Car insurance claim stolen car

If your vehicle has been stolen, how do you make an insurance claim? The insured must inform the insurance firm and the police. The insurer's representative will help the former through the process. To make a claim, the vehicle needs to be covered under the comprehensive insurance policy, which includes third-party cover, loss/damage to vehicle as a result of an accident, fire or theft, and risks against natural calamities.

Claim form: The insured should call the customer service centre of the insurance company and fill the claim form, giving information like the policy number, vehicle details, as well as the date, time and description of the incident.

Documents: Submit the duly signed claim form, copies of the registration certificate (RC) of the vehicle, driving licence, policy document (first two pages), the FIR and a letter addressed to the RTO intimating theft.
Approval, settlement: After the police submits its final 'nontraceable report' and the claim is approved, the insured must transfer the RC of the stolen vehicle in favour of the insurance company, hand over all sets of keys and give a letter of subrogation to the insurance company.

Reimbursement: The insured must submit the original repair invoice and payment receipt to the insurer. The amount approved as per the surveyor's report will be reimbursed within seven working days.

Points to note
1. The insured must obtain a duplicate RC book from the road tax officer's office immediately.

2. In case the vehicle was taken on loan, the insurer will reimburse the payout amount to the financer, while the excess amount, if any, shall be borne by the insured.

The content on this page is courtesy Centre for Investment Education and Learning (CIEL).Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.

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