The rising number of road accidents is a serious concern in India. With increasing vehicles and traffic congestion, the risk of accidents has grown significantly. In such situations, car insurance becomes a crucial safeguard, providing financial protection and support when accidents occur.
Road accident insurance ensures that car owners are not burdened with the heavy costs associated with damages, injuries, or fatalities.
This blog explores the critical role of car insurance in road accidents, highlighting its benefits, the claim process, and essential tips to remember.
Road Accident Statistics in India
The Ministry of Road Transport and Highways, in its latest
report on road accidents recorded in India in 2022, shows how crucial it has become to invest in the right car insurance for all car owners. Here is a summary of the report:
Union Territories and States reported as many as 4,61,312 road accidents.
A total of 1,68,491 individuals died in these accidents.
4,43,366 individuals were injured in these accidents.
There was an increase of 15.3 percent in injuries, 11.9 percent in accidents and 9.4 percent in fatalities, in comparison to 2021.
Why has the Government made a Third-party Insurance Policy Mandatory in India?
The government mandates third-party insurance to ensure financial responsibility in the event of accidents.
This requirement protects victims by guaranteeing compensation for injuries, property damage or fatalities caused by an insured vehicle.
It also promotes responsible driving and reduces the financial strain on the car owner.
The Role of Car Insurance in Road Accidents
Car insurance plays a vital role in managing the aftermath of road accidents. Here’s how it helps:
Financial Support
Road accident insurance covers the costs of repairs, medical expenses and compensation claims, reducing the financial burden on the car owner. Note that the type of coverage and the beneficiary depends on the type of car insurance policy you choose.
Third-Party Policy Support
A
third-party car insurance policy provides coverage for damages or injuries caused to another person or their property. It ensures that the affected party receives the necessary compensation.
Own-Damage Policy Support
An
own-damage Insurance policy covers your vehicle’s damage and your personal injuries. It includes repair costs, medical bills and other related expenses.
Network Garages and Cashless Support
You can ensure cashless repairs at network garages. If you have a standalone own-damage cover or comprehensive insurance, you can get cashless repairs if your car is damaged in a road accident.
How to Claim Car Insurance After a Road Accident
Filing a road accident claim can be straightforward if you follow these steps:
For Third-Party Claims
Inform the Insurance Company
Notify Reliance General Insurance immediately after the accident.
File an FIR
Lodge a First Information Report (FIR) at the nearest police station.
Gather Evidence
Collect evidence such as photos, witness statements and accident details.
Submit a Claim
Provide the necessary documents to your insurer, including the FIR, claim form and evidence.
Claim Processing
The insurer will investigate the claim and coordinate with the third party for settlement.
Motor Vehicles Tribunal
In cases of severe injury, death, or significant property damage, the road accident claim might go to a Motor Accidents Claims Tribunal. The tribunal will evaluate the case, determine the compensation amount and ensure a fair settlement.
The process involves submitting all relevant documents, attending hearings and following the tribunal’s directives. The maximum compensation for property damage is ₹7,50,000.
For Own-Damage Claims
Inform the Insurance Company
Report the accident to Reliance General Insurance promptly.
File an FIR
Register an FIR if there are injuries or significant damage.
Document the Damage
Take photographs and gather evidence of the damage.
Submit the Claim
Fill out the claim form and submit it along with the FIR, evidence and other required documents.
Survey and Repair
The insurer will send a surveyor to assess the damage. Once approved, you can get your car repaired at a cashless network garage.
Claim Settlement
We will directly settle the repair costs, as per the policy terms, with the garage.
Also Read:
How to File a Claim for Car Insurance
Documents Required for Road Accident Claims
When claiming insurance for a car accident, ensure you have the following documents:
Filled claim form
Copy of the insurance policy
FIR/ Police Panchnama (in case of third-party physical injury or death/ property damage).
Motor Driving Licence, both copy and original, of the one driving the vehicle at the time of the accident.
Vehicle registration certificate (RC) copy (or Tax receipt for a new car)
Repair estimates (for own-damage claims)
Payment receipts and repair bills after completion of the repair job (if repairs are done at a non-network garage)
Medical receipts (if applicable)
Photographs of the accident and damages
5 Things to Remember After a Road Accident
Here are some crucial tips to keep in mind after an accident:
Stay Calm
Keep calm and assess the situation.
Check for Injuries
Ensure everyone is safe and seek medical help if needed.
Move to Safety
If possible, move the vehicles to a safe location to prevent further accidents.
Call the Authorities
Inform the police and provide accurate details.
Exchange Information
Share contact and insurance details with the other party involved.
Gather Evidence
Document the scene with photos and collect witness statements.
Notify Your Insurer
Get in touch with Reliance General Insurance within 24 hours of the accident to intimate the car accident claim.
Provide your vehicle number or policy number to initiate the claim. Take the vehicle to the nearest garage authorised by us under our cashless network garages for repair.
Conclusion
Car insurance is indispensable in today’s world, offering essential protection and peace of mind to car owners. It not only helps manage the financial implications of accidents but also ensures compliance with legal requirements.
Understanding the importance of road accident insurance, the claim process, and the necessary steps to take after an accident can significantly ease the stress during such incidents. Ensure you have the right
car insurance coverage to safeguard yourself and others on the road.
Reliance General Insurance’s
Comprehensive Car Insurance offers you the advantage of bundling together the benefits of third-party and own-damage policies. Under this policy, you can enjoy the benefit of add-on riders, avail substantial discounts on your premium costs and much more.
Frequently Asked Questions
What is the difference between third-party and comprehensive car insurance?
Third-party insurance covers damages or injuries caused to others, while comprehensive car insurance covers both third-party liabilities and damages to your vehicle.
How long does it take to process a car accident claim?
The time to process a car accident claim varies, but it typically takes a few hours to a few days, depending on the complexity and documentation.
Can I claim insurance if I was at fault in the accident?
Yes, you can claim under your car insurance policy, which covers your vehicle’s damage regardless of fault. However, third-party insurance claims are for damages to others when you are at fault.