Claim Process
Insurance claims help pay for the financial issues incurred, now claiming your insurance is hassle-free.
- Car
- Bike
- Health
- Commercial vehicle
What is a car insurance claim?
Car insurance acts as a protection cover to your cars from accidents and other disasters. Car Insurance can help the policyholder to provide the necessary cover for the car damages. The process by which a policyholder receives the coverage amount for the service is called a claim.
Type of car insurance claims
Cashless claim
The claim is applicable for vehicles in the network garage for service. The claim amount is not paid or transferred in the form of real cash instead paid in any other means. The steps involved in the cashless claim are as follows,
- Inform the insurance firm about the accident through the helpline or any other communication channel
- Choose from the network garage for service
- Calculate the estimated value of the service
- Fill in the form and attach the necessary documents to submit the requisition
- The insurance provider takes a call on the claim approval
- Service starts based on the insurance firm’s approval which may done by appointing a surveyor
- The policyholder has to pay for deductibles and expenses that do not come under the coverage
Reimbursement claim
In this type of claim, the Insurance policyholder will have to pay for the service, and the insurance firm will approve of making a claim. Usually, it is applicable to service in non-networked garages. The steps involved in the reimbursement claim are,
- Inform the insurance firm about the claim needed
- The necessary forms and documents must be submitted
- The service charge is estimated and informed to the policyholder
- The vehicle can be repaired at the convenience of the car owner
- After the completion of the service, the car status is checked
- The policyholder has to pay for the service and later submit the bills to the insurance company along with the claim form
- The company decides on the approval and then forwards the claim amount to the policyholder
Documents required
- RC of the vehicle
- Driving license of the policyholder
- Copy of the policy
- FIR (in case of an accident)
- Claim form
- Original repair bill
- Release proof
What is a bike insurance claim?
Bike insurance comes into play when the policyholder’s bike is met with an accident or damaged due to a natural disaster. Upon raising the claim, the insurance firm provides the necessary financial support during such situations as per the regulations attached to the bike insurance policy. The process by which the policyholder receives the expense responsible for the repair is called a claim.
Types of bike insurance claim
Cashless claim
The claim is applicable when the vehicle is at the network garage for service. Cashless claim means that the insurance provider directly settles the claim with the network garage without the customer having to need pay out of his pocket. Steps involved in the claim process are,
- Inform the insurance firm about the accident or any other service
- Always prefer the network garage when you want to go for cashless claim
- For theft and accident, you need to go to the Police station and file an FIR
- You may be assigned an inspection officer who will inspect the mishap
- The service process starts based on the insurance firm’s approval
- After service completion, the firm will pay directly to the service center
- The policyholder has to pay for deductibles and expenses that do not come under the coverage
Reimbursement claim
The policyholder will have to pay for the service and later submit the bills to the insurance firm to make their claim. The steps involved in the process are,
- Register with the insurance firm regarding the claim
- Fill the claim form and submit relevant documents
- An estimate of the service is calculated and informed to the policyholder
- The vehicle can be repaired at any of the non-networked garages
- Discharge voucher from the garage that is signed by you along with a Revenue Stamp
After the service is done, the insurance firm will conduct another inspection - After the service is done, the insurance firm will conduct another inspection
- The policyholder pays for the service and later submits the bills regarding service to the firm
- The firm approves the claim, and the claim amount is given to the policyholder
Documents required
- Copy of RC and license of the vehicle and the policyholder
- Policy copy
- Police FIR (in case of theft, accident)
- Claim form
- Original repair bill
- Release proof
What is a Health Insurance Claim?
A health insurance plan comes into use when the insured person is admitted in a hospital on a medical contingency. During this time, the expenses incurred in the hospital are covered with the help of the health insurance plan. The process where the insured receives compensation for his medical costs incurred is called a claim.
Types of Health Insurance Claims
Cashless claim
Cashless hospitalization is a claim where the insured person receives claims without paying in cash for the medical expenses. The insurance company settles the bill directly with the network hospital where the insured person is admitted. This benefit can be availed only when the insurer is admitted in the network hospital.
2. The hospital will verify your identity and send the pre-verification form to your insurance company.
3. The insurance company will review all the documents and confirm the hospital to go ahead with the cashless treatment.
4. Some companies may assign a field doctor to make the hospitalization procedure easier.
5. The hospital sends the final medical bill to the insurance company during discharge.
6. After it checks the bills, the insurance company pays the amount directly to the hospital.
a. Planned Admission
When the policyholder is aware beforehand that he needs to be admitted in the hospital, he needs to contact the insurance company before the hospitalization.
b. Emergency Admission
Suppose the insured person suffers an accident or develops sudden complications like stroke or heart attack. In that case, the family of the insured person needs to contact the customer care after admission. The pre-authorization form has to be faxed to the insurance company within 24 hours of hospitalization.
Reimbursement Claim Process
In the case of a reimbursement claim, the policyholder himself/herself pays the bills and gets the amount reimbursed by submitting the bills to the insurance company.
Reimbursement claim for health insurance policy works as follows:
1. Complete the claim form and attach the doctor's prescription.
2. Get the discharge summary from your hospital fill along with all the tests and scan reports.
3. Get the final hospital bill.
4. Enclose all the bills and vouchers for the medicines.
5. Submit to the insurer.
6. Your insurer will review the claim and process your payment within seven days. If the treatment is not covered under your existing policy, you will receive the rejection letter.
Documents required
- Health Insurance Card
- Filled claim form
- Medical reports, scans, x-rays, blood test reports etc
- Complete bills including pharmacy
- FIR report in case of an accident
- Discharge Summary
Commercial Vehicle Insurance Claim Process
The claimant must immediately inform the insurance company about the accident or theft. A claim can be obtained either through reimbursement or by going for a cashless claim in garage centres.
Steps for Commercial Vehicle Insurance Claim
Cashless hospitalization is a claim where the insured person receives claims without paying in cash for the medical expenses. The insurance company settles the bill directly with the network hospital where the insured person is admitted. This benefit can be availed only when the insurer is admitted in the network hospital.
- The claimant must immediately inform the insurance company about the accident or theft.
- Documents such as vehicles papers, license copy should be submitted to the company with the claim form.
- A surveyor appointed by the insurance company comes and inspects the vehicle.
- If the surveyor gave consent to go ahead with the claim process and provided the claim comes under the terms of the insurance policy the customer has chosen, the claim amount is processed.
- If the claim is not valid as per the insurance policy terms, it gets rejected.
Documents required for the claim process
- Fully-Filled Claim form
- Damages list
- Copy of the insurance policy
- Medical Certificate in the event of injury or death
- Proof of accident
Exclusions in the claim
- Wear and tear associated with the vehicle
- Accidents caused by the influence of alcohol or drugs
- Mechanical or electrical damage
How Long Does it Take to pay a Commercial vehicle insurance claim?
Usually, the claim is settled within 30 days from the day of claim request. However, if the claimant is unsatisfied with the received claim amount, and has filed a case in the court, it might take a little longer.