Your vehicle isn’t where you parked it. It could be outside of your home or in a shopping center. It is not uncommon for vehicles to be stolen today. And, contrary to what many believe, the vehicles most often stolen are everyday vehicles owned by many families rather than high-end sports cars. If your vehicle is stolen, or you believe it to be, your first step should always be to call the police. The police will take every step possible to help you locate the vehicle. But, how can your auto insurance help you, too?
Ensure Your Vehicle Really Is Stolen
Before reporting your vehicle as such, ensure it is truly stolen. Could your vehicle have been towed? Perhaps it was simply misplaced. In some cases, it may be repossessed or a family member could have used it. It’s estimated by the National Highway and Transportation Safety Administration that as much as half of those vehicles reported stolen are actually the result of an owner’s mistake. Once you are confident it was in fact stolen and you’ve filed a police report verifying this, the next step is to file a claim with your auto insurance company.
What Happens When You File a Claim
Your car insurance company will go to work to help with your stolen vehicle. You’ll need to provide as much information as possible about the incident and your insurance agent will need to see the police report you’ve filed. You may be given a rental vehicle for some time before the vehicle is deemed lost to you. Then, what happens next depends on the type of auto insurance policy you have. If you have a policy that pays the actual value of your vehicle, it will cut you a check for the value of your vehicle at the time it was lost. If on the other hand, you have replacement value insurance, this means the company will pay you the amount it would take to replace the vehicle with something considered very similar.
You may also be able to file a claim for any belongings you had within your vehicle at the time it was stolen.
Auto insurance companies will help you if you have comprehensive car insurance in place. If you only have liability insurance, you may not be covered.
We’ve got you covered. Call Carolina Capital Insurance Group for more information on auto insurance.