Scared about Car Theft? Not anymore! Car insurance is here!

Car theft is constantly in the news these days. We read about car theft cases quite often. In 2018, the capital witnessed a reported average count of 110-120 vehicles being stolen per day. It is quite shocking that 92 % of cases are not yet solved. These are the staggering numbers that highlight the importance of car insurance. Not to mention this, insurance is a mandatory requirement by the Indian Motor Vehicles Act. Every car owner in this country needs to safeguard their car against potential losses. However, every customer should refer to a car insurance premium calculator that helps get the best quote when dealing with multiple service providers.

Safety is the best Policy:

It is to give us a strong sense of protection amid such alarming statistics that we have got our backs covered with the vehicle insurance, which is the need of the hour. When you had bought a new car, you must have certainly also jointly purchased a comprehensive car insurance policy. Moreover, the policyholders must renew their plans at fixed intervals to reap the benefits in time. Interestingly, companies never fail to align their offerings with customer preferences, which is why it is customary for the users to go either for a Tata AIG Car Insurance renewal or other products and services.

Anti-theft Devices- Definitely! Good to have:

When it comes to sparing no effort, you can get anti-theft devices as approved by the ARAI (Automobile Research Association of India) installed in your vehicle. Not only does it enhance the level of protection against theft, but it also lowers your insurance premium. Insurance companies count on the fact that those car owners who have got anti-theft gadget installed are more responsible than others. It comes as no surprise that it is in favour of the insurance providers as there would be a fewer number of people taking the claim with the reduction in the number of the cases of car theft.

Comprehensive Car Insurance cover – Why do you need it?

This vehicle insurance cover is a must-have for every car owner to get total protection against any unanticipated event, namely, loss or damage to the vehicle with passengers on-board due to a variety of reasons.

First off, the range of events this term- ‘’’unforeseen’’ may include are the acts of nature such as fire, floods, cloud-burst, hurricane, thunderstorm, hailstorm, torrential rainfall, landslide, fire and electrical short circuit due to an earthquake, and cyclone.

Secondly, there are a host of reasons that come under man-made calamities that would comprise theft, break-in, burglary, strikes, an act of terror and damage during transportation among other reasons.

As a matter of fact, comprehensive car insurance policies provide a personal accident cover for both the driver and the passenger in the vehicle. The policy also takes into account the third-party liability cover that shields the owner against legal expenses arising from a sad event causing any death or injury to the inflicted person or damaged property.

All this coverage depends on the validation of the policyholder’s claim as to whether or not the details are complete, apt and credible.

Benefits of Car Insurance Premium Calculator:

As mentioned earlier, using a car insurance calculator would always come in handy when you are searching for the best policy and evaluating your needs for the same. And, the process of comparing premium rates from a variety of plans with various features becomes as easy as possible.

Not to mention, the ease of making an unbiased decision while purchasing a policy as it weeds out the intrusion of intermediaries like agents or brokers. Furthermore, it is good to use a car insurance premium calculator to get relevant and accurate information about the premium amount that is being paid for any given policy. It also helps us understand the way premium rates change with a change in other variables.

What is the right way to make a smart claim?

First and foremost, don’t forget to file a police complaint and simultaneously inform the insurance company about the case of car theft. Shortly after the event, the car owner also needs to inform the transport department as per law.

Documents required for Claim:

In the event, you need to ask for a claim, ensure that all the required documents are in place. After you have done the possible arrangement, just submit them with the duly-filled claim form, to the insurance company. For each type of claim, certain documentation is required for submission.

In case of theft or burglary, the details of the supporting documents to be submitted are given below:

  • A copy of the original FIR,
  • A copy of the policy documents,
  • The claim form duly signed,
  • A copy of the car’s RC,
  • A copy of the driving license, and
  • Duly-signed RTO transfer papers with the important forms (28, 29, 30 and 35).

There are instances when there is no possibility of getting the whereabouts of the stolen car. In these cases, you must present a no-trace report, affirmed by the police, to file a claim. This report is usually generated within a month from the date of the incident. Finally, handing over your car keys to the insurance company implies that you have asked for a theft claim.

Also, remember:

Never miss out on a due date of renewing your car insurance policy. In the event of a delay, the policy will be considered lapse and you will not be entitled to get any claim. When it comes to renewing, be it Bajaj Allianz Car Insurance renewal or such other products. Also, the process of renewing requires just a few steps:

Firstly, enter all the details including the policy number and expiry date of the current policy.

Secondly, get to know in-depth the particulars of your policy.

Conclusion:

By now you must already have understood the necessity of getting car insurance to ensure the safety and security of your vehicle. You must not rule out the importance of reading the policy documents as soon as you get them in order to get familiarity with the procedure for a claim. Once you get familiarize with the steps, filing a claim becomes much simplified even during the testing times following the theft/loss of a vehicle.

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