Car Theft? Here's How You Can Make A Claim
Updated On Oct 17, 2023
Your insurance will cover you up to the IDV (Insured Declared Value) of your four-wheeler if it is stolen.
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A comprehensive vehicle insurance policy provides more coverage than a standard third-party car insurance policy. In addition to third-party coverage, the latter includes coverage for personal property damage or loss caused by an accident or disaster.
Theft of a vehicle? Here's How To File A Claim
A comprehensive automobile insurance policy provides additional coverage than standard third-party liability insurance. It covers 'own' damages and losses in the event of an accident, in addition to third-party damages. Man-made disasters, such as theft, are also included. Your insurance will cover you up to the IDV (Insured Declared Value) of your four-wheeler if it is stolen. However, if your automobile is stolen, you must make a claim with your insurer to be paid. To minimize any delays or anomalies in acceptance, the claim should be made as soon as possible after the vehicle has been stolen. To do so, you must first have a thorough understanding of how to file a claim. If your automobile is stolen, your insurance provider will pay you the Insured Declared Value of the vehicle (IDV). However, you must file a claim with your insurance carrier as soon as possible to avoid any anomalies or delays in acceptance. You'll need to know how to file a claim, which is outlined below:
1. Make a Police Report
When your automobile is stolen, the first thing you must do is file an FIR (First Information Report) with the police station nearest you. If you want to register a police complaint, the cops may ask you for information. You will then receive a copy of your police report, which you will need to file your auto insurance claim.
2. Enquire with your Insurance Provider
After filing a police report, you should notify your insurance carrier in detail about the automobile theft occurrence, either by an online form, by phone, or in person. You'll need to fill out a car insurance claim form and include information like your policy number, vehicle registration number, and theft information.
3. Notify your Local Transportation Authority
You must notify the RTO (Regional Transport Office) about the theft of your vehicle, according to the Motor Vehicle Act. You'll have to complete out some formal paperwork that the RTO officer will sign. The RTO will also supply you with the transfer paperwork to send to the insurance provider, in addition to the legally signed forms.
4. Send Documents to Your Insurance Provider
To submit a car theft insurance claim, your insurance provider will want you to present a number of documentation. The following are a few of these documents:
- Copy of the RC book
- The application for a claim
- Original copy of the FIR
- A duplicate of your driver's license
- Copy of insurance documentation
- RTO transfer paperwork as well as the necessary RTO forms.
In addition to these papers, you may be asked to present your original set of car keys in order to file a successful auto insurance claim.
5. Obtain a Police No-Trace Report
Once you've filed a police report about your automobile being stolen, the police will begin an investigation to search your vehicle. If they don't find your automobile within a certain amount of time, you have the right to a no-trace report from your local police station. The paperwork is required for your insurance company to approve your claim. Based on your location, the no-trace report is generated after 30 days or more.
It might take up to 60 days for an insurance company to calculate your car's IDV. This claim procedure takes around 3 to 4 months to complete. You avoid any delays, be sure to follow this auto theft insurance claim process to the letter and provide your insurer with all necessary facts and paperwork.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.