What Can I Do If My Car Is Stolen?

What Can I Do If My Car Is Stolen?

Can’t find your car at the spot where you parked it? Think calmly about what could have happened. Once you are sure that there is no other possibility like it getting towed, or you having parked it somewhere else, is when you can be assured of it been stolen. 

Now is the time to not lose your patience and think clearly. Do not let the adrenaline rush and anxiety hit you so much that you fail taking the vital steps. What anyone would wonder in such a situation is that is theft of the car covered under their car insurance. The answer is, yes. How exactly can the police and the insurer prove to be of help? Here are the answers to all your questions.

File an FIR (First Information Report)

The first and foremost thing you should do is call the police and get an FIR filed. Once you have the FIR, it becomes the most vital document for the insurer to make a claim, and for further proceedings. You must have the license plate number and the Vehicle Identification Number of your car. You should also know the make, model, and year of your car, along with the other details regarding the approximate time and place of the theft. 

Inform the Insurance Company

Inform the Insurance Company
car insurance application form with car model and key remote on desk.

Just like the police, the insurance company will also need all the information. It is through details provided by you that they would be able to start an investigation. So try to be as precise and honest as possible. You must also inform the insurer if any personal belongings were there in the car. 

Inform the Regional Transport Office (RTO)

Informing the RTO about the theft of your vehicle is a mandate in every state of India. It provides many essential documents related to your vehicle, which are of great help in making a claim. 

No Trace Report

You need to acquire a No Trace Report along with the other reporting. This report is issued by the police after they have checked the stolen cars list. They undertake a search and investigation and after a period of searching, if they are unable to find the car, they issue the No Trace Report.  

List of Documents Required in the Process

  • Original FIR
  • Signed claim form
  • Copy of the policy
  • Copy of the registration certificate
  • RTO transfer papers (including Forms 28, 29, 30, 35)
  • No Objection Certificate from the bank (if the car was purchased on loan)

It typically takes about 3 months from the date of filing the FIR for an insurance company like Bharti AXA to figure out the Insured Declared Value of your car. It further takes about seven business days for any insurance company to pay the IDV approved by the inspection. 

In case of having purchased your car with a bank loan, the proceeds of the claim will be paid directly to the bank. You must take the required followup to check on the status of the car theft insurance claim, and also make sure that the ownership is transferred to the insurance company after the claim has been settled.

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Edward Cullens
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