Filing an insurance claim when your car has been stolen requires patience, diligence and a firm understanding of your policy. This article will guide you through the process.
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Responsible vehicle owners know that having car insurance isn’t a luxury – it is an essential part of car ownership in South Africa. Thousands of vehicles are stolen or hijacked in Mzansi every year, with many being cloned or crossing the border to neighbouring countries. Car jamming has also become quite common, with many drivers unaware that their cars have not been locked when they leave them.
Fortunately, having a car insurance policy helps you cope with the financial fallout that comes with the loss of a vehicle. Budget Insurance brings you this guide to filing a stolen-vehicle claim; by following the steps as efficiently as possible, your inconvenience of being without a car will be limited to a minimum.
Don’t wait too long before filing your insurance claim
It can happen to anyone. In the blink of an eye, your beloved car can vanish without a trace. Being a victim of car theft is a harrowing experience and, when you’re stressed, “paperwork” or “admin” may be the last thing on your mind. However, bear in mind that when you file a car insurance claim, it’s critical to submit it as soon as possible. Any claims made later than 30 days after the incident can’t be processed.
Also, your insurer can help you with your stolen-vehicle claim, depending on the type of cover you’ve taken out… Comprehensive Car Insurance and Third-Party, Fire and Theft Car Insurance policies cover you for theft or hijacking. Third-party Only Car Insurance, by contrast, will only cover you for the costs of damages made to another vehicle, object or structure if you are in a car accident that was your fault.
What to do if your car has been stolen
Remain as calm as possible and follow these steps to submit a stolen-car insurance claim successfully.
1. Activate your tracking device
If you have a vehicle tracking device fitted in your car (some insurers make it mandatory for their policy holders’ cars to be so-equipped), one of the first things you should do is contact the service provider to activate it. They have sophisticated technology at their disposal and may be able to recover your vehicle.
2. Report the theft to the police
The sooner you contact the police to report a stolen car, the better. You will need to do this to file a car insurance claim. Go to the nearest police station to report the crime and fill in paperwork to open a case.
You will need:
- your driver’s licence
- vehicle registration details
- the make, model and colour of your vehicle
- the vehicle identification number (VIN)
You should also tell the police if your car has any distinguishable features, like dents or modifications.
3. Get a case number
Once you have filled in a police report, take the time to read through it again to make sure that everything is correct. Also, take note of the name and rank of the police officer who is assisting you. Ask the officer to make a certified copy of the report, as you will need to give this to your insurer.
The officer will give you a case number. This is very important information that you must keep safe as it is needed to make the car insurance claim.
4. Notify your insurer
Now is the time to contact your insurer to file the claim. The claim’s consultant will ask for information similar to that given to the police, as well as the case number and the certified copy of the police report.
5. Allow the claim to be processed
Once you have filed a claim, you will be assigned another claim number. A consultant will be assigned to assist you and provide you with all the details and updates on the progress of your claim. If your claim is approved, your insurer will determine the value of your stolen car and provide you with a monetary settlement amount or arrange a replacement vehicle of similar value – it depends on your policy.
Remember, you will be responsible for making an excess payment as specified in your policy. This is the amount you contribute before your car insurance will pay out your claim. Once the “deductible” has been paid, your insurer will compensate you for the remaining amount up to your particular policy limit.
See also: How To Work Out Car Insurance Excess & Deductibles
Car Insurance and stolen cars: What you should know
- How long does it take to process a car insurance claim?
There is no definitive timeline because each case is different. A team of experts processes every claim, and the length of time each claim takes depends on the type of claim submitted. Stay in touch with your consultant, who will keep you informed about what is happening/where you are in the process timeline.
- What happens if my stolen car is recovered?
If your car is recovered after your insurance claim has been processed and you have already been paid out for a replacement car, the recovered car automatically becomes the property of your insurer. If any personal belongings are found in the recovered car, these will be returned to you, however.
If your car is recovered before the claim is processed, you must inform your insurer immediately. You will also need to get a clearance certificate to remove your vehicle from the police’s stolen-vehicle database.
- Can I claim for the contents that were in my vehicle when it was stolen?
Even comprehensive car insurance does not necessarily cover the car’s contents when it was stolen. If you want to protect any high-value items in your car, it’s best to take out portable possessions insurance.
This comes standard when you have a home contents Insurance policy with Budget Insurance and provides general cover against theft, loss, and damage up to a certain limit. However, you need to have a vehicle- or home contents insurance policy to qualify for portable possessions insurance. You also have the opportunity to specify your more expensive items, such as your iPad, laptop, camera, and jewellery.
Get a quote now
Gain peace of mind in knowing that there is always someone available to help you in your time of need. If you take out a Budget Insurance policy, you’ll also get the benefit of Road Assist. You never know when disaster may strike, so ensure you have as much protection as possible for your security.
Remember, if you want to learn more about car insurance or review your car insurance requirements with the help of experts, Budget Insurance’s team is always ready to assist. Contact them on 086 1600 120 or leave your details and they’ll call you back at no expense to you! You can also request an online quote.
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