Having the car stolen is a traumatic experience. You walk out the door, and your car is simply gone – not where you left it. Unfortunately, it happens every day to vehicle owners across the United States. The following is a checklist to prepare for the unfortunate event ever happening to you.
Make sure your car has actually been stolen
Call the police to report the theft
If your car was not misplaced or dragged, it was probably actually stolen. Call the police as soon as you can. You must provide a police report containing all available information about your car, including the make, model, year, vehicle identification number (VIN), and where the car was last placed. If you have a tracking device, give that information to the police. Keep a copy of the police report for your file and your insurance claim.
Call your insurance company and report the car stolen
No matter what type of insurance policy you have, your insurance company must know that the car has been stolen and you are no longer in possession. If your car insurance only covers government minimum requirements, you cannot be covered if your car is stolen. If you are underinsured, our experienced Corbett Insurance agents in Shavertown, Pennsylvania can help you find cheap car insurance that includes coverage to protect you from the theft of your vehicle.
If you have a comprehensive car insurance, it will provide protection against theft. However, payment on your claim will not be immediate. Your insurance company will investigate to exclude fraud and may introduce a waiting period of several weeks before paying your claim if the vehicle is recycled. Once your claim is paid, you will be reimbursed for your car's actual cash value (ACV) – what you paid for the vehicle minus depreciation. Be aware that ACV is negotiable and insurance adjustments normally start low. Do your homework, use an ACV calculator to determine the cash value of your stolen vehicle, and do not hesitate to negotiate with the adjuster.
Report your stolen car to DMV
The motor vehicle department holds stolen car databases, and they will work with the police to have your stolen car returned to you if it is recycled. Keep in mind that a large proportion of stolen cars are finally recovered.
Search for your stolen car online
Watch Craigslist and other car sales forums on the chance that your stolen car is advertised for sale. It can be a long shot, but stranger things have happened.
March 15, 2019 by