Car insurances are made to protect you from any financial losses caused due to an accident, or the vehicle is damaged in some way such as third-party loss, theft, etc. Most countries and states have made this compulsory to have minimum liability insurance coverage. In contrast, some also need other coverage types, such as uninsured motorist coverage. Some premiums are paid monthly, bi-annually, or yearly to maintain your car insurance policy for these insurances. At the same time, some deductibles are amounts you pay when you file a claim. All these requirements make it’s essential to take the best car insurance rates to find the right coverage for your vehicle at the right price. In more ethical language, car insurance is a contract between yourself and an insurance company in which you agree to pay premiums in exchange for protection against financial losses caused by an accident or other damage to your vehicle.
Types of Claims under Car Insurance:
According to various policy-making sites, under-car insurance, there are three types of claims that you can file. They are as follows:
- Third-Party Claim
Third-party claims are raised to demand coverage for third-party liabilities. If your car has caused any damage to third-party life or their vehicle, then you must report it to your nearest police station and your insurance company. If you are a victim, you should take all the details about the vehicle that has caused damage to you and the contact details of the vehicle owner. In this case, also you need to inform your insurer and police about the accident.
- Own Damage Claim
Own damage claims are those claims that are made when your car is damaged in an accident. In such cases, you should inform the police and your insurer about the incident as soon as possible. The insurer will send a surveyor from its team to check the damages caused to your car. Make sure you do not move the car from the accident location until then. If you have selected a cashless facility at a network garage, your insurer will pay the repair cost to the garage directly. If you have not selected this facility, then you will have to raise a reimbursement claim and submit the documents required for the car claim process to your insurer.
- Theft Claim
The name suggests that theft claims are raised if your insured car is stolen. In such a circumstance, the first thing that you should do is to notify the police, the RTO, and your insurer about the incident. You have to keep all important and required documents of the car and insurance for the claim ready to file a theft claim. Also, you have to submit the keys to the lost car to the insurer if asked.
Process of Making a Car Insurance Claim:
The process of claiming car insurance involves several steps. Following are the steps involved while raising a claim against your car insurance policy.
1. Inform Your Insurer
The first step is to inform your insurer and correct information about the car accident and damages. Give all the required documents, including the driver’s driving license, FIR report, copy of your car insurance policy, car registration certificate, to the insurer. Be clear and transparent with your insurer regarding the information of the incident, as it can prevent any chances of claim rejection.
2. Register an FIR at Your Nearest Police Station
You should file an FIR (First Information Report) at your nearest police station, especially in case of theft, accident, third-party loss, or fire explosion.
3. Take Pictures of the Damaged Car
It would help if you took neat and clear photographs of the damaged car and the place of the incident. They can be helpful to share with your insurer as proof, and they can also help in the faster settlement of claims.
Your car insurer will send a surveyor to assess the damages to your car. After the checking, he will send an assessment report to the insurance company based on which the insurer will continue the claim.
5. Get Your Car Repaired
You can get your car fixed at a network garage of the insurer or take it to a non-approved garage for repairs. Once the claim is accepted, the insurer will reimburse your expenses.
Car insurance has become significant in almost all parts of the world. As per the Motor Vehicle Act, 1988, driving a non-insured car in India is illegal. Insurance has become significant due to the increased probabilities of incidents surrounding us. Therefore, everyone should take the process of insurance seriously.