Car insurance is more often than not a straightforward choice. It is common knowledge to have at least third-party insurance plan for your vehicle. However, there is an alternative to that—a comprehensive policy which provides not only the minimum required coverage but also own-damage cover. But here’s what you need to know– your standard comprehensive car insurance policy, just like all insurance policies, has certain limitations. One of those limitations include no coverage for loss of personal belonging kept in the car. Imagine losing your brand-new mobile phone or laptop that you left in your car.
A comprehensive four wheeler insurance policy, inherently, does not cover such loss of personal belongings, however, with an add-on facility, it can be insured. Add-ons are optional covers that can be opted at the time of renewalor purchase that enhance the policy coverage significantly. So, to ensure protection for these kinds of losses, a loss of personal belongings in car insurancecan come handy. * Standard T&C Apply
Personal belongings add-on cover
A loss of personal belongings cover can be purchased at an additional premium in during car insurance renewal. This add-on covers the losses due to damage or theft of your luggage from your car. Some insurance companies have specific bifurcations in the different insurance covers that can be bought to insure different assets. Examples include personal belongings add-on for electronic equipment, damage specific personal belongings add-on cover or even theft specific personal belongings add-on cover.* Standard T&C Apply
Before buying, you need to check what your insurance company has on offer. It can even be a mix of the above-mentioned examples. In some cases, the insurer might not have such specific add-on covers, but a general one.
How to raise a claim for loss of your belongings?
The procedure to raise a claim is more or less similar to making a car insurance claim but with some minor differences.
Step 1: Intimate the insurance company regarding the loss of the items. You need to describe the asset lost.
Step 2: File an FIR or first information report thereby making a formal complaint of the lost item.
Step 3: The insurance company shall verify the claim and check for the eligibility depending on your insurance policy.
Step 4: Once the eligibility is determined, a surveyor authenticates the claim thoroughly.
Step 5: All genuine claims are honoured whereas false claims are rejected at this stage.
Step 6:Any dissatisfaction by you, the policyholder, can be resorted using the legal measures that are available.
Note that the claims settled are considering the depreciation on the asset as per the terms of the insurance company. In conclusion, remember that loss of personal belongings in car insurance is an added facility and must be thoroughly understood before purchasing. Make sure you read the exclusions of the policy before zeroing down. Also, note that insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.