A car insurance policy is one of the important documents that a car owner must carry at all times.. Not only does it provide you financial security against damages caused due to accidents, third-party, natural calamities and man-made disruptions, bit also provides personal accident coverage for you. Suppose, your car has met with an accident or has been part of any mishap and you want to make a claim, a car insurance policy is very essential.
Due to any reason, if you have lost the car insurance policy, you will not be able to make any claim and all the expenses for the repair will have to be borne by you. However, you can get a duplicate policy copy from your insurer.
So here is what you have to do to recover your car insurance policy documents:
- Inform the insurance provider immediately that you lost the a car insurance policy and need a duplicate policy copy immediately. It is essential that you follow this step immediately as driving without a car insurance policy is a punishable offence. If you are caught without a motor insurance policy on a random vehicle checking, you will be penalised for the same.
- As a procedural norm, it is essential that you file an FIR with the nearest police station about the missing car insurance policy. So if someone else is using your policy for fraudulent activities, they can be caught easily. This FIR is essential to obtain a duplicate copy of the policy. Obtain copies of the FIR as it will be helpful with further proceedings.
- Publish an advertisement with the local newspaper about missing policy documents. The cost of publication will be borne by the insurance company.
- Submit a written application to the insurer seeking a duplicate insurance copy. In the application, you should mention your full name, policy number, type of coverage, add-on covers (if any), registration certificate, validity, commencement date, etc. Along with this application, you should submit RC copy, FIR copy, and address and ID proofs. You also have to mention the reason for losing the insurance copy.
- The next step is to sign an indemnity bond which mentions the request for a duplicate insurance policy copy. This indemnity bond has to be affirmed by a notary stamp. You will be required to pay a nominal fee to the notary as well. The indemnity bond should mention accurate information like your full name, policy number, etc. Few insurers require at least one witness to sign on the indemnity bond who is not a family member of the policyholder.
Once the procedure is completed, the insurer will issue a duplicate copy within a week. To ensure you don’t lose the document again, you can opt for a digital copy of the same. Nowadays, insurers prefer digital transactions as it eliminates incidents like this. If you are a first-time car insurance buyer, choose the online platform as it allows you to explore a lot of interesting offers from various insurers that will help you save money. Not only is it environment-friendly as it involves minimum paperwork, but also saves you time and effort expended through the offline mode. Car insurance is the most important document that you should have at all times, so any negligence towards it may cost you a lot, especially if the vehicle has met with an accident or mishap.