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Car Insurance Claim Process – A Step By Step Guide

By Finserv MARKETS - Jul 27,2019
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Car Insurance Claim Process.

We buy car insurance for financial protection in from loss/damage to our vehicle or loss /damage caused by our vehicle, in case of an accident. Just like life insurance, we pray that perhaps we may never have to claim your car policy. But life on the road is unpredictable, and no matter how safe you may drive, many drive irresponsibly.

‘How to claim insurance for car?’ is a question every policyholder has. Today, an insurance claim process is not that tedious and lengthy as it used to be earlier. If you are careful about a few important things – whether it’s a cashless claim or reimbursement of claims – the process can be really smooth and fast. Nowadays, you can file a claim online easily from the comfort of your home.

In this article, Finserv MARKETS provides a step by step by guide on the car insurance claim process. Let’s start by understanding the types of car insurance claims:

Types of Car Insurance Claims

Car insurance claims can be widely classified into two types:

  1. Third-party claims
  2. Own damage claims

Again these claims could be cashless claims and reimbursed claims. Though most people prefer cashless claims, you may not always end up in the insurer’s network garage after an accident. That is when reimbursement claims come to the rescue.

Steps on How to Claim Car Insurance Online

As soon as you meet with an accident or your four-wheeler is damaged or stolen, you can go to the insurer’s website and register a claim. You can also call the company’s helpline, which is usually a toll-free number, and a customer support executive can guide you through the entire process.

For instance, if you avail a car insurance policy from Finserv MARKETS, the claim procedure is as easy as it gets.

Step 1: First, you can visit the claim page and click on the link to register the claim.

Step 2: Go to Car Insurance Claim process page

Step 3: Click the ‘CLICK HERE TO REGISTER CLAIM’ Button on the same page.

Step 4: Once you click the above button, you will be taken to another page where you need to select a task. In your case, you will select ‘Claim Registration.’

Step 5: Once you select ‘Claim Registration,’ you will be asked to enter the policy number or cover note number, vehicle registration number, and date of loss or damage.

After you fill in the above details, you will be taken to another page where you will have to upload the documents required for registering the claim. We have created a straightforward, fast, and seamless process of filing a motor insurance claim at Finserv MARKETS. You don’t have to worry at all on how to claim car insurance online.

Documents Required To Register a Claim

Before you register a claim, you need to keep the following documents or information ready so that there are no hiccups during the process:

  • Engine and chassis number
  • Accident date and time
  • Description and location of the accident
  • Address for inspection of the vehicle
  • Odometer reading
  • Police complain in case of vehicle theft

Taking Your Vehicle to a Network Garage

  • As soon as your car is damaged or vandalized, you can take your car to the nearest network garage if it can be driven, or get it towed there to avoid additional damage.
  • Once you are at the garage, you can submit the copies of the documents to the garage and get them verified.
  • A surveyor will inspect the damage of your vehicle and determine a settlement amount.
  • Once the surveyor has checked the damage, the network garage will give you an estimate of the repairs for your approval.
  • Upon approval, they will go ahead with the repairs.
  • The garage will receive the sanctioned amount from the insurer once the repair is completed.
  • You may have to pay a nominal amount of the repairs, as mentioned in the terms and conditions of the policy document.

Sometimes claim settlement for a small repair in your car can take a long time, and you may think of paying out of pocket rather than registering a claim. To solve this problem, Bajaj Allianz car insurance came up with an innovative solution called Motor OTS wallet, which stands for Motor On-the-Spot.

The Motor OTS is a mobile app for those with a Bajaj Allianz car insurance policy, which allows you to settle your claims up to INR 20,000 within a matter of minutes. You need to use the app to file claims and upload pictures of the damage to your vehicle, once approved; you will receive the claim amount directly into your bank account.

Over To You!

Even though you know how to file a claim, remember that if it is a small expense, it is better to pay for it yourself so you can avail your no claim bonus during renewal.

Filing a car insurance claim online saves a lot of time and effort, and it is in the best interests of both the insured and the insurer. However, before you file a claim online, keep all the information and documents handy, and ensure that there are no typos or errors in filing to avoid claim delay or rejection.

If you find yourself in an unforeseen situation and need to file a claim on your policy, you can rely on us to get car roadside assistance in India at any time.

You can browse through our different car plans and choose a policy that best suits your needs. With Bajaj Allianz Car Insurance at Finserv MARKETS, you can benefit from features like 24×7 assistance, cash-free servicing, quick online renewals, swift claim settlements, and more.

So, don’t wait! Get your car insured with us right away.

To know more on Car Insurance and related topics in depth, you can check out these blogs:

Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we works towards fulfilling all your personal and financial needs . What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522