Easy Steps For Claiming Car Insurance In Case Your Car Is Lost
Easy Steps For Claiming Car Insurance In Case Your Car Is Lost
Table of Contents
Purchasing a car or a home is a major accomplishment for the average person. We take every precaution to assure its protection, including the installation of anti-theft equipment and car insurance. Even then, accidents can occur. Burglaries and thefts are frequent, particularly in large cities. Technology development has led to new techniques for burglars to steal an automobile and drive off.
Only full coverage car insurance protects against theft, robbery, etc. Since it only covers physical harm, wrongful death, or property damage to third parties, third-party liability insurance does not apply to this claim. The Motor Vehicles Act of 1988 states that it is illegal to operate any motor vehicle new or used without a valid certificate of insurance. To find out about claiming car insurance in case it’s stolen, read on.
What Are The Things That One Should Do When The Car Gets Stolen?
Following are the things that one should do when the car gets stolen -
- Filing An FIR
You must notify the police of the theft immediately as you become aware of it. The quicker you register the report, the higher your chances are of having the insurance company approve your claim and having the car recovered quickly.
- Inform Your Auto Insurance Provider
Notifying the insurance provider right away is the second stage in the procedure. The claim form must be completely filled and signed before being submitted with a photocopy of the FIR. You'll need to provide basic information about the event. Keep in mind that you must complete this within the timeframe specified in your auto insurance policy.
- Inform The Road Transportation Authority
It is crucial to notify the RTO of the theft thus that they may amend the number plate's data appropriately. A copy of your FIR, registration certificate, claim form, and maybe a copy of your driver's licence must all be submitted.
- Car Theft Claim Form
Additionally, you must submit the claim form and get in touch with the insurer's customer support department. The specifics of the vehicle, the insurance policy number, etc., among other things, may be needed.
- Documents For Claiming Car Insurance
Once you've alerted each department about the theft, it's time to gather all the pertinent paperwork and organise it in a suitable folder. Following are the listed documents that one needs for claiming car insurance -
- original copy of the FIR
- RC copy for the vehicle
- The claim form, properly completed and signed.
- a photocopy of your licence to drive
- the policy papers in copy
- the vehicle's original keys, properly completed RTO transfer paperwork, and all applicable documentation forms (forms 28, 29, 30), NOCs, and a form 35 out from financier if the loan is for a car
- Get No Trace Report
One of the most crucial papers for putting a stop to the claim procedure is the no trace report that may be obtained from the police.
- Compensation
In addition, you need to contact the insurer's customer service division and submit the claim form. It may be necessary to provide information about the car.
How Much Can A Person Claim Under Their Insurance Provider?
If your stolen automobile is not recovered, the insurance provider will provide a payment equivalent to its current market value IDV. Only individuals with personal damage or comprehensive auto insurance are eligible for coverage in this circumstance. If you don't have these protections, your insurance company won't cover anything if your car is stolen.
You must make an insurance claim for auto theft if your vehicle has been taken. First, you would need to report the occurrence to the police and the insurance provider. A representative of the insurance will walk you through every step of the procedure.
Endnotes
If your vehicle is stolen, you must report it to the police right away and let your auto insurance company know as well. Then and only then will you have a chance to make a successful claim on your stolen vehicle insurance coverage.
Also read: All About Digit Car Insurance
