About car insurance
A car Insurance policy or a motor insurance plan is an agreement that a car owner, or anyone with an insurable interest in a car, enters with an insurer. In consideration for a premium to be paid by the insured, the insurer promises to pay commiserate compensation in case of any losses arising from a road accident involving the vehicle, and against liabilities arising from any incidents involving the car. The contract may also provide cover against theft of the car and damage sustained because of causes other than a road accident. A third party car insurance plan and a personal accident cover for the owner-driver are mandatory for all vehicles plying on public roads in India.
Documentation & process for filing a car insurance claim:
1. Copy of the Registration Certificate or RC
2. Copy of the Driving License of the person driving at the time of incident, if applicable
3. Copy of the FIR, if applicable
4. Original estimate of the cost of repairs, if applicable
5. Receipts of any payments made which are to be reimbursed
6. Policy certificate
7. Duly filled and signed claim form.
On receipt of these documents, the insurer would appoint a surveyor to estimate the damage and authenticate the claim. Once approved, the settlement would be paid out to the garage in case of cashless settlement or reimbursed to you.
In case of a theft, you would receive the IDV of the car as settlement. This would be paid out only after giving the police enough time to verify and, if possible, recover the stolen vehicle. You should also report any documents lost with the car and get the duplicates as soon as possible.