Motor Theft Claims

Once there is a theft incident the insured should report immediately to the police station intimating of the circumstances surrounding the theft. This may eventually result to the vehicle being recovered. After making the report to the police, the insured will forward a written report to the insurer within a stipulated time as may be enshrined in the policy. On receiving the report, the insurer issues a claim form to the insured for completion. Having done this, this,the insurer will proceed to investigate the claim.
The insured needs to do a thorough investigation to ascertain whether there is actually a theft case and whether the insured is being honest. Indeed this is very necessary since, in recent time there have been numerous cases of frauds committed against insurers by people who insured nonexistent vehicles with the purpose of making claims later ( within short period of time) on the insurers. Also there have been cases where people neatly sold-off their vehicles collecting the proceeds and bringing theft claims on the insurers.
Insurers havevthetefore become more eagle- eyed in the investigation of motor theft claims. Some of them insist on receiving almost all the following documents/items before setting claims:
(1) preliminary policy report
(2) Original purchase invoice
(3) original purchase receipt
(4)Delivery note
(5) Registration booklet
(6)Current vehicle license
(7) Current insurance certificate
(8All relevant keys e.g ignition keys, keys for the boot, petrol tank , pedal lock, etc.
(9) Final police report
The final police report is normally issued within a reasonable space of te (say we weeks) after the preliminary report.

 

[btaliat]

This type of insurance should be done especially in areas that's prone to theft. I have a question on this type of insurance. Let assume a theft happens to someone that's has insured his car against theft, does he still need to report to the police or just go to claim his compensation?

 

[Mandy96]

This insurance policy is cool but I don’t think the process works so fast and easy as written up there because most of these insurance companies usually think that the insured wants to have them fooled or taken for granted whenever the insured make a claim portending to what he or she insured.

 

[Mika]

I am not sure about the number of days you will have to wait to claim the insurance policy due to the theft of your vehicle. I guess this depends on country to country, or company to company. But I m sure it will be a long time because insurance companies do not pay abruptly.

 

[Mataracy]

I am not sure about the number of days you will have to wait to claim the insurance policy due to the theft of your vehicle. I guess this depends on country to country, or company to company. But I m sure it will be a long time because insurance companies do not pay abruptly.

Before one enter any contract with any insurance company one be to check on there record. And if one find out how people rated them and if the rate is about 90% then it worth partners with. And in the case of claiming so far one has been fulfilling one part as to the paying of premium very well without breaching the contract. So whenever its come to paying you back will not be heard at all.