Let us tell you what you need to know about car insurance.
Choosing an insurance policy
The following three points must be considered for an insurance policy
Duration of coverage (usually one year)
breadth of coverage; There are two types of insurance that are commonly used, the first is comprehensive insurance (which protects your vehicle against damage as well as theft and vandalism) and the second is third party insurance (which covers accidents). Covers damage to another vehicle in case of).
The amount of insurance premium (annual fee) is usually 3 to 4.5 percent of the value of the vehicle. The premium may also vary according to the 'deductible' amount, ie the amount you will have to pay in the event of an accident. For example, if your deductible is Rs 10,000 and total loss is Rs 30,000, then you will have to pay Rs 10,000 yourself, while the remaining amount will be paid by the insurance company. The higher the amount you pay, the lower the premium.
Filing a claim
1) If you have met with an accident or your car has been stolen, call the police, file an FIR and approach your insurance company to file your claim.
2) If your vehicle is damaged, the company will appoint a surveyor to assess the vehicle, who will then provide the insurance company with information on the repair costs. In some cases, the vehicle owner has to pay a certain percentage of this amount.
3) In case of theft the company appoints a surveyor who decides the legality of the claim (surveyor will also get cooperation from the police). After the verification is completed, the company starts the claim process and pays the amount.
0 Comments