Car Insurance Claim Procedure
Motor
Vehicle Insurance is compulsory in India under automobile Act 1988. car
insurance is that the coverage of the danger of a third party arising out the use
of automobile and also for covering the danger of injury caused to the vehicle.
Indian people neither concern about life insurance Plan nor Medical Insurance
plan but they're more concern on car insurance either they're driving a Scooter
or a motorbike or a Car or a Truck. it's mandatory otherwise if anyone injured
without insurance vehicle, it'll treated kind of a criminal offense .
Now
days everyone have their own vehicle, roads are jam pack with vehicles, the
danger is high so as a result, motor insurance companies are growing day by day
and claims have also gone up. But many a time, the policyholders do not know
exactly what they're going to do to urge their car insurance Claim Procedure.
Here
we are explaining the procedure the thanks to claim on your car insurance
policy. this might assist you tons .
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| Car Insurance Claim Procedure |
How
to claim on your car insurance Claim
We
will understand this procedure in some scenario step by step so it'll be very
easy for us.
Claims
for own-damage: If your car met with an accident, you need to follow these
steps to mention for damages:
1-Inform the insurance service provider
First and foremost you need to inform to the
insurer at the earliest and you have need to submit a duly filled in form in
conjunction with the required documents to the insurance company before you
send the car to the garage for any repairs. The forms are available on
insurance service provider's websites. Most insurers follow strict guidelines
and its mentioned within the policy documentation.
2- Lodge FIR
In some cases, First Information Report (FIR) is required so lodge FIR to
the closest police station for the safer side. Although it's getting to not be
mandatory for claim settlements but it's advisable to lodge an FIR. It depends
on the condition.
3-Assess the damage
Once you inform to insurance service provider, they go to appoint
a surveyor who will assess / evaluate the damage of your vehicle. He will
prepare a report and pass it on to the insurance company . you'll also receive
a reproduction then you'll move your car to the closest network garage for
repair.Note: If the damage is severe then surveyor will reach the spot of the
accident at the earliest for survey.
4-Claim settlement
As soon as insurance company receives survey report, they go to
research the claim request and sends an approval to the garage. The garage will
got to provide an estimated cost for the vehicle repair and timelines for the
same . The insurer are getting to be in-tuned with the network garage for an
overall view of the extent of injury and thus the way during which the repair
work is proceeding.
5-After the work is completed
you will need to require the duly signed bills and
documents from the garage and submit them to surveyor. Surveyor will send it to
the insurance company .
If
all the documents are completed, the insurance provider will reimburse your
bills. confine mind that there will be some compulsory deductible and variable
deductible components, as stated within the policy document. Once your claim
settled and your car is OK then you'll drive again.
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| Car Insurance Claim Procedure |
Car the insurance claim process for a third party claim: -If you're responsible for an
accident, where a third-party suffers injuries or damage to property, here, is
what you'd wish to do:
1- Inform to the insurance service provider
First and foremost you need to inform to your
service provider at the earliest. Also remember to not make any financial
commitments to 3rd party.
2-Lodge
FIR
Lodge FIR at the closest police station and keep a reproduction of the
FIR for future reference also.
3-Share policy document
you need to mandatorily share a reproduction of your car
insurance policy with the third-party, so as that they're going to raise a
claim thereon .
4-Claim at Motor Tribunal
according to the automobiles Act 1988, third-party
liability claims are raised at the Motor Accident Claims Tribunal (MACT). The
claim are often raised by the third-party at the tribunal closest to his/her
residence or yours.
After
receiving all the documents, the insurance service provider will verify the
documents and assess the accident and if found satisfactory, you will get a
lawyer appointed by them.
If
the court directs you to pay the damages to the third party thereafter, the
insurance service company will directly pay the dues to the third party.
It
is advisable to determine if things are often settled amicably outside the
tribunal.
Claims
for theft: If you discover that your car has been stolen then follow the below
procedure.
1-Lodge FIR
Lodge FIR at the closest police station and keep a reproduction of the
FIR for future reference also.
2-Inform to the insurance service provider
you need to inform to your service provider at
the earliest with a reproduction of FIR Once
you receive the last word report from police station, make a reproduction of
it and submit it to your insurance company.
The insurance company will assign
an investigator. Investigators will make the report and undergo an insurance
company. Once that's done, submit the RC book of your stolen car to the
insurance company.
➤Submit
the duplicate keys of the car and also a subrogation letter. you'll also need
to submit a notarized indemnity on a stamp paper also.
➤ Once
all the formalities are completed, the insurance company will disburse the
claim.
It
is very important for us to know about the formalities of a car insurance claim
procedure otherwise many people are paying from their pocket due to lack of this information.
Nowadays the entire insurance service provider's having a
very good customer support network and their teams are skilled and co-operative
also so you must communicate with your insurer whenever you need it.
I
wish that you don't need these procedures. I wish you will have a Safe Drive,
someone is waiting for you.
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| Car Insurance Claim Procedure |
Source / Agency
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