Should You Claim Insurance For Bike Scratches?3 min read
Should You File A Bike Insurance Claim?
We all strive to keep our automobiles sparkling clean. Who doesn’t adore a bright automobile or motorbike? But keeping your bike or car in pristine condition for longer is unavoidable. No matter how careful you are, your new car or bike will acquire minor scratches or dents over time. You cannot control the conditions but purchase auto or bike insurance. Insurance can help you recoup the cost of damages to your motorbike or automobile. Yet, the question that arises is whether or not bike scuffs are covered by insurance. Is it worth filing an insurance claim for minor bike scratches?
Let’s discover the answers to these questions!
Can I file a claim for bike scratches?
Since it is your bike insurance, you can use it for whatever you like. But the point that requires your attention is whether filing an insurance claim for minor scratches is worthwhile. This is dependent on the level of damage that was done to your bike. Also, it depends on the sort of coverage you possess.
For example, if you have a comprehensive policy for your motorbike, you can file a claim if the expenses exceed the claim amount. Nevertheless, if you have third-party bike insurance, you cannot claim it because it will not help you renew your bike.
The essential thing is that you must evaluate the price of restoring your bike. If the damage is minor and within budget, fix the bike without touching your bike insurance and keep it for more significant incidents. However, if you have damaged it beyond repair, filing an insurance claim is your best option.
What are the benefits of not filing an insurance claim for minor bike scratches?
You will come out ahead in the long run if you choose not to report the small damage to your bike to your insurance company. You wonder why? Here are some of its hidden advantages:
- If you’re familiar with NCB in motorbike insurance, you receive a concession for not filing a claim in the previous year when you renew your policy. And the amount of this bonus increases with each year without a claim:*
Amount of Claim-Free Years vs Concession on NCB
- 1 year 20%
- 2 consecutive claim-free years, 25%
- 3 consecutive years without a claim 35%
- 4 consecutive claim-free years account for 45% of the total coverage.
- 5 consecutive years without a claim of 50%
- So, it will be advantageous to refrain from filing insurance claims whenever possible (but not for significant damage). Each time you file an insurance claim, the NCB is reset to zero.*
- You should also be familiar with the concept of bike insurance premiums. The advantage of not filing an insurance claim for minor bike damage is a reduced rate. The premium increases significantly when you file a claim for damages to your motorbike. This will, in turn, hurt your finances. * ##
Is there a minimum amount for which I must file an insurance claim?
So you ask how to claim insurance for a bike. While no one initially knows how much the damage would cost, you must perform the numbers before filing a bike insurance claim. If two vehicle panels need to be repaired or the total value of damage exceeds 6,000 INR, it is advisable to purchase auto insurance. You must evaluate these costs before making a decision. These charges will vary according to the type of car for which you are claiming insurance. Thus, be cautious when calculating!
And that’s all you need to know about claiming insurance for minor bike scratches.
*Standard T&C Apply
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply
‘Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.‘