Why do I need to insure my two wheeler?
Not only has the government made it mandatory to get insurance for every two wheeler running on the road. The insurance also provides the following benefits;
- Covers medical cost incurred during an accident.
- It also covers the cost and repairs of vehicle parts.
- Provides financial protection against theft, fire accidents and natural calamities.
Is two wheeler insurance mandatory for 5 years?
Two wheeler insurance is made compulsory by the government because it protects the victim from potential losses caused due to accidents. The vehicle is also protected against any damage caused by theft, fire, accidents, riot, explosions, and damage caused due to natural disasters such as landslides, floods, earthquakes, storms, etc.
What are the types of two wheeler insurance in India?
There are two types of two wheeler insurance plans offered by insurance companies.
- Third party insurance: This insures you from all the financial losses you cause to a third-party and their vehicle. This has been made mandatory by the government to take this bike insurance without exception.
- Comprehensive insurance: This includes third party insurance, covers two wheelers from accidents, fire, theft, natural calamities and also covers the medical expenses of the person. The comprehensive bike insurance cover doesn’t shield your bike against depreciation (wear and tear with time). You can save the depreciation by choosing a Zero-Depreciation add on.
What risks are covered under a Bike Insurance policy?
Depending on the type of policy chosen by the insured person, coverage can vary.
Third-party insurance:
- Third-party liability
- Third-party property damage
- Personal accident cover
Comprehensive insurance: in addition to the above following are also covered.
- Own damage
- Vehicle theft
- Natural/ Man-made calamities
One can include several add-on riders to these policies in order to enhance the risk cover.
Why should I buy comprehensive bike insurance policy when law mandates only third party, injury, and death or property loss?
As compared to third-party bike insurance, the comprehensive insurance policy for bikes provides extensive coverage to the insurer, often the following are covered under comprehensive policies.
- Damages to the vehicle due to accident
- Theft, vandalism, natural disasters
- Legal liability to third-party
- Personal accident cover
- Damage to third party etc.
What is the penalty that I may incur if my two wheeler is uninsured?
The penalty of driving without two wheeler insurance is now fixed at INR 2000 and/or imprisonment for up to 3 months. Not only penalty but the Government also provides strict punishment in case of death (5 Lakhs) or grievous injuries (2.5 Lakh); hence it is advisable to at least hold third party insurance to drive legally and avoid the inconvenience of litigation.
What is a cashless and non-cashless/reimbursem*nt claim in two wheeler insurance?
The cashless reimbursem*nt claims mean the insurance company will get your vehicle repaired after the accident itself and won't pay you for the damage. The non-cashless reimbursem*nt claim means the insured will pay first for the entire repair for the vehicle and submit the documents and bills to the insurance company. The company then pays the amount to the insured.
What is a Third-Party Liability Cover? Is it part of my Bike Insurance Policy?
Third-Party Liability Cover, as the name suggests, covers the legal liability one has to pay to the third-party to whom damage is being caused- injury or damage to their property. While opting for 2 wheeler insurance, one has to choose between the comprehensive and third-party policy. Comprehensive policy not only covers the third-party liability but also covers the damage to your vehicle.
What is PA cover in a two wheeler Insurance? Is it Mandatory?
PA cover is a Personal Accident cover. Under the Bike insurance policy, compensation will be paid under the condition of accidents leading to injuries, permanent disability of any body part, or death. Yes, to have a Personal Accident cover by a two wheeler driver and owner is mandatory.
What is a long term two wheeler Insurance and what are its benefits?
In 2019, the Insurance Regulatory and Development Authority of India, also known as IRDA, permitted long-term 2 wheeler insurance policies to have a time window of about three years. There are several benefits, including over 30% discount, no need for annual renewals, no annual checking of the vehicle, and many more.
What are add-on covers in two wheeler insurance?
Add-On cover means the additional coverage one buys to secure against various payments. These add-ons are optional to one's standard policy but are very beneficial and provide extra security. One creates the extended version of the policy; moreover, these can be bought with the policy plans like standalone own-damage bike insurance as well as comprehensive bike insurance.
How do add-on covers impact the premium of my bike insurance policy?
Add-on covers the impact of the premium of your bike insurance policy by giving you the possibility of getting the maximum amount of claim in any situation of the damage. The benefits and the level of security add-on lend to the policyholder negates the amount of extra premium is seen as minimal in comparison.
What is bumper to bumper coverage under two wheeler Insurance?
