car-insurance

Your Car Was Stolen, Now What?

Your Car Was Stolen, Now What?

Imagine waking up one morning and getting ready for work only to step outside and discover that your car is gone.  Stolen cars happen far more often than you think. Almost a million cars get stolen across the country every year.  Car theft is all too common all over the country, but you have insurance so everything should be okay…right?  Actually the claims process can be pretty long and involved but here are some of the steps that you should take when your car has been stolen.

Was the Car Actually Stolen?

The first thing you have to ask yourself is was your car actually stolen?  Is there any possibility that someone else could have taken your car?  Check with family or roommates to see if there is any possibility that someone may have borrowed your car without asking you.  Is there any chance your car was towed, was it parked in the wrong spot.  Lastly you also have to ask if for any reason the car has been repossessed.  If none of these are true or possible then it is time to call the police.

Insurance Coverage

Don’t assume that you automatically have coverage in the event of theft.  In order to be covered in the event of theft you need to have a comprehensive policy in place.  It doesn’t matter what state you live in that holds true across the country.  Even if your car has been stolen from your driveway in the home you own it will not be covered under a homeowner’s policy.  You will have to have comprehensive coverage to recoup your loss.

Putting in a Claim

The first call that you need to make is to the police, you will need a copy of the police report for your insurance company.  You will also have to report the theft to your insurance company to get the claims process started.  Most insurance companies will make you wait 30 days to see if the police can recover the car first.  That 30 days will start from the moment you report it so don’t delay in reporting.

Insurance companies take theft claims very seriously and the adjustor will want to speak to you to make sure there is no chance of fraud.  The adjustor will also investigate on behalf of the insurance company to verify that your claim has legitimacy before they will pay one cent of your claim.  Don’t take all of their questions personally it is their job.