What should an insured do if he loses the original insurance document?
Inform your insurer immediately
Post an ad
Often, insurers insist on publishing an announcement in a daily newspaper about the loss of an insurance document. The ad must be posted in the same state where you lost the bond. You must send the copy of the published announcement to your insurance company one month after it appears in the newspaper.
File a complaint with the police
Some companies request a copy of the police complaint report for misplaced insurance policy documents. A copy of the complaint must be submitted with the request to receive a duplicate policy.
Sign a bond
In most cases, you must sign an indemnity bond on non-court stamped paper if you lose the original insurance bond. The bond protects your insurer from any loss that may be caused by misuse of the original document. It also states that if you find the original policy document, you will return it to your insurer.
Once done, your insurance company after checking all the documents will issue a copy of your bond. The word “Duplicate” would be displayed prominently on the document. Check the details of the duplicate document and immediately report any discrepancies to your insurer.