Steps involved in preparation of accident survey report: Whenever an accident occurs all particulars have to be collected for purpose of preparing a report known as accident survey report. While applying for insurance claim to insurance company when the vehicle is met to an accident or damaged due to any natural calamity, an Accident survey report is required to be attached with application form. It is prepared by the surveyor appointed by the insurance company.
1) Whenever an accident occurs all particulars have to be collected and ascertained as given belowa) General: Site, date and time of accident
b) Registration no. of vehicle involved in accident
c) Nature of Accidents - Collision with or avoidance of overturning or any other kind of accident.
d) Primary Cause of accident - Fault of driver or pedestrian, defective road surface, other cause, unknown.
e) Light condition- Daylight, dusk, dark with good street light, dark with no street light.
f) Road condition- Straight, bend, intersection, flat, dry, wet, hill, concrete, earth road.
g) Traffic condition- Dense/light/moderate traffic, controlled junction, uncontrolled junction.
h) Responsibility of driver- Sex, age, driving experience, intoxicated, asleep or inattentive, Speeding.
i) Responsibility of Pedestrian- Age, deaf, blind or otherwise walking on road, crossing or Running into road, intoxicated, confused by traffic, talking in roadways.
j) Particulars of motor vehicle- Age of vehicle, overload, and defective brakes, defective steering, puncture or burst, other serious mechanical defects.
k) Causalities persons killed/ injured- Rider of motorcycle, passengers other than driver or rider, cyclist, pedestrian, not known. 2) Assess the quantum of loss.
2) Determine the liability of the insurers within the framework of policy conditions.
3) Negotiate with the insurer/advise the insurers regarding the disposal of salvage.
4) Prepare the detail survey report and submit it to the insurer
Procedure of Valuation: The process of determining the current worth of a vehicle is called as valuation. There are many techniques that can be used to determine value, such as subjective and objective
1) Know the current market value of vehicle
2) Calculate the depreciation of vehicle based on market value. for this consider –
i) Make, Model and Variant e.g. Maruti Swift VDi
ii) Month and Year of Manufacture e.g. July 2009
iii) The city in which the car was registered.
3) Calculate the depreciation of vehicle based on usage and aging.
4) Analyze the mechanical condition and damage occurred with respect to Body,
Chassis, and Aesthetics, Engine condition, vibrations, noise etc. 5) Consider the Tyre condition and decide tyre cost.