How to Claim Car Insurance?

Car Insurance is mandatory to drive a car on the road and to ensure financial safety in case of accidents and damage. 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. 

Let’s talk about the motor insurance claim process and the documents required to complete the process smoothly.

How to Claim Motor Insurance in Case of Car Damage?

A simple car insurance claim process allows you to claim your settlement in no time. There is a. Follow the below steps to learn the proper path to follow for motor insurance claiming:

Step 1: Inform your insurance provider. Be transparent to them about accidents and damages.  

Step 2: Report the situation to the police, and get a copy of the FIR. 

Step 3: Collect proof in the form of a picture of the damaged car and accident location to speed 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 all necessary documents.

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 documents required to submit the motor insurance claim form. Keeping them handy saves you time and effort. The documents required in different cases of car damage are mentioned below:

• 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

Motor Insurance Claim Process in Case of Theft

You can claim car insurance in case your car gets stolen by following these steps: 

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

Step 2: Inform your car insurance policy issuer 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: The insurer will investigate the claim. 

Step 5: The car’s value will be 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 compensation.

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. Let’s look at the pointers you need to crosscheck before claiming motor insurance:

• 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

Use add-ons such as zero depreciation and no-claim bonus to save more during claims and renewable time.

Conclusion

You need proper knowledge about the motor insurance claim process to go through the process smoothly. However, the process is fairly straightforward in case of thefts, damage to own vehicle/life, or any third-party damages.In case you are considering getting a new motor insurance policy for your beloved car, you can also do it via the Moneyview website. Visit the Moneyview website or download the app to get insurance starting from Rs.1.5 per day.