A bumper to bumper insurance cover is a vital add-on cover for the owner of a two wheeler. It provides the claim of the normal wear and tear of the vehicle, which causes the depreciation in its value. Without this add-on coverage, the claim is not provided to the insured.
Is my bike insurance coverage valid pan India?
While taking the two wheeler policy, one has to specify the region or location where the vehicle will be driven to estimate the premium. But the insurance policy is liable to pay for the claim even if the accident or damage occurs in a different region as the insurance coverage is valid in pan India. One must read this under any policy before taking it.
What is a two wheeler insurance premium?
The two wheeler Insurance Premium is the amount that the insured has to pay to the insurance company for their vehicle to secure them from liability coverage in the future. This amount is calculated on several bases like the model, city one rides it in, add-on covers, electrical/ non-electrical accessories, registration date, etc.
Does the two wheeler model affect the cost of two wheeler insurance?
Yes, the model of the two wheeler will affect the cost of two wheeler insurance. Generally, the premium charged for the basic two wheeler models is lower than the latest models of several status bikes. It is so because the company will pass the claim for the insured two wheeler and not for the repair.
Which factors will affect/reduce bike insurance premium quotes while buying two wheeler insurance online?
While buying two wheeler Insurance Online, the factors that will affect/reduce the bike insurance premium are the mode of payment. Digital payments will reduce premium as a discount, and if the limit of the third party policy is increased, the premium is reduced. Rest are all the basic factors that affect bike insurance in general.
What are the different modes of payment for bike insurance?
There several different types of payment options a customer can opt for purchasing bike insurance. Usually, the insurance company offers both physical and digital payment options. Physical payment modes such as cash, credit card, debit card, and cheque deposits and Digital payment such as Google pay, online credit/debit card transaction, etc.
What are the documents required to buy bike insurance online?
The benefit of purchasing a two wheeler insurance online is that it requires minimum documentation and simple process. The proposer needs to provide basic personal details and details of the two wheeler (engine number, chassis number, registration number, vehicle manufacturing details etc.) that needs to be insured.
How are my accidental hospital expenses covered in two wheeler insurance policies?
Personal hospital expenses can be reimbursed by adding two wheeler insurance cover, namely; Compulsory Personal Accident (CPA) for the owner-driver. The medical expenses can be claimed for anybody's injury, partial disability, permanent total disability, or even death. It is also mandatory under law.
In case the insured suffers injuries as a result of the accident and requires hospitalisation, the insured will be provided with a cash allowance to meet the expenses. The cash allowance can be availed up to 50 days from the date of admission to the hospital.
Which bike insurance policy would be suitable if I have a two wheeler on loan?
A comprehensive two wheeler insurance policy is the most suitable plan riders should purchase as it provides comprehensive protection against damages to your vehicle as well as damages to the vehicle or property of the third party. It also protects the policyholder against the theft, loss of the two wheeler, and cover on your vehicle against several calamities.
What documents should I submit to get concessions on two wheeler insurance on the basis of my age and occupation?
Insurance companies approved by the Insurance Regulatory And Development (IRDA) provide several discounts such as lower premiums for vehicles fitted with approved systems like anti-theft devices, having membership of reputed automotive associations. The documents proving the membership and installing the anti-theft devices in vehicles need to be submitted for availing of the discounts.
Some bike insurance companies also offer concessions on purchasing the policy online using credit cards or certain apps.
Can I transfer my bike insurance policy to the new owner, if I have sold my vehicle? What’s the procedure to do it?
Yes, the insurance policy for the bike can be easily transferred to the new owner. The new owner of the bike should submit an application to the insurance company within 14 days of the registration transfer. The documents required are:
- RC of the bike.
- The original document of the bike.
- Address proof of the new owner.
- Passport size photographs of the new owner.
Once these documents and the transfer charges are submitted, the insurance company will start the transfer process.
Is pillion rider a third party?
A pillion is a person who sits behind you in a two wheeler/bike. The pillion rider is considered a third party and will be covered under the terms and conditions of the insurance policy pertaining to an accident.
What happens to my two wheeler insurance policy in the event of my death?
In the event of the death of the policyholder, the insurance policy is transferred either to the legal heir or to the Nominee of the policyholder.
In case no Nominee is listed in the policy, the policy will be transferred to the legal heir. To do so, the policyholder's family will need to inform the insurance company to take the appropriate action.
What risks are not covered under an insurance policy for bike?
