Automotive

Procedure to Make an Insurance Claim for Car Theft

Along with bikes, the number of cars stolen in India is increasing. Therefore, one cannot park their cars in unknown places simply due to the fear of theft and burglary. This is exactly why having a parking space of your own is important. Due to lack of the same, the car owners end up parking their vehicles on the roads or in other spaces that are unauthorized.

In cities, more than 100 vehicles are stolen in a day. The scenario isn’t any different in rural areas. Hence, it is better to secure your car with four wheeler insurance.

Why do you need Car / Four Wheeler Insurance?

As a car owner, you are the one that must be taking initiative and protect your vehicle, because the number of crimes is rising each day. You can easily take preventive steps to limit your risk as a car owner.

Firstly, you can be careful while parking your car and find a safe parking spot that has security. Then you can purchase a comprehensive car insurance policy that offers coverage for theft. The main motive of purchasing an insurance policy is to offer you financial support in case of mishaps. You also receive a third-party liability cover if you buy a comprehensive plan, along with some other features.

It is mandatory to have a third-party liability as per the Motor Vehicles Act. With this cover, you don’t have to worry about facing any legal as well as medical liabilities that arise out of accidents involving third-party people or property.

Under a comprehensive car insurance policy, any damage caused to your vehicle is also covered. The accident caused may be your fault or somebody else’s. However, who is at fault does not matter in such a situation, anyway, you will receive the payment from your insurer for the repairs. Not just theft and own damages, this plan also offers coverage against natural as well as man-made calamities such as floods, earthquakes, landslides, strikes, terrorism, riots, etc.

Here, in this article, we will be focusing on how a comprehensive plan provides coverage against theft or burglary. In case your vehicle gets stolen, you will receive compensation for the same by your insurance provider. Indeed the compensation won’t be the original cost of your vehicle but you will receive the Insured Declared Value (IDV) of the car. Especially if you reside in an area that is prone to theft, you will require the comprehensive policy for your car.

If at all your car gets stolen, follow these steps to file a motor insurance policy claim:

  1. First, the most important thing to do for vehicle theft would be filing an FIR at your nearest police station.
  2. Your insurer will surely provide you a number as a point of contact, or you can simply get in touch with them by visiting their website and provide them with details of the incident.
  3. Make sure to inform the RTO about the theft as well.
  4. Then, you must provide your insurer with all the necessary documents to process your claim.

You can surely take a few steps and enhance the security of your car, but purchasing a car insurance policy has to be the best solution. Nobody can imagine losing their car for which they’ve spent their hard-earned money. With the help of an insurance policy, you receive compensation under such a situation, along with the peace of mind. If you’re confused about which policy is the best for you and fits in your budget, you can even calculate the premium online using the car insurance premium calculator.

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