By Mr.Arun Balakrishnan, BerkshireInsurance.com
Purchasing a car or / a two wheeler requires significant investment of time & money. There is more to it than simply selecting the vehicle of your choice. It is equally important to buy insurance for your prized vehicle, before you drive off the lot.
Moreover, it is not enough to merely buy a policy and forget about it until a claim has to be made. For a claim to be cleared smoothly there is various paperwork one must take care of.
When one files a claim, the insurer tallies various details like the engine number, chassis number, fuel type, address & registration number with the registration certificate & the information given in the insurance policy.
If there is any mismatch, this may lead to claim rejection. Thus, one can not stress enough on getting the documents in order while getting the vehicle registered and drawing up a new car insurance policy.
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Mr. Arun Balakrishnan |
Post the purchase too there are certain points to be kept in mind. If one shifts to a new address within the same city or / state, the insurer must be intimated about the same. The relevant change should reflect on the vehicle registration certificate as well. Else, the claim may become liable for rejection.
Moreover, if the vehicle owner relocates to a different state & keeps the vehicle there for over twelve (12) months, it is necessary to get the registration of the vehicle altered.
If one informs the insurer of the change in address but fails to get it changed on the registration certificate, this would still obstruct claim settlement as the address on the insurance policy and the registration certificate would not match.
To change the registration, you need to obtain a no objection certificate from the RTO (regional transport office) of the state where the vehicle was originally registered. Then submit this to the new RTO along with other applicable documents and registration fees.
Some other facts to be notified to the insurer to maintain the validity of your auto insurance policy include change of ownership and modifications to the vehicle.
For instance, alterations to the engine must be intimated. Likewise, if a CNG kit is installed as an add-on the same should reflect in the RC as well as the policy documents.
Many of us tend to ignore the paperwork, but neglecting it can cause serious financial repercussions in case of theft or damage to your vehicle.
Investing some effort in the documentation process can you help avoid much hassle in case of an eventuality.
About the Author.!
Mr. Arun Balakrishnan is CEO at BerkshireInsurance.com
It is nice to know about the motor insurance deeply. Thanks Mr Arun and Berkshireinsurance.com
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