Enter your ZIP Code
to get insurance quotes in your area

Wrong zip code

Does Car Insurance Cover Theft?

Many people are often concerned about what will happen if their car is stolen or what would happen if it were broken into. There is a lot of advice out there on how to protect yourself from auto theft and being broken into, and knowledge is power. People believe that this will not happen to them, but every 30 seconds, another car has been stolen in the United States, with a higher risk in busy urban areas on average. No matter where you are, your vehicle could be stolen, or it could be broken into. There are ways to protect yourself from both of these things, including getting an appropriate auto insurance plan. Not all car insurance plans cover the theft of a vehicle, however. You will need to have the right car insurance plan, preferably in the proper amounts, to recover from financial loss that can come if your vehicle is stolen. You should also take note of which steps to take if you are a victim of car theft. Shopping around for an automobile insurance policy that suits your needs at the lowest cost and the highest quality is easy to do on this website. The tools here give you access to free quotes that can help you find the best prices for car insurance available in your area. These tools can also help you understand more about which types of policies are best for your unique needs.

Does Car Insurance Cover Theft Of A Vehicle?

The answer to this, both yes and no are valid answers. It really depends on the auto insurance policy you decide to purchase. Each state has minimum requirements for car insurance a person needs in order to drive legally. Outside of this, optional auto insurance plans can also be purchased. Both collision coverage and comprehensive insurance coverage are optional add-ons that can provide immense value. A collision insurance policy covers damage due to your vehicle running into other vehicles or things, or another car running into it. It covers automobile accidents. Comprehensive coverage, however, is what covers auto theft, vandalism, and numerous weather-related perils. Both of these are optional, and in some areas, they need to be purchased in tandem. People who only have liability insurance will not have financial protection from theft. This includes the theft of the vehicle. Comprehensive insurance coverage also covers vandalism, which can include broken windows, broken door locks, and more. If your vehicle is broken into, there are multiple steps you should follow for the optimal outcome. Some of these are done before the claims process begins.

What Should You Do If Your Car Is Stolen Or Broken Into?

The theft of items and personal property from within the vehicle is more common than people think. The same goes for car theft. If either of these things happens, these are steps that need to be done and paid attention to. Filing a police report can be a help, and for some auto insurance providers, it is required. Get in touch with your car insurance company and get updates your policy literature to determine if this is the case. Keep in mind that there will be a bit of time in between when you file your insurance claim and when you receive a payout. There will be an investigation of the circumstances to make sure your vehicle was stolen. If this inspection goes well, your insurance company will calculate the value of the vehicle stolen and/or the contents. If your car is stolen, the actual cash value of the car will be determined. This takes into consideration the amount originally paid for the car, the wear and tear that is happened for general reasons, and more.

Patience is necessary when filing a claim for car insurance. Receiving the payout on your claim may take a few weeks. This payout will be the Actual Cash Value of the vehicle as determined by your auto insurance provider, minus your vehicles deductible. In some cases, you may need to negotiate with your insurance company if the number they come back with for Actual Cash Value is too low. Adjusters, which determine this value and are employed by the auto insurance company, often start on the low-end when calculating the ACVs, or Actual Cash Value.

For the theft of personal items in your vehicle, like expensive electronics, purses, and more, comprehensive insurance coverage does not cover these costs. Instead, other insurance policies can, however. If you have homeowners insurance or renters insurance, these can provide financial protection for these unfortunate thefts. If your vehicle is broken into, keep in mind that you can file a claim for damage to the vehicle. Broken windows, locks, and other parts of your car can be covered by your comprehensive coverage plan.

Car thefts can occur in many situations, and your comprehensive auto insurance plan can cover your losses even if you left a key or a key fob in your vehicle. A person who leaves their key fob in their vehicle is at a higher risk for their car being stolen overall, but these thefts are still covered in most cases.

A rental car may be necessary for some people, if only for a couple of weeks, while they wait for their vehicle to be recovered or their claim to go through. In many cases, your car insurance company will provide a claim limit to help cover the costs of a rental vehicle for an amount of time stated in your contract. If your original car is determined to be a total loss by the auto insurance company, policyholders have a limited amount of time to use a rental car, and they will need to use their payout to find a replacement for their original vehicle.

If your vehicle is recovered, you will need to get an assessment of the car to determine if the car has been damaged since its theft. If it has, you could receive a reimbursement for the repair costs through the comprehensive coverage portion of your insurance policy. Even if a vehicle is recovered, it still might be considered a total loss. If this is the case, you will be awarded the Actual Cash Value of the vehicle, which can be applied towards a replacement. The deductible you owe your auto insurance provider will be taken out of this payout.

How Can You Protect Yourself From Car Theft?

There are ways to protect yourself from having your vehicle stolen, and there are ways to help prevent items in your vehicle from being stolen as well. Both of these can help reduce the likelihood that you will need to file a claim. First, if your keys or key fob is easily visible inside of your car, especially through the windows, you are at a higher risk of car theft. Bring your keys and your key fobs with you even if you have a vehicle that is keyless entry. Some people choose to keep their key fob in the vehicle, but even if someone sees you putting it in the glove box, they will know that it is there. Car theft can also be deterred if a car alarm is installed in the vehicle. There are numerous types of auto alarms, many of which can also give people a discount on their automobile insurance.

Car insurance is another way to protect yourself from car theft losses. While basic auto insurance coverage does not provide financial protection in terms of theft, comprehensive insurance coverage does. In terms of the theft of personal items in your vehicle, look into your homeowner’s insurance or renters' insurance plan to see if these things are covered by them. Your comprehensive insurance coverage plan will not cover the loss of items inside of the car but focuses on damage to the vehicle itself. In addition to covering theft, comprehensive insurance coverage provides financial protection against vandalism and a wide range of damage due to weather and nature. If you are looking to purchase a comprehensive insurance plan, use the tools on this website. You can quickly and easily find the best prices for car insurance available, including on the comprehensive insurance plan you will want to protect yourself from weather-related perils, theft, and vandalism. Comparison-shopping is one of the best ways to save money on auto insurance, and it is recommended to look into the money you can save every few years. Bookmark this page and come back to it often to check on savings you can get by changing current insurance providers.

 
5.0out of 58 user reviews

Add new comment

CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.