What You NEED To Do:
- Make sure this isn't a prank by your friends or towed away.
- Ask people around the area if they have seen or have any leads.
- Look for clues - sharp objects/pieces of broken window/wallet/etc...
- Snap picture of where you parked your car & any evidences you find; then call the police ASAP.
Can You Claim from Insurance Company
- Type of Car Insurance - Did you get (i) Comprehensive cover or (ii) Third party fire & theft? If you got the (ii) Third party coverage, then no you cannot claim when your car gets stolen - only for bodily injuries/death/loss & damange of your property.
- Nature of Theft - If you handed over your keys to someone and your car gets stolen, then the answer is NO. Actually, it would be considered an Act of Negligence by the owner (you).
How Much Will You be Compensated
Well it will be based on a fair current market value or the sum insured at the point of loss. NOTE: Fair current market value is based on the time you lost the car.
It is important that you make sure your sum insured is sufficient to cover your outstanding loan. If you don't agree to the settlement offer, you can file an appeal letter to the insurer with relevant documentation.
You will receive the settlement offer within six (6) months from the time of theft notification or police report approved.
TAKE NOTE: (a) All your add-ons like sub-woofers/LCD screen/sport rims etc will not be compensated. (b) You outstanding loan has nothing to do with the insurance company. That's between you and the bank.
If You Recover Your Car
If you found your car while insurance claims is still in progress, the car is still yours. However, if there are damages that require fixing, you can apply for damage claims from your insurer BUT you will have to forfeit your No Claim Discount (NCD).