Some companies give a maximum of seven days from the date of the accident to the insured to file the claim. However, this time frame may vary depending on the insurer and the claim status.
There must always be a question in the mind of car or bike owners that is there any time limit for claiming insurance for any damage caused to vehicles due to accident? Well, there is no time limit for filing such ‘own damage’ claims in the existing rules under the Motor Vehicles Act. Also, if you have an active policy, you can file a claim even months after the accident. However, in such a case, they will have to give reasons for the delay in claims.
Read Also: Know this before taking a car insurance policy, otherwise the claim may be rejected
It is to be noted here that some companies give maximum seven days time from the date of accident to the insured to file the claim. However, this time frame may vary depending on the insurer and the claim status. An insurer cannot dismiss a claim outright for delay in filing.
All companies have different time limits
Suri, Managing Director and CEO, IFFCO Tokio General Insurance told Mint, “There is no time limit in our motor policy. However, the insured must report the accident within seven days of the accident. Some insurance companies give 48 to 72 hours from the time of accident to file the claim.
Read Also: Why don’t car insurance companies cover non-accidental damage cars?
Do you know, Hence claims are rejected
Insurance companies generally follow the same time-frame to maintain viability in their writing process and track record of claims. The insured is asked to inform about the accident within the given time. If they cannot justify the reason for the delay, the insurers can reject the claim.
Keep these things in mind while taking insurance
The most important thing is that while taking insurance, the service-conditions given by the insurance company should be read carefully. Most of the people do not pay attention to this. This is a big mistake. Therefore, while taking insurance, all the papers should be read carefully. Companies also upload information related to insurance on their websites. You can also read the terms and conditions on the website.
