Theft Claims


1. My vehicle was stolen. How do I make a theft claim?

a) Remain calm and ascertain whether your vehicle has actually been stolen. Eliminate the probability that your vehicle has not been towed away or seized by the local authorities for errant parking/ traffic obstruction or repossessed by your hire purchase owner or finance company.

b) Immediately lodge a police report at the nearest police station with details such as date and time when your car was parked, date & time of loss being discovered, exact location of loss, vehicle’s particulars (registration no., make & model, chassis & engine no (if available). It is best for you to bring along a copy of the vehicle’s Registration Card for easy referencing and action by the police.

c) Collect the Claim form and notify your insurer or your servicing agent within 14 days.

d) Fill up the Claim form attached with the relevant documents to the insurer within 14 days. 2. How much does my Comprehensive motor policy compensate me for my stolen vehicle? What happens if I under/over insure my vehicle?

The theft claim will be settled based on the Market Value of the vehicle at the time of loss or the Sum Insured, whichever is lower. As such, if the vehicle is under-insured, the settlement will be based on the Sum Insured, likewise if the vehicle is over-insured, the settlement will then depend on the prevailing Market Value.

3. Why does a theft claim takes 6 months or more to process?

The period given by Bank Negara Malaysia (in its guidelines on settlement of vehicle theft) is stipulated to be processed within 6 months. However, in most cases, claims are settled as soon as the theft investigation is finalized without any irregularities being detected and all documents required for claims processing with payment have been processed.

4. I am not satisfied with the amount has offered to compensate the loss of my vehicle as I feel the amount offered is lower than the market value. How do I appeal?

If you are not satisfied with the claim offer amount, you can always file an appeal letter to the Claims Manager with relevant documentation justifying the vehicle’s Market Value (at time of loss) or the supposed settlement amount (e.g. newspaper clippings, classifieds, written quotations or valuation from reputable car dealers). Your appeal however, will be subjected to further deliberation.

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5. What should I do if the police inform me that my stolen vehicle has been found?

You are to immediately channel the said recovery information to the insurance branch office or Motor Theft Recovery Section at Headquarters for further advice on appropriate action. If the vehicle is recovered before the theft claim is settled, you will have options to either:

a) To withdraw the claim (if the vehicle is recovered in good condition).

b) To withdraw the claim and undertake the repair at his own expense (if the vehicle sustained minor damage and the insured wishes to retain his/her NCD entitlement).

c) To withdraw the Theft Claim but pursue with Own Damage Claim (if vehicle recovered sustained extensive damage or has missing parts).

6. If the insurance company has already compensated me for my stolen vehicle and the police found my vehicle later on, can I get my car back? What should I do?

a) In the event that a theft claim has been settled or paid by the insurance company, they will automatically have legal interest or ownership claim to the subject vehicle irrespective of the theft recovery aspect.

b) If you receive police information pertaining to the recovery of your stolen vehicle after we have settled your claim, please channel the said information immediately to any of the insurance branch office or the Motor Theft Recovery section in Headquarters for them to physically recover the said vehicle.

c) If you wish to get back your recovered vehicle after insurance company has settled your claim, you may officially write in to our Wreck Tender Committee indicating the amount you wish to offer for the committee’s consideration. However, this is only applicable when the vehicle is released by police without any condition or court bond.

d) Under normal circumstances, all theft-recovered vehicles will be listed for wreck tender exercises to other parties or panel workshops by the said committee.