Before opting for a car insurance policy, you should consider a few pointers, the most important one being the claim process. Since this will decide how quickly you will be reimbursed in case of an accident, understanding it is imperative.
Along with all the terms of claim settlement, you should also know the documents required for a car insurance claim and keep them handy to avoid any delays.
The claiming process for a car insurance policy involves a few steps, and you need to be aware of them to avoid any delays in the process.
Step 1: Notify your insurer
The first step of claiming insurance is to inform your insurance provider regarding the incident or mishap with your car and submit necessary information regarding the loss or damages. You need to be clear with your insurance provider about the particulars of this incident to avoid the probability of any claim rejection.
Step 2: File an FIR at your nearby police station
You need to register an FIR at your closest police station, mainly in case of theft, loss to a third party, explosion, etc.
Step 3: Keep pictures of your damaged cars
You need to have clear pictures of your broken car and the area of where the incident took place, from every angle. It will be helpful for you as you can show it to your insurance provider as proof for a faster claim settlement process.
Step 4: Evaluation and assessment
Your insurer will assign you a surveyor to carefully evaluate the images of your car. Following this inspection, the concerned surveyor will prepare an assessment report and provide it to the concerned insurance provider. Depending on that, your car insurance claim will be computed and settled.
Step 5: Submit necessary papers to your insurer
A list of car insurance documents needs to be provided to complete this claim process successfully. It requires documents like a driving licence, FIR, insurance policy copy, registration certificate etc.
Step 6: Submit car repairing details
You can repair your car at your concerned insurer's network garages or go to any garage not registered..
If you go to a network garage, you can repair and take your vehicle along with you without settling the bill as the concerned insurer will complete it. In case of non-network garages, the policyholder is required to pay the entire bill from his/her own pocket and claim reimbursement with his/her insurer. When the claim is sanctioned, the policyholder will get reimbursement for the overall expenses.
Here are some of the compulsory documents required to raise a car insurance claim:
In case of reimbursement, you must submit your bills and receipts of repair costs.Note that you might require to submit additional documents based on the nature of the accident.
To conclude, you should choose a car insurance policy that ensure easy and quick claim settlement. And by keeping these abovementioned documents handy, you can avoid delay in claim settlement process. One must always confirm the necessary documents and other formalities with their concerned insurer before proceeding with the claim process.
With each passing year, where other insurance premiums tend to rise, car and bike insurance have a beneficial NCB, bringing down premium amounts.
No Claim Bonus is simply a perk given to policyholders for not making a claim in previous years. NCB in motor insurance can fetch up to a 20-50% discount on the payable premium amount by maintaining a claim-free record. NCB is not related to the make or age of the vehicle but solely on the claim record of the policyholder.
While purchasing a comprehensive motor insurance policy, you are generally not eligible for NCB unless in the case of NCB transfer. The policyholder will be eligible for NCB on the first renewal of the motor insurance policy, starting from 20%. This is applicable only if no claims have been made in the preceding years. The discount increases with every claim-free year up to a maximum of 50% at the end of five claim-free years.
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