How to Deal with Fender Bender or Small Car Damages?
So you just reach the nearest store to buy grocery for dinner. You rush to the store, buy things and then go back to your vehicle. You subconsciously put your vehicle in the reverse gear because your mind is occupied with hundreds of other thoughts. You start to begin rolling backward before looking in the mirror, and then it happens— parking lot fender bender.
In fact, in every day to day driving, small damages occur to our cars, like bumper damage, tail light damage, battery issues, etc. According to a report published in the Times of Report a few years ago, the cost of repairing damaged car shields and bumpers accounted for around 60% of the claim amount that insurance companies paid …show more content…
He got out of the car to check the damages, and when there were no visible signs, he drove away. A few days later his car’s tyre showed excessive wearing, and he went to the mechanic to get its replacement. Then the mechanic asked, “Did you drive through uneven roads” It reminded him of a minor accident which happened a week ago. Due to the impact of the accident, the entire section of the tyre got bent down. At the time of the accident, the damage was minor, but underneath, the car suffered major damages. He paid a huge amount for its …show more content…
Besides being unsightly, minor damages may also cause financial losses. For instance, the cost of removing a scratch could fall between Rs 3000-4000. Still, is it worthwhile to approach a car insurer for the claim settlement? Let’s find out
If you are living in a city like Delhi and Mumbai, it is common to meet with small accidents or at least end up with a few scratches on your car. In most of the cases, people file a car insurance claim. Though, it is good to know that you have a car insurance policy, you should avoid approaching the insurer if the repair cost is lower than the No claim bonus (NCB).
If you have not made any claim on your car insurance, the insurer will give a discount on the next year’s premium. This discount is known as a ‘no claim bonus’ (NCB). A car insurance premium has two components: Own damage premium and third-party premium. NCB discounts are applicable on own damage premiums, which comprise more than 80% of the total premium.
NCB rates
For all types of vehicles % discount on own damage premium
After one claim-free year
So you just reach the nearest store to buy grocery for dinner. You rush to the store, buy things and then go back to your vehicle. You subconsciously put your vehicle in the reverse gear because your mind is occupied with hundreds of other thoughts. You start to begin rolling backward before looking in the mirror, and then it happens— parking lot fender bender.
In fact, in every day to day driving, small damages occur to our cars, like bumper damage, tail light damage, battery issues, etc. According to a report published in the Times of Report a few years ago, the cost of repairing damaged car shields and bumpers accounted for around 60% of the claim amount that insurance companies paid …show more content…
He got out of the car to check the damages, and when there were no visible signs, he drove away. A few days later his car’s tyre showed excessive wearing, and he went to the mechanic to get its replacement. Then the mechanic asked, “Did you drive through uneven roads” It reminded him of a minor accident which happened a week ago. Due to the impact of the accident, the entire section of the tyre got bent down. At the time of the accident, the damage was minor, but underneath, the car suffered major damages. He paid a huge amount for its …show more content…
Besides being unsightly, minor damages may also cause financial losses. For instance, the cost of removing a scratch could fall between Rs 3000-4000. Still, is it worthwhile to approach a car insurer for the claim settlement? Let’s find out
If you are living in a city like Delhi and Mumbai, it is common to meet with small accidents or at least end up with a few scratches on your car. In most of the cases, people file a car insurance claim. Though, it is good to know that you have a car insurance policy, you should avoid approaching the insurer if the repair cost is lower than the No claim bonus (NCB).
If you have not made any claim on your car insurance, the insurer will give a discount on the next year’s premium. This discount is known as a ‘no claim bonus’ (NCB). A car insurance premium has two components: Own damage premium and third-party premium. NCB discounts are applicable on own damage premiums, which comprise more than 80% of the total premium.
NCB rates
For all types of vehicles % discount on own damage premium
After one claim-free year