Motor Insurance

Damaged cars because of rains can be very frustrating. On top of that, the expenses incurred on its repairs may also burn a hole in your pocket. But as long as you have a valid and right insurance policy, you can save yourself a considerable amount. But how to go about with making insurance claim may bother you. So here, we have attempted to give you a step by step guidance to file for your car insurance claim. Find the steps below.

Given the number of accidents that take place every year, making a car insurance claim has become very frequent. So here are our top car insurance claim advices that you should adhere to, to make sure that your claim does not get rejected.

In the event of an accident, knowing how to submit an insurance claim is the most essential thing. If your vehicle has been damaged in an accident, you must immediately notify your insurance company and the police. On being informed, the insurance company will send a surveyor to assess the loss.

Motor insurance is an outright need for any individual who drives a vehicle and the fact that in India, Third Party motor insurance are even mandated by law. Motor insurance generally the covers vehicle owner against damages and liabilities arising out of accidents, thefts and also protects the general public from any accident that might take place on the road. It is a contract between you and the insurance company wherein you pay a premium for a policy that will provide protection against every comprehensible risk related to your vehicle; damage, theft, death and injury in an accident, plus liability protection in case you are sued as a result of an accident (Third Party Liability).

There are 2 types of Motor Insurance Policies available: 

Own Damage Cover is an extensive policy which offers the insured against loss or damage to the vehicle insured along with a third party cover for the below given perils:-The following perils are covered under a comprehensive policy.

IDV or Insured Declared Value is the Maximum Sum Assured of your vehicle which is agreed by the Insurer and paid in the event of Accidental Damage, theft or total loss of the vehicle. IDV is basically the Current Market Value of the Vehicle. It is the Maximum amount of coverage that the insured can claim during the year in the event of Total Loss or Constructive Total Loss, Accidental Damage or theft. 

The Premium rating is based on the following factors: