How to Make a Car Insurance Claim
Tips:
- Invest in an Own Damage (OD) policy for maximum coverage.
- Keep your insurer informed in cases of an accident.
- Renew your motor insurance in time, for your own good.
Learn how making a claim can be hassle-free
According to IRDAI, motor insurance premium accounted for 47.90% of the total premiums collected in the general insurance industry in the year 2013-14. The simplification of the claims procedure has made it easier for the insured to realize their claims.
We often grumble when we have to renew our motor insurance policies. However, in case of accident, damage or theft of the vehicle, we always have our insurance cover to fall back on. With insurance going digital making claims has become more convenient.
Understand the motor insurance claim process through the following major causes for claims in India:
Motor Accident Claims
Motor accident claims fall under 2 categories:
1. Third Party Claims
Availing Third Party Liability insurance is compulsory and non-compliance will lead to hefty fines. In case your car has been involved in an accident that has caused injury or damage to a third party, you need to intimate the police and the insurance company immediately. Any claim form or letter received from the third party has to be forwarded to your insurer.
2. Own Damage Claim
A comprehensive insurance plan covers damage to own vehicle, in addition to covering the legal liability of third party. It also covers the damage to your vehicle due to perils such as earthquake, storms, floods, etc.
In case of an own damage claim due to an accident, you need to inform the police and your insurer about the accident. In such cases, you are allowed to move the damaged vehicle from the accident scene only with the permission of the police and the insurer.
A surveyor from the insurance company assesses the extent of damage and gives his report. You can get your vehicle repaired after the survey, at any authorized repair center. Your insurer will compensate you for the damage, as per your policy terms.
One can also go for the Cashless Garage plan where you can easily repair your vehicle at any garage that has a tie-up with your insurance company. Your insurance company settles the bill with the garage and you do not have to pay any cash.
ICICI Lombard's motor insurance claims procedure
Theft Claims
In the unlikely event that your vehicle has been stolen, you need to intimate the police and the insurance company immediately. An FIR has to be filed with the police. Intimation has to be sent to the local transport department regarding the loss of the vehicle.
The claim form has to be filled and submitted, along with the required documents. The key of the vehicle needs to be surrendered to the insurance company at the time of making the claim.
Remember that your insurance policy is your best friend in difficult times. It is always advisable to opt for a comprehensive policy, which will cover damages to your vehicle due to causes other than accidents. Choose a policy that offers you the maximum benefits. Make sure that you renew your policy in time, in order to be covered against accidents at all times.
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