Claiming insurance for a car accident is quite difficult in India and sometimes it becomes very difficult to calculate if there is actually a need to claim for it. There are various considerations that one needs to look upon before making the claim or going for a legal counsel. Hence, it is very necessary to understand the severity of the accident and its impact on your vehicle. Let’s check out what we should keep in mind before a car accident claim:
Who’s At Fault?
Though it may sound unimportant to you, it holds relevance during the time of claim. If you are not at fault, your insurance company will bear the damage charges incurred on your vehicle and will recover the same from the insurance company of the driver who was at fault. Furthermore, if you are not at fault, your insurance price will not rise and vice versa. But, whatever the case may be, your insurance company is entitled to pay for the damage caused to the vehicle.
Hence, it is very necessary to determine who is at fault before making the claim. To assure that, you can either lodge the complaint of the accident to the police station or gather enough proof to show which driver is at fault.
Amount of Damage in Both the Cars
It is always advisable to first calculate the amount of damage done in both the vehicles. Every insurance company has their own fixed collision deductible. So in case the damage to the vehicles is not surpassing that amount, there is not point of claiming the accident insurance then, as you will in case have to pay the deductible amount.
Is there Any Injury?
Injuries during fatal car accidents can happen and hence it becomes important in that case to file a claim as the amount in that case would surpass the deductible limit. Before making the claim, you must check if your insurance company provides claim for injuries or not. In fact, while purchasing car insurance, it is better if you check what all perks your insurance provider is offering .
There is no hard and fast rule to file and not to file a claim but a better understanding of the situation will help you taking the decision wisely. Of course, where the damage to the vehicle is huge, claiming car insurance is the right decision but when the damage is small it is better to skip it. Once claimed, the ‘No Claim Bonus’ provided by the insurer will become zero and hence you will end up paying higher premium in future.
The NCB (no claim bonus) starts at 20% for the 1st claim-free year and keeps on increasing up to an extent of 50% if no claim is made during these years. This claim goes back to zero once the claim is made.
Also filing claims at regular intervals would adversely affect the claim history of yours that may impact the price of your car in the market. There are also chances that the insurance company may deny to renew your policy in case your claiming history is frequent. For clear understanding of your policy, it is better to talk to your insurance agent before filing the claim.