Claims
When an insured party suffers a loss that is covered by his insurance policy, he will request the insurance company to reimburse him for the loss. The compensation he receives is called a claim. The loss must be covered under the listed insured perils (risks) in the insurance policy. In the case of a car insurance claim you will lodge a claim when you have been injured in a car accident or your car suffered damage.
As an insured party you have a legal right to ask for repair or replacement of the insured item. The big issue is to ensure that the actual risk which resulted in the loss is covered in your policy. For example, if you have third party insurance only you cannot claim for any damage to your own car or for your own injuries as this is not covered under the terms of the contract.
Lodge your claim as soon as possible after the event that gave rise to the claim. The insurer may first have to investigate the claim before payment can be made. Check your policy for details of the claims procedure. If it is an item covered under all risks you may be required to report the incident to the police within 24 hours. The normal period for making a claim is usually 30 days.
You need to follow your insurer’s claims procedure. Some companies have forms available on the internet which you can complete and fax as the insurance company requires your signature on the claim form.