Claims
If your vehicle happens to undergo an unfortunate event like an accident, theft, or any similar mishap- you need to file a claim by raising a request in your insurance company in order to get the cover amount.
Here is a list of the steps you will need to follow -
You Can File The Claim By Contacting The Insurer Through -
Email
Toll-free number, or
By visiting their branch.
The insurer will request you to produce the required documentation and shall appoint a surveyor to inspect the car.
Once the inspection gets over, you can have your car repaired at your insurance company’s network garages. Please note that if you repair the vehicle before inspection, your expenses will not be covered by your insurance policy.
If it is a cashless claim, then you will just have to pay -
Compulsory Deductible Charges
An amount fixed by the insurer that needs to be paid by you compulsorily.
Consumable Charges (If Any)
Consumables are components that are easily worn out and need to be replaced on a regular basis. A comprehensive motor insurance policy does not cover the cost of consumables.
Depreciation Charges Of The Parts (If Zero Depreciation Cover Is Not Taken)
A car's market value depreciates as it ages. In the event of a claim, the depreciated value of the parts is deducted from the total payable claim amount.
The rest of the claim amount will be directly paid to the garage by the insurance company.
If it is a reimbursement claim, you must pay for all the charges first, and then the insurance company will reimburse the approved claim amount in your account after the repair work is completed.
Cancellation & Refund
You may want to cancel your policy for various reasons. For example, if you are not satisfied with your insurer's service or if you wish to sell your car, you can apply for cancellation. It is possible to cancel your policy at any time. The insurance company will ask you to produce certain documents in response to the cancellation request.
The refund will be processed once the insurance company has validated the documents. It takes 14-15 business days for the money to be credited in your account.
The refund amount is determined based on the date of cancellation.
If the cancellation request is made prior to the policy's commencement date, the entire amount will be refunded, deducting the admin charges (if any).
If the cancellation request is made after the policy period has begun, the refund will be done on a pro-rata basis.