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How to File Car Insurance Claim in Case of Theft?

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.

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Filing a vehicle insurance claim after the theft of an automobile is not the same as filing the claim for any other reason.
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.

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.
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.

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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.

Next Story

Why You Need a Car Accident Lawyer

It’s worth understanding that these insurance companies have large legal teams that begin assessing damages

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In unfortunate circumstances, however, serious injury or death may occur with long term consequences for victims or loved ones. Pixabay

Most of us have been involved in a car accident at some stage of our lives, and more often than not, it’s a minor inconvenience with little impact on our futures. In unfortunate circumstances, however, serious injury or death may occur with long term consequences for victims or loved ones, and in too many of these cases, people accept the first offer from insurance. It’s worth understanding that these insurance companies have large legal teams that begin assessing damages as soon as a claim is made and whose job is usually to pay as little as possible. It is also essential to understand the weight of damages caused not only presently, but also going forward, which necessitates the experience and skills of reputable representation. Seeking quality representation as early as possible, offers the best chance of fair compensation and can prevent a victim from being left with pain, suffering, expenses, and damages that far outweigh an initial offer.

Specialists, like Florida car accident lawyer, VG Law Group, offer to help a client in many ways. They will first assist in establishing liability. This can take many forms and includes things like collecting evidence, interviewing other parties and witnesses, and listening to your version of events. Of course, the first priority is one’s health, and ensuring proper medical care during recovery will be prioritized, with attention being paid to the documentation of injuries and collecting medical records. Good lawyers will build a full picture to assess the potential for a claim and will also negotiate or win a settlement that is fair and takes into account all future needs caused by an accident. Determining all relevant factors like lost wages, estimated future earning potential, and medical expenses can increase a claim exponentially and limit the already unfortunate circumstances from getting even worse.

Car, Accident, Lawyer
Most of us have been involved in a car accident at some stage of our lives, and more often than not, it’s a minor inconvenience with little impact on our futures. Pixabay

It’s also essential to understand how claims differ between states. Florida, for example, is a no-fault state meaning that the first $10,000 in medical fees will be covered by your own PIP benefits, regardless of who is at fault. This enables immediate medical treatment, which can be extremely helpful but doesn’t guarantee or necessarily take into account future expenses that may occur. You can read more about that here. In instances like this, it would be beneficial to hire Florida car accident lawyer who specializes in personal injury and will ensure the best possible care for their clients.

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Choosing a personal injury lawyer is a crucial step, to begin with, and what many people aren’t aware of is how vastly they can differ. Some firms, particularly those dealing in large volumes that rely on large advertising budgets are more likely to settle quickly, leaving potential money on the table for their clients so that they can move on to the next case. Alternatively, specialists who have built a reputation through word of mouth and referral, are far more likely to have your best interest at heart and fight as far as necessary to ensure fair compensation.