Claiming Process in a Car Insurance Policy

A car insurance policy is something that can stand between you and a hefty repair bill. Car buyers who have been to garages or service centers are well aware of the repair expenses. A minor scratch on the bumper warrants a complete fix. Similarly, if the damage is a bit more serious, you will end up paying a substantial amount of money from your pockets.

Having a car insurance policy acts as your shield against such high cost repairs. You can buy a policy for your car either as a third party liability cover or a comprehensive cover. And depending on the policy type, the claims process would differ.

Let us take consider the example of own damage first. Here are the steps that you must follow for such claims.

  • Let the Insurer Know

The first and foremost step of a claim is to inform your insurer at the earliest about the incident. Most insurers have strict timelines that they adhere to when it comes to claims. Thus, to be on the safe side, do call your insurer as soon as you meet with an accident or the earliest you get some free time.

  • FIR

Though it is not mandatory for a claim settlement, it will surely aid you during the claim process. File an FIR at the nearest police station. And should the insurer ask for it, provide them with an original copy of the same.

  • Evaluation and Repairs

Post a claim request, insurers usually send an independent representative to assess the situation or damages. Once the same is complete, you can take the help of your insurer to get the repairs done at a network garage or any other garage for that matter. Should the insurer ask for supporting documents, helping them will ensure a smoother process.

  • Approval

Once your insurer is happy with all the documents that you have provided and the claim, they will approve the same. For network garages, the amount will be sent directly to the garage. For reimbursement cases, the same will be sent to the account number mentioned in the policy documents.

For a third party liability policy claim, here is what you need to do.

  • FIR

For any claims related to third party liability policies, it is important to file an FIR and provide a copy of the same along with the claims form.

  • Policy Documents

You will have to share a copy of your policy details with the third party. This will ensure that they can claim for the damages without your involvement.

  • Motor Tribunal

All the third party claims are settled in the Motor Accident Claims Tribunal. The third party who was involved in the accident must file for the claim in the tribunal.

Claiming Online in Car Insurance Plan

Insurers these days are going the extra mile to ensure that their policy holders have access to convenience and hassle free experience. Thus, it was only a matter of time before insurers integrated the same with the claims settlement process. Now, you can log on to the website of your insurer and register a claim for your policy. Once you register the claim on the website, the process continues as usual as mentioned above.

After you have raised a request for the claim, the insurer would send for an independent representative to look into the claim and you must submit all the necessary documents. Documents such as claim form, KYC documents, a copy of the FIR, registration certificate of the car etc. are the usual asks. The claim settlement process continues as usual.

Main Benefits of Car Insurance Plan

Unlike the usual notion, a car insurance policy is not restricted only to accidents. In fact, a good policy can protect you in several other ways as well. Here are some of the distinctive benefits of buying a car insurance policy.

  • A third party liability ensures that you do not end up paying money from your pockets if there is an injury, damage or death of third party individual or property.
  • A comprehensive policy offers third party liability cover and at the same time cover for own damage.
  • Most of the comprehensive plans offer personal accident cover for the policy holder as well as passengers of the car.
  • Offers cover against theft, burglary, strikes, riots, malicious activities and so on.
  • Offers cover against natural calamities such as flood, earthquake, landslide etc.
  • You can opt for cashless service at network garages.

A car insurance can do a lot more than just protect you financially during an accident. It is recommended to buy a comprehensive policy to enjoy a host of features and benefits. You can avail the best option on the online comparison and insurance aggregator website as well and then choose the car insurance plan which best suits your needs.

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