Consider a Few Circumstances Before Filing a Car Insurance Claim
If you have a four wheeler or if you are planning to buy one, you would be aware that due to normal wear and tear you would have to bear the maintenance and operating costs. You would also have to be well-prepared to handle the situation if your vehicle gets damaged because of some unfortunate accident or mishap. The best way to handle such unseen expenses is by getting a good insurance cover for your vehicle. To make your insurance work to your advantage during any emergency, you should be aware of the procedure and the factors that can have an impact on your car insurance claim. This way, you can avail the maximum benefit of having a policy.
Though the process of filing claim is quite simple and straightforward, yet, it is important that it is done in a proper way, else it can become invalid. In fact, along with keeping the process in mind, it is also important that you are aware of the circumstances, when you should think twice before filing claim. When filing a claim, it is important to know the claim process of your insurance company, the documents required while filing the claim and the information required to register the claim. Giving out correct information would ensure quick claim settlement for you.
The other important consideration is the estimation of the damages and verifying the costs that are covered within the policy. You could get such details from the surveyor hired by the insurance company for surveying the claim. Once you know the costs involved and the coverage, decide if you really need to make a car insurance claim. If the smash up is big and can cost you enormous sum then go ahead and file the claim.
It is important to understand terms such as no claim bonus (NCB). Generally all the insurance companies offer no claim bonus policy to all those policyholders who have had successful claim free years. The bonus amount and the terms and conditions vary from a company to company, but most of these have the NCB clause. There is nothing like having no accident and a claim free year, but sometimes mishaps happen and you need a policy to cover it. However, there are also times, when, even after a mishap, you can save your NCB. Keep in mind that in certain instances, if you make aver, premium may go up when it is time for your renewal, albeit the discount is protected. This is for the reason that authentic declare history is part of the details an insurance company will use to work out and estimate new premium.
In such instances, it is advisable that you work out the reduction you are entitled to receive if you hold a claim free year. If the reduction exceeds the deductible amount you need to pay, it is worthwhile that you shell out the bills out of your own pocket and maintain a claim free year to avail the discounts in future renewals. But, if the repair cost is high, then, make a claim!
The next circumstances are of ‘voluntary excess’. It is a definite sum of money an insured, which, is you, choose to bear if there is an accident and the rest is insured under the policy. Sometimes the cost of harm caused in an accident is small and is even not more than the surplus amount you have volunteered to pay. In such scenarios, it is not wise to declare as it is equal to the excess sum you have to pay.
For more information visit: Car Insurance Claim and Accident Insurance.
