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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.

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U.S. Proposes Price Tag For CO2 Emissions From Cars

Some states can put programs in place with agency regulations. Others will have to go through their state legislatures.

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Researchers turn carbon emissions into usable energy. VOA

Drivers on the U.S. East Coast may soon start paying for their climate pollution.

Nine states and the District of Columbia have announced plans to introduce a system that puts a price on the carbon dioxide produced from burning gasoline and diesel fuel.

As the federal government pulls back from taking action on climate change, the proposal is an example of how states and cities are aiming to move forward.

Details are slim at this point, but the Transportation and Climate Initiative would likely require fuel suppliers to pay for each ton of carbon dioxide that burning their products would produce. Costs would presumably be passed on to consumers.

The announcement says revenues would go toward improving transportation infrastructure and low-emissions alternatives to cars, trucks and buses.

The program could raise $1.5 billion to $6 billion per year, by one estimate.

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Car emission, Wikimedia

“You can imagine, that could do a lot to modernize transportation infrastructure, improve mass transit, build out electric transportation options,” said Fatima Ahmad at the Center for Climate and Energy Solutions, based in Washington, D.C.

Reducing traffic congestion, “which is legendary in this area,” is a priority for the region’s lawmakers, she added. Those investments could create an estimated 91,000 to 125,000 new jobs.

Transportation is the largest source of greenhouse gas emissions in the United States. While electric utilities have cut production of carbon dioxide by switching from coal to natural gas and renewables, emissions from the transportation sector have been growing since 2012.

Following California

California is the only state so far that has put a price on carbon emissions from transportation fuels. The state included gas and diesel in its cap-and-trade program beginning in 2015. That program also regulates greenhouse gases from power plants and industries.

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Morning rush hour traffic makes its way along US 101 near downtown Los Angeles, California, Nov. 15, 2016. VOA

For transportation fuels, wholesalers buy the permits and pass on the cost. At the current price of about $15 per ton, the program adds about 13 cents to the cost of a gallon of gas.

The additional cost is less than the differences in pump price among gas stations in the same city, noted communications director Stanley Young at the California Air Resources Board, which administers the program.

“When you consider the few cents that the cap and trade program adds on to [the cost at the pump], it kind-of pales,” he said.

The state has raised more than $9 billion from permit sales since the program began in 2012.

Funds have paid for renewable energy and efficiency upgrades, mass transit, low-emissions vehicles, land preservation and other investments.

To help ease the burden on low-income consumers, a third of the funds are targeted to disadvantaged communities.

However, California’s program has not stopped vehicle CO2 emissions from rising. After a period of decline from 2007 to 2013, greenhouse gases from vehicles have increased every year since then.

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Car emissions contribute to global climate change. Pixabay

The state is studying the impact of car sharing and autonomous vehicles on reducing emissions. Young said officials are also looking into land use planning, so people live closer to work or transit.

“We invented sprawl,” he said, “and now we’re trying to deal with it.”

Hard to change

Transportation is one of the hardest sources of greenhouse gases to tackle, experts say.

Unlike the next biggest source of carbon pollution, power plants, transportation emissions come from millions of individual vehicles, and the choices their owners and drivers make have a big impact on how much carbon dioxide they produce.

There are essentially three ways to reduce their emissions, according to David Bookbinder at the Niskanen Center, a centrist research institution: make vehicles more efficient, reduce the amount of CO2 produced per unit of energy, or raise the price of fuel.

“It’s never popular to raise the price [of fuel],” Bookbinder said. Even so, “you have to really, really, really raise the price of gasoline before it has an impact on people’s use.”

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Car exhaust billows around commuter traffic in winter weather in Omaha, Nebraska, Feb. 1, 2013. VOA

France’s “yellow vest” protests are one extreme reaction to raising fuel prices. They sparked the biggest outrage where driving is least avoidable: outside city centers and in areas lacking good public transit. And they demonstrate another risk: policies that make gas more expensive can have the biggest impact on the people who can least afford it.

One way to reduce the impact is by returning to consumers the money raised by pricing carbon. That’s the preferred approach in a proposal by a group of Republican elder statesmen. Investing in affordable public transit is another, Bookbinder says.

 

The members of the Transportation and Climate Initiative — Connecticut, Delaware, Maryland, Massachusetts, New Jersey, Pennsylvania, Rhode Island, Vermont, Virginia, and Washington, D.C. — will spend a year designing their individual programs.

Some states can put programs in place with agency regulations. Others will have to go through their state legislatures. That will test voters’ appetites to pay for their climate pollution. (VOA)