It is a horrible feeling to realize your car has been stolen and to be unsure if your insurance will cover it. You may wonder, can I get stolen car insurance? Well, there is no such thing as stolen car insurance; however, if you have comprehensive car insurance, a theft is covered in most circumstances.
The following article provides details about circumstances that affect coverage of your stolen vehicle as well as ways to keep your vehicle safe.
Read on to learn all about stolen car auto insurance coverage and then to find the very best auto insurance rates be sure to enter your zip into the tool above for a free online car insurance comparison!
What circumstance may cause a vehicle to not be covered, if stolen?
As stated before, if you have comprehensive coverage on your vehicle and you are current on your payments, your vehicle will be covered for damages caused by animals, trees, objects, vandalism, flood, and theft. The insurance company will do their part; however, the insurance company also has expectations for you, the car owner.
The first expectation the car insurance company has is that you will responsibly secure your vehicle. This means different things to different companies. Typically, they won’t deny your claim simply because you did not lock your vehicle. However, if you leave the keys in your vehicle, or leave your vehicle running, the insurance company will most likely deny your claim because you did not responsibly secure your vehicle.
Another expectation that insurance companies have is that you will only loan your vehicle to responsible people. If you loan your vehicle to someone with a criminal record, a stranger, or someone known for irresponsible behavior, and that person does not return your vehicle, the insurance company could deny your claim. The burden of proof is on the insurance company, but all they have to do is provide a criminal record, bad driving record, or a few witnesses testifying to the typical behavior of the person you loaned your vehicle to in order to prove you were irresponsible in the loaning of your vehicle.
The last exception to having your stolen vehicle covered is the time frame in which you report your vehicle stolen. If you wait too long, the insurance company can deny your claim. It is expected that if a person’s vehicle is truly stolen, that person will contact the police right away. This applies to loaning your car to someone who does not return it as well. If the person you loaned your car to does not return it within 12 hours of the time you expect it back and they do not contact you, you should report it stolen.
Any of these circumstances can cause your insurance company to deny your claim. Be sure to look over your policy before signing it and take special note of any of these exceptions that will be outlined in the policy. Many people sign their policy without looking over the clauses and exceptions and are left holding the bill in the end.
When your vehicle is stolen, the insurance company will pay you actual cash value for your vehicle. This is determined by how much your vehicle would sell for on the day it is stolen. Actual cash value may be less than what you owe on your vehicle. If you owe more than your car is worth, you can purchase gap insurance which will pay you the difference between the actual cash value of your vehicle and what you owe.
What can you do to keep your vehicle safe?
The most basic step you can take to keep your vehicle safe is to lock the doors and take your keys with you. It is easy to get used to a routine or to feel safe in certain places, but locking your doors and taking your keys with you will prevent 80% of thefts. This goes hand in hand with where you decide to store an extra vehicle key. Never store an extra key in your vehicle or on your vehicle. There are magnetic boxes that some people attach to the underbelly of their vehicle with an extra key inside. This is not a way to keep your vehicle safe.
You can also make breaking into your car less appealing. Don’t leave valuable things like i-Pods, purses, or shopping bags in plain sight in your vehicle. This makes your vehicle more tempting to would-be thieves. Lastly, having a GPS system can help law enforcement track your vehicle, if it is stolen. Some insurance companies can also track a GPS and may give you a discount for having one in your vehicle.
Finding an insurance company that you can trust is the first step in getting a good policy with comprehensive coverage to protect you in the case of a stolen vehicle. Using our free online comparison tool can help you narrow down your car insurance company choices as well as get you rates and quotes from top companies all in one place. Enter your zip to start comparing free quotes now!
