On a national scale, nearly 36,000 vehicles worth Rs 115 crore are reported missing, out of which about 14,500 are retraced. Of those that are retraced, most are found to be ill-equipped for the road and missing important components.
Why cars go missing and how to avoid it?
Most car thefts happen due to the negligence of the owner while parking, says Mumbai Police.
Park at a secure location - The best defense against vehicle theft is parking your vehicle at secure facilities.
Etch the number on windows: Getting the number of the car etched on the windscreens and window glasses help police trace the stolen car.
Lock it up: Using steering lock, clutch lock, brake lock etc, and using theft tracking device are other measures that that can deter car thieves.
But what about the financial wreck if your car was actually stolen? Well, car insurance is always there to save the day. But claim rejections do happen. Here are some of the factors that which can get your claim rejected outright:
- Not having a valid Driving License
- Under Influence of intoxicating liquor/ drugs
- Accident taking place beyond Geographical limits
- While Vehicle is used for unlawful purposes
- Electrical/Mechanical Breakdowns
An insurer may not disburse the full value of IDV at the time of claim settlement, if the insured had not reduced the IDV by 10 percent from last year’s IDV or increased it (at the time of buying or renewing policy).
It is to be noted that filing a First Information Report (FIR) is necessary in case of theft. Documents as required by your insurer along with the FIR (which is released by Police in approximately three months) need to be filed with your insurer post which the amount is processed by the insurance company in a month.