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Things To Know About The Motor Insurance Claim Process

 

If you ask which is the most purchased insurance in India, undoubtedly the answer is motor insurance! Nowadays, all of us have vehicles at home. Also, more and more people are buying their vehicle. Hence, the demand for motor insurance is also on the uphill. Motor insurance acts as a blanket of cover and provides coverage in case of injuries to life or property in case of accidents. Hence, people prefer not to take a risk and take motor insurance as soon as they buy a vehicle. Another reason is that motor insurance is mandatory according to the Indian law. If you ride on the roads in a vehicle without motor insurance, you are punishable under the law.

But, here the downside is that though everyone takes motor insurance, most of them do not know how to go about the claim process when something inevitable happens. So, we are here to provide you a clear-cut idea about all the things you need to know about the motor insurance claim process.

In Case Damages Occurred To Your Car

If your vehicle gets involved in an accident, and your car gets damaged, then your insurance will cover all the expenses needed to repair the vehicle. Let us take a look at the things you need to do to make a claim:

  • Get a claim form and fill up all the details related to the accident and damages occurred to the car. Get all the documents necessary to support your claim. You will get the form from your insurance company office or their websites online. You can ask them itself about what all documents you need to submit along with it. Do this first and foremost before you send your vehicle for repair.
  • Next, the insurance provider will assign a surveyor to come and directly assess the damages incurred to the vehicle. The person will look around the vehicle and prepare a report about the damages. This report will be given to the insurance company. You will also be given a copy of the report.
  • In case your vehicle has been objected to severe damage, then the representative of the insurance company will reach as soon as possible at the site of the accident and report the damages.
  • Now, you can give your vehicle for repair based on the report provided by the surveyor.
  • When the damages are all repaired, get a detailed bill duly signed by the repairing company and also collect all necessary documents related to the repair works from them.
  • Submit all the bills and documents to the surveyor. He/she will submit all the papers to the insurance company.
  • After checking all the documents and ensuring the authenticity, the insurance company will pay for all the expenses related to the damages.

Always remember the fact that you have to submit the repair bills and documents immediately after your vehicle has been repaired. Don’t keep them in your hand and think about submitting it later. You will only get the full reimbursement if you give the bills as soon as you get it.

In Case Of Third Party Claims

There can be occasions when your vehicle causes injuries or damages to properties due to a mistake on your part. In that case, the other person involved in the accident will send you a third-party insurance claim notice. In such a situation, here are the steps you need to do:

  • Don’t jump ahead and try to settle the matters with the third party on your own. It can only worsen the situation. If you receive a notice, contact your insurance provider immediately. Never try communicating with the third party on your own! Never opt for out-of-court settlements or financial dealings with the third party without the knowledge of your insurance company.
  • After contacting your insurance company and explaining the details of the incident to them, submit a copy of the third-party claim notice to the insurance company.
  • Also, submit the copies of your driving license, car’s RC book and also the copy of FIR made at the accident spot.
  • The insurance company will go through the details and documents presented by you. Then they will assess the incident and if needed, will assign a professional lawyer for you.
  • After the court proceedings, if the court declares that you have to pay compensation to the third party for the injuries or damages to property caused by you to them, your insurance company will pay the whole compensation amount to the third party.

In Case Of Theft Of Car

If by chance, your car gets stolen by any thieves, there is no need to feel devastated and lost. Your insurance will be at your rescue in this case also. Take a look at the claim process:

  • After you realize and ensure that your vehicle has been stolen, the first step you need to do is to file a police complaint and lodge for an FIR.
  • Get a copy of the FIR from the police station and submit the same to your insurance company.
  • After some days, you will receive a final detailed report from the police. Make a copy of it and submit that also to your insurance company.
  • Next, the insurance company will also assign an investigator to check out the details of the theft. Cooperate with him/ her and answer all their queries related to the theft.
  • Now, wait patiently until the insurance company studies the incident and approve your claim.
  • After your claim gets approved, submit the car’s RC books and spare keys to the insurance company. The ownership of the car will be transferred to the name of the insurance company.
  • Submit a letter of subrogation to the insurance company. Get a stamp paper and submit the notarized indemnity also to the insurance company.
  • After completion of all the above formalities, the insurance company will pay you the value of your car as on the day before the theft.

In case of any doubts regarding the insurance claim, you can always get the help of customer support in your insurance company. Remember the fact that there are certain rules and procedures to be followed if you want to make a claim, be it a small one or large one. Hence, always inquire the details and do as needed to get the claim amount.