A two-wheeler-like bike offers unmatched convenience, but with the number of road accidents increasing, it is becoming increasingly important to have a bike insurance policy that will offer you protection from financial loss due to accidents. All bike owners must have third-party insurance under the Motor Vehicles Act 1988. However, many buyers of bike insurance frequently must check whether or not they can submit multiple claims in a calendar year. This blog post will address this frequently asked question. Read further to learn how to file a twice-yearly bike insurance claim.

How To Submit A Bike Insurance Claim Twice A Year

Can I Make Two Claims On My Bike Insurance Per Year?

Right now, there are no limitations on the number of bike insurance claims you can submit annually. Therefore, twice-a-year bike insurance claims are indeed possible. However, making allegations more than once a year can have several negative consequences, including the following: 

• Premium will rise: Remember that the premium amount may be impacted if you file bike insurance claims more than once per year. The premium amount in this situation is most likely to increase as the insurer’s financial risks do.
• Loss of No Claim Bonus: The policyholder receives a No Claim Bonus, also known as an NCB, if no claims are filed during the year. The accrued no-claim bonus benefits are forfeited if you file more claims within a calendar year. It is therefore advised to refrain from filing claims for minor damages that can be paid for out of your pocket. *
• Restrictions on Deductibles: Deductibles are costs that the policyholder, not the insurer, is responsible for paying. More deductible restrictions may exist if several claims are filed in a single year. If multiple claims are made, the policyholder will likely be responsible for most of the costs rather than the insurer.

How to Double-Raise a Bike Insurance Claim

Following are the instructions for filing a bike insurance claim twice a year:

• First and foremost, let your insurer know about any damage to your bike or someone else.
• Additionally, you must provide evidence to back up your claim request. The insurance company will dispatch a surveyor to assess the damage.
• Your claim request will start after you submit all the required paperwork. Depending on your preference, you can choose reimbursement claims or cashless claims. The claim processing will begin once the insurer verifies all the documents. 
• You will be informed once the claim has been resolved.

Listed below are some of the documents required to file a bike insurance claim:

• Riding permit, bike insurance documents
• Payment of the motor tax received
• A photocopy of the FIRfor the bike’s registration

Therefore, it will be simpler for you to submit several bike insurance claims in a single year. To protect the benefits of the No Claim Bonus and keep your bike insurance premium from going up, it is always a better idea to refrain from filing multiple claims in a year.

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