Insurance policy works like a contract in which a person and the product is assured with financial protection against loses whether large or small financial loses and receive compensation for the loses of a person or an entity i.e. insurance company. Insurance policy also protects from loses which were caused to the insurer due to any damage or damage caused to a third party vehicle. The type of commercial vehicle insurance covers a wide range of commercial vehicles, from cars used for business purposes, including company cars, to a variety of trucks and commercial vehicles. Commercial vehicle insurance is required to cover the cars, vans, and vans used in your business. Large fleets of vehicles, as well as small businesses, should be adequately covered by a commercial auto insurance policy https://bit.ly/Download-Transport-Mall-App-Topic1

1. All You Need
To
Know On
Insurance Claims

2. What is Motor Vehicle Insurance Policy?
Insurance policy works like a contract in which a person and the product is assured with financial protection
against loses whether large or small financial loses and receive compensation for the loses of a person or an
entity i.e. insurance company.
Insurance policy also protects from loses which were caused to the insurer due to any damage or damage
caused to a third party vehicle. The type of commercial vehicle insurance covers a wide range of
commercial vehicles, from cars used for business purposes, including company cars, to a variety of trucks
and commercial vehicles.
Commercial vehicle insurance is required to cover the cars, vans, and vans used in your business. Large
fleets of vehicles, as well as small businesses, should be adequately covered by a commercial auto insurance
policy

3. What is a Claim in Motor Vehicle in Insurance?
The insurance policy works on the mechanism of claim filling and claim processing if there
occurs an unforeseen situation which cannot be avoided. An insurance claim is a request
made by the insured to the insurance company for the payment of the loss made to the vehicle
or the insured in the case of an accident. The claim processing is then done for the insured by
the insurance company after checking up all the integrities.

4. The most
important
part of a
motor vehicle
insurance is
claim.

5. If the commercial vehicle comes up in an accident, the main process which comes up is the process of
claim settlement. Whatever may be the type of the contingency, be it an accident or a theft or any other
case, the process of the claim has to be followed by each time by the insured in order to get the claim
form the insurance company.
Although the processes more or less the same in all cases however they make be case specific. The
slight difference which is seen in the claim settlement process is on the basis of cashless and non-
cashless process of claim settlement. In the cashless process the insurance company will itself shift the
vehicle to the nearest repair station where they have their tie-ups. On the other hand, the non-cashless
process will pay the amount of the expenses after the bill of the expenditure is being submitted by the
insured.
How to file a Claim?

6. Claims and everything
related to it can be a
difficult thing. We, at
Transport Mall simplified
all this through these
slides for all vehicle
owners and drivers.

7. Factors Affecting Claim
 Excess
There is a component of compulsory excess in a vehicle insurance policy. This excess represents the portion of the claim
payable by you. In every claim, you would have to compulsorily bear the excess. Similarly, there is also a concept of
voluntary excess. However, unlike compulsory excess which is mandatory, voluntary excess is chosen by you. If you
choose a voluntary excess, you would have to pay the chosen portion of the claim. Voluntary excess, if chosen, earns you a
premium discount.
 Exclusions
Vehicle insurance policies have exclusions that are not covered under the plan. If a claim is made for such exclusions, the
claim would be rejected. So, before making a claim, check whether the claim is covered or excluded.

8.  Preferred garage
Cashless claims are settled only if the car is repaired at a preferred garage. So, before taking your car for repairs, check
the preferred garages in the area. You can also find the garage from the insurance company’s toll-free number while
registering the claim and take the car to the networked garage.
 Loss of No Claim discount
When no claim is made in a policy year, the car insurance policy allows a premium discount in the next year’s premium.
This discount increases every subsequent claim-free year. If, however, a claim is made, the discount becomes zero. So,
avoid making small claims. Pay the repair costs of smaller claims from your own pockets to avoid losing the accumulated
no claim discount.
• Documents required
Every claim requires a valid set of documents which should be submitted along with the claim form. Some common
documents include copies of the driving license, RC book, policy bond and FIR, if applicable. So, when making a claim,
make sure that the relevant documents are handy.

