Make it easier for third-party motor insurance claims

If you have a car or bike on the road for you to be aware that third party insurance is compulsory. Actually it is not to insure your vehicle or property damage to another person's make up. Third party insurance premium rates with the Insurance Regulatory and Development Authority (IRDA) is. Third party motor insurance premiums from April 2013 in the insurance regulator has increased by 20 per cent.

You must understand that any motor insurance consists of two parts - the first and second Own Damage cover to cover third party. Own Damage caused by an accident under cover damage to your vehicle is covered. Own Damage Insurance Regulatory fixed rates does not cover. Companies risk and determine it based on market competition.

Third party motor insurance regulator Insurance average 58 percent in 2011-12, 15 percent in 2012-13 and 20 per cent in the year 2013-14. Third party motor insurance claims ratio was also a big reason for the rise in premiums.



A third party insurance rates effective from April 2013

Car

Rs 1,000 cc --- 941

1,000 cc 1,500 cc and above but less than Rs 1,110 ---

More than Rs 3,424 --- 1,500 cc

Bikes and Scooters

75 cc --- 414 RS

But more than 75 cc to 150 cc --- 422 RS

From 151 cc to 350 cc --- 420 RS

More than 350 cc --- 804 RS

Source: IRDA



First of all it should be understood that the motor own damage insurance cover is very different from the claims process so it's different. The driver informed the police immediately after the accident, the owner FIR to be filed. Should be reported to the insurance company.

In the case of third party claim is also important to document the whole process.In case of commercial vehicles, in terms of stamp and include their permit and fitness certificate.



When filling out the claim form rather than formalizing the detailed information related to the accident. The insurance company will cover treatment costs.



Others who will contact you shortly after the accident compensation claim against a third party who will readily promised. Beware of such intermediaries and brokers. Throughout your document, you can contact the insurance company directly. Have third party claim filed as soon as soon as possible. If the case is still in court, you must stay in constant contact with the insurance company. This will provide for the phase of the claim. Often, due to the low interest of the policyholder's claims are getting paid. Go to court to get money in your favor at the moment, it is also important to make sure.