Under the Motor Vehicles Act 1988, car insurance is mandatory. A timely insurance can offer adequate financial cover in case of a collision or against theft of vehicle.
When you realize of the theft first inform the police. They would ask you to register a FIR at a police station near you. In this you would have to provide all details about your vehicle which will then have to be shared with your car insurance provider. Without which the company will not process your theft claim.
You would also have to notify the RTO or Regional Transport Office. They will assist you to get the ownership transfer papers of the vehicle and process for the claim.
Next you can duly inform your insurance provider. Provide them the FIR copy and provide them your car description and details of the theft like location where it is stolen, time, date and so on.
Your insurance provider will start processing your request and conduct numerous background checks to cross-verify the information. Once they are convinced of the details they will provide you the claimed amount. It is important to note that for verifications and other process it is recommended to inform your insurance provider as soon as the FIR is launched. You can even keep in touch with your Relationship Manager and provide them details so you can receive the insurance claim faster.
Read Also: How Car Insurance Can Help You Deal With Car Theft?
Additionally, you can purchase car insurance online from leading lenders. This will not only save your time but help you find suitable policy and liaison directly with the insurance providers.
