Car Insurance Tips - When Not to Claim your Insurance Policy

One of the central tenets of getting a car insurance policy is to feel comfortable in the knowledge that, when faced with damage or loss of your car, a simple claim on your insurance policy can potentially make the problem go away. Car insurance claim is supposed to be your first and most formidable defense against probable financial liabilities arising from any damage endured by your car, or the total loss of your cherished vehicle through theft or natural/man-made causes.

However, sometimes, raising a claim on your insurance policy might not be the best or most sensible thing to do. Whilst avoiding the ‘designated back-up plan’ could cost you some money, the long term benefits definitely weigh in the favor of not hitting the claim button at the very first instance. Relax, understand the situation and decide if the current problem deserves the involvement of your car insurance company. In essence, you must avoid raising a claim on your insurance policy for the following situations-

When Repairs are Minute and Can be Sorted out Quickly

A scratch, a broken headlight, mirror damage, minor paintjob, etc. are simple issues that can be effectively sorted out quickly and with little monetary inputs. These must be sorted personally without involving the insurer. Your insurance company attaches great significance to the number of claims you raise- the lesser the claims, the easier it is for the insurer to brand you a responsible driver and all the associated metrics will work in your favor. Plus, the policy premium amounts will not fluctuate and remain steady and predictable.

...Save the No Claim Bonus (NCB)

Your car insurance company rewards you with a No Claim Bonus (NCB) when you don’t raise a claim through a specified duration of time. If the cost of repairs involving your vehicle is substantially less than the applicable NCB amount, it makes sense to avoid registering a claim and lose a larger chunk of money in the form of the NCB at a later date.

Let the Third Party Pay for Everything…

If your vehicle was involved in an accident and suffered substantial damage, there are definitely only three succeeding options before you-

  1. Raise a claim on your insurance policy
  2. Pay for the damages from your own pocket
  3. File a third party insurance claim. Whilst the first two options will cost you money or perks from your insurer, they are essentially inevitable if the accident was caused by you. However, if the accident was caused by the other driver, option (3) makes the best sense. Third party insurance claim will avoid the financial liability from falling on your own shoulders, while keeping your unblemished track record with the insurance company intact and paying for the vehicle’s repairs.

Concluding , as the popular adage goes, 'with great power comes great responsibility’. A well equipped and professionally managed is definitely a great power that calls for immense responsibility. When the simple car insurance claim is your first line of defense against a costly bill, and a definite cause for complete peace of mind, it pays to use this option wisely.

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Car Insurance Tips - When Not to Claim your Insurance Policy Reviews

