Insurance Claims-Things you should know
Wondering how you can file an insurance claim? Read below to understand claim process of various types of insurance policies in detail.
Process of filing health insurance claim
One can register a health insurance claim in the below two ways- cashless claim and reimbursement claims.
Cashless claim settlement process: If you are undergoing a treatment at the hospital that comes under the network of your insurer, then you can avail the cashless claim settlement process.
Inform the insurance company: When opting for cashless claim settlement process, ensure that you inform the insurance company. At the hospital, you will have to duly sign and fill a pre authorization form and the same has to be submitted to us for approval.
Submit the below documents: At the hospital, you will have to submit required documents such as your Aadhar card, policy number, policy documents and others.
Process of filing reimbursement insurance claim
Few insurance companies do not offer cashless claim facility at all hospitals and at such times, you would have to file reimbursement claim. Reimbursement insurance claim can also be made in case if you are seeking treatment at a hospital that does not come under the network of the insurer.
Step 1: Inform the insurance company about your hospitalization within 7 days from the date of discharge
Step 2: Download the claim form from the insurance company’s website or visit the office of the insurance company to get the same. Duly sign and fill the form and attach documents such as all the medical bills, discharge summary, investigation report, consultation sheet and other documents to the company. These documents will have to be sent to the insurance company or third party administrator.
Step 3: Retain all the copies of the bills and other documents that you have submitted to the insurance company. Your claim made on reimbursement basis will be settled within 2-3 weeks
How to file travel insurance claim?
In case of loss of any belongings, visit the nearest police station and lodge an FIR and inform the insurance company.
In case of loss of checked-in baggage, inform the airline and the insurance company.
Get the claim form from the insurance company via email or download it from their website.
Along with the police FIR, you will have to submit documents such as the claim form, witness statement, copy of ticket/boarding pass, medical reports, etc. Depending on the type of claim, the company may ask you for additional documents, if required.
Insurance companies provide you with travel insurance documents that specify the contact details of the claims administrator either in the destination country to which you are travelling or the country that is designated to receive and process your claim application.
Insurance companies have timelines for filing the claim, after which you would not be eligible to receive any compensation.
Mistakes to avoid when filing insurance claims
Not calling the police and lodging an FIR in case of motor and travel claims
Running away from the accident spot in case of motor claims
Not informing the insurance company
Not submitting all the documents
Failing to cooperate with the insurance company
Paying third party expenses out of your pocket
Not reading the policy documents carefully
Process of filing motor insurance claim
Claim under a motor insurance policy can be made under the following instances:
Injury or damages caused to third party
Damage or loss caused to you or your own vehicle. This is known as own damage and you are applicable to receive the coverage only if you hold a comprehensive insurance policy
Third party insurance claim
When you are involved in a third party accident, do the following:
File an FIR
Note down the names of the witnesses, if they are ready to support your claim
Try to take photographic or video evidence of the spot and incident.
Note down the details of the third-party involved. Don’t forget to note the insurance details too.Intimatethe insurance company within 48 hours of the accident
Collect photographic evidence of the spot (post-accident- in case you missed to perform point 3))
Register your case at tribunal court
Own damage insurance claim
In the event of own damage claim, do the following.
Intimate the insurance company about the accident as soon as possible.
Intimate the insurance company within 48 hours of the accident
Inform the police and lodge an FIR, if required.
Consult the police or the Insurance company before moving the vehicle from the accident spot.
Your car would be towed to the nearest garage station.
The insurance company will send a surveyor to assess the extent of the damage caused
In case the car is being repaired at a garage that falls under the network of the insurer, you can receive cashless claim service.
Your claim will be settled on the basis of the repair costs and coverage provided under your insurance policy.
In case you realize that your vehicle is stolen, do the following:
File an FIR: Inform the insurance company and the police immediately. Ensure that you lodge an FIR stating the theft of the vehicle.
Inform the insurance company: Immediately after filing an FIR, informs the insurance company about the theft. Explain them the whole incident and give them the registration details and the policy number. Insurance companies usually have a time limit of up to 24-48 hours under which it is important you inform them about the theft.
Inform the Vehicle Registered RTO& Local RTO: Intimate the regional transport office about the theft as you will have to collect the transfer papers along with other required documents.
Submit documents such as no trace reports, original keys of the vehicle, claim form, copy of FIR and others.
In case the bike is not recovered, you will receive a claim amount equivalent to the IDV of your bike.
Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales