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A Guide on How to Claim A Car Insurance Policy During Floods

Monsoons have been a menace for most of the car owners. Driving on the wet roads in stormy weather can lead to fatal accidents and mishaps. Additionally, the potholes on the road can also damage the car’s suspension. People who live in waterlogged and low-lying areas are at risk of damage. The damage caused by water entering the car engine is irreversible and costly when given at the service centre for repair. It is best to remain prepared for the worst situations.

Hence, companies have introduced comprehensive car insurance for all policyholders to help them overcome their monetary losses faced for various reasons like accidents, theft, natural disasters, fire, and so on. It looks to cover all these expenses. The premium amount of the insurance depends upon the Insured Declared Value (IDV) of the four-wheelers. The insurance can cover the owner as well as the car from financial obligations arising because of road accidents, physical damage, etc. According to Indian law, all car owners must purchase the vehicle along with the insurance cover.

There are two types of policies for four-wheelers that owners can select. In India, cars must have a third-party car insurance policy as it is mandatory according to the Motor Vehicle Act of 1988. Following are the kinds of systems for four-wheelers in India:

  1. Third-party liability cover: It offers protection against any legal liability to a third party when the cause of a mishap is the driver or car owner. The Motor Vehicles Act made it compulsory for all vehicle owners to have this insurance policy.
  2. Comprehensive cover: It is all-inclusive insurance that offers coverage for third party liability along with damages caused to the car. It gives an immense range, consists of many advantages,and pays for damages caused to the vehicle that is insured. The insured can increase their comprehensive coverage by choosing add-ons like engine protector, accessories cover, NCB Protector, etc.

Following are the steps to claim insurance during natural disasters such as floods and other calamities:

  • The policyholder should contact the insurance company using their phone or email ID.
  • They must provide all the necessary information accurately to the insurance company crew. Mention details like the location where they parked the four-wheeler, whether it broke down while it was functioning or report any other issues.
  • The complainant gets the Claim Registration Number. Keep it carefully for further interactions and follow-ups with the insurance company.
  • The insurance company will plan a pick-up time and tow the car.
  • A surveyor will examine the total damage done to the car. After consulting the garage team, the insurance company will calculate the estimate of repairing the vehicle. It will include how much they can pay and how much the owner will bear. Ensure the approval of the claim follows the guidelines of the coverage offered by the car policy. Contact the surveyor and sort any issues.
  • The garage service team or the surveyor will offer the online car insurance approval sheet. Fill it to file the claim. Ask the garage staff the approximate time they will take to repair the car. Take regular updates on the progress.
  • Check the repair work completed and tick it on the checklist. Make the payment only after inspecting the car and signing the final documents. Get the claim settlement amount credited to the bank account.

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