Your car stolen? This is what you do and this is what your insurance company does

What to Do Immediately After Your Car is Stolen

1. Stay calm and assess the situation: Make sure your car is actually stolen and not towed or borrowed. Check with family members or friends who might have access to your vehicle.
2. Contact the police: Report the theft to the local police immediately. Provide them with all necessary details, including the make, model, color, and license plate number of your car. You'll need the police report for your Insurance claim.
3. Inform your insurance company: Notify your insurance company as soon as possible. They will guide you through the claims process and inform you of any additional steps required.
4. Gather important documents: Have your car’s registration, title, and insurance policy number ready. These documents will be needed for the police report and the insurance claim.
5. Track your vehicle: If your car has a GPS tracking system, activate it to help the authorities locate your vehicle more quickly.
6. Notify your lender: If you have a loan or lease on your car, inform the lender about the theft. They may require additional documentation or have specific procedures you need to follow.

What your insurance company will do

1. Open a claim: Once notified, your insurance  company will open a claim and assign a claims adjuster to your case. The adjuster will contact you to discuss the details of the theft.
2. Investigate the claim: The insurance company may conduct an investigation to verify the theft and assess the circumstances surrounding it. This can include reviewing the police report and contacting witnesses.
3. Determine coverage: Depending on your policy, your insurance company will determine what coverage applies. Comprehensive coverage typically protects against theft, while liability coverage does not.
4. Compensate you: If your claim is approved, the insurance company will compensate you based on the actual cash value (ACV) of your vehicle, minus any deductible. The ACV is the market value of your car at the time of the theft, considering depreciation.
5. Recover your vehicle: If your car is recovered, the insurance company will assess any damages and cover the repair costs if applicable. If the car is a total loss, they will proceed with the payout  process.
6. Assist with a replacement: Some insurance policies may offer assistance with renting a car or purchasing a new one while your claim is being processed.

Final thoughts

Having your car stolen is never a pleasant experience, but knowing the steps to take and understanding how your insurance company will respond can make the process smoother. Always ensure your insurance policy is up-to-date and covers theft to avoid unexpected financial burdens.

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