What steps do I take if my car is stolen?

If your car gets stolen, you should immediately file an FIR at the nearest police station and take all possible steps to trace your car. The next step is to inform the insurance company enclosing a copy of the FIR. The insurance company will investigate the circumstances of loss. As per the investigation report, if the cause of loss falls within the coverage extended under the policy, the insurance company will pay the claim. Before releasing the cheque they will require a certificate from the concerned police station stating that the vehicle is still untraced. The basis of compensation will be the insured value, which is the same as the insured’s Declared Value. The insurers may deduct a nominal amount as depreciation for use from the date of insurance to the date of theft.