DOES CAR INSURANCE COVER THEFT?
The United States is home to the absolute most amount of automobiles in the world. There 240 million cars in this country, which also means there are 240 million cars to steal in this country.
Car theft is huge in America. An estimated $8 billion business, automobile theft shows no signs of slowing down. In reality, in line with the FBI, in the United States a vehicle is stolen very 26.4 seconds. The odds that a car will be stolen are about 1 in 200 (with the odds being higher in urban areas).
Does Your Car Insurance Policy Cover Theft?
So with all these cars being stolen, how can you protect yourself? You might be asking yourself – does my car insurance coverage even cover theft?
Car insurance policy holders aren't typically covered for theft unless they've purchased comprehensive auto insurance. This insurance covers any damage to the automobile including theft, vandalism, natural disasters, fire, etc. Comprehensive insurance is not required by law (like collision insurance is), but because of the additional coverage, lots of people choose to incorporate this type of insurance on the car insurance policies. Comprehensive insurance is advised for those who have newer and higher priced vehicles.
Another type of insurance coverage, liability insurance, will not cover theft of one's vehicle. Liability insurance protects against claims your actions caused bodily harm or property damage. Although liability insurance is essential to have, and is required by law generally in most states, it will not cover your vehicle in case there is theft.
Tips To Prevent Your Car From Being Stolen
If vehicle theft isn't properly covered by your auto insurance policy, then you must be extra careful to ensure that your vehicle isn't stolen. Here are a few safety measures you are able to decide to try prevent your car or truck from being stolen:
Lock your car or truck doors: This could be obvious to some people, but lots of times people forget.
Do not leave your keys in your car: Also do not have a supplementary spare key hidden anywhere in or outside your car. You make think you are clever hiding a key behind your license plate or under your car or truck, but these are often the first locations that thieves will look.
Park in well-lit and safe areas: Do never park your Lamborghini in a seedy element of town and expect it to be safe.
Install security systems in your car: Car alarms and lojacks are all good ways to avoid your car or truck from being stolen.
If, in the unfortunate event that your car is stolen, you need to get hold of the local police department and your insurance company right away. They will investigate the theft of one's vehicle. If your automobile isn't located after a specific amount of time, your theft claim will soon be paid to you (less the amount of your deductible). The insurance company can pay you the market value for your automobile (Kelly Blue Book, or other). When you yourself have any additional customizations made to your automobile (such as stereo, wheels, DVD, etc), ensure you get them insured as well. Your insurance company won't purchase them until you obtained specific coverage for anyone items.
So, does your car or truck insurance cover theft? Whether you drive among the most popular cars to steal or not, you are still at an increased risk for theft. Ask yourself – can you probably afford to get a brand new vehicle if it is stolen without theft coverage? Start looking around for comprehensive insurance coverage today. Utilize the internet to compare prices and obtain a quote specifically tailored to your vehicle. It may not be as expensive as you think.
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