With the number of vehicles on the road increasing at a quick rate, traffic conditions have been getting worse and road accidents have become a common occurrence. Buying a comprehensive car insurance policy is a good choice if you are planning to buy a car. Even though only the third-party insurance is mandatory by law, it is important to have a comprehensive car insurance policy as it will protect you from any unforeseen damage. This is because the repair and replacement costs are generally very high.
Steps to Remember While Making an Insurance Claim
Some of the steps to remember while making an insurance claim after an accident have been listed below:
Inform the insurance company
This is the first step to be followed when your car has been involved in an accident. There are some insurance companies who have stringent rules mentioned in the policy document. In most of the cases, you may lose the claim if you fail to inform the insurance company about the accident within 48 to 72 hours. It is important to make the claim as soon as possible so that no problems come up during the claim process. The insurance company generally asks for details like policy number, accident date and time, and engine chassis number so keep these details handy if you are looking to file a claim.
Report to the police
In case of an accident, you will be required to file an FIR with the police or else your claim might not be settled at times. It is generally not mandatory to file an FIR for accidents to make a claim. However, it is always good to file and keep a copy of the FIR as most insurance companies ask for it.
Take the car to the nearest garage
You can drive or tow your car depending on the damages to the nearest garage for repairing the vehicle. After notifying the insurer, an inspection of the car will generally be scheduled to know the extent of damage. A surveyor will also come to evaluate the extent of damage to the vehicle. You will be directed to the nearest network garage to get started with the repairs. Ensure that you submit all the necessary documents at the garage so that they can receive the amount from the insurer based on the criteria that have been listed in your document.
What Happens When You Make a Claim in the Case of a Theft?
In the case of theft of the vehicle, you will be required to file an FIR with the police and give the information to your insurance company providing them with the necessary documents. This generally includes a copy of the FIR, the registration certificate of the car, and a copy of your driving license. All of these documents should be attached along with the copy of the first two pages of the policy document and a letter that has been addressed to the RTO. The police will be issuing a Non-Traceable Report if they do not recover the car in 6 months. Once the police submits this, you will have to transfer the registration certificate of the lost car to the name of your insurer. All these documents will have to be submitted along with a letter of subrogation. The claim will be settled by the insurer once all these documents are submitted to the company.
Points to Keep in Mind to Ensure You Make an Car Insurance Claim
The following are some of the tips you can keep in mind to ensure that you make a successful car insurance claim:
- Do not let an unlicensed driver drive your vehicle. Insurers will reject claims without any hesitation even if the other party was at fault in the accident.
- Make sure to fill your claim forms carefully. Take the help of an insurance executive if required. Ensure that you provide all the required and correct information about the incident.
- Check if your car is worthy to be driven on the road. This is because if the car had problems that made it not fit to be driven on the roads, insurance companies have a valid reason to reject your claim.
- Try to click pictures or shoot a video of the accident spot. This may be helpful for both the police and the insurance company in their investigation.
- Make sure that you do not have any speeding tickets or any records of breaking traffic rules. Insurance companies can use this to reject your claim based on irresponsible driving behavior.
- When you report the incident, make sure you stick to the facts and do not mention anything apart from what happened. Furnishing incorrect or fraudulent information will lead to a rejection straightaway.
- The vehicle will have to be used only for the purposes you mentioned in the form while applying for an insurance. Even using a personal vehicle for business purposes can be used to deny your claim.
- Make sure you do not drive the vehicle under the influence of alcohol at any point. Even a small percentage of alcohol gives the insurance company the option to reject your claim.
- Ensure that you continuously follow up with the insurer to ensure that they approve your claim. Checking the status regularly will ensure that they take the necessary action for your claim.
Some Things to Keep in Mind Before Opting for an Car Insurance Policy
Even though making an insurance claim successfully is something everyone should know, you can follow some tips even before you buy the policy so that you are safe if a need arises for you to make a claim. Some of the small things you can keep in mind before buying the policy have been listed below:
- Ensure that you do the required research before picking the insurance company most suitable to your needs.
- Check if the claim process with the insurer is hassle-free. There is no point in holding on to an insurance policy if it does not serve its purpose efficiently. If you face an issue with the claim process with a particular insurer, you can always switch the insurer while you renew your policy.
- Check the claim settlement ratio of the insurer before going ahead and buying a policy. It is best to buy an insurance from the company having the highest claim settlement ratio.
Make sure that you remember these points when you are planning to file an car insurance claim. Go to the insurer with a genuine claim so that they do not reject your claim. It is important to know what incidents are included and excluded in your policy. Read the policy wordings and make claims only for those issues that are included in your policy.