A car is a valuable asset that requires a significant amount of financial investment. To safeguard our property, it is essential to purchase appropriate four-wheeler insurance. This protects your vehicle from unexpected circumstances, including theft. Read on to understand the stolen car insurance claim process in detail.
Steps to claim stolen car insurance
- When the owner discovers that their vehicle has been stolen, they should immediately go to the nearest police station and file an FIR (First Information Report). Be sure to obtain a copy of the FIR before leaving the police station.
- To initiate the stolen car insurance claim process, the owner should promptly contact their insurance company to report the theft. This will trigger the company’s investigation and set in motion their procedures for processing the claim. It’s essential to notify the insurance company as soon as possible, as delays can prolong the claim process. The insurance company will conduct an extensive investigation, often in collaboration with other agencies, before releasing the settlement amount.
- The owner will need to complete the car theft claim form and submit it to the insurance company for processing.
- A set of documents needs to be submitted to the insurance office along with other papers. This is a mandatory process.
- Registration certificate of the car
- Driving licence
- FIR copy
- A letter to the RTO which informs the transport office about the theft of the car
- If the car is recovered, inform the insurance company about the repair work required and submit the subsequent bills. If the police declare the car as non-traceable and issue a non-traceable report, the vehicle’s RC (registration certificate) will need to be transferred to the insurance company’s name. In case of non-traceability, the insurance company will proceed to settle the stolen car insurance claim for the affected party.
Conclusion
After the devastating experience of losing a vehicle to theft, begins a challenging journey involving filing an FIR and navigating the insurance claim settlement process. Despite these stressful times, an appropriate insurance policy may provide a reassuring sense of relief, offering owners the faith that they can recover from the loss. Hence, having four-wheeler insurance is essential before hitting the road and ensuring the overall safety and protection of the vehicle.
Disclaimer: The information provided in this blog is for educational and informational purposes only. It may contain outdated data and information regarding the Insurance industry and products. It is advised to verify the currency and relevance of the data and information before taking any major steps. ICICI Lombard is not liable for any inaccuracies or consequences resulting from the use of this outdated information.