How to claim car insurance for own damage policy?

Driving a four-wheeler comes with numerous risks, and insurance exists to protect you from them. Indian law mandates third-party liability insurance for all car owners. It means you cannot drive your dream car if it is not covered by third-party insurance. However, this is a bare minimum coverage and does not protect you against damage to your own vehicle. If you want to protect your car, then you must opt for either your own damage or comprehensive car insurance. Today, we will look at our own damage insurance and its claim settlement process in detail.

What is own damage car insurance?

Based on the Insurance Regulatory Development Authority of India's (IRDAI) directive, a standalone own-damage policy was introduced in September 2019. It is a separate cover that protects your vehicle financially against damage caused by fire, accident, theft, or natural disaster. However, the policy is only available if your car has active third-party coverage. Own damage cover allows you to purchase riders to boost the scope of policy coverage.

Steps to claim car insurance for own damage

• Notify your insurer

Inform your insurer immediately about the mishap that caused damage to your car. Doing that within the stipulated time is important. 

• File an FIR

You must immediately file an FIR if your car is damaged in a road accident or stolen.

• Damage assessment

Following your intimation to the insurer, a surveyor from your insurer's side will visit the incident scene and assess the extent and nature of the damage.

• Report evaluation

Your insurer will review the surveyor's report and process your claim accordingly.

• Settlement

If you are submitting a cashless claim, the bills will be settled directly with the garage. In the event of a reimbursement claim, the insurer will review the estimated cost, provided by the surveyor, and actual bills and pay the amount into your account within 2-3 working days.

Documents required for filing the claim for own damage

Accident-related claims

• Duly filled claim form
• Road tax receipts
• Copy of your own damage policy document 
• Copy of car registration certificate
• Driving licence of the person in the driver's seat at the time of the incident
• Original repair invoices
• Address of the place where the vehicle is inspected (if not garage)

Theft-related claim

• Copy of your own damage policy document
• Copy of FIR
• Copy of declaration form submitted with the RTO
• Subrogation letter
• Road tax receipt
• Original registration certificate
• Form No. 28, 29, 30 and 35
• Intimation letter from the RTO stating vehicle discontinuation
• Warranty cards, booklet, and duplicate keys

Things to remember when raising own-damage car insurance claims

• Avoid delaying the submission of the claim following the incident. Filing a claim after the deadline may result in its rejection.

• If the damage comprises dents, scratches, or minor flaws, try to cover the cost out of your pocket. Filing minor claims exhaust your car insurance NCB and nullify the opportunity to save money on premiums.

• Save all invoices and make sure you have a copy of the FIR with you if the claim is related to an accident or theft.

• Understand the terms and conditions of your policy. Go over the inclusions and exclusions before filing a claim.

• If possible, write down the registration number of the third-party vehicle involved in the accident. It will be required when filing an FIR.