When should you not Claim Car Insurance
When should you not Claim Car Insurance? 10th May 2021
The first task after buying a car is to get it insured. These insurance tools assist you in case of any damage or accident. Today, some of the best car insurance companies in India offers prompt service to clients in case of any mishaps. While the benefits of having insurance are known to most car owners, there is something more that you may need to know to make the best out of your insurance.
The best car insurance company in India would offer you the best insurance deals. But still, there can be limitations. You need to go through the terms and policies thoroughly before buying insurance. You will always find some restrictions no matter which insurance company you choose. The point is that you need to be careful about claiming the insurance. You need to know how to maximize the result despite the restrictions.
What are the situations when you need to rethink claiming insurance? Let us look into how you can utilize the facilities properly and make the insurance’s maximum use.
● When the car damage is minimal and it is a single-car accident - Car insurances are generally claimed during severe damage or harm. When you are the only one involved in an accident, you may consider paying from your pocket in case of minor damage. You can save your premium insurance service and also avoid an insurance rate increase.
● When the amount is the same or less than the deductible amount - Even the best car insurance company in India provides a deductible amount. You need to calculate if the repair cost would be similar or less than the deductible amount. If this is the case, it is wise to avoid claiming insurance. You would need to pay after the amount exceeds. Thus it is better to save the insurance for the future and pay on your own if the damage is minimal. Don't claim insurance in such a situation as it would unnecessarily occupy your claim history and obstruct premium facilities.
● When you can settle with the other party - There can be situations when you get involved in an accident with another vehicle. Pay the repair cost if the damage is minimal. Try not to claim insurance in such a situation when settlement is possible.
● When your vehicle is old and you do not need a polished vehicle - You can simply ignore the minor scratches or any dents or dings if your vehicle is old. You can save money by avoiding the repair of insignificant and small damages and keep the insurance for further usage.However, there are two situations when you must report the accident to your
car insurance company in India:
• If the accident is major and caused significant damage to vehicles and individuals, you must report to the police station and inform the insurance company. Don't settle major cases between parties.
• Do report the case to the insurance company if any individual get an injury. This will secure financial aid for the treatment.
Save your car insurance for accidents that you may not handle by yourself. Act wisely and utilize the insurance opportunities properly. Lastly, make sure that you have all the required documents in place.