Due to Cyclones Tauktae and Yaas, the testing times of COVID-19 became more alarming for India. Both cyclones wreaked havoc on the infrastructure and agricultural sectors. Many people died, and many more were homeless. As a result of the damage to their automobiles, many people are left with even greater stress and financial losses. Damage to a vehicle can result in a significant financial loss for the owner, but not if they have insurance.
Natural calamities are covered under Acts of God; thus, policyholders should constantly keep that in mind. Keeping this in mind, comprehensive automobile insurance is highly advised so that policyholders are not harmed by unexpected financial losses if a natural disaster strikes and damages the covered car. The Own Damage (OD) component of the policy is especially important since it aids in the payment of claims if the covered vehicle is damaged due to natural disasters such as storms, flash floods, earthquakes, and landslides.
When a natural disaster strikes and a motor insurance policyholder’s automobile or motorcycle is destroyed, the first step is to get photographic documentation of the damage. Before calling the insurance provider on the toll-free number and registering the claim, take many images of the damaged car. The policyholder must provide necessary papers such as picture proof of the damaged car, a copy of the driver’s license and registration certificate, and others, as well as a copy of the insurance policy.
Whether the insured has comprehensive or own damage insurance, their claims can be quickly resolved. Policyholders can also phone one of the specific helplines set up for fast-track settlements. Insurance firms should promote electronic communication for claim notification and subsequent document verification, according to the Insurance Regulatory and Development Authority of India (IRDAI). As a result, the policyholder may submit all required paperwork electronically without any hassle.
After the insured vehicle’s relevant documentation is provided, a surveyor is assigned to do on-the-spot physical verification of the vehicle. Policyholders with auto insurance are instructed not to relocate their damaged car from the designated location until the official inspection is done. Furthermore, the damaged automobile or bike should not be fixed before contacting the insurance company. The amount the insurer must pay is determined by the vehicle’s age as well as its Insurance Declared Value. On the insurance company’s website, policyholders may simply monitor the progress of their claims.
An automobile claim can be quickly resolved, but it also has the potential to be dismissed. Claim rejection can also be caused by damage to plastic components and tires in the absence of a zero-depreciation add-on. Policyholders, on the other hand, may always avoid claim rejection by being honest and timely. The two primary areas of protection that must be prioritized are health and automobile insurance.