Buying your own car is a dream come true. You put in your hard-earned money to buy this precious possession and take all necessary steps to keep it in stellar condition. This includes purchasing a car insurance policy so your car will be protected if any untoward incident like an accident or theft happens.
But, just owning an insurance policy isn’t enough. You need to understand the most important facet of it, i.e., the claims process. If you are well-versed in the process, you can ensure trouble-free claims approval.
So, how do you make a claim under your policy? What are the documents you will require? Can the insurance company deny the claim?
Let’s discuss all this and more!
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What is a Car Insurance Claim?
You should know what an insurance claim is if you have an insurance policy. It is a formal request made to your insurer to claim or cover the losses incurred, as mentioned in terms of the policy.
Let us understand this better with an example
Sheetal insured her car with an IDV value of 5 lakhs. When she was returning home on a rainy day, she accidentally hit a post and dented the bonnet of her car. Now, she can contact her insurance company to raise a claim for the affected part and get the repair costs covered under the policy.
Types of Car Insurance Claims
There are two types of car insurance claims -
Cashless claims, as the term implies, are claims done on a cashless basis. The payment is made directly by the insurer to the garage where your car is getting repaired.
Please note that a cashless claim will be approved only if the repair work is carried out at a garage on the insurer’s list of network garages. Getting your car repaired at a network garage will make the claims process easy for you since you won’t have to pay for the repairs from your own pocket. However, you will be required to pay compulsory deductibles or consumable costs, as applicable.
Reimbursement claims require you to pay for the repairs to the workshop/garage yourself. You can later claim the bill amount from the insurer by submitting the required documents. On approval, the claim amount will be credited to your bank account.
You will have to use this option when the repairs are carried out at garages not listed by the insurer.
Understanding The Claims Process
List of Documents
- Duly signed and filled out claim form
- A copy of your insurance policy
- Tax payment receipt
- Repair work estimate given by the garage. Ensure that it is signed and stamped by the garage.
- Original repair invoice and payment receipt, duly signed and stamped by the garage
- Claims discharge and satisfaction voucher that is duly signed across a revenue stamp
- If you have not taken the vehicle to the nearest garage, the vehicle inspection address details
- Your original driving license and a verified photocopy is to be given to the surveyor
- Your original RC and a verified photocopy is to be given to the surveyor
- PAN Card
- Aadhar Card
- A copy of the Pollution Under Control Certificate
- A canceled cheque/passbook
- Once the documents are verified, the insurance company will transfer the approved claim amount to your bank account.
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Things to Keep in Mind for A Smooth Claims Experience.
Just owning an insurance plan will not ensure that your claim gets settled quickly. Here are a few things you should keep in mind so you have a hassle-free claims experience -
Make sure you inform your insurance company at the earliest when an accident happens. Any delays can increase the probability of your claim getting rejected. If, however, there is a genuine reason for the delay, the insurance company might ask you for supporting credible proof.
Wait For The Approval Of The Insurance Surveyor
Refrain from showing hastiness in repairing your car. Wait till the appointed insurance surveyor inspects the damaged car and approves the repair work. If the car is repaired before the arrival or the approval of the surveyor, the insurer might reject the claim.
No Coverage For Accidents Caused Under The Influence Of Alcohol Or Drugs
If you are found to be drunk or under the influence of narcotics when the vehicular damage took place, the insurer will not approve your claim.
Undisclosed Accessories Will Not Be Covered
If you have any extra accessories fitted to your car after purchase, inform your insurer about it and get the same endorsed to your insurance policy too. If you fail to do so and the accessory is damaged, it will not be covered by your policy.
Knowing the car insurance claim process is as crucial as getting your car insured, to avoid delays and unnecessary hassles. Now that you know about the car insurance claim process, you can be less worried about your next drive!