Over the years, insurance has gained popularity because of its ability to provide financial support when required. It works as an umbrella that gives financial cover to you and your family during any emergency. You get a range of insurance policies from health insurance, vehicle insurance to life insurance to cover various risks. However, many dread the insurance claim process, assuming it as a daunting task. Here is a comprehensive guide to take you through the process in a simple and straightforward manner. So, you can easily file an insurance claim in just a few steps.
Step-by-step procedure to file a claim
- Contact your insurer. The first step of claim process is to contact your insurer and intimate about the claim.
- Fill your claim form and attach the relevant documents.
- A surveyor conducts damage evaluation.
- Acceptance of your claim.
- Get the claim amount.
Contact your insurer
The first step of insurance claim process is to contact your insurer and intimate about the claim. Be it a life, health, or property insurance claim; it is essential to inform your insurer at the earliest. Generally, you need to inform the insurer within 48 hours from the incident if you opt for cashless health insurance. For reimbursement claim, you need to contact the insurer and submit the documents within 10-15 days. You will find the deadline for making a claim mentioned in the policy document, which may differ from insurer to insurer. A delay in claim intimation will only make the process more time-consuming and cumbersome.
Fill your claim form and attach the relevant documents
Once intimated, the insurance company will send you an insurance claim process form. You can also log in to the insurer's website and download the form. Make sure you fill it with utmost accuracy. You need to attach certain documents along with the claim form.
For example, when making a health insurance claim, you need share documents like hospital bills, discharge summary, and doctor’s prescriptions. Similarly, for a motor insurance claim, you need to submit the invoice, FIR copy in case of an accident along with the claim form. You may also have to submit the evidence to prove the accidental damages.
You will find the entire list of the documents required for claiming the policy benefits on the insurance policy document. This will help you to raise the claim hassle-free.
A surveyor conducts damage evaluation
For motor insurance, the insurance company may send a surveyor to investigate the validity of your insurance claim. The surveyor will evaluate the authenticity of the claim with due diligence. For life and health insurance, the insurer will start processing the claim settlement request upon receiving and verifying all the documents.
Acceptance of your claim
If everything is in order following the policy's terms and conditions, the claim will get accepted and processed quickly. However, the claim may get rejected if the insurer finds that the policyholder has given incorrect information or hidden any vital information.
Hence, it is essential to provide accurate information in the proposal as well as in the insurance claim process form. Any discrepancy in the claim form will lead to claim rejection and defeat the very purpose of insurance.
Get the claim amount
For cashless claim, the insurers will directly settle the bills with the network service providers. For reimbursement claim, insurance companies usually process claims within 10-30 days. You get the payment via NEFT into the registered bank account. In some cases, you may receive a check. You can also track your insurance claim status online. Make sure to give the correct phone number and email ID to receive regular updates.
Steps for third-party claim
Here are the steps you need to take to make a successful claim:
- Exchange details with the other driver, including their registration number and insurance details.
- Gather evidence, such as photos and witness statements.
- Contact your insurer to begin the claims process. They will ask for the other driver's details and evidence of the accident.
- The insurer will investigate the accident and determine who was at fault.
- If the insurer decides that the other driver was at fault, they will pursue a claim against that driver's insurance company.
- If the claim proves authentic, your insurer will cover the costs of any repairs up to the value of your vehicle.
Car insurance claim process for a stolen car
Here are the steps to ensure a smooth insurance claim process in case of car theft:
- Inform the police of the theft and obtain a crime reference number for your insurance claim.
- Contact your insurance company immediately and provide all the necessary information, including the police report.
- Your insurer will investigate the theft and assess the damage to your car.
- If the car is found, the insurer will arrange for it to return to you. If the car is not found, they will determine the extent of your loss.
- If the car suffers total loss, the insurer will pay out the market value of your vehicle at the time of the theft.
- Complete any necessary paperwork and provide all the relevant documents required by your insurer.
Most insurers ensure hassle-free claim settlement process for the policyholders. However, you can check the insurer’s claim settlement ratio when buying an insurance policy to know the company’s efficiency in settling claims. Insurance companies also provide 24x7 customer services to assist policyholders to complete the insurance claim process correctly. However, you must ensure to provide accurate information and right documents to make the claim settlement procedure seamless and hassle-free.