Car Insurance Claim Process- A Step-By-Step Guide For Claims

With the ever-growing sales of new cars, car insurance policies have become among the top-selling insurance products, and consequently, claims have also increased. However, many policyholders often struggle with the car insurance claim process and sometimes even face claim rejections. To help you navigate, here is a step-by-step guide for a hassle-free car insurance claim experience.

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How to Claim Insurance For Car Damage?

Here is a step-by-step guide to raise a car insurance claim under your comprehensive insurance if your car has met with an unforeseen accident:

• Intimate Your Insurance Company: First and foremost, inform your insurance company about the accident at the earliest. You must submit a duly filled & signed claim form and the requisite documents to your insurance company, take your car to the workshop, and get a repair estimate of the damaged vehicle. The forms are available on the insurers' websites as well as at their offices.
• Vehicle Inspection: The insurance company will send a surveyor to assess the damages. The surveyor will prepare a report and pass it on to the insurer, and you will also receive a copy. Based on the surveyor's report, your car will be sent to the network garage for repairs.
• Submit Documents: After the work is completed, you will have to give the surveyor the duly signed repair invoice payment receipt and other documents, who in turn will send them to the insurance company for the claim to be verified.
• Cashless Claim: If all the documents are in place, your car will get repaired in the insurer's network garage. The insurance company will then directly settle the claim via cashless claim settlement with the network garage.
• Reimbursement Claim: In case of a reimbursement claim, you can first make the payment to the garage from where you got your car repaired, and the repair amount will be reimbursed in your account based on the terms and conditions of the policy.

Remember that the insurance company will only reimburse you the claim amount if you submit the repair bills and invoices immediately after your car is released from the garage. So you cannot keep the small bills and hope to submit them at the end of the year.

Car Insurance Claim Process for a Third-Party Claim

The car insurance claim process in case of third-party insurance is slightly different. Follow these steps for a third-party claim:

• If a third party has sent you a legal notice seeking a claim, do not contact the party before informing your insurance company. Also, remember not to make any financial commitments or out-of-court settlements before speaking to your insurer first.
• Submit a copy of the notice to your insurer.
• You will also have to submit copies of the RC book of the car, the driving licence and the FIR.
• The insurer will verify the documents and assess the accident. If found satisfactory, you will get a lawyer appointed by them.
• If the Motor Accident Claims Tribunal directs you to pay the damages to the third party thereafter, the insurance company will directly pay the dues to the third party. The claim amount under a third party claim is dependent on the age, profession and income of the third party.

Car Insurance Claim Process for a Stolen Car

If your car has been stolen, here is how you can file a claim for theft of your car:

• First, file a Police FIR.
• Submit a copy of the FIR to your insurer.
• Upon receiving the final police report, make a copy of it and submit it to your insurer.
• The insurance company will assign a surveyor for further claim-related investigation. Cooperate with the investigator.
• Wait for the claim to be approved.
• Once the claim has been approved, submit the RC of your stolen car to your insurer. The owner's name will then be changed to the insurer's name.
• Submit your duplicate car keys, a subrogation letter, and a notarised indemnity on stamp paper to the insurer.
• Upon the completion of all formalities, the insurance company will process your claim, which will be equal to your car's IDV (Insured Declared Value).
• In case you have purchased the Return to Invoice cover, you will get the invoice price of the vehicle.

It is very important to be well-informed about the formalities related to making a car insurance claim. Whether you need to make a small claim due to a minor accident or a major claim due to the theft of your car, knowing the procedures will make the job a lot simpler for you. Moreover, it is always advised to do thorough research about the car insurance claim settlement ratio of a particular insurer before making a final purchase.

How to Claim Car Insurance From Policybazaar?

Policybazaar only provides claim assistance, though the insurer settles the claim. To file a Policybazaar car insurance claim, contact their claim assistance team at 1800-258-5881. They will guide you through the entire procedure, provide you with your insurer's contact information, help you understand the required documents, and escalate any delays or issues you might face during the car insurance claim process.

Wrapping Up!

All insurance providers have a strong customer support network, so you can communicate with your insurer whenever needed. You must address any claim-related questions beforehand to ensure a smooth car insurance claim process. The tips mentioned above will help you file a third-party or comprehensive car insurance claim seamlessly.