We know nobody wants to get involved in a traffic accident, but it is crucial to know what to do if you ever get into one. It doesn’t matter if you’re the cause of the crash or not, there are things you should know when you make an auto insurance claim.
There are a few types of car insurance claims you can make in the event of an accident. Each claim has different conditions, advantages and disadvantages that everyone should know to protect you and your asset.
Here are the types of car insurance claims you should be aware of:
Own damage (OD) claim
Here’s the situation: you got into an accident, and it’s your fault. Unfortunately, the only insurance claim you can make in this situation is the own damage claim.
This situation means you’re claiming your insurance policy. The downside to this is you’ll lose your No Claim Discount (NCD) entitlement. Once the appointed panel workshop receives the necessary documents from your insurer, repairs will begin.
What happens if someone else is at fault for the accident? If this happens, you can make a third-party claim, and you get to keep your NCD entitlement.
For a third-party claim, you can submit a claim to the insurance company of the person at fault. However, this may take a longer time as it involves another insurance company and your insurer can’t act on your behalf. You’ll need to make repairs on your car first, and make a third-party claim against the person at fault.
No-fault damage claim
Lastly, there’s another way to make an auto insurance claim. If you’re not responsible for the car crash, but you’re want to be quick with the claim, you can make a no-fault damage claim.
The no-fault damage claim is done by making a claim is to submitting directly to your insurer. This process is much faster than chasing after the other party’s insurance company, and your insurer will help you throughout the whole process. You’ll also get to keep you NCD entitlement.
No matter what kind of accident you are in, or what auto insurance you plan to claim, it is crucial to make a police report and notify your insurance company within 24 hours of the crash. Some people may attempt to settle the situation outside legal means, but it’s essential to contact the proper authorities for your safety and well being.
Visit https://www.aig.my/personal/auto-insurance if you need help with car insurance or making a claim.