While choosing car insurance online, it is very important to take a close look at the Claim Settlement Ratio (CSR) of the insurance companies in the reckoning. CSR is the ratio of the total number of successful claims towards customers to the total number of claims received by a given car insurance company. This ratio is expressed as a percentage amount. The balance claims that stand rejected for impersonation, pending decisions, misrepresentation, fraud, or other unwarranted acts do not fetch any sum assured to the person filing the claim or the policyholder.
This article addresses significant reasons for filing car insurance claims online and the important factors that need to be considered for ensuring their success.
Reasons to Claim Car Insurance Online
Most car insurance online companies in India make it possible for you to file claims digitally. One of the biggest advantages of doing the same is that you get to avoid the frustrating situations of making contact with the insurance company immediately after the accident, or in due course. Apart from bypassing numerous communication hurdles coming in the way of offline claim processing, you can also put several stressful situations on hold and get the sum assured in the smoothest and quickest of ways.
Factors Involved in Claiming Car Insurance Online
As the smallest of mistakes can lead to your car insurance online getting rejected, it is important to take care of the factors mentioned below to get the deserving amount.
1. Keep a Valid License
Do you have a fake, expired, or invalid license in your possession? Or, is your license valid for an absolutely different vehicle category? If yes, then there is a strong probability of claim rejection after filing. Remember, along with having a valid car insurance with you while driving on Indian roads, it is equally important to have a genuine driving license to become eligible for any compensation claim.
2. Is your Second-Hand Car Insured?
In case you are the owner of a pre-owned car, and the car insurance has not yet been transferred to your name, then the policy would be considered null for the purposes of releasing claims. Given this, it is important that you get in touch with your insurance company at the earliest and have the necessary transfer done to avoid claim rejection.
3. Delays in Informing the Insurance Provider
Regardless of the issue with your car; whether it has met with an accident or been stolen, it is essential to inform your car insurance online company at the earliest, preferably within the stipulated time frame. In case you do not do the needful within 48-72 hours, the car insurance claim filed by you may stand rejected for reasons of avoidable delays.
4. Drunk Driving?
An important factor to consider before claiming for car insurance online is whether you were under the influence of drugs and/ or alcohol at the time of the accident. Drunk driving or intoxication being a big exclusion, your car insurance claim can prove to be unsuccessful if you are found guilty of the same.
5. Consequential Damages
If you have been careless with your car such as having cranked the engine while it was in a water-logged condition, or left it unattended when it shouldn’t have been, you can expect your car insurance online claim to get rejected. Be careful!
6. How Old is the Car?
Another important factor of consideration for successful car insurance claims is linked to the age of your car. In case the insurance company believes that the repair costs of your car after the accident are higher than the depreciated value of the same, you will not be paid anything. So, it is important to ascertain the condition and age of your vehicle, along with taking a repair estimate from any local garage, before filing the claim.
7. Car Repairing Without the Insurance Company’s Knowledge
A very crucial factor for successful car insurance online claim filing is for it to be in the same condition as it was at the time of the accident when the surveyors arrive. As the insurance company would require an estimation of the approximate repair costs before considering your claim, it is well-advised that you abstain from having the car repaired earlier on to avoid any hassles in future.
Coverfox.com and other related sites can help you understand the entire process of claim filing better. Do log in at the earliest to receive the due compensation without facing any hassles.