Several risks which are not covered under a two wheeler insurance policy such as damage of the vehicle under an extreme condition like war, damage due to depreciation, normal wear or tear, damage due to driving under the influence of alcohol or substances, damage done by a non-licensed driver, etc.
What are electrical and non-electrical accessories in two wheeler insurance? How do you calculate their value?
Electrical accessories such as fog light, which is not factory fitted, and non-electrical accessories, include a leather seat. The amount for the premium is calculated based on the amount of the accessories and the percentage margin. The insurance company usually sets differently based on the price of these accessories.
How does GST affect two wheeler insurance plans?
After calculating the premium, GST is the tax applied on it @18%, due to which the amount of premium to be paid by the customer increases. After calculating the premium, the GST is applied at the end, including add-ons and all electrical and non-electrical accessories.
Can I pay two wheeler insurance premiums in installments?
No, you cannot pay the two wheeler insurance premiums in installments. The reason behind this is the possibility of claiming in case of any damage while the insured has not paid the full premium amount. In this condition, the insurance company will be liable to pay for the loss of the insured even though he has not paid the full premiums.
How do I register my two wheeler insurance claim?
At first, one has to fill the form either online or get the Claim Intimation form from the insurance company office. Fill in all the columns and details regarding the accident, vehicle number, driver's license, RC copy, copy of Insurance policy, etc. This is the first step to proceed with the insurance claim.
What are the details that need to be kept handy while registering a bike insurance claim?
The details/documents that need to be kept handy while registering the bike insurance claim are a photocopy of RC, photocopy of Insurance policy, affidavit, FIR if any, Driver's license, medical reports, damage vehicle photographs, etc. All these documents are very necessary to proceed with the claim.
What to do if my motorcycle is lost or stolen? Can I get any benefits for my bike insurance policy?
In case of a stolen or lost motorcycle, register an FIR immediately with the nearest police station and then contact the insurer. While seeking a claim, the following documents must be submitted;
- Claim assessment form
- Original FIR copy
- DL, RC, and insurance documents copy
- Transfer papers from the RTO
- Bike keys
Lastly, it is imperative to get a No Trace Certificate, which can be acquired from the police after a month of the theft.
For benefits, only a comprehensive insurance policy can cover the insured against theft.
How much will I get paid for a bike damage claim?
There are several cases of damage claims of the bike. In the case of fixable damage, the company either opts for cashless/non-cashless reimbursem*nt. In both cases, approximately all the damage is covered by the company. In the case of the total loss of the bike, the company pays 60% of the amount, but it is different under different insurance policies.
In case I change my job and location, what happens to my two wheeler insurance policy?
The policy will remain unaffected despite movement. However, address change and contact details would need to be updated, which can be done online or at the nearest branch. Also, the two wheeler insurance premiums can change depending on the registration zone as metropolitans have a higher premium rate than the rest of the country.
Can I take bike insurance policies from 2 different companies for the same vehicle at the same time?
No, a person can have only 1 two wheeler insurance policy for a bike at a time. In case a person has 2 policies, they have to cancel 1 of them from either of the insurance companies.
Can I replace a new vehicle in my current two wheeler insurance policy?
Yes, you can replace a new vehicle in your current two wheeler insurance policy. For this, the policyholder should contact the insurance company coordinators to make significant changes in the current two wheeler insurance policy.
Can I cancel bike insurance during the policy tenure?
Yes, the bike insurance policy can be cancelled during the policy year under the following circ*mstances:
- In the case of ownership transfer, the existing policy can only be cancelled when documentary evidence of an alternative arrangement is made to support the insurance.
- The insured should have made arrangements for coverage, at least third party liability, and should be able to produce documentary evidence.
Can I get NCB on an expired bike insurance policy?
NCB, referred to as No Claim bonus, is received by the insured in case they do not seek a claim during the bike insurance policy period. NCB or No Claim Bonus can be carried forward provided the policy is renewed within 90 days of the expiry date of the previous policy
What happens if my Two Wheeler Insurance expires?
If your two wheeler insurance has expired, you can renew the policy by making payment online, and the policy period will start after 3 days of receiving the payment. The policy will lapse when you do not pay the premium to renew the policy on time. There is a grace period of 90 days to renew the policy. Benefits like No Claim Bonus (NCB) will be lost if the policy has lapsed for more than 90 days.
What is Break in insurance? What should I do in case of Break in insurance?
