Sometimes the process of how to claim car insurance procedure can be a difficult ordeal. The same cannot be stated regarding damage to vehicles, as opposed to life, health, or home insurance, where the proof of a crisis or damage to the property as a result of a natural disaster has self-explanatory evidence.
For instance, the driver of a car or bike engaged in an accident may refuse to accept responsibility or assign blame to the other person. Confusion is still potential as a result. Negotiating a fair claim settlement amount may therefore prove to be a crucial step in the process. Car insurance claims can be more complicated than other types of insurance claims due to the complexity of determining fault and the potential for disputes over the amount of damage. It is essential to have a clear understanding of your policy. *
Recognise your policy
Knowing all you can provide in your settlement application is essential for reducing such uncertainty and its effects. To do that, carefully study the policy summary and make a note of the insurance coverage’s provisions and exclusions.
Inclusions
There are several items in every car insurance policy. Ensure that you are conscious of them. Your claim will only be processed, accepted, and moved forward if the basis for what is covered in car insurance by the inclusions. Third-party liabilities, complete loss or damage to the car or bike as a result of a natural disaster, a person’s accident, etc., are all covered by comprehensive vehicle insurance. *
Exclusions
Exclusions are the circumstances or events that the insurance coverage does not cover. Your claim will be turned down if you make one for an issue that the policy does not cover. Often, online car insurance does not cover situations like drunk driving, driving without a licence, having an expired policy, or damage from normal wear and tear. *
Strategies for a quick and easy claim settlement
The following advice will help you ensure that you have a thorough understanding of the variables that influence the settlement of your car claim.
Keep records
Try to keep a chronological record of all small and significant incidents or brush-offs your car has been involved in. The record should include any relevant medical bills, police reports, and other paperwork.
Comprehensive demand letter
Write down all the factors you considered and how you arrived at the amount you are seeking when you make a claim in your application for the same. *
Check claim settlement ratio
The claim settlement ratio of insurance firms is one of the key determinants of their trustworthiness (CSR). Your claim has a better probability of being settled amicably the higher the claim settlement ratio. Check the IRDA Claim Settlement Ratio 2022 list before you purchase insurance. * #
Simple settlement procedure
The claim procedure needs to be simple. You don’t want to go through a tiresome and drawn-out process while settling a claim. To learn more about how the insurance company handles claims, you can speak with them directly. *
It is essential to be aware of all the claim settlements on your online car insurance policy to ensure that you receive fair compensation in case of any unforeseen incidents. You can start by carefully reviewing your policy documents to understand the terms and conditions of your coverage. Additionally, keep track of your claim history and any correspondence with your insurer to ensure that you have a record of all settlements. If you have any queries about the claim settlement process, do not hesitate to contact your insurer and seek clarification. By being informed and proactive, you can ensure that you receive the full benefits of your car insurance coverage and have peace of mind on the road.
* Standard T&C Apply
# Visit the official website of IRDAI for further details.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
