Sage-Tips

Can you claim insurance for theft?

The insured must inform the insurance firm and the police. To make a claim, the vehicle needs to be covered under the comprehensive insurance policy, which includes third-party cover, loss/damage to vehicle as a result of an accident, fire or theft, and risks against natural calamities.

Can I claim insurance if my bike is stolen?

File a First Information Report (FIR) As soon as you realize that your bike is stolen, you need to file an FIR with the nearest police station. This step is a must as your insurance company will need the FIR to file the bike insurance claim.

Do insurance cover stolen vehicles?

Does car insurance cover a stolen car? Car insurance can cover a stolen car, but only if you have comprehensive coverage. If your car is stolen and not recovered, this coverage pays the current value, or actual cash value, of your vehicle. If there isn’t much difference, you likely don’t need comprehensive insurance.

Can we claim insurance if vehicle is stolen?

If your four-wheeler is stolen, your insurer will cover you up to the IDV (Insured Declared Value) of your car. The claim should be submitted as quickly as possible from the time the car is stolen to avoid any delays or discrepancies in approval. For this, you first need to understand the claim filing process clearly.

What if your vehicle is stolen?

File an FIR Once you find out that your car is stolen, the first thing you need to do is file an FIR (First Information Report) at your local police station. The police will ask for relevant details to register a complaint. You will receive a copy of your FIR, which you will need for filing the claim.

Is theft covered in vehicle insurance?

Car insurance companies cover third-party damages up to a certain amount. In case of a comprehensive policy, car theft and personal accident damages are also covered. The plan also offers add-on depreciation cover, no-claim bonus (NCB) protection, etc.

What happens when your motorcycle gets stolen?

If a thief steals your motorcycle, contacting the police to file a report and notifying your insurance company to file a claim should be your first priorities. You can take several steps to ensure your bike stays safe and sound. It’s best to park your bike indoors, in a secure space such as a garage.

Can I file a claim for a stolen scooter?

If you have a specific policy for the scooter (lists the scooter as a vehicle with description, VIN etc), AND you have comprehensive coverage (coverage for fire & theft), then you can definitely file a claim. If you have no specific policy on the scooter, then your options are more limited.

Does insurance cover theft protection on electric scooters?

Imagine you get insurance, and after six months, your scooter gets lost or stolen. You open the agreement, and it mentions that the insurance doesn’t include theft protection. The insurance will be no use for you. Therefore, it is beneficial to ask the insurance company if the insurance consists of theft protection.

What do you need to know about motorcycle theft insurance?

Motorcycle Theft Coverage. The claims process for a motorcycle theft is very similar to a stolen car. First, you need to determine if you have purchased comprehensive coverage on your motorcycle insurance policy. Comprehensive is the coverage purchased for when your motorcycle is in storage to protect against this exact scenario, theft.

What to do if your bike is stolen?

In the event your bike is stolen, there are certain steps that have to be followed before the insurance company reimburses you for the stolen bike. The process to file a claim in case your two wheeler is stolen is listed below: File an FIR (First Information Report) at the nearest police station.