The time gap between the policy expiration and the renewal of the policy is known as the Break-in period. Your policy will remain inactive during this period, and in case if your vehicle faces any issues, it will not be covered in the policy. No Claim Bonus (NCB) gets fortified, and the insurance company can also increase your premium for the next cycle if the policy is not renewed within the grace period of 90 days.
In the case of a break-in, you can renew your break-in policy easily online, and it gets instantly activated. A soft copy of the policy will be sent to your registered email address, and the policy will be completely active after a few days from the date of payment.
My bike insurance policy has expired. How can I renew it in case of a break-in of my policy?
There are two ways to renew the expired policy in case of a break-in period, i.e., online and offline.
Online mode:
- Log in to the official website of the insurance company.
- Enter the required details like vehicle registration number, policy details, etc.
- Make the payment using the available payment method and complete the transaction.
- Once done, a soft copy of the policy will be sent to your registered email address, and the policy will be completely active after a few days from the date of payment.
Offline mode:
The policy can be renewed by visiting the branch of the insurance company and submitting the required documents. In this case, an inspection of the bike will be done along with the document verifications.
Can I transfer my accumulated NCB from one insurer to another?
The NCB or No Claim Bonus is awarded to the policyholder. It can be transferred from one insurer to another at the same rate that you are entitled to get from the previous insurance company on policy renewal. The NCB can be availed, provided you show evidence that you are entitled to NCB from your previous insurance company.
Can I get my money/unused 2 wheeler insurance premium refunded?
No, there is no such option provided to the customer to get his/her money/unused premium refunded. Although the insured has not made any claim in the policy period, they are awarded the NCB discount in the premiums when renewing the policy.
Why does my bike insurance premium change during renewal?
The bike insurance premium changes during renewals due to several factors like depreciation, add-on covers, the model, the additional accessories, etc. Due to these factors, the premium can increase as well as decrease every year.
How NCB is computed at the time of two wheeler insurance renewal?
The No Claim Bonus is computed at the time of renewal depending upon the consecutive years where the insured has not applied for any claim. The No Claim Bonus discount can reduce the premium to a maximum limit of about 50%. Its discount percentage increases every year.
How do I claim two wheeler insurance for vandalization or damage due to an accident or natural calamity?
The instances of vandalism, damages due to an accident, or natural calamity come under the purview of the own-damage claim. In this case, the insured has to immediately inform the insurance company, and the latter will ask a surveyor to review the situation.
Based on the findings and observations of the surveyor, the claim can be processed. However, in Bajaj Allianz cashless service, the insured can take the bike to the garage and get the repairs done without paying anything. The company will compensate the partner garages for the work done.
How can I cancel my 2 wheeler insurance claim?
Either you can contact the insurance agent through whom you have filed the claim. But, in some cases, the claim once filed will reflect in your insurance policy, and the score is susceptible to go down nonetheless.
How many add-on covers can I add to my bike insurance policy?
As add-on covers are purchased with the sole aim of extended coverage to any liability, there are as many add-ons available with Bajaj Allianz two wheeler insurance. There is no limit to the amount of several add-ons covered one wants to purchase with one's insurance policy.
Can I get new accessories insured in the middle of my 2 wheeler insurance policy's tenure?
In the case of bike insurances, rarely, the accessories added later on are again getting inspected. Still, in case of getting a claim, generally, the liability to them is covered under specific add-on covers. The company is not liable to give the claim of the non-insured expensive accessories.
What is the rate at which NCB is transferred in 2 wheeler insurance?
No Claim Bonus (NCB) is a reward given to the bike owner by the insurance company if they do not register any claim during the policy tenure. The range of the NCB is from 20% on the own damage premium and increases to 50%, with an increase at every consecutive claim-free year.
The NCB will be transferred at the same rate that you are getting from the previous insurance provider at the time of the policy renewal. You need to provide the following documents:
- Letter confirming the NCB entitlement from the previous insurance company.
- A written declaration and the renewal policy document.
In which all cases, an inspection of vehicles is mandatory?
The inspection process is carried out at the time of buying a new two wheeler insurance policy or at the time of renewal. Other factors leading to inspection are:
- When the claim is registered against any damage.
- When there is a change in the policy type.
- When new accessories or equipment are added or if there is a change in the ownership.
Once the inspection request is raised online, how long does it take to get bike insurance?
Once the inspection request is raised online, the inspection will occur within 24 to 48 hours, followed by an online recommendation made by the surveyor to the owner.
Within 48 hours, you will have to log-in to the website and convert your policy. In case of failure in converting the two wheeler insurance policy within the time frame, you have to go through the entire process again.
