Third Party Motor Insurance Claim Make It Easy

If you have a car or bike , you may be aware that the road is mandatory third party insurance . Indeed it is rather your vehicle to insure his or her 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 premium in April 2013 by the insurance regulator has risen nearly 20 per cent . So if you 're going to have to renew your car insurance then be prepared to loose pocket already .

You must understand that any motor insurance consists of two parts - the first and second Own Damage cover to cover third party . On the cover damage caused by an accident, damage to your vehicle is covered . Own Damage Insurance Regulatory fixed rates does not cover . Companies risk and determine it on the basis of market competition . Well convince the third party insurance companies own damage cover the increase in premium rates have not increased , otherwise the vehicle upkeep costs 20 per cent more than just insurance increased annually due to incur .

Third party motor insurance regulator Insurance average of 58 percent in 2011-12 , 15 percent in 2012-13 and 20 per cent in the year 2013-14 has increased . According to statistics from insurance regulator motor insurance industry claims ratio of 213 per cent in 2010-11, but in 2011-12 it came down to 145 percent . Third party motor insurance claims ratio was the major cause of rising premiums .


Third Party Insurance Claim Process

First, it must understand that this is very different from motor insurance to cover own damage claim process , so it is different . Immediately after the accident the driver, the owner should notify the police , the FIR . Should be reported to the insurance company . Motor Accident Claims Tribunal cases disposed of Third Party Insurance ( MACT ) and third party in determining the amount of compensation is determined by the court to compensate the third party insurance
Does the insurance company .

In the case of third party claims is also important to document the whole process . For example, the claim form completed by the policyholder , driving license copy , the copy of the policy , a copy of the FIR was lodged at the police station , RC copy of the vehicle , if the vehicle is registered in the name of the company , its parent document in case of commercial vehicles, in terms of stamp and include their permit and fitness certificate .

How to make simple claims

The more information you have about the accident to the insurance company will process your claim will be equally simple . So when filling out the claim form instead of closure to the detail information regarding the accident . If possible crash site before being removed from the vehicle to the crash site to take a picture and attach it to the claim form . If your vehicle to a nearby private hospital and you've been injured or admitted to nursing homes , where you have to pay the costs of treating you immediately informed to your insurance company . The insurance company will cover the cost of treatment .

Do not fall for brokers in turn












Such people will contact you shortly after the accident compensation claim that a third party will readily promised . Beware of such intermediaries and brokers . If the document you contact the insurance company directly . Third party claims filed as soon as possible , go early . If the case is still in court, you must stay in constant contact with the insurance company . It will continue to get phase information of the claim . Often because of the low interest of the policyholder 's claim is getting paid . Go to court to get the money in your favor over time , it is necessary to ensure .