Car Insurance
Car insurance is mandatory now be it for commercial or personal use. Insurance Companies are coming out with comprehensive policies for its customers. They are also tying up with leading automobile manufacturers for a swift insurance process. An automobile may be insured against loss or damage by accident, fire, burglary, while in transit, third party accident etc.
Why do you need car policy?
In India road accidents is estimated to be three times as compared to other developed countries. Car Insurance serves as protection for the car owner against financial losses, caused by damage or theft of the vehicle.
There are two types of car insurance:
Third Party only
Comprehensive or Package policy
Car Insurance Claim Procedure:
Insured should write the number of the other vehicle in case of an accident or third party claim
Names of witness should also be written down
File an FIR with the nearest police station
Insured should then contact the insurance company and get a claim number
A surveyor is appointed who reports the approximate value of loss or damage
Based on the report of the surveyor, insurance companies try to send the amount to the insured within one to three weeks
An individual might have to pay the repair charges himself and later get it reimburse
Documents Required for Car Insurance Claim:
For Accident Claims
Claim form duly signed
RC copy of the vehicle
Driving license copy
FIR on a case-to-case basis
Original estimate
Original repair invoice, payment receipt from the service center
For Third Party Claims:
Claim form duly signed
Police FIR copy
Driving license copy
RC copy of the vehicle
List of Some of Popular Car Insurance Companies:
United India Insurance Co. Ltd.
Website: www.uiic.co.in
Tata AIG General Insurancev Peninsula Corporate Park
Website: www.tata-aiggeneral.com
Bajaj Allianz
Website: www.bajajallianz.com
ICICI Lombard Motor Insurance
Website: www.icicilombard.com
Maruti Insurance
Website: www.marutiinsurance.com
The Oriental Insurance Company Limited
Website: www.orientalinsurance.nic.in
Kotak Mahindra Prime Ltd.
Website: www. kmpl.com
National Insurance Co. Ltd.
Website: www.nationalinsuranceindia.com
Reliance General Insurance Co. Ltd.
Website: www.reliancegeneral.co.in
IFFCO-TOKIO Private Car Insurance
Website: www.itgi.co.in
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