How do I get a duplicate copy of my two wheeler insurance online? Will the printout of the softcopy serve as the original document?
Various portals offer users to download a copy of the two wheeler insurance online. You just have to log in to the insurance website and click on your profile. A soft copy will be available for download, and a printout of this document will serve as the original policy document.
What is a premium bearing endorsem*nt in bike insurance?
A bike insurance premium bearing endorsem*nt is the proof of the agreed change in the two wheeler insurance policy, which will attract an additional premium for alterations that you make to your insurance policy document like transfer of ownership, change of RTO, etc.
What is a non-premium bearing endorsem*nt in bike insurance?
A non-premium bearing endorsem*nt is a type of endorsem*nt where you do not have to pay for the alterations or changes you want to make to your insurance policy document. Like the correction in contact details, name correction, rectification in the engine or chassis number, the addition of hypothecation, etc.
How to find my bike insurance policy number?
You can find your bike insurance policy number in the following ways:
- Contact your broker/agent from whom you bought the policy.
- Look into your policy document.
- Check your email because policy details are also sent via email.
- Login to the insurance provider website.
- Contact customer service through email, chat, or telephone.
How to check bike insurance status?
Checking the status of the two wheeler insurance policy has become a lot easier these days. It can be done by following methods.
- You can log in with your registered User-id and Password on the portal and check the status of bike insurance online.
- You can also connect with your service provider's customer care team through email or call to know the status of the policy.
- Contact your broker or agent who sold you the policy.
- You can also check the status via the Insurance Information Bureau (IIB).
- Insurance policy status can also be checked via VAHAN e-Services.
- You can also visit your district RTO office to check all the details, including its policy status.
Who is third-party in an accident?
In an accident, a Third party is referred to as a person who is not you, the first party is the insured, the second party is the insurer, and the third party is the person involved in an accident.
How does a two wheeler insurance work if someone else borrows my bike?
The two wheeler insurance company will cover only you for your bike, which is registered under your name. The bike insurance company will not settle the claim if someone else was riding your bike and damaged it in the process.
Do I need motorcycle insurance to ride someone else's bike?
Yes, two wheeler insurance is needed to ride someone else’s bike because while riding the bike, if by chance you get into an accident, you won’t be eligible for an accident claim as you are not the registered user of the bike. It is best to have the bike insurance in your name as it can protect you from all financial liabilities.
Once you get the bike insurance, you can avail all the policy benefits and can apply for the claim easily in case of theft and accident if you have a valid driving license.
How can I make changes to my two wheeler insurance policy after receiving the document?
Changes to bike insurance policy document can be made in the following circ*mstances,
- Correction in name, registration number, engine number, chassis number, or model number must be made.
- Correction or change of address
- Change in the vehicle, RTO, or registration.
These changes can be carried out by providing a written request to the insurer, e.g., request at Branch, request through customer service or customer service portal.
What is a total constructive loss (TCL) in 2 wheeler insurance?
A total constructive loss is also referred to as TCL. This would mean the cost of repairs in case of damage would exceed the cost of the vehicle or the insured limits.
What if my two wheeler insurance policy is misplaced?
In case your two wheeler insurance is misplaced, you can get it reissued from the insurer. You can request a duplicate copy offline.
- Inform Your Insurance Company
- File a First Information Report (FIR)
- Advertise in Newspapers
- Write an Application to Your Insurance Provider
- Sign an Indemnity Bond
Online Process
- Visit your insurance provider’s online portal or website.
- Enter the policy details such as policy number, etc.
- You can now view, print, or download your bike insurance policy online.
Can I renew Bike Insurance online?
Yes, Bike insurance can be renewed online, one can avail this feature by directly logging into the insurance company portal or various portals / mobile apps which provide online insurance facilities.
What documents do I need to renew my Bike Insurance?
Documents required for two wheeler insurance renewal are:
- Address proof documents (driving licence/passport/passbook).
- Recent passport-sized photograph.
- Old insurance policy number.
- Two wheeler registration certificate number and registration number.
- Proof of identity (Aadhar/Passport/Ration card/ Voter ID etc.).
All these documents are to be submitted along with the insurance renewal form.
What can be done to renew my two wheeler Insurance during Coronavirus Lockdown?
In case your two wheeler insurance policy needs to be renewed during the coronavirus lockdown, you should immediately get in touch with your insurance company and complete the renewal process. Renewing the policy online is the best renewal method during the lockdown as this process will be completed safely online, hassle-free and in a touch-free manner.