9.  Using add-ons
Add-ons are additional coverage features that enhance the scope of coverage of the car insurance plan. If you have
selected add-ons in the policy, see if the add-on proves useful at the time of claim. For instance, if you have a roadside
assistance add-on and your car is stranded in the middle of the road, you can call the insurance company and use the add-
on for arranging assistance. Similarly, in the case of a zero depreciation add-on, the insurance company would pay the full
claim, without deducting depreciation. So, see if the selected add-ons are being used in case of your claim.
 Depreciation
If your car is being repaired, depreciation would be applicable on the parts being repaired. The insurance company would,
thus, pay a portion of the actual bills after deducting the applicable depreciation (On Plastic Parts 50% on Metal Parts –
As per Vehicle Age, & on Glass No Depreciation) You would, then, have to bear the cost of depreciation and pay the
unsettled claim yourself.

10. The vehicle is on
accident and the
insurance company will
give a rejection on
claim. To simplify this
issue, scroll to the
further slides.

11. Claim Rejection
At the unforeseen situations of accidents and contingencies, when the vehicle insurance claims are filled by the insured to
an insurance company it is not always that the claim will be passed out to the insured. Sometimes, the claim gets rejected
by the company due to a lot of reasons. Following are some reasons for the same:
 Claim occurred due to negligence
There are instances when an accident occurs due to the negligence of the individual driving the vehicle the insurance claim
is rejected by the insurance company. Also, if the commercial vehicle driver or owner is a negligent individual apart from
the accident i.e. he/she is negligent in maintaining the vehicle’s safety the claim will be rejected. This is because the
insurance company by default is aware about the negligence of the person driving the vehicle.

12.  Proof of accident isn’t available
Insurance companies usually require a proof of the happened accident so that the accident can be certified. This is being
demanded to avoid any fraudulent claims or any misleading claims. The basis on which the accident is given the batch of
proof is through videos, photos, eyewitnesses, FIR (in case of third parties). In the absence of the proofs the claim is being
rejected by the insurance company. Hence, it is always advisable to the vehicle owners and drivers to click images or
record little video of the accident for the claim processing
 Delay in Claim
If the individual i.e. the commercial vehicle driver does not immediately inform the insurance company regarding the
claim filling then the claim can be rejected by the insurance company. If there is a delay in informing the insurance
company and the company finds out something suspicious about the accident, then also the claim can be rejected by them.

13.  False Details for Claim
In cases wherein the details provided by the insured is false or misleading or fraudulent in those cases the claim is being
rejected by the insurance companies. The case of fraud can be where the vehicle driver knew that an issue may occur in
the vehicle being on road and then when the accident took place, the driver cooks up a story of the entire accident and asks
for claim from the insurance company then the claim is subject to be rejected by the insurance company.
• Claim has an excluded expense
When a policy is being made by the insurance company and issued to the insured, usually all the terms and conditions,
exclusions, inclusions are being talked on at that time between the insured and the insurer. If at the time of the accident,
the insured asks up for the expense which was not a part of the earlier discussed insurance policy then the claim will not
be processed and will be rejected. The exclusions are not part of the insurance policy so the payment will not be made and
if the insured asks for a payment of anything which is not included in the policy and hence, the claim will be rejected.

14.  Invalid documents
If in the claim process, the individual submits the wrong documents then the claim gets rejected by the insurance
company. Proper paperwork is highly important to be submitted for right and up to the mark insurance claim. Paperwork
has been eased by the Transport Mall App for the commercial vehicle owners and drivers by the feature of uploading
documents to the app by one single click.
 Claim made but Policy Lapsed
An expired or a lapsed policy won’t provide the insured i.e. the vehicle driver any claim at the time of the accident. This is
the reason, its always suggested to get the policy renewed time to time in order to avoid the rejecting of the claim in the
time of the unforeseen circumstance.

15. Important Immediate Actions to do after an accident
As soon as the accident occurs, make sure to start the claim settlement process.
• The insurance company doesn’t give the same claim amount as being promised. Check upon that
before signing the document.
• Insurers deduct salvage value or salvage cost. Avoid these deductions.
• Insurers apply their standard rates of repair, and not the actual garage cost, thus increasing your share
of loss, this should be avoided.
• Make sure to ask the insurance company's person to explain every line or the item of the claim

16. THANK YOU
By-
Transport Mall Digital Team
Vishakha Chaudhry
Albin Mathew