Is there anything more satisfying than taking your beloved car for a swing through a serene road? Whether an unplanned road trip or daily commuting, a car is just like a family member whom you protect. But this happiness can easily fall apart if you face car theft. We all must have heard the news about cars being stolen but most of us ignore them, assuming such a thing would never happen to us. But as they say, hope for the best and prepare for the worst and be prepared for the unexpected situation is always a good idea.
While it's hard to replace a lost vehicle, but if you have motor insurance, it can provide you with the right compensation to cope with the loss.
Let's know more about what things you should do to make an insurance claim for your stolen car:
Immediate Steps to Follow:
When you first get to know that your car has been stolen or vandalized, here are some of the instant steps you should take:
If your car was towed away, in such case check with the parking authorities, towing companies, or the nearest traffic police station.
- You should report the theft to the nearest police station. The copy FIR (First Information Report) will help you in the future while you are making your car insurance claim.
You should immediately inform your insurance provider.
- You must also inform the Regional Transport Authority (RTO) about your vehicle's robbery. You must not skip this step as the registration authorities are responsible for transferring ownership of the vehicle. If someone is misusing your car, an advance and timely notification to the RTO will help you in many ways and prevent any unauthorized change in ownership of your car.
Processing the Claim Forms
Once you took the immediate steps, now it's time for you to make a claim. Firstly, you need to contact your insurance provider. They will provide you with a claim form, which you need to fill in order to get your claim. Along with the claim form, you need to submit documents such as the registration certificate (RC) of the vehicle and a copy of the FIR.
You also need to submit a special Non-Traceable Report from the police and a 173CrPc Court Order. After the submission of documents, your insurance provider will process the claim.
Claim settlement is one of the most crucial steps. After the submission of the documents, your insurance provider will verify them and then your claim will be approved. Once approved, you need to submit your car keys, and any documentation related to your car.
You must have read the terms and conditions of your car insurance provider before buying it. The amount that will be paid to you will be based on the Insured Declared Value (IDV) of your car. After confirmation of admissibility, it takes a minimum of 7 days to complete the settlement.
Car theft is like a disturbing nightmare. But if you buy car insurance online from reputable insurers and follow the right steps, you will get the appropriate compensation for your car that will help you cope with the loss.