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  • Universal Sompo Car Insurance
    "Good Insurance"
    0.5 5.0/5 "Blown Away!"
    Taken my car insurance from Universal Sompo because the premium is less when i compared to other insurance provider, they have provided me a IDV value of Rs. 4 lakh. When i have done the cashless claim, they have sanctioned in 2 days. I'm getting renewal message in prior when the policy is getting lapsed. This is a first party insurance policy.
    Was this review helpful? 0
    , chennai
    Reviewed on Feb 20, 2020
  • Reliance General
    Reliance General Car Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    My friend has referred me about the car insurance from Reliance. I pay the premium amount of Rs. 10,200 for this policy. This is a third party insurance. My friend is working as a agent and he will renew the policy. I have not approached them for any kind of claim. They use to send the reminders to renew the policy.
    Was this review helpful? 0
    , tirupur
    Reviewed on Feb 20, 2020
  • Oriental Insurance Car Insurance
    "One of the best policy"
    0.5 5.0/5 "Blown Away!"
    My car insurance was selected from Oriental insurance since the branch office is located to nearby my office. I pay the premium amount of Rs. 6000 for that they are providing me a IDV value of Rs. 2.8 lakhs. This is a first party insurance. Even though i don't have any claim experience, they have not provided me any no claim bonus.
    Was this review helpful? 0
    , guwahati
    Reviewed on Feb 19, 2020
  • National Insurance Car Insurance
    "Good policy"
    0.5 5.0/5 "Blown Away!"
    For the economical and low premium purpose, i have chosen the two wheeler insurance from National. I pay the premium amount of Rs. 7000 every year and they are giving the IDV value of Rs. 4 lakh. I used to renew the policy in the branch nearby located to my place. I have no claim experience till now.
    Was this review helpful? 1
    , kolkata
    Reviewed on Jan 30, 2020
  • National Insurance Car Insurance
    "Excellent policy"
    0.5 5.0/5 "Blown Away!"
    TATA AIG car insurance is pretty awesome policy. So I have taken my car insurance from this company because they are providing me a bumper to bumper offer, comprehensive policy even if the car is 7 years old and this is the only company who provides this facility. To apply the claim is very easy in a single call. They have provided me 100% claim.
    Was this review helpful? 1
    , bangalore
    Reviewed on Jan 28, 2020
  • United India Car Insurance
    "Secure and fast claim"
    0.5 5.0/5 "Blown Away!"
    My car insurance was purchased from United India and i have been renewing the policy with the same company for last 5 years. My claim experience is very fast and there is no struggle in getting the claim. The person will come to the spot by the next day once we applied the claim. I got the claim upto 90%. I have been receiving the no claim bonus also.
    Was this review helpful? 1
    , kochi
    Reviewed on Jan 22, 2020
  • Royal Sundaram Car Insurance
    "Money waste policy"
    0.5 1.0/5 "Really Bad"
    I have taken my car insurance from Royal Sundaram at earlier but I'm not satisfied with their services. When i applied for my claim, they have taken most of the part and they didn't provide the cashless claim in their garages. Quality of service is not that much good. I bought the policy through online. They didn't promised their word.
    Was this review helpful? 1
    , chennai
    Reviewed on Jan 21, 2020
  • Oriental Insurance Car Insurance
    "Need to improve the service"
    0.5 4.0/5 "Great!"
    ORIENTAL INSURANE has provided a car insurance and they have provided me a better offer with the better quotation including the bumper to bumper offer so that i took the same and till now i never spoke with the customer care also. I have not approached for them for any claim. They have offered me a coverage value of Rs. 3.5L. I have renewed the policy in online.
    Was this review helpful? 1
    , chennai
    Reviewed on Jan 21, 2020
  • United India Car Insurance
    "Service is good"
    0.5 4.0/5 "Great!"
    Took my car insurance from United India based on the agent suggestion. I pay the premium amount of Rs. 3600 its because of the no claim bonus and some extra discounts. I have not applied any claim till now. From 7 years, i have been renewing the policy with the same company. They will give reminder call and I'm getting SMS from United India before the policy expiry.
    Was this review helpful? 1
    , jaipur
    Reviewed on Jan 16, 2020
  • New India Car Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    Chosen my car insurance from New India since its a government sector company and i have a known person over there. There is no cashless claim i had because there is a delay in that and it takes almost 1 week. They are giving claim upto 70% since my vehicle is old one. I pay the premium amount of Rs. 12500 on every year. They said they are providing a road side assistance and no claim bonus facility.
