In the realm of filing car insurance claims theft events can present some of the more complicated circumstances
Every car owner fears vehicle theft. If you have experienced this unfortunate event, you'll know that you need to quickly file any car insurance claims for theft in order to recoup your losses after the event. If you have never had to deal with a car theft before, you may be a little bit intimidated by the process, but there is no reason to be nervous. This step-by-step summary should help and if you can acquaint yourself with these steps before anything unfortunate happens, you'll be better prepared for the unexpected.
Report thefts as soon as possible
Once you have discovered that your car has been stolen, call the police on a non-emergency number. Make sure 
that you have all of the pertinent vehicle information at hand, including the vehicle identification number (VIN), license plate number, color, and the vehicle make and model. Time is of the essence when you discover that your car has been stolen since your chance of recovering the vehicle lessens rapidly over time. You will also need a police reference and eventually a police report in order to file a claim with your insurance company.
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After filing a report with the police, contact your car insurance company. Brace yourself, as your insurance representative is likely to ask you a lot of questions about the stolen vehicle and the circumstances of the theft. You are likely to need to provide the following information for any car insurance claims for theft:
- List of personal property located within the vehicle at the time of the theft
- Car title information (if not the actual title)
- Name and contact information for anyone who had access to the vehicle
- Location of the keys before and after the theft
- Mileage and service records
- The contact information for your financing company (if applicable)
Do you have the right coverage?
In order to get a check for the replacement value of your stolen car, you generally must have comprehensive car insurance. Your insurance representative will research your policy and coverage options in order to determine which benefits you are eligible for. In addition, you may be able to file for rental reimbursement if you need to rent a car to get around while you are waiting for the claim to be settled. Your insurance company is likely to take anywhere from 20 to 30 days to issue a settlement check, which allows for time to look for your stolen vehicle.
Do you have the right amount?
You will want to be aware of the limits and coverage allowances of your comprehensive policy so that there are no 
surprises when your theft claim is finally resolved. In the event of a lost car due to theft (or a car deemed a total loss due to damage that occurred as a result of a theft) your comprehensive insurance will issue to a check for the current cash, market or Blue Book value of your insured car (minus any deductible you have and in some cases, up to a maximum amount ascribed to your policy). Unless you have an upgrade to your comprehensive coverage such as a vehice replacement feature, that's all you'll get.
Whether that will be enough to buy a proper replacement car could be tricky. If you took out a loan for the car that was stolen, that could prove even trickier. Unless you've added a feature like loan/lease payoff or GAP coverage to your comprehensive coverage or as a part of your overall car insurance package, you may find yourelf still owing money on the loan (interest, fees, etc.) for a car that was stolen. The settlement on your theft claim is unlikely to be enough to cover any loan balance and give you enough to buy or start a new loan on a replacement car.
Other options for coverage
Unless you have comprehensive car insurance, there are few options for you should your car be stolen. There are some homeowner policies that include umbrella liability coverage for loss of personal property. Most of those limit reimbursement to any property taken from your home so unless your car is stolen out of the garage or from your driveway, it may not help you in replacing a stolen car. Some renter's insurance policies also have riders for personal property (including cars) but again, any covered car theft would have to be limited to your rental property space.
There are also a very small number of car insurance companies that allow theft specific riders to be added without having to purchase a full-bliown comprehensive coverage rider.
Experiencing the theft of a vehicle can be a distressing experience but if you have the right auto insurance, you are likely to get a settlement check quite promptly after filing any car insurance claims for theft. Relying on the assistance of your car insurance agent to help you through the process should be an easy given. If you don't have one or if you would like to explore new possibilities for affordability and customer service, let us help you. Reply! put you in touch with local experts with plenty of experience on a wide variety of car insurance issues.