Are my personal belongings covered by car insurance in case of theft?

-

It’s quite common for personal belongings to wind-up in the car.  Things like a laptop, tablets & reading devices are often used while traveling. It’s understandable given that most of us have long commutes and we might as well utilize this time get some work done or catch up on the latest shows. Wouldn’t it be devastating to find that your car has been stolen and with it, all these cherished personal belongings have also been lost?

Well sure, your car insurance policy will provide compensation, but this will be limited to the car itself, not your personal belongings. The policy will pay the current IDV of your car or the on-road value of the vehicle (only if you have the return to invoice add-on), but you will not be reimbursed for your personal belongings.


This where personal belongings add-on could help!


Just because a standard comprehensive motor insurance plan does not cover the theft of your personal belongings, that doesn’t mean you cannot get cover for these objects. All you have to do is opt for the ‘Personal Belongings Add-on’ and voila, you now have cover for the previous objects you bring into your car.

Exclusions of the personal belongings add-on.

The personal belonging add-on cover is great! It ensures you are protected from theft of your cherished personal belongings. However, this add-on has its limitations too! So, if you are thinking about including such an add-on to your policy, remember that the following situations are not covered:
-If the incident arises due to negligence on the insured’s part
-If the belongings are not generally carried around by the insured
-If the theft is not reported to the police within 24 hours
-If the items belonged to someone other than the insured
-If the stolen items are not mentioned in the police report
-If the belongings were left overnight in the car
- Also, most insurance companies do not cover the theft of documents either.

The claim process:

The claim process for this add-on is similar to that of a normal claim. You need to begin by filling an FIR with the police. Remember that this needs to be done within 24 hours of discovering the theft. You need to mention the articles stolen or else you will not get any compensation for them. After this you need to approach your four Wheeler insurance company with the following documents:
The duly filled claim form
A copy of the FIR report.
A copy of the investigation report from the police.
Invoices and receipts of items you are filing the claim for.
Post this; you will also have to inform the RTO about your stolen car so that they can take begin any proceedings that they have to at their end. We hope you never come across a situation wherein this information comes in handy, but if you do, we hope this article will be helpful. Good luck and all the best, drive safe!



Comments

Post a Comment

Popular posts from this blog

Everything you need to know about motor insurance on a leased vehicle

-
Image
If orange is the new black, then renting is the new owning! Sure, buying a home or a car has always been joyous moment, but the new generation is looking for practicality and they find it in the form of leasing. Until not too long ago, leasing was reserved for corporate big shots and luxury cars. Companies offered their top executives swanky premium cars as perks of the job. However, the concept of leasing a car is picking up steam, and if you’ve been thinking about giving it a try, this article will further your planning and understanding of the concept by throwing light on the motor insurance aspect of car leasing. Do I need to buy insurance on a leased car? This is one of the biggest differences between owning and leasing a car. With your own car, you need to pay for various things such as a motor insurance plan , vehicle upkeep and in some cases, vehicle repair. However, with a leased car, the lessor will usually take of these aspects for you. Therefore, you wil
Read more

Do you need a motor insurance plan even if your vehicle is under warranty?

-
Image
Car insurance and warranty are very important for your car. However, there is no comparison between the two - they are completely different elements of protection that are designed to complement each other. Unfortunately, some car owners feel that, if they have one, they don’t need the other. It is due to this misconception that many of them even fail to renew their insurance policies . Keeping this in mind, the following article will explain both and explain why you need insurance despite having multiple years of warranty for your car. Vehicle warranty: Vehicle warranty is what keeps you insulated from bills that arise due to any manufacturing or material defects. It’s a written guarantee that the car manufacturer will bear the cost of repairs or replacement in case your car’s parts do not work as promised for a certain period of time. Most manufacturers will provide standard warranty when you buy the car and offer the option of extended warranty to get protection from m
Read more

3 times when it is better not to make a claim against your car insurance

-
Image
Along with the growing percentage of vehicles in India, the importance of road safety has also increased. This is why getting motor insurance has been stressed up on; it keeps motor vehicle users protected from financial damages that might arise after an accident or mishap. Having a third party car insurance is regarded as a compulsory measure by the Law and using an uninsured vehicle is punishable. Motor insurances work as a tool when one is affected financially by an accident or other man-made or natural calamity. Essentially, insurance is taken to get a cover in times of vehicular damages. However, it is not always suggested to claim the insurance amount. It’s confusing but believe it or not, there are occasions when it is better not to make a claim against your insurance! Here are 3 of these occasions. 1.        In case of minor damages It goes without saying, accidents lead to vehicular damages. However, in many cases, the damages to the vehicle are not major a
Read more