Steps to Know Before Filing a Car Insurance Claim

by

Dinesh MittalIt has been observed that most car owners though possess a car insurance policy, at the time of damage to the car or while registering a claim, are clueless about the procedure they need to follow. Documentation to be kept handy:Before one decides to file a claim they should have the following documents in place: 1-Original Registration Certificate and Driving license required for verification. 2-Claim form (duly filled in & signed) to be submitted to the repairer/surveyor. 3-Some of the details you will need to fill in the claim form and must know are: – Policy Number – Name of the Insured Person – Name of Driver – Contact Number(s) – Vehicle number – Make and Model of your Car – Date & Time of the Accident – Location of Loss – Brief Description about the IncidentCashless and Reimbursement Claim Settlement While registering a claim, it is important to know that one can either go in for a cashless claim or a reimbursement one. In a cashless claim, one must send the car for repairs to one of the workshops where the insurance company has a tie-up after taking approval. In this case, the insurance company will pay the approved amount to the garage directly, and the insured will only need to pay the part not paid. On the other hand, for the reimbursement settlement, one will need to pay the amount after the repairs are done and post that the amount will be refunded by the insurance company. If there is a networking workshop close by, cashless claim settlement will definitely be more convenient. Things to keep in mind before registering a claim:1-One should read the policy document carefully before filing a claim. If the policy is not available, one can check it on the website of the insurance company.2-For any question or doubt, one must contact the customer support team of the company and get clarifications.3-Also, it must be seen, especially in the case of damages, if the cost of repairs is not too much, a claim must not be filed as that will affect the no claim bonus in the next policy year. No claim bonus is a discount provided to the customer if he has no claims in the policy year.The claim process for each insurance varies a little. Let us discuss each one as follows:Claim Registration for Damage to Own Car1-When there is a damage to your own car, the first and the essential thing to do is to fill in the claim form of the insurance company, and submit it along with all the required documents. You must inform the insurance company before you send the car for repairs to the garage or the workshop. The forms are easily available at all offices of the insurance companies and also on their website.2-A surveyor is sent by the insurance company to assess the loss and the damages. Once the survey is complete, a report is submitted by the surveyor to the insurer.3-If the extent of damage is a lot and urgent action is needed, it is tried that the surveyor reaches the spot of an accident at the earliest.4-As per the report of the surveyor, you can make arrangements for your car repairs.5-Once the repair work is complete, you will need to collect all bills and other necessary documents from the garage and send them to the surveyor, who will then submit a report with an assessment to the insurance company.6-If all documents are submitted as per the requirements and the report of the surveyor is fine, you will get a reimbursement of your expenses.One essential thing to be kept in mind here is that you should be careful to submit all the documents as soon as you get the car after repairs, as most insurance companies will not accept them later.Claim Registration for a Third Party ClaimIf you receive a legal notice from a third party for a claim, you must first inform your insurer and then proceed to reply to the notice. You also must take care and speak to the insurer before you give a commitment for out of court settlement or for a financial settlement. 1-The insurance company will require a copy of the notice, which must be duly submitted.2-You will also need to submit a copy of your driving license, RC book of the car and the First Information Report.3-After verification, the insurer will assess the accident and if they are satisfied, they will help you by appointing a lawyer.4-If as per the decision of the court, you will be required to pay the third party for the damages, the amount will be directly paid by the insurance company.It is essential to know the process to file a claim as if it is done right the first time, there will be no hassles later on.

The author writes about diverse topics in the field of finance and has built his expertise around the

car insurance

domain. He diligntly stays up-to-date with the latest

financial developments in India

and abroad.

Article Source:

eArticlesOnline.com}

Submitted by: Xemplar Telematics

Insurance telematics and Usage Based Insurance (UBI) programs continue to roll-out across the globe. The rapidly changing landscape is making the insurers select the accurate business models to ensure success. However, many programs are out with a focus on price discounts resulting in a foreseeable race to the bottom; but the industry is moving in the direction to subset the companies to succeed.n

The recent innovation by auto insurers Usage Based Insurance (UBI) is more closely align the driving behaviors of premium rates for auto insurance, while the mileage and driving behaviors are tracked using odometer readings or in-vehicle telecommunication devices such as telematics which are typically self-installed into a particular vehicle port or already integrated equipment installed by car manufacturers. The essential idea of telematics auto insurance is to monitor the driver’s behavior directly while the person drives. With the help of these telematics devices, you can measure a number of elements of interest to underwritersmiles were driven; time of day; rapid acceleration, where the vehicle is driven (GPS); hard breaking; hard cornering; and air bag deployment. The level of data collected will generally reflect the telematics technology employed and the policyholders readiness to share personal data. Then the insurance company assesses the data and insurance charges or premiums accordingly. For example, when a driver drives long distance at high speed will be charged a higher rate than a driver who drives short distances at minimal speeds. While UBI premiums are collected using a variety of methods, including utilization of the gas pump, direct billing, debit accounts and smart card systems.n

About a decade ago, the first UBI programs began to shell in the U.S. and this is the time when Progressive Insurance Company and General Motors Assurance Company (GMAC) began to offer mileage-linked offers through combined GPS technology and cellular systems that tracked miles driven. These offers are still in combined with ancillary benefits such as roadside assistance and vehicle theft recovery. The current accelerations in technology have augmented the efficiency and cost of using telematics, enabling insurers to detain not just how many miles people drive, but when and how they drive too. Such strategies helped to result in the growth of several UBI variations, including Pay-As-You-Drive (PAYD), Pay-As-You-Go, Pay-How-You-Drive (PHYD), and Distance-Based Insurance.n

