Filing insurance claim for stolen car

You drive your car into an empty space on the roadside where many other cars are parked and leave the spot for a business meeting at your client’s office. When you come back, you find that your car is gone! You look around to make sure that it was the same place you had parked your car and when you confirm the spot, what do you do? You might as well get panicky in such a situation, not knowing what to do. Here are a few tips on what you need to do if you face such a situation.

First, report the theft of your car to the nearest police station immediately and lodge an FIR. Also, obtain a copy of the FIR from the police station.

Second, inform the insurance company about the theft of your car within the time limit stipulated in the policy document and submit a claim for the same by filling in the claim form. Along with the claim form, submit relevant documents to the insurance company such as insurance policy document, copy of driving licence, copy of RC book, original FIR copy, etc.

Third, inform the local RTO office where the vehicle was registered about the theft through a letter addressed to the RTO and obtain acknowledgement for the same.

Fourth, collect the ‘Not Traceable Report’ from the police station and submit it to the insurance company.

When all these formalities are completed by the policyholder, the insurer approves the claim. The insurance company will also direct the policyholder to transfer the stolen vehicle in its name. The policyholder must transfer the RC book in the name of the insurer and handover all sets of original keys, original purchase invoice and a letter of subrogation to the insurance company. Once this is done, the insurer will pay to the policyholder the amount of claim approved by the surveyor within seven working days.