How to Know What to Expect From Stolen Car Insurance
Read any stolen car insurance agreement that you make carefully. You may only be entitled to a claim under certain circumstances and after a certain period of time has elapsed from the disappearance of the vehicle. There may also be additional complications if the vehicle is recovered after the insurance company has paid out the stolen vehicle claim. Additional payments may be necessary to get access to compensation, such as replacement rental car service.
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Instructions
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Review your auto theft insurance agreement and contact your provider if you have any questions. Consider agreeing to a rental car replacement in case of theft. In some cases, you may be entitled to a rental car of a similar make and model to your stolen vehicle for a year or longer.
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Expect to have any damage done to a recovered stolen car to be covered by the theft insurance rather than collision insurance. Usually, the theft policy has a lower deductible, so this may save you money on the repairs.
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Anticipate that the insurance company will not compensate you for any personal items that may have been stolen from the vehicle. This may include audio equipment, money, documents, clothing, electronics or any other property that may be missing from the stolen vehicle after police recover it.
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Install anti-theft technology and inform your insurance company in order to get lower rates. These can include steering wheel locks, special alarms or computer systems that communicate with a central service by satellite. In some rare cases, an insurance company may challenge a stolen vehicle claim if they can demonstrate that the policy holder behaved in a reckless or fraudulent manner that greatly increased the chances of the car being stolen.
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Consider getting comprehensive auto insurance. This covers any damage to the vehicle that does not involve an accident with another car, including theft. Most states only require that drivers purchase liability coverage that pays out claims if the driver damages other vehicles.
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