Usage Based Insurance Pricingn

The pricing schemes for UBI are included greatly from the traditional auto insurance. Traditional auto insurance relies on actuarial studies of aggregated historical data to create rating factors which include driving record, personal characteristics (age, gender, and marital status), credit-based insurance score, vehicle type, garage location, vehicle use, previous claims, liability limits, and deductibles. You can find premium discounts on traditional auto insurance which are usually limited to the bundling of insurance on several vehicles or types of insurance, insurance with the same transporter, protection devices, driving courses, home-to-work mileage and more.n

While policyholders think of traditional auto insurance as a fixed cost, or can be assessed annually by usually paying in lump sums on an annual, semi-annual, or quarterly basis. But, studies show that there is a strong correlation between loss and claim costs and mileage driven, particularly when existing pricing factors defers (such as class and territory). Maybe this can be one reason, many UBI programs seek to change their fixed costs associated with mileage driven costs that can be used in combination with other rating factors in the premium calculation. n

Usage-based insurance has an advantage of utilizing individual and current driving behaviors, rather than relying on aggregated information and driving records of past trends and events, making premium pricing more individualized and precise.n

Challengesn

The challenges like tracking the mileage and behavior information in usage-based insurance programs have raised privacy concerns; as a result, some states have enacted legislation requiring disclosure of tracking practices and devices. Furthermore, some insurers limit the data they collect. This is not for everyone although; but acceptance of sharing the information is growing as more mainstream technology in devices such as smart phones, tablets, and GPS devices. And moreover, social media networks like Facebook and Twitter also enter the market.n

Implementing a UBI program, mainly one that utilizes telematics can be expensive and resource-intensive to the insurer. In addition, UBI is an emerging area and therefore there is still much hesitation in selecting and understanding of driving data and how it should be integrated into existing or new price structures to maintain profitability. This is very much important; as the transitioning of lower-risk drivers into usage-based insurance programs offers lower premiums could put pressure on overall insurer profitability.n

Advantagesn

Usage-based insurance programs offer many advantages to insurers, consumers, and society. The main aim is to link the insurance premiums more closely to actual individual vehicle or fleet performance. This increases affordability for lower-risk drivers, many of whom are also lower-income drivers. It also gives consumers the ability to control their premium costs by incenting them to reduce miles driven and adopt safer driving habits. Fewer miles and safer driving also aid in reducing accidents, congestion, and vehicle emissions, which benefits society.n

The usage of telematics help insurers to more accurately estimate accident damages and reduce fraud by enabling them to evaluate the driving data during an accident. In addition, the ancillary safety benefits accessible in conjunction with many telematics-based UBI programs also help to lower accident and vehicle theft related costs by improving accident response time, by allowing the stolen vehicles to be tracked and recovered.

About the Author: Primes telematics system, Xemplar, enables fast and efficient two-way communication between insurers and customers. Xemplars mobile app-based system saves you money on hardware and infrastructure costs while also accommodating any mobile device or tablet, reaching drivers anytime and anywhere, and providing your business with critical information in real-time. Contact us now, and in less than 24 hours you will have the best technology solution for auto insurers. for more information visit us at

xemplartelematics.com/

Source:

isnare.com

Permanent Link:

isnare.com/?aid=1955712&ca=Automotive }

Submitted by: Shevvy Bowman

On reference of today world,electricity is of prime significance to our life. Most of the commercial industry and machines as well as residential, work on electricity. It is used to make our work easier as well as to induce a healthy, comfortable, and hassle free lifestyle. However, none of us are ignorant of the problems of load-shedding or sudden power-cuts. Even a few hours without electricity can hamper the normal functionality and productivity, whether at home or at office. Generators have been in charge with the aim of supplementing the shortage of power during such load shedding. However, there exists times when we are with sudden breakdown of generators. At those times you must call for emergency generator repair & maintenance services. There are specialist who will attend to your problem immediately and will repair or service the generators to restore smooth functioning. But, you need to make sure that you are calling the right electricians who have the expertise in dealing with generator repair. Here’s how you will know that the service providers you are contacting is right for the task:

The first thing that you should check whether the service provider you are hiring has the license to do the repairing of generators. Check whether the electricians have a registered office. Unlicensed and unauthorized persons should not be allowed to handle electrical machines.

* Electrical jobs are associated with various risks. That is why it is mandatory to check whether the company you are choosing is having proper insurances. Do not believe their word of mouth; instead, check the validity of their insurances by checking their documents.

* Check whether they are well equipped to handle generator repair. Repairing suchlike machines require specialized tools and equipment. Make sure the service providers are trained and knowledgeable to handle different tools and equipment.

* Ask the experts about the safety measures they might take while repairing. There are various measures to take for electrical jobs to safeguard life and property from accidents.

* Check whether the electrical contracting company you are contacting offers emergency services. Such services will be required when there is a sudden breakdown of the generator. Moreover, emergency services can save life and property from fatal accidents and fire. Call up and check whether they are responding promptly to your call.

So, are you seeking the best electrical contractors for generator repair and maintenance best yorkshire based service providers are known for providing the best and fastest services for electrical (generator) repair. Choose a renowned one to ensure that the electrical project is completed timely and within your budget.

Or else Our professional electricians can come to your home and diagnosis any electrical problem you may be having. Our electricians and resources are fully stocked to ensure that we have the right tools and materials to ensure the best service for your home electrical requirements. We will do all your electrical work personally to guarantee an excellent job for you. We focus on quality as well as durability in order to maintain great relations with our customers. All the electrical materials we install for your project will be the finest that are available.

About the Author: AS a great analyzer I deliver my motive in awaring people about business consultants like generator maintenance and repair contractors, electrician providers etc.

n-ergy.solutions/generator-maintenance/

Source:

isnare.com

Permanent Link:

isnare.com/?aid=1957944&ca=Finances }