Losing crucial documentation related to your car can be very stressful, particularly if it is your driving license or car insurance certificate that is missing. But you need not worry too much; your driving license, pollution under control (PUC) certificate, and insurance certificate can all be replaced easily. You just need to be aware of how to get the documents replaced.
Here, we have put together a checklist of things to do if you happen to lose your important car insurance document.
- Inform the car insurance company - The first thing to do when you find that your car insurance certificate is lost would be to contact the insurance provider and inform them about the same. It is crucial that you report the incident as soon as possible and get a replacement certificate, as driving without insurance is a crime that will lead to penalties. Under the Motor Vehicles (Amendment) Bill 2016 that was passed in the Lok Sabha in 2017, the penalty for driving without vehicle insurance has been hiked to Rs.2,000.
- File a police complaint - Filing a police complaint to report the missing insurance documentation will be helpful in justifying your condition when you approach the insurer for a duplicate copy of the policy. You should also keep a copy of the FIR to present to relevant authorities.
- Place an advertisement - It is necessary that you place an advertisement in an English and a vernacular newspaper in circulation within the state where the policy was misplaced or lost. The cost of publishing the advertisement will be borne by the policyholder.
- Write to the insurer - You should write an application for a duplicate insurance certificate and submit it to the insurance company. The application should include the policyholder’s name, the policy number, the type of coverage, date of issuance, etc. You should also submit a copy of the police complaint. The insurance company would be interested in knowing the reasons for the loss of the documents; so it is important that you include these details in the application form.
- Indemnity bond - The last step in the procedure to request for a duplicate copy of your car insurance is executing an indemnity bond. You should also get the bond affirmed before a notary. Based on the insurance provider and the state in which you reside, you may have to pay a stamp fee for procuring the duplicate. There may also be a fee associated with the issuance of a duplicate certificate. You will have to check with the insurance company on the formalities.
Once the insurance company receives all the relevant documentation, it will issue a duplicate copy of your insurance policy. The term “duplicate” will be clearly displayed in the document. It is advised to keep your insurance documents safe in a bank locker or opt for an online policy.
Benefits Of Buying Insurance Online
One of the most prominent benefits of buying an online insurance policy is the fact that it is easy to maintain and immune to theft/loss. The policy will be available online and can be renewed easily as well. Online insurance is also easy to purchase and does not involve the hassles of indefinite paperwork. Insurance companies are of the opinion that buying insurance online is more safe than purchasing it from agents, as the websites of insurers use global security standards to safeguard sensitive information of customers.
It is possible to compare insurance between companies and narrow down on a policy that suits your specific insurance needs. It is also possible to go one step ahead and buy insurance after policy comparison directly from the third-party website. This will save you a lot of time and effort that you would otherwise spend on purchasing insurance offline.
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