Car insurance is every automobile owner’s must-have. It covers the cost of repairs, replacement and other expenses in case of an accident. In India, the car insurance law requires you to claim on your policy within 30 days of an accident.
Most people don’t know how to go about filing a claim with their insurer and end up paying more than they should have. Claiming on your policy can help you save money and get a better rate for your next policy renewal. So, before filing a claim, it is important to understand what it entails and what factors affect the process.
The most important thing to remember when claiming on your car insurance policy is that there are certain rules that need to be followed for claims processing purpose. These rules are set by insurers themselves.
There are a few instances where you might want to consider claiming on your car insurance in India. These include:
- When the other party is at fault and the collision was their fault;
- When the other party has a low liability limit;
- When you have high deductible coverage;
- If someone hits your parked vehicle.
How Can I Check My Car Insurance Claims History?
To check your car insurance claims history in India, follow these steps:
- Contact Your Insurance Provider
- Request a Claims History Report
- Provide Necessary Information
- Receive the Report
- Review the Report
Remember that different insurance companies may have slightly varying procedures for accessing your claims history, but contacting your insurer is the first and most important step in obtaining this information.
Will My Car Insurance Cover A Rental Car?
In India, whether your car insurance covers a rental car depends on your specific policy. Many car insurance policies offer an optional add-on called "Rental Car Coverage," which, if selected, can extend your coverage to rental vehicles. However, it's crucial to review your policy documents or contact your insurance provider to confirm the extent of coverage for rental cars. Keep in mind that there may be restrictions and conditions, such as the type of rental vehicle and the duration of coverage.
Will My Car Insurance Cover Me in Another State?
Regarding car insurance coverage in another state, car insurance policies in India typically provide coverage across the country, so you are generally covered when driving your vehicle in another state. However, it's crucial to review your policy terms and conditions to ensure you are aware of any specific requirements or limitations when driving in different states. Some policies may have conditions related to the duration of your stay in another state or may require prior notification to the insurance company, especially for long-term relocations. It's wise to verify your coverage with your insurer and understand any regional variations or additional endorsements that might be necessary when driving in other states.
Will My Car Insurance Increase After Claim?
In India, whether your car insurance will increase after making a claim depends on several factors. Generally, filing a claim may lead to an increase in your premium during policy renewal, as insurance companies consider you to be a higher risk. The extent of the increase often depends on the severity of the claim and your claim history. If it's a minor claim, the increase might be modest, but for major claims, the premium increase can be substantial. It's essential to check with your insurance provider for specific details regarding premium adjustments after making a claim and explore options for maintaining or reducing your insurance costs.
Why Is My Car Insurance Renewal So Expensive?
A car insurance renewal might be more expensive if you have added new coverage options or if the insurer has increased its rates. Additionally, factors like the vehicle's age and depreciation can also affect the renewal premium. Comparing quotes from multiple insurers can help you find a more competitive renewal price.