When Should You Not File Motor Insurance Claims

You have purchased an insurance cover for the motor vehicle you own. However, do you know when to file a claim? Does it make sense to file a claim in case of a minor accident, which has not led to any injury?

When you file a motor insurance claim, it will have an impact on the premium for a long period. However, it is not possible to know the exact rate or period.

If you are an owner of a motor vehicle and have motor insurance for the same, you must keep the below-mentioned tips in mind to decide if you need to file for a claim or not.

  • If you are involved in a car accident but you are not injured and the damage to the vehicle is also minor, then it is best to think twice before you file a claim for the accident
  • If you can afford to pay for the damages to the vehicle out of your own wallet, you might want to skip filing the claim
  • In case of damage to the vehicle, consider the cost of repair. If the estimated cost of repair is lower than the insurance deductible, it will be beneficial for you to avoid filing the claim
  • If there is no risk of a lawsuit or a personal injury, then you should avoid filing a claim
  • Incase of an accident, which does not involve any medical help, and if there is any medical assistance required that you could afford on your own, then it is best for you to not file the claim.

There are many repair expenses, which you can pay on your own and it is not worth having an accident added to the history of your insurance claim. If you file an insurance claim repeatedly, you might have to pay a higher premium in the long run.

Importance of No Claim Bonus (NCB)

An NCB is an important part of your insurance policy. It is a reward to you for using your vehicle with care. It is a discount in premium, which is offered to you at the time of motor insurance renewal. 

If you do not make a single claim during the tenure of the policy, you will be able to benefit from the NCB. You can carry forward the NCB to a different company or for another vehicle, provided you have a confirmation letter from the insurance company.

You can buy motor insurance online for your motor vehicle. It is advisable to compare the available plans and then make the final decision. You need to be careful when choosing a plan for your motor vehicle.

You should be cautious when it comes to filling a claim for the same. Do not file a motor insurance claim without considering the cost of damages to the vehicle.

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