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Types of Insurance At Royal Sundaram And How To Claim It?

Published On Jul 21, 2021, Updated On Jul 22, 2021

In this article, you can read about the types of car insurance policies available at Royal Sundaram along with easy methods of claiming it.

It is quite vital to get a vehicle insurance policy that provides you with optimum coverage. This will necessitate an understanding of the sorts of policies available to you. You will learn about the varieties of car insurances offered at Royal Sundaram with simple procedures to file a claim settlement. 

Types of Insurance At Royal Sundaram And How To Claim It?

Types of Car Insurance Policies At Royal Sundaram General Insurance

IRDAI (Insurance Regulatory and Development Authority of India) is India's regulatory agency for insurance businesses. It establishes the regulations and supervises insurance businesses. According to this regulatory organisation, you may presently acquire two types of basic insurance plans for your car. At Royal Sundaram General Insurance, you can choose between the following types of car insurance policies -

  • Third Party Policy

According to the Indian Motor Vehicle Act, having third-party insurance is required for all car owners in order to lawfully drive their vehicles on the road. It is a liability-only policy. The basic third-party car insurance coverage offers financial protection to pay the third party for losses sustained in the event of an accident involving the policyholder. The insurance company from which you acquired your policy is obligated to pay you the amount necessary to reimburse you for the damages caused by the third party's car. It does not, however, cover the policyholder in any manner.

  • Package Policy 

At Royal Sundaram General Insurance, ‘Package Policy’ is the term given to comprehensive car insurance. It is one of the most optimal coverage options available. It protects the insured financially and includes third-party liability coverage. This implies that the insurance company will pay the settlement amount to the policyholder in the event of non-road unintentional damage, natural catastrophe, fire, or vandalism to his/her car. The comprehensive insurance coverage also includes a compensation sum in the event that your car is stolen. You will, however, get the sum equivalent to the IDV (Insured Declared Value) of your car. It will also offer you financial protection in the event of an accident, allowing you to pay recompense for the damages done by the third party's car.

You may also like to read:- What Happens To Acko Car Insurance When The Policyholder Dies?

Simple Steps To File A Claim Settlement At Royal Sundaram General Insurance

The process of filing a settlement claim at Royal Sundaram is easy and painless. You can claim your car insurance by following the procedures outlined below -

  • In the event of an accident, the first thing you should do is register an FIR with the local police station and obtain a copy of it.
  • Inform  Royal Sundaram General Insurance via phone or email, as listed on their official website.
  • After that, they will send a survey team to check your car’s condition and investigate the cause of the accident or the damages. 
  • After the car has been inspected, it will be transferred to a cashless facility to begin repairs.
  • In the event that a third party's vehicle causes bodily harm or damage, you will be compensated for your losses.
  • You will be able to properly claim your car insurance at Royal Sundaram General Insurance this way.

Also Read:- Parameters To Consider While Purchasing Car Insurance In India 

Take Away

Your car is your most prized asset. You will use it to drive on the roads, no matter how hard you attempt to preserve it. The number of cars on the road in India has significantly grown, resulting in an increase in the number of traffic accidents. As a result, it has become mandatory for all car owners to get car insurance coverage because we all know how exorbitantly costly it is to repair the damages incurred by your car in the event of an accident.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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