Information provided by AAA’s preferred Insurance Carrier: MAPFRE Insurance

Having a car stolen is a nightmare that every driver wants to avoid. Unfortunately, these things sometimes happen. In such circumstances, it’s only natural to wonder what your insurance would cover in this type of scenario.

What to Do If Your Car Gets Stolen

Finding that your vehicle has been stolen is always an incredibly stressful experience, however, it’s important to take action quickly.

First, it’s important to make certain that the vehicle really has been stolen. It’s surprising how many people simply forget where they left their car or forgot they let someone else in their home borrow their car; therefore, it’s vital to take the time to check all the possibilities before making a report to the police. Once it’s clear that the car really has been stolen, the owner must call the police to file a report. The sooner this is done, the higher the likelihood of recovering the car. The police need to know a range of information about the vehicle in question, including its make and model, the last known location of the vehicle, and whether it has a fitted tracking device. This report will be needed by the insurer.

The next step is to call the insurer to report the vehicle as having been stolen, don’t stress, check out our tips for a stress free claim. This is important, regardless of the type of car insurance policy held by the owner. The state’s motor vehicle department should also be told about the theft.

Car Insurance Theft Coverage

Not all car insurance policies cover theft of a vehicle as part of the coverage. There are several levels of car insurance coverage available from car insurance companies. Basic liability insurance is the minimum level required by law, but this level of coverage doesn’t cover the theft of a vehicle.

Also, simply having a fully comprehensive insurance policy doesn’t mean that the payout in the event of theft will be immediate. First, the insurer will need to investigate once the theft has been reported to them. Fraud must be ruled out before any claim is paid out.

Once everything has been finalized, the insurer will reimburse the policyholder the actual cash value (ACV) of their vehicle. This is the total amount paid for the vehicle less depreciation. The final payment will reflect the ACV with the deductible subtracted.

While full comprehensive coverage covers any damage incurred by the vehicle during a break-in, it won’t reimburse the cost of any personal items which were stolen from the car – such as a smartphone, laptop or other valuables in the car. Those items may be covered under a homeowners’ or renters’ insurance policy. Again, there will be a deductible to meet, and there may be coverage limits depending on the policy provider on certain types of items such as electronics or jewelry. One thing that can happen after making a claim, is your policy cost can go up based on a number of factors. 

Personal items may be covered if you purchase certain endorsements like that AAA Package. Without any endorsement, contents of the vehicle would not be covered under comprehensive coverage.