Can I Claim Car Insurance for Dents and Scratches?
One of the main reasons people buy car insurance is for protection. If you get involved in an accident while driving, you can file a claim and get a reimbursement for the damages your car incurred. However, one has to remember not every type of insurance covers damages for your own car.
For example, if you have only a third party liability policy, then you may not be able to claim for damages to your car, as it is meant exclusively for third party vehicles only. You can claim for dents and scratches to your car only when you have a comprehensive car insurance policy. However, you have to analyze the extent of damage and consider if filing a claim for minor damage such as scratches is worth, as claiming for small damages would result in a higher premium.
Mentioned below are the consequences of filing car insurance claim for minor damages like Dents and Scratches,
No Claim Bonus
No Claim Bonus is an incentive that the company provides for not pressing claims during the coverage period. It results in reduced premiums. However, by filing a claim for scratches and other types of minor damages, you run the risk of losing out on this privilige. It is always advised to pay out of the pocket for small damages like dents and scratches in order to avoid losing a precious offer like No Claim Bonus, which will reduce your premium by a considerable margin.
Deductibles
Deductibles are the small components which you can pay out of the pocket at the time of claim settlement. The rest of the claim amount is settled by the insurance company. If you opt for a high deductible, you will have to have to pay a hefty amount for the same.
For example, if you car suffered a dent, and for repairing the same, the garage is charging Rs. 3000. If you have opted for a deductible for Rs. 2000, and are raising a claim with it, then the insurance company will settle only the remaining Rs. 1000. So, before raising a claim, it is important to know the deductible amount that you will have to pay and whether it is advantageous to you from a financial standpoint or not.
Impact on Premium
Raising claims have a heavy impact on future premiums. If you raise frequent claims on your car insurance for minor damages like dents or scratches, then it leaves an impression that you are not a safe driver. In that case, the insurance company may charge a higher premium for your car insurance as you are a liability in their point of view.
Conclusion
The decision to raise a claim for minor damages such as dents or claim rests entirely on you. Every claim you raise will have an impact on your future premium. So, it is better to take care of minor damages from your pocket and leave the insurance part for heavier damages.
