Steps to follow to claim your Auto-insurance policy

Buying a car is a dream for many people, especially youngsters. But due to the increase in road accidents, we have to be very careful about our driving and we must follow the road safety rules to avoid accidents and injuries. Also, you and your car must be covered under the right car insurance policy to reduce unexpected financial loss. Let us discuss the importance of taking an auto insurance policy and the major coverages that must be included in your auto insurance policy.

Importance of Auto insurance policy

A car or Auto insurance policy is important because:

1. A vehicle is expensive

All vehicles, especially cars, are valuable property of many and are not cheap. So, the right insurance policy will help you to repair the destruction caused by the accident. If unfortunately your car is stolen, you can claim compensation under your policy.

2. Reduces your liability when you cause the accident

In countries, where the number of road accidents is very high, automobile liability insurance is required by law. This policy protects you from paying yourself in the event of an accident and property damage to a third party.

3. It also protects you

Auto insurance also provides owners and drivers with personal accident protection. This is useful if you are seriously injured in an accident.

4. Allows you to drive peacefully

Knowing that your car is insured, you can drive with confidence without constant fear of incurring large costs in the event of damage to your car.

Different coverages to be included in your Car insurance policy

You have to include the important coverages for getting the maximum benefit from your car insurance policy. The coverages include:

1. Liability Coverage

This is compulsory insurance based on automobile law. This covers injury, death, or damage to the property of a third party.

2. Private Car Damages: Private Damages (OD) Auto insurance covers vehicle damages due to accidents such as fire or theft. In the event of an accident, the self-damage cover will cover repair costs or replace parts of your car that have been damaged by the accident. Your non-life insurance covers fire explosions, riots, and strikes, earthquakes (damage from fire and shock), floods, unintended external influences, malicious acts, during transportation by road, rail, air, water, or elevator. Covers damage caused by terrorist activity and landslides. It is also insured against robbery and theft.

However, insurance does not apply

Damage to third-party vehicles

Damage to third-party property

Personal injury due to accident

Normal damage

Mechanical and electrical failure

Unused vehicle intent As you did.

2. Liability Insurance

Liability insurance is required by law under the Automobile Act, and driving a private car in a public place without liability insurance is a criminal offense.

There are two types of liability insurance. Primary insurance for third parties, such as physical harm/death/disability, covers the costs of the insured's vehicle accident. These injury costs may include hospital treatment, loss of wages, pain, and accidental distress. Second, property liability covers costs resulting from property damage or property loss of the insured's vehicle.

How to claim your Auto insurance

Insurance claim for car damage

In addition to the required documents, you need to submit an invoice to the insurance company. You must do this before sending your car for repair.

The company appoints an appraiser to assess damage to your vehicle. Based on their knowledge, they prepare a report and submit it to the insurance company.

In the event of serious damage, the surveyor can be present at the scene of the accident as soon as possible.

Experts report that you have to arrange for car repairs.

Once the repair work is complete, the properly signed invoices and documents must be obtained from the workshop, handed over to a specialist, and transferred to the insurance company for further processing.

If all goes well, the insurance company will refund the invoice.

Billing Process in the Event of an Insurance Accident

If a claim report is sent by a third party, you must first notify the insurance company before contacting the insurance company. Do not make financial promises or reconciliations before consulting your insurance company for the first time.

Provide the insurance company with a copy of the notice. Please submit a copy of your car driver's license, FIR, RC book.

The insurance company will review the documents and appoint a lawyer if necessary.

If the court orders the payment of damages caused to a third party, the company will pay the fee directly to the third party making the claim.

Claim processing in case of vehicle theft

First of all, you need to submit an FIR and report it to the police. Also, please submit a copy of the FIR to your insurance company.

Submit the final police report to the insurance company.

Your insurance company will ask investigators to handle the case and you must work with them. Once the claim is approved, you will need to present the stolen vehicle RC book to the insurance company. After that, the name of the owner of the RC book will be changed to the name of the insurance company. Please give the copy key and transfer letter of the car. The insurance company clarifies the claim.