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Is There a Time Limit for Car Insurance Claims?
Dec 25, 2022

Is There a Time Limit for Car Insurance Claims?

A car insurance policy effectively combats the expensive costs incurred when your car suffers damage and undergoes some kind of repair. While every vehicle owner should buy a motor policy to comply with the law, it is essential to remember that a third-party insurance policy only provides coverage in case of third-party incidents. A comprehensive policy should be bought so that the damage to your car is also taken care of by the insurer. Comprehensive insurance policies are helpful not only during accidents but also in times of natural disasters or manmade calamities. If your car suffers damage due to such events, you can simply make a claim and get compensation. * Whether it is a third-party car insurance policy or a comprehensive one, for the claim process to go ahead, you must raise a claim on time. The time limit to make a claim differs between insurers. This article takes a detailed look at how the time taken to make a claim can affect the insurance claim approval process.

What is the usual time limit for motor insurance claims?

The time limit specified by most insurance companies to make a motor insurance claim is a few days, with a maximum of seven days, after the event has occurred. Some insurance companies expect the policyholder to claim within 48 to 72 hours of the event. * However, this time limit is not a hard-and-fast rule that every policyholder must abide by to get their claim approved. Rather, it is the ideal time frame that insurance companies highlight to the policyholders so that they can inspect the damages to the car and get it repaired accordingly. * For instance, if the car has undergone water damage due to floods, then allowing it to stay as it is for multiple days can worsen the damage. If the claim is made within a few hours or a day or two, the insurer can inspect the damage on time and send it for repairs soon.

Can a delay in filing claims lead to claim rejection? 

The clear answer is no. If you are unable to raise a claim on your car insurance policy in the given time, there are very low chances that your claim may be rejected. * Insurers understand that dealing with a particularly tragic event, such as an accident, or a natural disaster like a cyclone or a storm, is not an easy process. There are various things to take care of in the aftermath of such an event. One must ensure the safety and security of their loved ones and their immediate surroundings before taking other steps. In such a situation, one may not have the time or energy to raise the claim immediately after the event. For instance, a bad road accident may leave the policyholder hospitalized for days. They may not have the resources at hand to inspect the damage to the car or reach out and make a third party car insurance claim. When there is indeed a delay in making a claim, you must provide a valid reason for the same. If making the claim is not possible right away, it is advisable to contact the insurer and inform them of the situation. However, if the delay is not justified by the claimant, the claim may be rejected. *

Things to keep in mind to ensure speedy claim approval 

Even if there is a delay in making a claim, ensuring a few steps before and after can help you speed up the process. These steps include:
  • Choose a company with a high claim settlement ratio (CSR)

A high CSR in the car insurance industry means that the insurer is adept at settling policyholders’ claims. Choosing such an insurer increases the chances of your claim getting approved as well.
  • Opt for a digital claim settlement 

Insurance companies these days have features wherein you can raise the claim digitally. This reduces the overall claim time on your end.
  • Substantiate your claim

When you make the car insurance claim, ensure to attach photographs and videos that support your claim. You can even take photos of the event/situation that led to the claim being delayed.   *Standard T&C Apply  Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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