Having something stolen from their vehicle is not something that any driver wants to have happen; but unfortunately, it is an all too common occurrence. At movie theaters, shopping malls and even in front of homes, thieves are becoming more brazen, breaking windows and stealing items in broad daylight. Most car insurance leads and quotes will include some measure of theft loss protection, which can help to ease the burden if something substantial is taken from a car. While this type of coverage is standard with most auto insurance policies, having it in place and actually using it are two very different things. Here are a few tips on claiming a theft loss under your car insurance policy.
First, it is important to understand a claim for a theft is the same as a claim for an accident-it requires you first pay your deductible. In most cases, this is $500, but some car insurance leads and policies will have a theft plan that requires no deductible at all. Speak to a provider to see if that is an option. Most plans will require the deductible be paid, however, which means that if the value of the item stolen is less than the cost of the deductible, it is probably not worth the cost, and will result in a net loss to have the item replaced through insurance. It is worth noting that new items purchased with a credit card are often covered by the card companies if they are in a car, negating the need to go through car insurance.
It is also important to understand insurance companies will not simply pay for items that consumers claim were in a car-proof will be required. If a client cannot produce a receipt, it is unlikely a claim will be paid out, especially if it is an expensive electronic device that has been stolen. While it is impossible to predict what will be in a car and declare that on a policy application, an insurance company will always require proof that an item was actually in the owner's possession before they will pay out. Typically, unless the item was of high value and proper documentation can be divided, it may not be worth utilizing theft coverage.
However, it is also important to understand that not all insurance companies operate under the same policies. Some will have less stringent theft loss requirements for claims, and some may not increase rates or require deductibles to be paid. As with any insurance service, it is worth speaking with a provider before making a decision and before choosing to use this kind of coverage.