    Was this review helpful? 2
    , coimbatore
    Reviewed on Jan 16, 2020
  • Liberty Car Insurance
    "Wrost service ever "
    0.5 1.0/5 "Really Bad"
    My car in total loss and they have reject my claim. 2 months they have investigate case and after they reject. they says your car is sold by you . i am saying i have not sold and i have proof but they dont want to listen us. never buy from liberty insurance.
    Was this review helpful? 1
    , ahmedabad
    Reviewed on Jan 13, 2020
  • Iffco Tokio Car Insurance
    "Good Insurance Policy"
    0.5 4.0/5 "Great!"
    I have a zero claim experience for my car insurance from Iffco Tokio. Actually my friend has suggested me to take the car insurance from Iffco Tokio because he is working as a agent over there. I have paid the premium amount of Rs. 8000 for that they are providing the coverage value of Rs. 2.75 lakhs. I have no idea about the road side assistance and no claim bonus.
    Was this review helpful? 1
    , vapi
    Reviewed on Jan 06, 2020
  • New India Car Insurance
    "Good Insurance company"
    0.5 4.0/5 "Great!"
    Taken my car insurance from New India Assurance. When i purchased the car from the showroom that time they have provided this insurance which i'm continuing. Till now i didn't claimed anything and i have no idea about the coverage value. They are giving good customer support and wish to continue the same.
    Was this review helpful? 1
    , bangalore
    Reviewed on Jan 06, 2020
  • Reliance General Car Insurance
    "good service"
    0.5 5.0/5 "Blown Away!"
    I have chosen Reliance insurance as my friend is a franchise. I have taken a third party car insurance from them. I pay the premium of Rs.3000 on yearly basis. Even though it is a third party insurance, I can get upto 15lakhs. I will not get notification for renewal. I pay the premiumthrough online or directly to them.
    Was this review helpful? 1
    , bangalore
    Reviewed on Dec 27, 2019
  • Reliance General Car Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have taken a car insurance from RELIANCE GENERAL INSURANCE. It has some good benefits and the premium is low. I pay Rs.7,000 on yearly basis and also as no claim bonus options. It also includes garage benefits. I have no claim experience yet. I will get notification regarding the insurance from car showroom not from the insurance provided. I pay through online or cheque.
    Was this review helpful? 2
    , chennai
    Reviewed on Dec 22, 2019
  • Reliance General Car Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    Chosen my car insurance from Reliance. Because their office near by my work place, so that its easy to renew the policy. They have provided me IDV value of Rs. 4.50 lakhs and the provided premium amount was Rs. 9,500. This is a third party insurance. I have not applied for any claim till now. I have got the no claim bonus of 30%.
    Was this review helpful? 1
    , bangalore
    Reviewed on Dec 20, 2019
  • Shriram Car Insurance
    "Good Plan"
    0.5 5.0/5 "Blown Away!"
    1 month ago, i have purchased the car insurance policy from Shriram General Insurance. Since the premium amount was less, i have chosen the same. They have given me a documents on the same day. I have not got any no claim bonus. I have paid the premium amount of Rs. 19000. Its a third party cover policy.
    Was this review helpful? 2
    , chennai
    Reviewed on Dec 20, 2019
  • Iffco Tokio Car Insurance
    "Good Claim experience"
    0.5 4.0/5 "Great!"
    Earlier i had a car insurance with Iffco Tokio and had a claim experience. Since the premium amount is high and the IDV value is less hence i have changed the policy by next year. They have processed the claim in one week. They have cover upto 100% and i have paid only Rs. 500. I have paid the premium amount of Rs. 50000 for the coverage amount of Rs. 7.40 lakhs.
    Was this review helpful? 1
    , chennai
    Reviewed on Dec 18, 2019
  • Bajaj Allianz Car Insurance
    "Easy policy to take"
    0.5 4.0/5 "Great!"
    From Bajaj Allianz, i have chosen the car insurance policy. Its easy to claim hence my friend had recommended me about this policy. I have paid the premium amount of Rs. 30000. They are giving a IDV value of Rs. 6.90 lakhs. Its a zero depreciation policy. I do not have any claim experience as of now.
    Was this review helpful? 1
    , chennai
    Reviewed on Dec 18, 2019
  • Oriental Insurance Car Insurance
    "Good Service"
    0.5 5.0/5 "Blown Away!"
    Chosen my car insurance from Oriental because their office is located next to my office. I had a claim experience once and it was very good. They have provided the claim immediately as per the spot instruction. They provided me a 100% since its a zero depreciation policy. I used to visit their branch to renew the policy.
    Was this review helpful? 1
    , coimbatore
    Reviewed on Dec 17, 2019
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