The 5 Easy Measures To Claim Insurance for Stolen Vehicle

Once you get the best car insurance of your choice, there’s still more to do. Getting best car insurance also requires you to do take certain measures.

Once you get the best car insurance of your choice, there’s still more to do. Getting best car insurance also requires you to do take certain measures.

These measures are important so that you’re able to receive the policy benefits without hindrance. Otherwise you would stand to lose all the benefits of your car insurance. Hence, it is necessary to take the required measures to sustain your policy benefits. For example, many people tend to forget the date of their car insurance premiums. This can happen due to the busy schedule in both personal and professional lives where we tend to forget. Also many tend to procrastinate the payment of premium. However, one must remember that it will cost you loads. Once you fail to pay the premium you are on the verge of losing all the benefits. The insurer might give you a grace period, after which your will policy will lapse. This means that you will stand to lose all policy benefits if you fail to pay your premium within the allotted grace period.

Further you will learn the 5 easy measures to make a successful claim for stolen vehicle.

First things first-

If one loses his vehicle, the 1st thing he needs to do is make an insurance claim, but how to make a claim? The insured must immediately inform the insurance company about the incident. Also the insured must inform the police. After this, the insurance company’s representative will assist you with the claim process.

The prerequisites- Before making a claim, the following things must be ensured-

  • The vehicle should be covered under a comprehensive insurance policy.
  • Comprehensive insurance policy should consist of third-party cover.
  • At the time of buying car insurance, ensure that it will be covered against all kinds of loss or damage caused to the vehicle due to accident, theft, fire and natural calamities.

File an FIR-

The next thing insured must do is lodge an FIR (First Information Report) with the police.

Call the insurance company-

Next, you should call upon the customer service representative of the insurance firm. After that you will need to fill up the claim form, providing information like the policy/plan number, car or vehicle details and date, time and details of the incident.

Submit the forms to the RTO-

You need to submit the following documents to the RTO informing about the theft-

  • Duly signed claim document or form
  • The RC (registration certificate) copies of the vehicle
  • Driving license
  • The 1st two pages of policy document
  • The FIR document and a letter addressing the RTO about the theft

Take the following steps after claim approval-

  • Once the police sends its final 'non-traceable report', your claim is approved. Now you will require transferring the RC of stolen vehicle as per the insurer’s favour.
  • After that hand over all the pair of keys of the vehicle along with a subrogation letter to the car insurance company.

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