Tuesday, February 7, 2023

Vehicle Insurance: When purchasing vehicle insurance, keep these five points in mind; otherwise, your claim may be denied

Vehicle Insurance: Today, every household in the country owns a two-wheeler or four-wheeler because of a job. Every vehicle on the road is required to be insured, according to the Motor Vehicle Act. Fines may be imposed if this is not done. Aside from that, even if the vehicle is damaged in an accident, the damage might be covered through insurance. When purchasing vehicle insurance, most people do not read the terms and conditions attentively. As a result, their claim is denied when they need it most. Today, we’ll go over five such considerations to keep in mind while purchasing automobile insurance. Your automobile insurance claim will not be denied as a result of this.

1. Add-on covers

A vehicle insurance coverage does not cover some sort of damages. The policy includes different add-on covers for this. When purchasing insurance, many vehicle owners overlook these factors. As a result, the claim is denied at the time of the accident. Damage to the engine, for example, and depreciation losses (down in the value of the car) are not covered by a standard vehicle insurance policy. This necessitates the purchase of a separate engine protector as well as a zero depreciation add-on cover.

2. Send the car in for repair

After any type of collision, it is a typical mistake to send the vehicle for repair without informing the insurance company. According to experts, the majority of vehicle owners make this error. Insurance companies find it difficult to keep track of accidents and repairs as a result of this. As a result, assessing the loss and approving the claim becomes more complicated. Experts advise that you notify your insurance company as soon as possible following an accident. Not only will the damage be accurately assessed as a result of this, but the insurance company will also assist in transporting the vehicle to the garage.

Read More: The world’s highest mileage Car, with 260 kilometers per kilogram of fuel

3. Vehicle change

Vehicle owners frequently replace their vehicles without alerting their insurance companies. This includes installing the CNG kit in the car, as well as accessories and other modifications. If you make any modifications, make sure to notify the insurance company as well. If you don’t, your claim may be denied by the insurance carrier at the time of the accident.

4. Report the accident to the vehicle company as soon as possible

In the event of an accident, the car owner should contact his or her insurance company right away. The claim may be rejected if this is not done. Normally, the vehicle company should be notified of the accident within 24 to 48 hours.

5. Commercial vehicle use

The vehicle must be operated for the purpose for which it was purchased, according to the terms and conditions of car insurance. If you acquire an automobile for personal use and then use it for business, your claim may be denied if you have an accident.



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