Insurance as a concept stemmed from the dire need for individuals to have a safety net to fall back on when things go haywire. No matter how well prepared we might be, times of distress can knock the carpet from under our feet and leave us scrambling for sanity.
Even when there is a specific sum of money being paid by policyholders towards their insurance policies, no one amongst us would wish for a scenario where something unfortunate befalls us.
According to the National Crime Records Bureau (NCRB), the accidents that occur due to the violation of traffic rules are seeing a steady increase in recent years. And it goes without saying that these occurrences have also increased the frequency of insurance claims.
It is better to be safe than sorry, and information is key in any given circumstance. In this article, you will learn how to claim car insurance for your insurer in the event of an accident or theft that lends damage of some kind to your four-wheeler.
Step 1: Inform your insurer
Most of us see our four-wheelers as our prized possessions thus, any kind of damage to our moving asset can cause paramount stress in us. But once the initial storm of the event settles down, it is important to act swiftly and initiate the process of a claim settlement. The first step in this process would be too intimate your insurer.
Most insurance companies have a specific timeline that we need to adhere to. Ex: Some companies expect an intimation within a period of 10 days from the day of the accident. With Chola MS car insurance, each policyholder is assigned a dedicated relationship manager. This person will act as an immediate point of contact for the client to reach out to in case of an emergency.
Step 2: Click pictures for proof
During claim settlements, the insurance organisation would conduct their own inspections with the documents submitted by the policyholder. Thus, it is imperative on behalf of the policyholder to collect as much evidence as possible. As and when applicable, please ensure to collect pictorial evidence of the accident right from the place, the damages incurred and also third parties, if any. This is crucial to ensure a seamless and hassle-free claim settlement. One can also take a written state from the witnesses present at the time of the accident.
Step 3: File an FIR
The second and most important step in this ‘How to claim car insurance’ listicle would be to file a First Information Report (FIR) with the nearest police station. Once the FIR is filed, the police will conduct an inspection at the site of the accident. They will further furnish a report on the accident that will be needed at the time of the claim settlement. However, this step can be skipped entirely if a policyholder is making claims for scratches and dents on his car.
Step 4: Submit all the relevant documents to your insurer
Once the necessary information has been collated, the process of the claim settlement can be initiated by submitting the necessary documents. The insurer would require the policyholder’s:
- Insurance policy document
- Driver’s licence
- A copy of the FIR filed with the nearby police station
- A copy of the registration certificate of the car
The insurer would then proceed to send you the necessary documents, which should be filled and submitted along with the requested proof documents.
Step 5: Initiate the inspection process
Once the documents are submitted, the insurance company will start to process the claim requests. The submitted documents will be checked for authenticity, and also, the insurance company will appoint a surveyor to inspect the damage to the four-wheeler. If this is not initiated within the stipulated time period, the policyholder can request this from the insurance company.
Step 6: Send the two-wheeler for repairs
Once the required documents are sent to the insurer, the policyholder can commence the process of getting the four-wheeler repaired. This also helps the insurer to ascertain the cost of the damage incurred. The insurer will then proceed to process the claim settlements. Claim settlements in car insurance are carried out under two categories:
- Cashless claims
- Reimbursement claims
Under cashless claims, the insurer pays for the repair charges of the car to the prescribed dealer directly. This reduces the transactional and other associated charges related to the claim.
Under reimbursement claims, the insurer undertakes to reimburse the charges paid by the policyholder. Here the policyholder would be required to furnish bills of repairs from the insurer-approved repair dealers.
On the whole, hope this guide on the ‘How to claim car insurance’ process is fairly straightforward and makes things easy for you to understand. Chola MS car insurance policies are known for their effortless and seamless claim settlements. With the integration of advanced technologies, our organisation has some effective mechanisms in place that helps us detect and process claim settlements within a limited period of time. After all, the insurer is your safety net here to secure you against damages that may arise out of an unfortunate circumstance.