How to File a Fast Claim after an Accident

According to insurance experts, the first thing to do after getting injured is to file an insurance claim with your insurance company or insurance executive. No wonder an insurance claim would help you get the compensation to bear medical expenses, loss of income, and suffering that resulted due to the accident. Let us now discuss more the procedure to claim an insurance along with explanations relating to the claim process.

Understanding the Claims Process

Injuries caused due to an automobile accidents, home or building site, or in the midst of going to the business must be reported within 24 hours of the incident. And in case you are not the one at fault in that accident, then also you must get in contact with the insurance provider, site owner (in case of an accident at home/building) and even with the one who is at fault. And during this contact, you will be asked to provide the information relating to the accident and extent of injuries caused.

Followed by which the insurance company with begin with the investigation of your claim. During the investigation, you will be asked to provide the photos of the accident, name and contact of the witnesses, and also a complete information of the incident. Adding to it, the insurance provider will send you to go for a medical examination at the place specified by him/her. In the case of accidental injuries caused at a building or home, an inspection of the site is carried out by the claim executive.  

Here is a list of to-do-things when it comes to claiming an insurance:

1. Complete documentation

None of your requests or claims would be entertained unless your documents are not complete. A documented proof is required to be submitted to the insurance company to get the cover. So, try to take pictures of the damage to the property (whether living or non-living) from all specific angles properly. If someone else was accompanying you during the accident, also click an image of the person to add it as the photo proof to the insurance company. Once all the documents are submitted, make sure to sign the claim form mentioning each and every detail of the accident.

2. On-the-spot contact

Generally, the insurance companies provide 24-hour helpline number to become more accessible to their clients. So keep all your insurance related documents in your car, so during an accident you can contact the insurer or the company as soon as possible. Many times you will be asked to send the relevant details via mail or fax to proceed filing with the claim. It is highly recommended to include only factual information instead of any false assumptions as the latter may drag you into some serious consequences.

3. Get in contact with an expert

Make sure you get connected with an expert once you are heading on to file claim for an insurance. This is because not everyone is experienced or knowledgeable of the technical aspects related to this domain. And only an expert can get you through the process seamlessly. Some of the companies offer expert assistance throughout the process.

4. Visit the service centre

Most of the insurance claimers forget to visit the service centres for a thorough inspection of their vehicle which sometimes lowers their chances of getting all the claims cleared. Simply get the list of service centres that are covered under by your insurance company.

5. Final interrogation

After this all, an executive from an insurance company would visit to inspect your car to match up with the documents sent for claim. And once the check is done, the insurance company will decide whether you are eligible for the insurance claim or not.

Finally, after evaluating the total amount of your claim, the insurance company will issue a settlement cheque. This cheque is only offered after a successful approval of the insurance claim. However, the amount in settlement cheque offered, if found unsatisfactory can be proceeded with for another re-evaluation by the insurance company, followed by another process of document submission and inspection.

A Brief View of the Evaluation Process of Insurance Claims Amount

The calculation of the amount to be given during whilst a Motor Accident insurance is meticulously calculated with specific formulas. First of all, the analyst of insurance claims would sum up all your medical expenses (in case of minor injuries) which is further multiplied by 1.5 or 2 to get an idea of the payable amount for the claim.  Although in the case of serious injuries, the sum total is multiplied by 5 or even 10 in case of grave injuries. The amount thus obtained is then clubbed with lost income, which ultimately finds its way into the settlement cheque at the end. Now that you have got the settlement amount, you can apply for negotiation with the insurance company to get the amount re-evaluated.

Harjot Singh Narula

Harjot Narula is founder and CEO of ComparePolicy.com, an IRDAI approved insurance web aggregator focussed on selling online insurance for companies. Harjot has more than a decade of experience in software development and has also spent 5 years in US working for the mortgage and risk management industry.

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