Why You Should Be Proactive about filing Motor Insurance Claims

In India, all motor vehicle owners got to have insurances for their vehicles, to ply them legally on public roads. There are numerous advantages of owning one such insurance too. First and the most important benefit is the financial protection, which it provides to you against unexpected yet probable losses.

Where a third party liability motor insurance takes care of expenses related to third party claims resulting from accidental injuries, death or loss of property, a comprehensive motor insurance will give you an all-round coverage against personal accident, own damage (loss of or damage to vehicle) and third party liability.

However when it comes to making claims under their motor insurance policies, people tend to make various mistakes. One of the major mistakes that policyholders make with respects to claims is delays. What people need to understand is that it is mistakes such as these that they can keep them from receiving any benefit.

Hence to guide you in the right direction, here is a take on making motor insurance policy claims on time and why it is important.

Procedure to Making a Claim under a Motor Insurance Policy in India

In order to keep people from making delayed claims under their motor insurance online or offline, we need to understand why these delays happen. Now, one of the obvious reasons behind this has to be insufficient knowledge of the claim processes.

In order to make a claim resulting from an accident or other causes under your motor insurance with your insurer, you need to follow certain protocols. The general procedure to making a policy claim involves –

  • Intimating your insurance company about a damage/loss right after it has occurred, followed by filling up and duly signing the claim form they will henceforth provide you with. The claim form contains an estimate of the damage or loss that has occurred.
  • Your insurance company will then require you to take your vehicle to the nearest network garage.
  • Here a surveyor from the insurance company will inspect the damage and assess the loss.
  • You need to submit the claim form and necessary documents to substantiate the nature of damage/loss.
  • These will be further inspected by the company
  • Once everything has verified and the company finds it all true to their knowledge, your claim will be approved.

In case of mishaps, accidents and third party claims, the verification procedures are more intense. You may have to file an FIR for the same. Facilities for on the spot inspections are also available for accident-related cases.

Why is making a timely claim under motor insurance important?

It is the start

Now there are various motor insurance companies in India, however, informing your insurance company that an incident has happened is always the first step to making a claim. It is only when you undertake the first step that the others can follow. Also, unless approved by the insurance company, you cannot get your vehicle repaired at a network garage.

Quick claim settlement

This has to be the one of the basic reasons as to why making a timely claim under your motor insurancepolicy is important. The sooner you report or file a claim, the sooner your insurance company can kick start the claim procedure. Again the more you delay it, the later you shall receive your claim amount.

Towing and related assistance

Another big reason as to why you need to practice making timely claims isbecause you then receive necessary help and guidance from your insurance company. For instance, if you were to meet with an accident while on road and make a point to intimate your insurer about it, a surveyor can come and make inspection of the damages at the earliest and on the spot too. They could also arrange for towing of the vehicle to the garage and save you some hassle.

Better chances of approval

Getting your vehicle repaired without waiting for an approval from the insurance company could jeopardize your chances of claim approval. Again if you were to self-handle the towing and repair work without informing your insurer at all, you stand to bear consequential loss. With timely intimation, you get to avoid such losses and also out-of-pocket expenses.

A motor insurance whether online or offline is a contract between you and your insurance company and as already mentioned there is a set protocol that you need to follow as per the policy terms. Filing a claim takes a simple phone call and it is in your best interest that you make it.