Car insurance is an important financial product for any motorist. There are two broad categories of car insurance – third party insurance and comprehensive car insurance. Third-party insurance covers any damages/ losses caused to a third-party by the insured party. The comprehensive car insurance policy covers both, the third-party and the insured person and vehicle. Out of these two, third-party car insurance has been made mandatory by law in India.
In the unfortunate occurrence of an accident, yourinsurance company will survey the damage that has occurred. You might either get cashless cover for repairs or have your expenses reimbursed.
If you have never filed for your car insurance claim before, you might make an error or two the first time. To steer you on the right track, here are five smart tips to follow when filing for a claim on your car insurance policy.
Take photographic evidence
It is always advisable to take a few pictures of the vehicles involved in the accident. These might come in handy when proving your point during a claim. Simply use your smartphone to easily click and store the images. However, if you have been injured, it is best to seek medical help first and avoid standing on your own to take pictures. You could instead request someone else to help you click an image or two, if possible.
2. File the FIR
Filing an FIR is a mandatory step in the event of a major accident or theft of a vehicle. An FIR is especially needed when a road mishap has caused loss of life or serious injuries to either party. If your car has suffered a minor scratch, you may skip this step and not file the FIR. Do be cautious and make a wise decision as to whether an FIR is required in a particular situation. You may contact your insurance agent to ask their opinion.
3. Inform your insurance company immediately
When buying a third party car insurance, always make sure to check the time-period for filing a claim after an incident has occurred. Some insurance companies necessitate that you file a claim as soon as 24 to 48 hours of the mishap occurring. Others offer you a broader margin and allow for a period of 7 days within which you can file a claim. To be on the safe side, always call up your insurance company as soon as the accident occurs.
4. Never hide facts
Hiding facts may result in your claim getting rejected. It is always best to state information truthfully to the best of your knowledge. At the same time, never exaggerate the story; remember that your insurance company does conduct an investigation of its own.
5.Inquire into documents required
When filing for the claim, do call up your insurance company and ask them for a list of the documents required. Make sure to note these down so that you do not miss out on any of them. Insurance companies usually require the registration certificate, driver’s license, insurance policy, and motor claim form. There may be other documents too that are required by your insurance company, as per their systems.
Do remember to follow these tips when filing your car insurance claim. Going about things correctly will prevent the chances of your claim getting rejected. Finally, never agree to settle with the third-party outside of your insurance company’s knowledge. This is illegal. An FIR will help you get the insurance cover you are entitled to.