TATA AIG Car Insurance Claim Process & Settlement Ratio

Founded in 2001, Tata AIG General Insurance Company Limited offers a range of general insurance products, including motor, personal accident, home, travel, business, property, and more. Tata AIG offers car insurance offers protection for financial losses due to unforeseen accidents. The company has a 5,400+ network of cashless garages pan India and has covered 190+ covered. Tata AIG has served more than 5 Cr customers since its inception.

Continue reading to know more about the Tata AIG settlement ratio and claim process.

TATA AIG Car Insurance- Highlights

TATA AIG Car Insurance Claim Process

TATA AIG has an easy, transparent, and hassle-free car insurance claim process. The coverage of a claim depends on two things – one is the type of your Tata AIG car insurance policy, whether you had opted for a third-party cover or a comprehensive car policy, and the second is add-ons opted by you (if any).

Filing an online claim on your car insurance policy through TATA AIG is a quick and convenient process. Given below are the steps to follow to initiate your car insurance claim process.

• Visit the Tata AIG Insurance official website.
• Next, click on the “Claims” section placed on the top right-hand side of the car insurance homepage.
• Fill up the online claim form providing basic details, such as your car insurance policy number, contact details, and some information about the incident.
• After that, the insurance provider immediately initiates the verification and claim process. Tata AIG also enables you to track your claim status for more transparency.

TATA AIG Claim Settlement Ratio

The claim settlement ratio is a very important factor to consider when choosing an insurance provider. The claim settlement ratio refers to the percentage of claims settled by an insurance company out of the total claims received in a year. A high settlement ratio indicates that the insurer has a great track record of honoring genuine claims, providing peace of mind to policyholders.

TATA AIG features an impressive claim settlement ratio of 98% with a quick and seamless process. People, who have a valid Tata AIG car insurance policy, can raise a claim for damages caused to their vehicle and get a prompt and swift disbursal of the claim amount.

It is important to note that the claim settlement ratio for a particular insurance provider can vary from year to year, depending on various factors like claims volume received, the nature of claims, and the insurer’s efficiency in processing and settling claims. Therefore, it is advisable, whether you are a prospective or an existing policyholder to consider the insurer’s settlement ratio over the past few years to evaluate their consistency in claim settlements.

Tata AIG Car Insurance Cashless Claim Process

TATA AIG provides cashless claim settlements for insured’s cars through free repairs and replacements in its network garages. Policyholders can save hefty bills on repairs and replacements for the insured’s vehicle by following the simple steps given below.

• Contact your insurance provider– The first step in initiating a car insurance claim process with TATA AIG is to report the incident (involving an insured vehicle) immediately after it occurs. Instant reporting of the incident is crucial to ensure a hassle-free claims process.
• Register claim– Following the incident report, the policyholder is required to register for the claim by submitting relevant documents. The support documents usually include the claim form, a photocopy of the insurance policy, the vehicle’s registration certificate, and a valid driving license, along with any other evidence related to the accident or damage caused to the vehicle
• Survey the damages– After receiving the necessary documents, the team of TATA AIG will appoint a surveyor to assess the extent of the loss or damage. The surveyor will investigate the incident and prepare a report, which plays a crucial role in determining the claim amount.
• Claim settlement– Once the surveyor’s report is received and verified, TATA AIG will proceed with the claim settlement process. In case of a cashless claim, the policyholder will have to take their vehicle to the network garage to get it fixed.

For a non-cashless claim, if the claim is valid and approved by the insurance provider, the policyholder will receive the agreed-upon compensation amount as per the terms and conditions of the motor insurance policy.

Documents required for claim settlement

To file a car insurance claim with Tata AIG, the policyholders have to submit the below- listed documents:

• Photostat of the driver’s license
• A duplicate copy of the policy documents
• The original keys to the vehicle
• A photocopy of the insured vehicle’s Registration Certificate (RC)
• A valid and verified mimeo of the First Information Report (FIR)
• The correctly filled and signed car insurance claim form
• Non-Traceable Report/certificate (NTC) from the police in cases of theft where the vehicle has not been recovered 
• In case the insured car has an active loan, the policyholder has to provide NOC and Form 35 from the lender 
• Duly signed RTO transfer papers, along with Form 28, Form 29, and Form 30.

What are the common Tata AIG Car Insurance Claim Rejection Reasons?

There are certain conditions put forward by Tata AIG that the policyholders must fulfill to settle the car insurance claims faster. Your car insurance claim can be rejected by the motor insurance provider under the following conditions:

• Driving under the influence of alcohol/drugs 
• Act of negligence
• Driving without a valid driving license
• Misinterpretation of car insurance policy facts
• Filing a fake claim
• Claim registration for the wrong coverage amount
• Improper functioning of the vehicle parts
• Lack of mandatory details required to process the claim settlement 
• Delay in reporting the incident the insurer

Know More About Other Popular Insurance Companies