police and insurance company. 

Step 3: Take Photographs 

To support your claim process, you must also click the photograph of the scene of the event. This will help you in the claim process.  

Step 4: Submit All the Documents 

After the FIR, your next move should be to submit the claim required with your car insurance company. The company will start processing your request only when you submit all the documents such as the FIR, car registration, DL, and other documents that your insurance company may ask for. 

After the visit of the surveyor and the submission of the documents with the company, the company will assess whether or not the claim process is genuine.

An important point to note here is that the amount of insurance claim depends on the type of insurance policy you hold. For example, if you have third-party insurance, then the cost of damage to a third-party vehicle is covered, and in the case of a comprehensive insurance policy, the repair cost of the policyholder vehicle is also covered.

To save yourself from the hassles of the claim process, it is important that you must follow the steps of the insurance claim properly. In case your claim is rejected, you can raise a dispute with the grievance redressal officer as well.

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Compared to the old days now, industry works flawlessly when we have amazing modes of transport. You would certainly not want anything to happen because it gives you a living income. As any damage involves hampering the activity and travel of your company. Buying commercial vehicle insurance is the answer to protect the vehicles and take care of the costs. It has coverage for any harm done to the vehicle in the event of an accident.

Benefits of buying Commercial Vehicle Insurance Online

We have plenty of options in the market when it comes to buying the best commercial vehicle insurance. They offer commercial vehicle insurance according to your needs and requirements.

Below are the amazing benefits of buying commercial vehicle insurance.

• It can save you from heavy fines imposed by the police. In the absence of an insurance policy, traffic police can pull your car and capture it. The third-party responsibility policy is enforceable by law.

• If you run a business that always includes a variety of commercial vehicles, you do not need to manage a separate insurance policy. Besides, commercial vehicle insurance covers bulk damage.  So, consider investing in the best commercial vehicle insurance.

• You can easily have it repaired by finishing the formalities in case of any damage. It will save time and prevent you from having a long-term effect on your business.

• A commercial vehicle insurance plan would cover the cost of the vehicle if stolen. Like in a circumstance where your car gets stolen and that the vehicle was purchased on loan. You can have peace of mind with the policy.

How to claim Third-Party Bike Insurance easily

3rd party car insurance online – Shield yourself against any losses with sheer ease

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