For a common man, buying a car or a house is nothing less than an achievement. We ensure its security in every way possible by installing anti-theft devices, vehicle insurance, etc. Even then, mishaps can happen. Thefts and burglary are common especially, in metropolitan cities. With advancement in technology, thieves have found new ways to break into a car and drive away. However, if you have car insurance and want to be aware of theft claim process, this is all you have to know.
As you know, only comprehensive car insurance covers theft, burglary, etc. Third-party liability policy does not hold good for this claim as it only covers the bodily injuries, death or property damage caused to the third-party by the insured vehicle. If you are an owner of a new car, then note that driving any motor vehicle without valid motor insurance is an offence according to the Motor Vehicles Act, 1988. Under this act, the owner of the registered vehicle can be penalised and the Registration Certificate of the vehicle can be cancelled temporarily until he/she obtains a valid motor insurance policy.
If you are looking to buy a car insurance policy for your vehicle, then a comprehensive car insurance policy is the ideal choice. As mentioned above, not only does it cover theft or burglary, it covers accidents, own damage, natural disasters, and man-made calamities. You can easily buy car insurance policy online through the insurer’s website or on any neutral third-party websites.
Only if you have a return to invoice cover, the insurer will pay the initial value of the car. Else the claim amount will be paid to you as per the Insured Declared Value of the vehicle. It is important to know the procedure and steps to be followed to make a theft claim. At the same time, be sure to secure your car with ARAI approved anti-theft devices for safety.
The content on this website is meant only for general information purpose and does not and shall not be construed as any solicitation, procurement, display, aggregation, marketing or advertisement of insurance products. BankBazaarInsurance is not an insurance intermediary and hence does not endorse or solicit any such products. The information on this website is derived from publicly available sources and BankBazaarInsurance cannot verify or confirm the genuineness, truth, veracity or authenticity of this information.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.