The impact of a stolen car on your insurance
The impact of a stolen car on your insurance
The car thefts are unfortunately a scourge very present in our society. Although there are many ways to try to repel thieves, flights are sometimes unavoidable. Have you ever wondered what impact the theft of your car could have on your insurance policy? Here's what to do in case of theft, and ways in which your insurer will then compensate you.
If your vehicle is stolen, the first thing to do is contact the police to file a flight. You must give the police model, year and color of your vehicle and its registration number. You should also mention the place and time of flight, and the existence of potential witnesses of crime. Thus, the police can act quickly to try to find your car, and can greatly minimize the damage suffered by it.
Secondly, you must notify your insurer of the flight and provide the same information to the police, and the list of personal belongings found inside the vehicle during flight. In some cases, these objects could be covered by your auto insurance. From the moment your insurer is aware of the flight, what happens next will depend on the procedures of your insurance company and your type of coverage. If you do that a superficial coverage, no protection in case of theft, your insurer will probably do anything to help. Cons If you enjoy comprehensive coverage that protects you in case of theft, your insurer may reimburse you the value of your car at the time of flight. However, you should know that generally, your insurer will wait until your car is gone for a number of days prior to a refund.
Meanwhile, police will actively seek your vehicle. Your insurer could then you provide a rental vehicle for your daily commute, or offer to reimburse your transport costs if you need to call a taxi, for example. If your vehicle is not found during this waiting period, your insurer will declare it officially extinct and removed from circulation, and you will repay its value at the time of flight. If your vehicle is recovered, you must notify your insurer as soon as possible. If your car has been damaged, your insurer will pay the repair costs. If it was too damaged to be repaired, it will be withdrawn from circulation, and your insurer will pay the equivalent of its value at the time of flight as compensation.
Be aware that your vehicle is more likely to be stolen by its model or its rarity, the higher your insurance premiums will be. Similarly, if you live in an area where many car thefts are committed, your insurance will be more expensive. Car theft is costly to everyone: a good portion of insurance premiums you pay each year is used to compensate other insured victims of robbery.
The best way to be well protected and indemnified in case of theft is to invest in a comprehensive insurance policy. It cost a little more expensive than police do not protect against theft, but if unfortunately you become a victim, you do not regret this investment.
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