Never miss a story

Get subscribed to our newsletter


×
Representational Image, Pixabay

You buy your dream car to travel every part of the country with luxury. How would you react on discovering that your car is missing? Someone stole your car. This is when your motorcar insurance comes into the picture. It is a comprehensive cover for personal accidents, natural and man-made damage caused to the vehicle. Filing a vehicle insurance claim after the theft of an automobile is not the same as filing the claim for any other reason. Theft is the total loss of value of the automobile and is equal to the complete destruction of the car in an accident that causes it to be written off as scrap. Car theft in India is widespread and some instances happen daily. Every day, 105 cars were stolen in the year 2016-17 (Ref: Indpaedia). To make a claim with motor insurance companies in India, your vehicle needs to be covered under the comprehensive insurance policy which includes third party cover, a loss or damage to the vehicle, accident, theft, and risks against natural calamities.

Here is how you can file a car insurance claim in case of theft


FIR – The insured must lodge the First Information Report (FIR) immediately. It is an official proof of the fact that the car has been stolen. It is the first and an important step to file your claim. Without this, you cannot claim your insurance. The car insurance cover requires the owner to take all the responsible steps to recover the loss due to the lost vehicle.


Representational Image, Pixabay

Informing the Regional Transport Office – One should notify the RTO about the theft of the vehicle. It will ensure that the thief does not transfer the vehicle to his or her name. One should inform the RTO in writing and submit the acknowledgement to the car insurance company. A copy of the RC book with a stolen endorsement must be obtained from the RTO. It should be submitted to the insurer.

Submit original car documents – To file a claim, the car owner should submit the original vehicle insurance policy document, tax invoices for the last year and other documents of the car.

Acknowledgement from car loan provider – If your car loan is not yet repaid, then you are bound to inform the lender and obtain a response from them. You should also submit the latest loan statements to indicate the total amount due.

Claim Form – Call the customer service centre of the insurance company and fill the claim form by giving all the necessary information which includes policy number, vehicle details, time and description of the incident. You will be required to submit the duly signed claim form, copies of the Registration Certificate (RC) of the vehicle, policy document and driving license.

Closure report – The police will try to investigate the loss and try to recover the car and submit their report stating that the vehicle could not be found. The court will close the case after this and a No Trace certificate will be submitted to the insurance company. The payout will be made only after the document is submitted.

Also Read: Apple Bullish on Indian Market With $61.1bn in Revenue

Other documents – Your identity proof and a copy of your driving license should be submitted to the insurance company. Additionally, you will be required to provide an NOC for transfer of the vehicle to the insurance company along with a letter of indemnity on a stamp paper. You will have to transfer the RC of the stolen vehicle in favour of the company, hand over all sets of keys and give a letter of subrogation to the insurance company. Finally, you hand the documents over to the insurance company and claim.

Every insurance company follows the steps mentioned above for the acceptance and reimbursement of the claim. However, it is crucial for the vehicle owner to take immediate action and report the theft to the authorities. Motor Insurance companies in India offer quick processing and approval of the claim if you have purchased comprehensive motor insurance. It is important to note that in case the vehicle is taken on a loan, the insurer will have to reimburse the payout amount to the financier, and if there is any excess amount, it will be borne by the insured.


Popular

Unsplash

Initially, the firm announced a feature called Audio Recording in Latin America as a way to make people using Uber there feel more safe.

Ride-hailing major Uber has introduced a new in-app safety feature that will allow drivers as well as riders to record audio during trips.

Initially, the firm announced a feature called Audio Recording in Latin America as a way to make people using Uber there feel more safe. The feature is now available in more than a dozen countries throughout Latin America, including Brazil and Mexico.

"To help protect privacy, the audio file is encrypted and stored on the rider and driver's devices and by default no one can listen to the audio, including Uber. If either user submits a safety report to Uber, they can attach the audio file to their report," the company said in a statement.

Follow NewsGram on Instagram to keep yourself updated.

Once riders and drivers enable this feature, they can choose to record audio by tapping the shield icon on the map screen and selecting "Record Audio".

Riders and drivers can choose to record individual trips, and drivers will also have the option to leave the feature on while they are online.

Throughout Latin America this feature has been a popular way to promote safe, comfortable interactions while on a trip. For instance, nearly 70 per cent of riders and drivers surveyed in Rio de Janeiro told the brand this feature helped them feel safer when using Uber.

In addition, the company has expanded the capabilities of our RideCheck technology to detect when a trip takes an unexpected route or when a trip ends unexpectedly before the rider's final destination.

Keep Reading Show less
Unsplash

The Armed Forces Special Powers Act (AFSPA) be repealed in Nagaland

Special Powers For The Armed Forces Act Of 1958 is an act to allow personnel of the armed forces in the states of *[Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura] to be granted certain special powers in troubled regions.

In protest, Nagaland has decided to put the Hornbill Festival on hold. Furthermore, the SIT investigating the event has been given a month to finish its inquiry.

Keep Reading Show less
Unsplash

Lee, the de facto leader of the country's biggest conglomerate, Samsung Group, has hinted at making a sizable change to the company to "create a better Samsung."

Samsung Electronics on Tuesday replaced all three CEOs in a surprise move that, the company said, was intended to enhance competitiveness and promote future growth.

Han Jong-hee was promoted to vice chairman and CEO and will be in charge of the newly created SET division, which merged the consumer electronics and IT and mobile communications divisions, previously led by Kim Hyun-suk and Koh Dong-jin, respectively.

Keep reading... Show less