Will my stolen rims and tires be covered by insurance?

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Here's what you need to know...
  • The details of your policy will determine whether or not your insurance will cover stolen rims and tires
  • Custom parts sometimes cause issues for car insurance companies because they cause the cash value to vary
  • If you only purchase only minimum liability coverage, stolen rims and tires will not be covered under that policy

If you’ve put custom tires and rims on your car, and they end up being stolen, you may be wondering whether or not your car insurance will pay to replace them.

The truth is, it depends on several factors including the details of your policy, whether or not you can prove you paid for the tires and rims, and whether or not a police report detailing the theft was filed.

Know ahead of time exactly what your car insurance policy covers before you invest money in custom parts.

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What Auto Insurance Policies Cover

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Every state requires minimum liability insurance coverage or proof of ability to pay for damages. Insurance coverage protects against bodily injury and property damage.

State minimum auto insurance coverage options will never cover the cost of stolen rims or tires.

Comprehensive or full coverage, which usually includes collision, fire, and theft, may or may not pay for stolen rims and tires depending on the specific policy.

If your comprehensive coverage does not, you may be able to find coverage through a homeowners or renters insurance policy.

Why do car insurance companies balk over custom parts?

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Car insurance companies tend to be reluctant about covering many custom and high-performance parts because it’s difficult to determine the cash value of a car when taking these things into consideration.

If your car is totaled or stolen, it’s nearly impossible for your insurance provider to determine cash value simply by looking at the Kelly Blue Book.

The process of determining the car’s value, along with your custom parts, tends to be a no-win situation for your insurance company.

Many comprehensive policies will cover custom parts up to a certain point. But that point is different among insurance providers.

If your car already has custom or performance parts installed, inform your insurance company when purchasing a new policy.

Take photographs and videos as proof that the parts do exist, and if you have receipts, they are helpful documentation as well.

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Can I purchase extra insurance to cover my tires and rims?

If your current comprehensive policy does not cover the cost of your custom tires and rims, you may be able to purchase a rider that will provide such coverage.

As stated earlier, the more documentation that can prove you paid for and installed such parts, the more likely it is to be able to procure a rider to cover them.

If your current insurance company will not provide you the proper coverage, you’re always free to shop around for one that will.

Keep in mind. However, that insurance coverage for custom and high-performance parts is going to cost you some money.

For every dollar the insurance company will potentially have to pay in the event of a claim, you will be charged a certain amount on your insurance policy.

The more expensive and valuable your custom parts, the higher the risk to the insurance company, and the more they’re going to charge you.

What if the whole car is stolen, not just the rims and tires?

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In the event the entire car was stolen, your only hope of financial recourse is through a comprehensive policy which includes theft coverage.

If all you have is minimum liability, you might as well write the car off as a loss because your insurance company will not pay you a dime.

If you do have a comprehensive policy that will cover the theft, and the car is recovered some time after your insurance company has paid your claim, you may have to surrender the car to them as it will become their legal property.

Unfortunately, at the end of the day, some of your custom parts may not be covered regardless of what you do. You may just have to take the risk on your own and hope they are never stolen.

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