Car Insurance Tips for Stolen Cars

What do you do if you come out of the shopping mall, go to where you know you parked your car, only to find it's not there?  First, you'd probably walk around the parking lot wondering if you forgot where you parked it- but after you realize the car is really missing- what do you do?   You can probably assume your car has become a victim of car theft!

The nonprofit insurance information organization in New York, the Insurance Information Institute (III), as well as the Association of California Insurance Companies, offers car insurance advice to people who've had the unfortunate experience of car theft.

Car Theft Preparation

As with any major life event, it is far better to be prepared than to be taken by surprise.  Stolen cars are no different!  If you have suitable car insurance for handling car theft, and if you have the information about your car handy (like in your purse or wallet), you can call the police department and have reports filed immediately.  You can also contact your car insurance company to begin processing a stolen car claim.

When you are deciding what type of coverage you need for your car insurance, it's not always in your best interest to take the lowest possible auto insurance policy by avoiding some inexpensive options that would save you considerable amounts of money in events like car theft!  Considering that it can cost as much as a full year of rental coverage to rent a car for one day- you might want to pay the few dollars extra on your car insurance policy year round for rental car insurance than have to come up with the cash to rent a car if your own should get stolen.

Stolen Cars: Car Insurance Basics

Most automobile insurance companies have been known to wait anywhere between two and four weeks if a car is reported stolen, before authorizing the purchase of a new vehicle.  If you have to rent a car during this time for transportation, you could pay $1,000 or more if you don't have rental car replacement coverage on your car insurance policy.  (And no, they aren't going to let you ADD it after you report your car stolen!)

Once again- it's better to be prepared for the unthinkable than to deal with it head-on without proper automobile insurance coverage.  Check your policy annually and see if you can make any improvements to the level of coverage you have- it can really pay off in the event of the unfortunate event of a stolen car.

Prevent Car Theft

Don't take the attitude that "it won't happen to me", because anyone can fall victim to car theft.  There are a few things you can do to help avoid getting your car stolen.  The National Insurance Crime Bureau provides the following information for preventing car theft:

• Lock your doors, take your keys with you
• Use immobilizing device (kill switches, fuel cut-offs, smart keys)
• Use tracking devices that alert you and the police if your car is moved unauthorized.