Continue reading below to find out more about AXA car insurance renewal and all the key factors related to car insurance renewal in the UAE.
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Car theft is one of the worst things that anyone can experience. And since our cars carry our personal belongings too, there’s a risk of break-in too. Whether it is the car itself, just the personal belongings, or both of them that have been stolen, your heart and mind can rest a little easier if you have your own damage cover that insures your vehicle against all kinds of theft. Let’s understand how your car insurance plan will help you come out of this dire situation with different kinds of thefts related to your car and personal belongings with the personal belongings cover and the stolen car cover of comprehensive car insurance plans.
When your car is concerned, there are two kinds of thefts you may have to deal with - theft of the vehicle and theft of personal belongings. Personal belongings can be anything that is owned by the policyholders themselves and not borrowed. Anything else is generally considered a borrowed item. Naturally, two different car insurance covers cater to the two kinds of thefts. Stolen cars are often covered under your basic car insurance plan itself. There is no need to buy a separate cover for it. However, personal belongings are not included in basic comprehensive car insurance plans. You need to buy personal belongings cover add-on to cover them.
Depending on the type of theft, there can be two types of cover a car insurance plan can have – stolen car cover and personal belongings cover. A stolen car cover or car theft cover comes as a part of your comprehensive car insurance plan in most cases. However, a personal belongings cover has to be bought as an add-on in most cases. Some highly comprehensive plans may cover it as a basic benefit. Check out your policy wordings to confirm the same.
Both these covers can work separately or in combination, depending on the situation at hand. Given below is a brief description for your understanding:
If it is the only car that has been stolen and no personal belongings were stolen with it, your insurance plan will reimburse you for the value of the car itself. Here, your stolen car cover will come into effect. Note that you can only claim for things that are owned by you, the policyholder, under your personal belongings cover.
The stolen car and personal belongings will be covered separately by the two covers. Your comprehensive car insurance plan will pay for the value of the stolen car, while the personal belongings cover will pay for the stolen belongings. If you do not have an add-on for personal belongings, the insurance provider will not cover them with the stolen vehicle.
If your car was broken into, but only the personal belongings were stolen, your personal belongings cover will cover the cost for you. The damages caused to your car may also be covered by your comprehensive car insurance plan here. However, that highly depends on the flexibility of your coverage and the provider.
Following are the inclusions of a stolen car cover and personal belongings cover in car insurance plans:
There are no specific inclusions for a stolen car cover in a car insurance plan. If your car has been stolen, you simply need to file a report and inform your insurance company about the theft. The police will run the investigation as scheduled and the insurance company will settle the claim after it is closed. The claim payout will be in accordance with the assured sum of the plan as well as the market value of the vehicle.
Almost all personal belongings owned by the policyholder are covered by the personal belongings covered in a car insurance plan. Some plans may exclude electronic devices from this list. However, you can confirm if your plan includes it by simply reading the policy wordings. Given below are the two scenarios where your personal belongings cover will come into effect:
In addition to the personal belongings stolen, the insurance plan may also cover damages caused to your car when it was broken into for the theft. Check out the extent of coverage in your policy documents.
Since there are two covers dealing with theft in car insurance, two sets of exclusions may apply. Given below are the complete lists for the same:
Given below are the steps you need to follow in order to file a claim for your stolen car:
Contact the police and let them know about your stolen personal belongings from your car. Make an itemized list of everything that was stolen from the car. Submit that list to the police along with an official report of the theft.
Call your insurance provider and inform them about the theft. You will need to fill a claim form and submit it with a bunch of important documents.
Submit all the documents to the insurance company along with a no-trace report from the police. Your claim will be settled as soon as the provider has examined and approved it.
The same itemized list of everything stolen has to be submitted to the insurance provider as well. Make sure you include everything in this list. Anything that has been left out will not be compensated for. Also, add damages to your vehicle that were sustained during the theft (applicable when the theft was committed by breaking into your vehicle).
Once the claim has been examined thoroughly and approved, you will receive the reimbursement amount.
You must have a complete understanding of theft cover and personal belongings cover in car insurance plans by now. However, just because your insurance provider will cover most of the damages you sustained because of the theft doesn’t mean you can afford to be careless with your car. Always make sure that you lock the car properly with all the doors and windows closed. Try not to leave any personal belongings in the car overnight or during the day, especially expensive ones like gadgets and jewellery. Take care of these few precautionary steps, and if you still happen to get robbed of your car, your insurance company will come to your rescue right away.