Things to Know About the Motor Insurance Claim Process

Every vehicle owner must insure his vehicle according to the 1988 Motor vehicle Act. Otherwise, he could be punished. It is important that you have your vehicle insured. Also, it is crucial to understand how motor insurance claims work so that in the event of an accident your claim can be processed quickly and efficiently.

What kind of losses can one file under a motor policy?

Third-party losses: Ifsomeone else has been injured by your insured vehicle, or if your vehicle damages any property, it is a third party loss. Third-party coverage covers such losses.

Your vehicle’s damage: Own damage coverage covers any vehicle that is involved in an accident or is stolen. This coverage is optional. You can only get it if your comprehensive motor insurance policy covers you.

What should one do right away after an accident?

Third Party claim – In the event of a third party claim, you should inform the police immediately and the insurance company. If you are the victim, you must obtain the details of the vehicle’s insurance policy and notify the insurer.

Theft claim – In the event of theft, you must immediately notify the police and your insurance company. You should also inform Transport Department.

Your own damage claim: If you have an. In the event that your vehicle is damaged in an accident, inform the police and the insurance company. They can send a surveyor out to assess the damage.

You must not remove the vehicle from the accident site without permission from the police or insurance company.

Does insurance offer cashless?

Yes, cashless insurance is available if you visit their network garages. You don’t need to fill out paperwork and it’s a hassle-free option to visit your insurer’s network Garage.

You can also get reimbursement if you do not want to visit the network garages that your insurer offers. You can have your expenses reimbursed by your insurance company after your vehicle is repaired. To do this, you will need to submit all required documents and bills.

What documents are required to file a claim?

Although some insurance companies may require specific documents, all insurers require the following:

For accident claims

  • Completed Claim Form
  • Copy of registration certificate (RC)
  • Photocopy of the driving license of the driver at the time of accident
  • Photocopy of the first two pages of the policy document
  • Copy of the First Information Report (FIR).
  • Original repair invoice and payment receipt for cashless garage repair invoice

Theft claim

  • Completed Claim Form
  • Copy of registration certificate (RC)
  • All original keys to the vehicle
  • Photocopy of driving licence
  • Copy the first two pages of the policy document
  • Copy of the First Information Report (FIR).
  • RTO Transfer papers
  • Final report or No trace report: If the police are unable to locate your vehicle within 90 day of the theft, they will issue an undertaking that they must still find it.

Third party claim

  • Completed claim form
  • Copy of the First Information Report (FIR).
  • Photocopy of driving licence
  • Copy the first two pages of the policy document
  • Copy of registration certificate (RC)

Do policyholders have to pay for expenses?

Yes, the policyholder must bear some cost.

  • Depreciation amount
  • If the insurer’s network garage is not available, salvage value can be considered reasonable
  • Voluntarily or compulsory deductibles
  • Any compulsory excess levied on the insurer

What happens if an accident occurs outside of the city where the policy was issued?

The country still has a motor insurance policy. In such situations, you may also file a claim.

Can I file a claim to renew my contract?

Yes. If you file a claim, you will lose all of your no-claim bonus.

Claims for minor accidents should also be made

Because every motor policy has deductibles, it is not recommended to file a small loss claim. This is because you will need to pay the deductible before your insurer pays your claim. Before you file a claim for small amounts, you should first determine how much you will have to pay in deductibles and no-claim bonuses. Only then, if it’s worth filing a case, do you need to make one.

It is better to go over the procedures and documentation immediately you receive your policy document than wait for the claim to come up.