When to Claim Car Insurance Policy
Buying a new car comes along with a pack of added
expenses. While its maintenance and operating costs are a part that we all are
aware of, sometimes in an unfortunate incident, your vehicle may be damaged.
This may need you to pay a hefty amount of money out of your pocket. Buying an
affordable car insurance policy will not only relieve you from heavy expenses
but also save you from any legal hassles, as having a car insurance is mandatory
according to government laws.
Here is the detailed procedure for filing car
insurance claim in India.
1. As soon as the accident happens, call your
insurance provider or the representative even if you are away from your home
location or the accident was caused by someone else. This will help you with
guidance on car insurance claim procedure if you need to file a claim later.
2. Follow the guidance given by your insurance
representative on your car insurance claim process along with how to proceed
and the forms and documents that you will need to file your claim.
3. Your insurance provider may ask for a form called,
“proof of loss” along with the documents related to your claim like medical
bills repair bills etc. Providing all the documents will ensure a quicker
processing of your claim.
4. Do not forget to inform the police as soon as the
accident happens as a copy of FIR is required to file a claim.
5. Keep the
copies of your paperwork filed all together. They may be required for reference
at a later stage.
At the scene of accident, no matter who caused it, you
should first try to get help for the injured people. Next you should make sure
the police is called and nearest medical unit is informed if needed.
Do not move your or the third party’s vehicle before
the police has reached. Take many pictures of damage of your car which will be
used as proof at the time of filing your claim. Your insurance company would be
sending someone to inspect and appraise the damages before you proceed for
repairs.
If you are not sure if you should file a claim or not,
following are the circumstances that you should check for:
Voluntary
excess
We all are aware that higher the excess, lower is the
premium that is needed to be paid. At times the cost of damages may be lower
and less than the voluntary excess amount you have paid. In such a case, it is
suggested that you do not make a claim. But if the damage is more and cost to
repair is high, then claim will be a good option.
No
claim bonus
All insurance companies provide a no claim bonus for
every claim free year to policy holders. The bonus amount may however vary from
company to company. In case of an accident, you can still choose to save your
no claim bonus. If the no claim bonus amount is higher than the amount you
would have to pay for repairs, it is suggested that you refrain from filing a
claim and enjoy your no claim bonus.
Damage
Caused
Before you proceed to get the damages repaired on your
own, you should confirm the costs involved and make sure that they will be
covered by your insurance provider. Once you have the figures in your hand,
take a call whether claim is required or not. Obviously you should file a claim
if the repair cost is huge. However, if the cost is something affordable, you
can avoid making a claim. This will not only save you some discount at the
renewal time but also save you from the hassles.
So, in case of an unfortunate incidence, do not panic
and make a wise call. Make sure you remember and adhere to car insurance claim
rules given by your insurance provider. Remember, your insurance is always
there to protect you.
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