Bike Insurance: Can I finance a bike if I don't have 3 month bank statement?

 Your bike insurance is expired, you did not renew the insurance and then this unfortunate accident happened. So how will you bear this huge expense of repairing your bike if you buy new insurance now will your insurance company pay the repairing cost? . What's up lovely people? This is Anaijohn. 

This happened in January 2021. My father-in-law met with an accident on Honda Dio. How did that happen? Let's not get into that. Let's just say thank God nothing major happened. He had a broken hand and injured leg but by now he is fully recovered. So our dual insurance was expired and we were so careless that we did not renew the insurance and the repairing cost was coming nearly Rs12,000. So it just happened that we saw an offer going on Amazon about two elder insurance by Echo Insurance Company.

 If yes, how much they're going to pay? So let me share my experience with acquaintances. So on 9th January, I purchased this insurance from Amazon. You can see here I paid about Rs101.  They also sent me another email on the same day with the attached insurance copy. So anyway, let's click on this. So let me just Zoom in for better clarity so you can see I paid Rs1014 and the total IDB is $31,576. Now the trick is you have to read this. Please note the section.  It says here in case of a claim event arising within 30 days from the start of this policy, the insured is required to submit a copy of his previous insurance policy. That means my previous insurance copy.

 I have to submit if I am claiming within 30 days from the date of purchase. So it's like the previous insurance is already expired. So I had no other option other than waiting for 30 days otherwise my claim might get rejected. So anyway, I didn't want to take any chance. So we waited for 30 days and then started the claim process. So you can see it here. On February 20 I claimed this insurance. Here is the email I got after filling that claim form it was very easy to claim. In case you have any confusion. I will help you to understand how to fill out that claim form. You can just go to this echo.com website and log in with your email ID or mobile number and there will be a claim option.

 On February 28 you can see I claimed the insurance we received this email claim created so there is a confirmation email I got from them and on the same day February 20 we received another email from them. There is a list of documents that I had to submit so I have to click here and then it asked me to upload all the photos of the motorcycle and other documents. So anyway after uploading all the documents we got another email on February 20 that is the survey schedule. So after uploading that we got this confirmation that we have scheduled the survey of your Honda. 

So after like I waited for seven days, after seven days I received another email where they told me that some documents are missing so I forgot to upload that Racebook copy front and back on this email you can see that this is a reminder email. This is a reminder email for submitting documents so I again had to click here and upload all the documents that were missing. So if you see hereafter uploading I also send them an email for the confirmation that Racebook is front and back and also I have sent the screenshots of the uploaded documents. After that, on February 27 we received that ticket confirmation so this was the ticket confirmation email from Echo. 

On the very next day 28th February I received that how much amount they were going to pay me so it was Rs6390 is what they are ready to pay and I just have to click on this accept a settlement offer and on the very next moment, I received another email where the claim paid out so they transferred the amount and it was immediately reflected on my account. So overall the experience with Echo was really very nice so the total bill for the repairing cost was about $10,674 since these people picked the vehicle from the location so they added $150 more and for that so the total cost was $10,824. Overall my experience with the Echo Insurance Company was very positive so I don't mind recommending my friends to go with Echo.