If you have encountered theft of your precious belongings and need to approach your insurance company to register claims, the process might not be as simple as you think. Getting an insurance claim payment is a slightly more complicated process than the likes of getting your health insurance or motor insurance claims.
That’s because you need to inform the local police of the loss. That is the starting point. “For any case of a theft claim, there is a need to file a FIR in the nearest police station. The insurance companies will go by the findings of the local police station and wait for a confirmation from them to establish the loss of an item was due to theft. The local Police station will issue a ‘Non Traceable Certificate’ which normally takes between 1 to 3 months. Most theft claims fail to reach this stage of getting a ‘Non traceable certificate’ and hence they are rejected,” says Nikhil Apte, Chief Product Officer, Royal Sundaram General Insurance Co.
M Ravichandran, President – Insurance of Tata AIG General Insurance, provides the basic procedures that needs to be followed in theft cases for insurance claims to be paid.
The insured must lodge the First Information Report (FIR) with the police
Take photographs of the crime scene. Do not disturb the affected area till the area is inspected by police
|Procedure for Claiming Insurance due to Theft|
Immediately notify insurers mentioning the policy number, your contact details and request for immediate arrangement of survey
The policyholder should provide proof of theft/loss of property due to burglary/theft
Submit indicative documents such as home agreement copy, FIR copy, inventory/list of items stolen with approximate value.
In case of business establishment –stock statement, bank statement, books of accounts, supporting invoice etc.