Does Auto Insurance Cover a Stolen Car?

The amount of crime found in a particular area has an effect on a person’s car insurance prices, particularly if they are getting a full coverage insurance plan. If you find that your vehicle is at risk of being stolen, you may want to consider getting an auto insurance plan that provides this coverage. There are many ways to save money on auto insurance coverage that includes coverage for stolen vehicles, and there are many new technologies coming out on vehicles that help in the relocation process as well. Take some time to learn more about ways to save money on automobile insurance plans, including coverage in case your vehicle is stolen. Keep in mind that basic auto insurance coverage is not enough to give you financial protection if your car is stolen.

This article will explore multiple topics, all related to stolen cars and insurance. First, if you find your vehicle is stolen, you’ll want to know which steps to take for your insurance coverage to kick in, but also to start the path on the recovery process for the vehicle itself. If your vehicle is stolen, the first thing you should do is check and make sure that it has not been borrowed, and also that it was not in a tow-away zone. If it is in an area that specifies it could be towed, the signage most often has a phone number where you can call the tow truck company directly. They can let you know if your vehicle is in their system, which can save you time in terms of having to fill out a police report and wait for the police to arrive.

Many auto insurance companies will not allow you to file a claim without having a police report, so it is important to document your loss and what is going on for the insurance provider. After you file a claim, there will be an investigation of that claim, and your insurance company may work with the police to help recover your vehicle. Make sure to be open and honest with your automobile insurance company about the location where the vehicle was stolen and other details related to your case. Keep in mind the police will ask you for questions, such as your auto insurance provider's name and your policy number, the time you are away from your car, and other details. Once you have filed a police report, you can let your auto insurance company know that this has been done. They may request a copy of the police report to help them complete their own investigation and as a record that affirms you are taking the steps to recover your vehicle.

In many cases, if you have the proper types of insurance policy, the insurance provider will set you up with a rental vehicle for an amount of time while you are car is being looked for. Each car insurance company is different in terms of what they offer, so check-up and make sure that this is part of your plan. Basic automobile insurance coverage will not cover you if your vehicle is stolen; comprehensive insurance coverage provides financial protection. Comprehensive insurance coverage is an add-on to your basic policy. This type of coverage provides financial protection against multiple natural perils and also provides coverage if your vehicle is vandalized or stolen. You will still need to pay the deductible you select, another consideration before purchasing this type of coverage. It is essential that drivers have money saved to pay for their deductible, as this will help them avoid any delays in getting their vehicle repaired. In many places around the country, a vehicle is almost a necessity.

What To Do When Your Car Is Stolen?

The first thing you should do is make sure that your vehicle actually has been stolen. Sometimes people call the police to report a stolen vehicle, only to find out that their spouse had to move it to the street or to a parking lot in their area for delivery to occur. If your son or daughter may have borrowed your vehicle without asking, you may want to reach out to them and see. There are many reasons a car may have changed locations, something to keep in mind. If you have determined that your vehicle has been stolen or you highly suspected, you should contact the police to fill out a police report. This police report can be very helpful in tracking down your vehicle, but also working with your car insurance service to get a payout. The auto insurance provider you have selected will also likely do an investigation of their own. This is why it is essential to be honest when picking up an automobile insurance plan. In order for a stolen vehicle to be covered, a comprehensive auto insurance plan will need to be added on to your basic policy. If you have an older vehicle, getting comprehensive insurance coverage and collision insurance coverage might not make sense for your particular situation.

Also, every few years, you should compare rates on car insurance from multiple companies. This is the best way to save money on an automobile insurance plan. You can the money you save in your bank account for a rainy day, or you can use it to upgrade your automobile insurance policy and get a higher limit, a lower deductible, or more types of insurance overall. Having the right car insurance policy to suit your needs can save you a lot of money in the long run. In addition to shopping around, you should also make sure you are getting all of the discounts you qualify for. The free car insurance quote tools on this website are here to help you find the top prices for car insurance available in your area. Comparison shop for the types of policies that are right for you. This can include full coverage, collision insurance coverage, and comprehensive insurance coverage.

How Much Am I Covered For?

When people purchase automobile insurance coverage, there are multiple terms they need to be familiar with. First, is the minimum limit required for car insurance in the state you are purchasing your policy in. The minimum limit is the lowest amount of coverage, and the smallest number of types of insurance coverage, a person needs to have in order to drive legally. States do not require comprehensive insurance coverage, nor do they require collision insurance coverage, for people to be driving legally in the state. If you want your vehicle to be covered for natural perils, vandalism, and theft, you will need to purchase a comprehensive insurance add-on for your plan. In some areas, purchasing a comprehensive insurance policy also means purchasing a collision insurance plan. Each of these plans will have a limit assigned to them. You can choose to pay for a higher limit on your policy if you would like. The limit on your plan is the maximum amount your auto insurance provider will pay if your vehicle is stolen or damaged due to a covered cause. If your vehicle is totaled, if your limit is higher than the cost of repairs for your car, your full auto insurance limit is not what is used to determine how much money you will get as a payout, but rather the value of the vehicle you are driving at the time. This means if your vehicle has a policy for comprehensive insurance coverage at a limit of $30,000, and your car is stolen and not recovered, you may still only get the $4,000 that the vehicle was worth. Keep this in mind when purchasing a policy, as it is possible to purchase too much automobile insurance coverage for your needs. That said, you also do not want to purchase too little car insurance coverage, as it means you may end up paying more money out-of-pocket if the covered peril occurs.

What Happens If My Car Is Recovered?

In many cases, an automobile insurance provider will provide you with a rental car if you have comprehensive insurance coverage and your vehicle is reported stolen. This gives the police some time to investigate the situation, while also providing you access to a way to get to work, loved ones, family, and friends. If your vehicle is recovered, it may need to be inspected to determine what the extent of the damage to the vehicle is. If the expenses are more than the cost to replace the vehicle, and you have comprehensive insurance coverage, your automobile insurance provider may deem your car to be totaled and give you a payment for the value of the vehicle replacement. If this is the case, you may need to negotiate with your auto insurance provider. Sometimes they put a vehicle’s value at lower than the market price for the vehicle, which needs to be corrected, negotiated, and taken care of. If damage to the stolen car that was not previously there is less than the determined value of the vehicle, you may put in a claim for this damage.