Blunders That Could Lead To Rejection Of Auto Insurance Claim | MoneyMindz

By | 28/07/2018
Financial Advisory | Auto Insurance | MoneyMindz

India’s First Free Online/On-call Financial Advisory Portal – MoneyMindz

  You have been involved in an accident. You go to claim Auto Insurance for your vehicle but they rub salt on already existing wounds by rejecting your claim! Why are they adding fuel to fire? There could be certain reasons why your claim got rejected.

Do not let them add insult to injury. Don’t commit these mistakes.

1. Postponing the filing of claims

Unless the policyholder is injured or in a state of shock (where a slight delay is fine), the policyholder should immediately inform the insurance company. Directly inform the insurance company when you have been in an accident. Chances are that the insurance company will get the vehicle towed free of cost or get it picked up to the garage without any risk. If you don’t report the incident to them immediately, your claim will have more chances of getting rejected. [Get Personalized Advice On Auto Insurance Visit]


2. Not filing First Information Report (FIR)

First Information Report (FIR) is imperative and is a must for filing a claim in case of robbery or third party losses. FIR acts as an official description of the accident so its an essential proof for the claims team of the auto insurance company. This document helps them find out who was at fault, the owner of the insured vehicle or a third party.

3. Not having more evidence of the incident

Unsatisfactory or vague information will lead to rejection of the claim. It helps if you have photos of the damaged parts if the vehicle as you can get your insurance claim settled faster. Do not provide inaccurate information on anything. Be concise and clear. Claims can get rejected if the investigated information does not match the one provided by the claimant. Moneymindz, India’s first on call Financial Advisory,

4. Carry your license with you at all times

There are accidents that cause damage to the insured vehicle and third parties. During such times, the driver is also questioned. He/she ought to carry his/her driving license at the time. Recently, the fine charges have also increased. “Financial Adviser, Kuber Mindz”

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5. Without intimating them, you get it repaired

The claims team investigates after receiving a claim. The claim assessor will inspect the extent of damage caused to the insured car. Then the claimant has two alternatives; get the damaged vehicle repaired at one of the company’s garages (cashless claim) or get the damaged vehicle repaired at any garage and send the bill to the insured company (reimbursement claim). Now, if the vehicle is repaired before it is accessed for damages by the insurance company, the claim is considered void and can get rejected. India’s First Interactive Financial Advisor, Kuber Mindz

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