5 Steps for filing theft claim of your vehicle

A comprehensive two wheeler insurance policy consists of two sections which covers third party liability ( TP ) as well as own damage ( OD ) where third party covers your third party damages . It kicks in if your vehicle causes damages to third person. It can be injury, property or death. While own damage ( OD ) covers your vehicle against theft and damages. But having a policy is not enough. We should know how to file a claim to the insurer. Any wrong step by you can lead to rejection of your claim. Here are five steps that you need to do after you come to know about theft of your vehicle.

File an FIR within 24 Hours

You need to file an FIR in your nearest police station within 24 hours from the time of incident. Now a days you can easily make an FIR online regarding theft of your vehicle and If there is no police station or cyber café in nearby your area then at least make call on 100 number. The control room of police will tell you your nearest police station.

Intimate Insurer

After getting FIR, inform your insurer about the whole incident by calling on their customer care number or visiting their branch and get a claim number which is a proof that you have intimated the insurer in a prescribed time limit.

Complete formalities with Surveyor

Your next task is to record your statement with the surveyor who will be appointed by your insurer to investigate your claim and he will make a report on the basis of your statement as well as proofs. You need to submit few documents of your vehicle to your surveyor like invoice , original insurance policy, service book, your identity proof, your bank statement, your bank account’s cancelled cheque, your driving license, RC particular, Letter of custody and last but not least Non reposition letter ( In case your vehicle is financed by any bank or NBFC )

Submit Final Report to Insurer

After submitting all the formalities of surveyor, your surveyor then prepares a report and will submit it to your insurer. Now you have to take final report which is the investigation report of your FIR submitted by the police before the magistrate under section 173 of the Criminal Procedure Code. It is the result of the investigation. You need to submit this to your insurer. This generally gets available within 45-60 days from the date of FIR.

Deposit discharge Voucher & Letter of Indemnity Bond

After submitting final report, your last job is to submit discharge voucher (it is a voucher in which you need put a revenue stamp of Rs 1 which you can easily get in any post office) and indemnity bond to the insurer. After doing all this within one-two weeks you will get your IDV (Insurance declared Value) amount of your vehicle in your bank account.