Owning a four-wheeler is not an easy affair. You need to invest your time and money in its maintenance and safety. There are always chances of your car incurring damages through accidents and natural calamities, and more. There is also the risk of losing your car completely to theft.
Theft of cars is a very common occurrence, which is why you need to have car insurance that will extend financial support for you in testing times. Once you have insurance for your car, you only need to know how to claim car insurance in times of need.
There are several types of car insurance policies, and therefore, you need to know if the insurance you want to buy covers theft as well in its clauses. It is noteworthy that theft is almost always covered in all comprehensive insurance policies, but all insurance policies are not comprehensive. Once you are done choosing an insurance policy that provides you with theft coverage, you must also ensure you are clear about how to claim car insurance, especially in the case of theft of your vehicle.
In this blog, we will discuss exactly that. Read on!
The Risk Of Theft
Since a car is a big-ticket purchase, it is usually viewed as a long-term investment. But when it comes to risks of loss of your vehicle, theft tops the list of causes. You can easily lose your vehicle to theft and this will surely dent your savings. Theft of your four-wheeler can happen anytime and due to several reasons –
- Leaving your car’s doors unlocked
- Leaving the car keys in the vehicle
- Parking in areas that are not under surveillance
- Leaving valuables that are easily visible in the car, and more.
When you lose a car, you need to be prepared to deal with the monetary weight that will fall on your shoulders. This weight is lifted off your shoulders when you have the right car insurance. You need to ensure your policy provides coverage for theft, among other things as well.
Let us look at how to claim car insurance when you lose your car to theft. Keep reading!
How To Claim Insurance In The Case Of Theft Of A Vehicle?
There are two broad categories of car insurance policies – basic and comprehensive coverage. The former is mandatory and provides third-party liability. It is mandatory for all owners at the time of purchase. Comprehensive car insurance coverage will provide overall financial coverage for damage and loss of a car due to various reasons, including theft.
Here’s how to claim car insurance when your four-wheeler is stolen –
1. File an FIR:
This is the first step to claiming insurance after the theft of your car. Go to your local police station and report the theft incident and file a First Information Report (FIR). Ensure you save a copy of the FIR from the police station. This document is needed while filing for the insurance claim.
2. Inform the RTO:
Once you are done filing an FIR with the local police station, you need to approach your Regional Transport Office (RTO) and inform them about the incident. This is mandatory according to the Motor Vehicle Act. You will be asked to fill up a few forms at the transport office which is essential to file for your claim with the car insurance company.
3. Inform your insurer:
This can be done immediately or as you file the FIR and talk to the regional transport officials. You can do this either online or offline. Once they receive the details from you, they will ask you to file the claim, for which you would need to produce a bunch of documents, including the FIR.
4. File for the claim:
When you get in touch with the insurance company, they will give you a form that must be filled out in order to complete the requirement of filing for the insurance claim. Once you have filled out the form, you will have to submit it along with the insurance claim form. Some of these documents include insurance documents, a copy of your driver’s license, RTO transfer papers, and other forms.
5. No Trace certificate and claim:
Also, remember to produce the ‘No Trace’ certificate – this is nothing but a certificate issued by the police station after the theft investigation is done and they are unable to find the vehicle. This report is mandatory while getting the claim sanctioned. Once this is submitted, you will receive your compensation from the insurance company.
This is how to claim car insurance if you lose your vehicle in the event of theft. If you are looking for an insurance company to buy comprehensive car insurance from, look no further than Chola MS! We are one of the leading general insurance companies that offer a wide range of plans for travel, health, motor, and housing.
In the case of theft of your car, our team will back you up well. The Chola MS claim intimation is extremely proactive and supportive. All you need to do is have a Chola MS car insurance plan. If and when you lose your car to theft, you can blindly rely on the Chola MS claim intimation for a faster and strongly assisted process. For more details about our insurance policies, get in touch with us through our website. For the Chola MS claim intimation, click here.