Car insurance covers theft if you have comprehensive coverage. You're not protected if you only have the state's minimum required insurance. Add comprehensive coverage or upgrade to full coverage to make a claim for a stolen car.
Comprehensive coverage includes any event not caused by another vehicle, including:
Comprehensive insurance rates take into account your:
The average cost for comprehensive coverage is $121 a month. Purchase full coverage (comprehensive, collision, and liability insurance) if you want more protection. On average, you pay $2,390 per year ($200 per month) for this policy.
Progressive provides full insurance at a competitive average rate of $2,393 per year. Contact Progressive to get an easy quote, today!
Your deductible is pre-determined when you buy your auto insurance policy. To get this policy with zero deductibles, you're charged an additional cost. Ask your insurance provider about this to remove deductibles from your comprehensive policy.
Insurance companies don't immediately file claims for stolen cars. Your car might get recovered by the police investigating your theft. Wait at least 30 days before you start the process of receiving your insurance payout.
Your insurance company files a total loss claim if 30 days pass with no trace of your car. You're required to speak with your insurance adjuster about the current value of your car.
Once the amount gets agreed upon, you receive that amount, minus your deductible. Unfortunately, it isn't a penny over what your car is worth, so don't expect an upgrade.
If you have a lienholder, get them to sign the title over to your insurance provider. When your insurance claim gets settled, you no longer have ownership over your stolen car. If your vehicle gets recovered, it belongs to your insurance company.