A claim under a motor insurance policy can be classified as:
- Own damage claim: If there is damage to your car, the claim is called as an own damage claim.
- Third party claim: If there is an injury or worse to someone else or damage to someone else’s car, it is called as a third party claim.
- Theft claim: If your insured vehicle is stolen, then the claim is called a theft claim.
Depending on nature of the claim, the process & documents needed to file the claim may vary. Let’s understand the process in details under all the 3 categories.
Own Damage Claim: In the event of damage to your car by an insured peril (Fire, Accident, Riot etc.)
- First of all, intimate the insurance company as soon as possible at the given toll free customer care number.
- Check with the insurance company to see if an FIR is needed. Then, call the police & report an FIR.
- Once the insurer’s representative inspects & evaluates the damage to your car, the car can be towed to the nearest garage. (Don’t tow your car without approval & direction of the insurance company).
- After survey & scrutiny of the claim-made is done, the insurer will send the approval on estimated repair cost to you & to the garage. If the garage is under cashless network, you can simply pay the normal excess and take the vehicle home after repair, otherwise keep all the bills & invoices ready to get approved repair costs reimbursed later by the insurance company.
Third Party Claim: In the event of personal injury/property damage to some third party.
- Check with the insurance company then report an FIR at nearest police station & keep the copy of the FIR with you.
- Share the policy copy/policy details with the third party.
- Third party claim are settled under Motor Accident Claims Tribunal as per motor vehicle act 1988. The third party has to file the claim with the tribunal.
- Death & Disablement compensation of third party is not limited. (It is decided by many factors such as age, dependents, earning capability etc.).
- Property damage compensation of third party is limited to INR 7.5 Lakhs. Over & above this amount to be settled if at all, it will be borne by the car owner.
Theft claim: In the event when an insured vehicle is stolen
- Intimate the Insurance Company.
- Report an FIR at the nearest police station.
- Submit the claim form along with FIR Copy, Registration copy, Driving license copy, policy copy and a letter to RTO.
- Get a ‘Non traceable report’ issued by police department if the car is not traced within 6 months from the FIR.
- Transfer the RC of stolen car in name of Insurance Company.