If there is TP premium revision during the current tenure, will additional two wheeler insurance premium be collected from the customer?
No, even if there is a third-party premium revision during the currency of the policy, the additional premium will not be collected from the customer. However, at the time of the next insurance policy renewal, the premium will be charged according to the revision in the third-party insurance policy.
Is the premium calculation logic the same for commercial and private two wheelers?
No, the premium calculation logic is not the same for commercial and private vehicles. Commercial vehicles are put into use more often and have a higher risk quota. Hence the premium calculation logic charged for these is different and slightly higher than the premium calculation logic charged for the private vehicles.
What is ARAI?
ARAI stands for the Automotive Research Association of India. All different types of engines or the vehicles which are used in any sort of automotive and non-automotive purposes are certified and tested authentically by this agency. It is India’s authorized agency to carry on such affairs and more.
Am I eligible for a concession on my bike insurance premium if I am a member of ARAI?
No, there is no such concession offered to the members of the Automobile Association of India in the insurance premiums. No doubt they get many incentives and concessions on loans but not in the insurance policies.
Will my bike insurance premium increase after a claim?
The premium for a two wheeler is discounted under the NCB discount rate every year. If one has taken the claim, then this discount account will be cleared, and the insured at the time of policy renewal will have to pay the premium at original rates. Yes, the premium will increase without applying the discount.
When should I report to the police?
Immediately after the accident, the insured is accountable for reporting to the police as soon as possible. In case of severe injuries incurred by the insured, the person or their known has to report within 24 hours of the accident.
Where can I view the list of cashless garages in my city?
The list of the garages where the insurance companies have their tie-ups to precede the cashless reimbursem*nt is usually available at their websites in case of online bike insurance or their office one can enquire about them.
Is there a time window for filing a two wheeler insurance claim?
Yes, there is a time window for filing a two wheeler insurance claim. The time window to register and submit the claim intimation is 24 hours. In only severe conditions of medication, the period may be extended, but basically, it is 24 hours.
What does the surveyor check during the bike insurance claim process?
The surveyor enquires about the entire incident. He/she will take the photographs of the damaged vehicle, check the driver's license, RC copy, Insurance copy, Affidavit in case no damage is caused to the third-party, FIR if any. Lastly, the surveyor will form the case report and later submit to the company to proceed with the claim.
What is the minimum amount of claim, to process the claim intimation for two wheeler insurance?
The minimum amount of claims starts from 1000-1200 rupees to process the claim intimation, but it rarely happens. This is so because of the advantages of not taking the claim, that is, the No Claim Bonus discount, which the insured will receive at the time of the renewal of the policy.
How many bike insurance claims can be reimbursed in a policy period?
The number of claims that one can reimburse in a policy period depends upon the policy period. In an annual policy, the number of claims one can avail of is 3. In long-term policy, the total number is 9, 3 per year. If the number of claims exceeds 3 a year, the insured will not get any security amount.
How much time does it take to claim a settlement for my 2 wheeler insurance policy?
Time taken in the process of claim settlement varies due to several components. If all the documents are submitted, and there is no delay in the court process, then the maximum time for the settlement is 10-15 days. Otherwise, the settlement can take as long as 30-45 days.
In what scenarios can I make a PA claim under my two wheeler insurance?
PA stands for the personal accident insurance claim. In different scenarios under the period of the insurance policy, if the insured went through the accident and got some injury, any permanent disability is incurred, or he died, then one can raise the PA claim.
Can I ask for some advance in case the repair charges are very high?
No, you cannot ask for any amount as advance even in case of high repair charges, as under non-cashless reimbursem*nt, you have to pay the bills of the repair on your own at first and submit the necessary documents and bills, then you get the claim.
Can I choose not to claim if the damage is minimal? What do I gain out of it?
Yes, you can choose not to claim if the damage is minimal. This is to avail of the discount from No Claim Bonus. The No Claim Bonus discount is awarded at the time of renewal of the policy. The discount at the premium is more beneficial than availing the claim for the bare minimum.
Can I raise a claim if my two wheeler is involved in a mishap during the grace period?
Yes, you can raise a claim if your two wheeler is involved in a mishap during the grace period. Grace period refers to the period of your policy extended by the insurance company for you to pay the premium without the lapse of the policy. This period can be as long as 30 days or as short as 24 hours depending upon the insurance company policy.
