Bharti AXA Car Insurance Claim

An insurance claim is raised by a policyholder to the insurance company to compensate for the damages caused after an accident. A policyholder needs to pay a certain sum as premium every year to be eligible for claim. Claim settlement is a thorough procedure through which policyholder gets his claim processed. A smooth and easy claim settlement process goes a long way in ensuring customer satisfaction and retention.

List of Documents Required During Claim Settlement

The following documents are mandatory for claim settlement:

• Self-attested registration certificate
• Valid Insurance policy
• KYC Document (For loss above Rs. 1 Lakh)
• Driving license
• Original claim form to repairer or surveyor for verification against the originals.

While making a claim, you need to consider the following points to prevent your claim from getting rejected. The insurer could reject a claim for the following reasons:

1. Accidents due to negligence of the policyholder

If the accident has happened due to policyholder’s negligence and carelessness, the insurer may not approve the claim.

2. No medical aid availed at the first hour of the injury

It is necessary to get medical aid as soon as possible after the accident, otherwise, the company may question the reason and can also refrain from rendering claim.

3. Expired policy

The company is not entitled to cater to the claim amount if the policy is not active. One needs to renew his/her car insurance policy within the stipulated time period.

4. Giving false information in the policy

Hiding any detail or giving false information in the policy document often results in wiping out the benefit of the insurance.

5. No proof of the accident

If you fail in establishing the fact that the damage is caused by an accident or if there is not sufficient evidence, then the company will not initiate the claim.

Bharti AXA No Claim Bonus

Like every esteemed insurance company, Bharti AXA also gives a No Claim Bonus as a token of reward to its policyholders for not making any claim in a policy year. This benefit is helpful in reducing the premium of the next policy year. With every claim-free year, the discount of NCB benefit increases but even a small claim in a policy year can disable it. However, the NCB is applicable only on the standalone own-damage car insurance policy as well as comprehensive car insurance policy. The discount range of Bharti AXA No Claim Bonus starts from 20% and goes to a maximum of 50% with subsequent claim free years.

To keep your No Claim Bonus growing without any hassle, you always need to renew your car insurance policy either on time. However, if you fail to renew at the stipulated time, then the insurance company can offer you a grace period of 90 days from the expiry date within which you should renew your car insurance plan otherwise your NCB benefit could become null and void. Also, you should know that NCB is granted to the policyholder for safe driving and not to the insured car, hence, you can get it transferred to your next car which you must keep in mind while selling your car or purchasing a new car. As we know that even a small claim can make this benefit terminate, hence, you must refrain from making any small claim at least and should bear minor damages on your own.