Every driver’s worst nightmare is having their automobile stolen, and the incidence of car theft is rising yearly.
Car insurance theft claims are not covered by our high risk auto insurance companies
However, some insurance plans offer whole coverage for an automobile that has been stolen.
More than 810,000 cars were stolen in our nation in 2021. Consider the following: You have left your car in the garage of a friend’s building. You are unaware that the region around the building is dangerous and prone to auto theft. However, you discovered that your car was missing after a few hours. While you were out with pals, someone took your car.
RateForce is aware that any motorist may find this terrifying and stressful. However, you might not need to worry as much about a stolen car if you have insurance. However, not all policies do; there aren’t many automobile insurance coverage that do. You can learn everything about auto insurance from this guide.
Does Theft Fall Under Car Insurance?
Does auto insurance cover theft? is the first and most pressing query that comes up. It does, indeed. However, only a small number of auto insurance coverage offer this protection. Every firm has its unique terms and conditions for various policies; some companies provide full coverage for everything, while others do not.
Therefore, it’s crucial to discuss this with your insurance provider before purchasing a coverage. Inquire about a comprehensive coverage quote, review the options, and choose the one that best suits your needs.
Will Auto Insurance Pay for Vandalism?
Yes, just with auto insurance theft, vandalism is also covered, but you’ll need to double-check the terms of the policy. Ask your employer about this because not all auto insurance policies will cover vandalism.
When Your Car Is Stolen, What Happens?
There are a few steps you must do if your car is ever stolen in order to ensure that your insurance claim is filed promptly. Here are some actions you can do in the event of a car theft.
Report to the police
Informing the police and reporting the incident are the first things you need to do. This is dependable evidence of the theft and will support making a claim.
Speak with your insurer
The next step is to get in touch with your insurance provider, let them know about the theft, and explain the claim-filing procedure.
Make Contact With Your Leasing or Financing Company
Inform your financing or leasing company of the theft if your vehicle was leased or on loan. This will give you some time to think about what to do with the outstanding money.
Make an effort to find your stolen car
To find the car, you can search on your own or with the help of the police. You can easily track your car from your mobile phone or computer if it has advanced features like geo-tracking.
What Takes Place When Your Car Is Burgled?
If someone broke into your automobile and took a few items, you must take the actions listed below.
To document the incident, take pictures of the situation from several perspectives.
Make a list of all the car accessories that are missing.
Make an official report and alert the police.
If you have personal property add-on coverage, let your auto insurance provider know.
Solicit compensation as quickly as you can.
Insurance coverage options that could be useful if your vehicle is stolen
Car theft is not covered by liability insurance; you must get additional coverage or add-ons to be adequately protected. Some helpful insurance options are listed below.
If your automobile is stolen, a comprehensive insurance policy will cover it. It might be slightly more expensive than liability coverage, but it will offer additional coverage and allow you to live stress-free.
Coverage for Custom Parts and Equipment
Only parts that were fitted by the car’s factory will be covered by comprehensive insurance. Your insurance won’t submit a claim for any other upgrade. In the event that your upgrades cost more than normal, it is preferable to obtain coverage for custom components and equipment.
Insurance for Gaps
You will receive your claim under comprehensive insurance based on the vehicle’s real cash worth. However, this value can be considerably less than the loan or lease you had on your car. You can fill the gap with the aid of gap insurance.
Insurance Policies That Will Not Cover Your Car Theft Claim
Are you unsure if all insurance coverage will cover claims for automobile theft? No, is the response. The following insurance plans exclude coverage for car theft claims:
Insurance for uninsured and underinsured drivers
Insurance for Medical Expenses
Protection Against Personal Injury
Is Personal Property Theft From Your Car Covered by Auto Insurance?
Personal property is not covered by comprehensive or any other type of auto insurance. Only you can file a claim for any item stolen from your automobile if you have a personal possession add-on to your comprehensive insurance.
Does Auto Insurance Cover Parts Theft?
Yes, the stolen car parts are covered by your auto insurance policy, but only under the comprehensive coverage option. You can submit a claim for stolen car parts if you have comprehensive auto insurance.
Does Auto Insurance Cover Catalytic Converter Theft?
One of the key elements of the emissions system is the catalytic converter. In our nation, catalytic converter thefts are happening more frequently every day. Theft of these vehicles is only covered by value auto insurance due to their catalytic converters. Theft of a catalytic converter is not covered if you simply have state liability insurance or collision insurance.
How much will I receive for my stolen car?
How much money will I receive if my automobile is stolen is another crucial issue that crosses our minds. Each driver’s cost for auto insurance is influenced by a variety of variables. You can file a claim for your stolen automobile in one of two ways:
Real Money Value
The insurance provider will consider the vehicle’s age and the date of purchase before determining its actual cash value. Additionally, you will receive an actual cash value claim less the deductible.
Making a Disputed Offer
Because the insurance provider is not aware of the condition and extras in the automobile, the true cash value of a car can occasionally be substantially lower. You may make a counteroffer if you can back it up with documentation, such as receipts and photos, attesting to the condition and improvements of your car.
What Takes Place If Your Car Is Stolen and Found?
If you have already filed a claim against your vehicle and are now receiving it back, the insurance provider is the rightful owner of the vehicle. The police will call you to ask you to identify the stolen vehicle after informing you about it.
When you are finished with identification, you must phone your insurance provider and let them know what has happened. The firm will then either directly contact the authorities or tow the vehicle away from your home.
Can I Receive A Discount For Anti-Theft?
Does your car have anti-theft technology installed? You can get an anti-theft discount if your vehicle is equipped with sophisticated technical systems that can prevent theft. Request that your insurance provider include your anti-theft equipment in its inventory and offer discounts as a result.