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Insurance is an integral part of the personal security of a person which can take up many forms such the life insurance, vehicle insurance, health insurance and many others. The process of claiming the insurance incurs a lot of steps in which many people are not aware of the following factors which is going to be discussed are in order to make the claims processing faster and efficient. Being more precise, we would discuss the factors associated with the Vehicle Insurance policy and ways to make claims for insurances under this policy. Firstly, as per the Motor Vehicle Act of 1988, states that every running vehicle must have an insurance policy against its vehicle or else if caught red handed shall be penalized. Secondly, knowing the process through which the motor vehicle policy claims processing can be made makes the whole process much easier. Claims can only be made when you incur a loss. Losses can be classified into various categories which the client must be aware of before making the claims. Third party losses are those losses where the insurance cover is guaranteed by the third party cover under whom the act of loss has taken place. Damage of vehicle under one's own cause is a situation where you are at fault, and these claims cannot be made such as in the case of stolen or self-caused damage. Such insurances are only covered by the comprehensive form of the insurance policies. Such claims processing actions are hence required. There is one major thing which one must do after an accident has taken place,i.e., making the third party claim by immediately informing police and the insurance company after the accident has taken place. Intimation should also be made instantly to the insurer after the insurance details of the vehicle. Theft claim is another type of claim which is made immediately after you come to know that the vehicle is missing hence it might be theft. Here the police, transportation department as well as the Insurance Company must be informed. Own damage claim is the type of claim where the police and the insurance company is informed to send a surveyor to check and give the estimations of the loss. The vehicle should not preferably be moved from the accident spot without the police's permission and the insurance company people come for a scrutiny. These claims processing ideas should always be kept in mind before going for a claim. Get more information on: Claims Processing & Insurance Quotes
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