Guide to file own damage insurance claim
No matter how seasoned you are as a driver, a mishap can happen anytime. What follows next is the back-and-forth process of making an insurance claim. You must know how to claim the damages against your car insurance policy.
In this blog, we deal with the entire process of filing a claim for damage to your own vehicle.
What is Own Damage Insurance?
Own damage insurance refers to any damages incurred in case of accident, theft or loss of the vehicle. When you avail a own damage insurance policy, you ensure that the vehicle is protected from such damages.An example of ‘own damage’ is when you bump your car into a tree while driving or when a cricket ball shatters your car’s windshield. Basically, any damage sustained by the vehicle because of an accident, or theft is considered as ‘own damage’.
How to claim car insurance – step-by-step guide
When claiming your own damage insurance, it's crucial to follow the entire process without any mistakes. This will help ensure that the insurer does not reject your claim. Let’s take a look at the steps in detail:Step 1: You need to inform the insurer within a specific time frame of any damage to your vehicle. The time frame varies across insurance companies, but ideally ranges between 1-2 days..
Step 2: You must file an FIR, especially if a third party was involved in the accident. You may need to provide details of the other vehicle and its owner.
Step 3: For smooth processing of the insurance claim, submit authentic details and proofs like necessary documents and pictures of the sustained damages to the vehicle.
Step 4: Once you file the claim, a surveyor will be assigned to inspect the damages and verify your claim. You need to cooperate and provide answers to the questions.
What are the documents required for an insurance claim?
When it comes to filing an insurance claim, the documents needed to be submitted varies across insurance companies. However, there are some documents that every insurance claim needs. Here is a list of them:- Copy of the car insurance policy
- Copy of the FIR, if filed
- Duly filled insurance claim form
- Bills for the repairs (in case not done in a network garage)
- Medical bill in case of treatment received for bodily injuries
- Copy of your vehicle registration certificate
- Photograph of the license plate of the other vehicle, if applicable.
- Copy of the driving license. The other driver's license is also needed if it was an accident.
- Bills of any additional cost incurred.
If you ever need to file an own damage insurance claim, thoroughly examine your vehicle for every possible damage. Several factors can affect the success of your claim, so be aware of them. The age of your vehicle, your No Claim Bonus (NCB), and the engine capacity of your vehicle are a few of them. It would always be better if you knew the details of your car insurance policy when it comes to managing the cost incurred for repairs.
Disclaimer - This article is for information purposes only and should not be considered investment advice. Please consult your financial advisor and/or carry out your own research on any of your planned investments.
Download the Wealthy Appto enjoy efficient Trading and Investing!
Welcome to Wealthy
OR
Curated Investing
Completely Digitalised
Bank Grade Security
Help Centers
.png)
Download Wealthy Partner App
.png)
Apple Store
Play Store4.6 Rating•100k + Downloads
Latest Blogs
SBI Funds Management IPO: Price Band, Lot Size, Timeline and FinancialsKusumgar IPO: Issue Details, Timeline, Business and FinancialsAdvit Jewels IPO: Price Band, Lot Size, Timeline, and DetailsTurtlemint Fintech Solutions IPO: Price Band, Lot Size, Timeline, and DetailsClay Craft India IPO: Price Band, Lot Size, Timeline, and Key Details
FAQs
What kind of damages are not covered in ‘own damage’ insurance policy?
If the vehicle is damaged because of reasons like drunk driving, driving without a license, consequential damage, and contributory negligence, it won’t be covered under the ‘own damage’ insurance policy. This is in addition to the exclusions mentioned in the policy document.
What are the two types of insurance claims I can file for ‘own damage’?
You can either file a cashless or reimbursement claim. For a cashless claim, you must get your car repaired at one of the garages listed with your insurer. While for reimbursement, you can get the vehicle repaired at a garage of your choice and get it settled from the insurer.
I already have a comprehensive insurance policy. Should I still get an ‘own damage’ insurance policy?
If you have comprehensive insurance, you don’t need to buy an ‘own damage’ policy separately.
