Does Car Insurance Cover Theft?

Car theft is a nerve-wracking experience.  However, having good car insurance from a dependable company can help cushion the blow.  Car insurance is a contract between you and your El Paso insurance firm.  It protects you against financial loss if your car is stolen or you’re involved in an accident. 

Insurance usually involves paying premiums to your El Paso insurance company.  In turn, the company provides coverage for medical, liability, and property, including the theft or damage of your car. 

Various types of car insurance cover theft of vehicles; whether yours will cover it depends on the exact conditions and terms of your policy. 

Which Type of Insurance Policy Should You Go For?

There are different car/auto insurance types offered by Bundle Bee Insurance, the main one being liability.  This form is mandatory in almost every state and is considered the most basic. 

Collision Insurance, another type of car insurance, primarily covers additional damages in the event of an accident.  However, neither collision nor liability coverage protects against car theft.

This is why it is vital to have Comprehensive coverage on your policy.  Comprehensive car insurance from an El Paso insurance company will cover the theft of a vehicle.  Depending on a person’s policy, a comprehensive policy may also provide coverage for rims, paint, custom parts, and other aftermarket additions. 

However, comprehensive car insurance policies don’t typically cover personal property like electronics stolen from your car.  You will need to file a claim with your renter’s or homeowner’s insurance provider to cover personal property.

Most importantly, you should check the terms and conditions of your policy so that you’re informed on what is and isn’t covered by said policy. 

What Should You Do If Your Car Is Stolen?

If your vehicle is stolen, start by filing a report with the police as soon as possible.  The police will need information like your car’s plate number, the model and make, and in some cases, its identification number. 

Next, if you are a Bundle Bee Insurance, give us a call.  We’ll check your coverage.  Note: this process is the same with any insurance carrier.  If any personal items were inside the car when it was stolen, you would also need to contact your renter’s or homeowner’s insurance carrier. 

Time is of the essence in cases like this; you must take action immediately.  This will allow your claim to be processed faster and increase the odds of finding your vehicle. 

Most insurance carriers usually use the actual cash value of a car to determine the payout.  Adjusters from your El Paso insurance company will therefore determine the value of your vehicle based on its model, make and age.  They will also factor in wear and tear.

If your claim is successful, then your insurance provider will offer coverage for the theft.  However, it is important to note that the total payout also depends on the terms of your policy.

Still have questions?  Contact Bundle Bee Insurance.  Our experienced team will help you determine the best coverage against the theft of your vehicle.

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