Best Bike Insurance without External Inspection

With technological advancement, like any other industry, the insurance sector has also changed its working procedures to quite an extent. Nowadays, insurance companies and policyholders can interact with each other through digital platforms and can even perform the car inspection process online.

The inspection is a procedure under which the vehicle is physically examined by the surveyor of the insurance company. It is a crucial process which is processed to confirm the existence of the vehicle and to analyse its current condition. This is a vital process for an insurer to ensure that the customer has made a genuine claim and to compute the claim amount to be released as per the condition of the vehicle and rules of the policy. There are only two ways to do an inspection which are as follow:

1. External inspection – It is a procedure where a surveyor from an insurance company visits to examine the current and exact condition of the vehicle. Following are the scenarios where inspection is required:

• When the motor insurance policy expires and the policyholder tries to renew it in the break-in period. In such an event, inspection is essential to renew the insurance plan.
• When the policyholder tries to switch in a comprehensive insurance plan from a third-party insurance policy, the insurer does an inspection.
• When the policyholder tries to transfer the insurance plan in the name of some other person by selling the vehicle, the insurance provider requires an inspection.
• When the policyholder tries to get an insurance policy to cover additional accessories that are installed in his vehicle like CNG kit, anti-theft devices, etc., an inspection is required.
• When the policyholder makes a claim after meeting with an accident and his vehicle sustains damages, an inspection is to be done to confirm if the claim is genuine or not.

2. Self-inspection – It is a process where the present condition of the insured vehicle is apprised by the policyholders through images and videos to their insurance providers. The pictures and videos are to be prepared as per some specific guidelines. In short, advancing technology has started the self-inspection processes, which may gradually eliminate the need for physical inspections in the future.

Top 3 Insurance Companies Providing Self-inspection Facility As Per Claim Settlement Ratio

(Source: IBAI’s General Insurance Claim Insights Handbook For Policyholders - 4th Edition)

According to the claim settlement ratio of FY 2018-19 for own-damage bike insurance, these are the best 3 insurance providers offering claims with self-inspection facility.