How to Claim Car Insurance?

Car Insurance is mandatory to drive the car on the road and to ensure financial safety in case of car accidents and damage for several reasons. You can use car insurance with no claim bonus to ensure low car insurance at the time of your policy renewal, for not claiming car insurance for the past year. 

You can save more and have a quick approval process with less stress when you know what documents are needed when to apply for a claim, and what claims can be rejected.

How to Claim Car Insurance in Case of Car Damage?

A simple car insurance claim process allows you to claim your settlement in less time. There is a proper path to follow for the claiming process. Follow the below steps to learn more:

Step 1: Your priority is to inform your insurance provider. Be transparent to them about accidents and damages.  

Step 2: Always report the situation to the police, and have a copy of the FIR. 

Step 3: Collect proof in the form of a picture of the damaged car and accident location. This speeds up the verification process.

Step 4: Your insurer will allot you a surveyor who inspects the car and the sport and prepares a report.

Step 5: Submit documents as asked and the list of documents listed above to the insurer.   

Step 6: After approval, select for repair on your own or at insurer network garages. 

Step 7: If you choose their network garage, bills will be paid directly by the insurer. If you choose your garage, you need to pay first, and can later apply for a car accident insurance claim.

Documents Required for Car Insurance Claim

You should have a clear knowledge of the list of documents that insurers expect from you if you go to claim your car insurance. Having knowledge of such documents, and keeping them handy saves you time and effort. There are different documents required in different cases of car damage.

Accident claims

• Claim form

• Tax receipts

• Car insurance policy-copy

• Driver’s license

• FIR copy

• Bill for car repair

• Vehicle inspection address

• Copy of registration certificate

• Medical receipts in case of any injuries

Theft claims

• Car insurance policy-copy

• FIR copy

• RTO theft declaration

• Subrogation letter

• Tax receipts

• RC book

• Claim discharge voucher

• Signature on revenue stamp

• Forms (28, 29, 30, 35, etc.)

Third-party claims

• Driving license

• RC book

• Copy of FIR

• A signed claim form

Lost Your Car to Theft? Here’s How to File an Insurance Claim

You can claim car insurance if your whole car gets lost, just follow the below steps, and you can get your money back.

Step 1: File an FIR in the local police station where the accident has occurred.  

Step 2: Inform your car insurance policy issuer as a priority with complete details and transparency

Step 3: Submit all the required documents such as FIR copy, required RTO forms, insurance copy, driving license, RC copy, etc.

Step 4: An investigation process by the insurance provider will occur. The police investigation will result in no trace report after 30 days. In case the vehicle is not found. 

Step 5: The car’s value is been calculated based on its year of manufacture, age, and depreciation.  

Step 6: Based on the type of policy you have chosen you will receive the car’s compensation after deducting a specific amount for depreciation.

Step-by-Step Guide to Claim Car Insurance for Third-Party Accidents 

You can even claim compensation if another person met with an accident due to your car. You can claim for their damages. Follow the below steps for a smooth process:

Step 1: Report the accident to the police file for FIR, and obtain a copy of the same. 

Step 2: Get information about car owner and their insurance policy.

Step 3: Information about the accident should be provided to the insurance provider of the car owner.

Step 4: Provide documents such as images of the accident, location, FIR report, witness statements, medical records, and information on damage 

Step 5: File the claim forms as per the situation to the insurance company.

Step  6: An investigation is done by an insurance company.

Step 7: If an out-of-court settlement between the claimant and the insurance company is not done then; a lawyer for motor accidents is hired and court proceedings are done.

Step 8: Upon successful completion of the investigation you will get compensation from the insurance provider of the car owner, as per court instructions. 

Factors to Consider When Filing for a Claim

Consider different situations based on which your claim can be rejected or approved, and act accordingly. The car insurance claim settlement ratio of an insurer depends on several factors in their policy. You should know these factors to claim accordingly and increase your chances of approval.

• Exclusion: Insurance policies always have some exceptions for incidents and car parts, and thus do not include such incidents or parts as it increases the chances of rejection.

• Depreciation: For all insurance policies depreciation for the asset is calculated and the final statement amount is less with that depreciation rate. You can use a Zero depreciation car insurance add-on to overcome this.

• Deductibles: You need to claim according to the deductibles you have agreed as you need to pay on your own for those agreed amounts. 

Add-on benefits: Make use of add-ons such as zero depreciation, and no-claim bonus to save more during claims and during renewable time.

Conclusion

Having proper knowledge of claiming car insurance helps to save more of your repairing cost, and save your funds in case of major repairs or thefts. Understanding the claims process can reduce your effort and stress, helping you save money so you won’t have to pay out of pocket. There are various factors and tips you can use to save more and reduce stress during the claiming process.