All You Need To Know About First Notification of Loss in Car Insurance

Car insurance is an agreement between the policyholder and the insurer where the latter promises to compensate for the losses if the car meets with an accident or any unforeseen circumstances that result in the damage of the vehicle. In India, third-party car insurance is mandatory for all as per the Motor Vehicles Act of 1988. With car insurance, policyholders do not just get financial compensation for any damages done to the car, but also get compensation for third-party liabilities. So, in case you have purchased a car insurance plan and need to raise a claim against it, then you need to first ask your insurer. Let us address all about the first notification of loss in car insurance. 

What is the First Notification of Loss in Car Insurance?

In case your car has met an accident or is lost, then you first need to inform your insurer. This process of informing your insurer is referred to as the ‘First Notification of Loss in Car Insurance’ or FNOL. This process basically serves as the initial notice period that is given out to the insurer. So, under any circumstances, if your car is lost, damaged, stolen, or meets any other unforeseen circumstances, then make sure to first notify your insurer about this. 

Documents Required to File First Notification Of Loss In Car Insurance

As the first step to raising a car insurance claim, you need to inform your insurer and get your claim process initiated. Now, in order to raise the claims, you need certain documents such as the following:

• Car insurance policy number
• Car insurance policy papers
• FIR number
• Date and place of the car accident
• Details related to the car such as chassis number, registration number, etc
• Third-party details in case a third party is involved in the accident
• Driving license

Benefits of First Notification of Loss in Car Insurance

Some of the benefits of First Notification of Loss in Car Insurance are as follows:

• First Notification of Loss in Car Insurance is important as it helps to build trust with the insurer. You must thus inform your insurer about any uncertainties on time to your car insurer.
• The First Notification of Loss in Car Insurance is also helpful in getting your claims settled on time. On informing about the loss on time, the claim settlement process will then get started instantly. Thus, the First Notification of Loss in Car Insurance helps in a faster claim settlement.
• Once you have completed the FNOL process, then it becomes the responsibility of the insurer to take care of the expenses later on. This means that you will be free from worrying about financial losses. 

For filing a First Notification of Loss in Car Insurance, you can inform your insurer via a call, email, or by visiting the nearest branch office of your car insurance provider. However, make sure to provide the insurer with the right information so that there is no discrepancy in the future. After FNOL, there will be an inspection process during which your vehicle will be inspected by the surveyor to assess the total damage. Finally, after checking all the policy details, your car insurance will be approved. 

Take Away

So, in order to get your claim settled on time, make sure to inform your insurer about the loss through the First Notification of loss in Car Insurance or FNOL process. This step is essential for all car insurance policyholders.

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All You Need To Know About Vehicle Scrappage Policy in India