How to File Theft Claims for Your Motor Insurance Policy

It does not happen to everyone but it can happen to anyone at any time. Your car may be vandalized and thieves may steal valuables inside or the CD player or any other accessory. Your entire car may be stolen by thieves, putting you at great inconvenience. There are slim chances of recovering your car or the valuables inside but if you are covered by a suitable motor insurance policy, you can at least expect part or full compensation. Please note that if you wish for reimbursement your car must be covered by a comprehensive motor insurance policy. A third party insurance policy does not cover such losses.

If you notice your car has been vandalized and thieves have stolen valuables from inside or have taken away accessories from the car, do not disturb the interiors or the exteriors. Take photographs with your smartphone or with a digital camera. The first thing you do thereafter is to file a FIR with the nearest police station that has jurisdiction over the area where the incident happened. The police team will inspect the team, record your statement and make a panchnama. You must visit the police station and obtain the FIR which will be required for filing a claim under the motor insurance policy. You can file a claim with the insurance company submitting the FIR and a claims statement showing the value of accessories or valuables stolen from your car. If you have a supporting bill, attach it to the claim statement. Some insurance companies may require you to obtain the final police investigation report. However, some companies may settle the claim if you can produce cash memo of the items stolen. You also need to submit a copy of the motor insurance policy along with your claim.

Thieves may have driven away with your vehicle. If your vehicle is covered by the comprehensive policy you can file an insurance claim under the motor insurance policy for reimbursement of the insured value of the vehicle. However, before you obtain reimbursement the following procedure must be undergone.

You must immediately approach the nearest police station with jurisdiction over the area where the theft occurred. File FIR with the police and obtain a written copy listing details of the car and model number. The FIR must be certified. You must also immediately notify the insurance company about the theft of the vehicle and register the theft with them in writing. Now you can submit a claim. The claim should be supported by the following documents:

RC Book

Tax book

Letter of indemnity and subrogation required by insurance company

Keys to the car

Copy of comprehensive insurance policy

Discharge voucher

Once you submit these documents the insurance company will make payment of 75% of the insured value of the vehicle under the insurance policy only 30 days after submission of the claim. Balance 25% may be reimbursed on receipt of the final police investigation report after completion of a suitable waiting period.

The process of settlement is more or less similar across various insurance companies. If you have any doubts about the process you can always seek help from turtlemint that has professionals available to give suitable advice on preparing and filing a claim in the event of theft of accessories or loss of entire vehicle.

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