Car Collision and Comprehensive Protection
These two kinds of auto insurance both offer protection when your car gets damaged. However, the types of damage they cover differ from each other. Let's describe each one of them:
In the event of an insured accident concerning collision with another vehicle, the damages your vehicle sustained will be covered by collision insurance. It may include repairs and some replacement of your covered vehicle.
Comprehensive car insurance
Comprehensive car insurance will be responsible for paying for damages done to your vehicle caused by insured events such as vandalism, theft, storm or any other situations that are not related to a collision. You may choose to have a stolen car insurance claim investigation to start with if you've become a victim of vehicle theft. Comprehensive insurance could cover situations in which collision insurance does not. That's why combining the two insurance can benefit you in a lot of things. You may check the table below to get more insight into insured situations:
Your vehicle crashes an object, such as a tree.
Your vehicle clashes with another vehicle.
Your vehicle rolls over.
Your vehicle is seriously damaged due to hitting a pothole.
An object falls on your vehicle, such as a tree.
An animal collides with your vehicle.
Your vehicle got damaged due to fire or natural disasters.
Your vehicle is vandalized or stolen. In this case, you may ask the insurance company to conduct a stolen car insurance claim investigation.
You may wonder if acquiring both kinds of insurance coverage would be a good idea. To help you conclude, consider the following ideas:
The value of your vehicle
It is always essential to know how much your vehicle is worth. If your vehicle is new and you purchased it at a higher value, these types of coverage can help you avoid paying out-of-pocket when your vehicle needs a repair or replacement.
Risk of an accident
How often do you usually drive your vehicle, and how far? Do you have long commutes and drive frequently? If that is the case, you pose a higher than average risk.
Your current savings
Taking consideration of your current savings is important. Would it afford you the costs of out-of-pocket for an accident? If your vehicle is stolen, do you still have enough money to replace it and buy another? It might be best to acquire both kinds of insurance to avail of the stolen car insurance claim investigation after your car has been truly lost and stolen.
Where do you live? Where do you drive most frequently? Taking consideration of the area you live in can help you.
Does your location have higher reports of damaged vehicles because of fallen tree branches or some collisions with animals?
Considering the above factors, you may now determine if having both collision and comprehensive insurance coverage may be the best decision for you.
How about when you already had both insurance coverage and you were victimized by theft? How is the claim processed?
Does Car Insurance Cover Theft?
The Stolen Car Insurance Claim Investigation and Process
Picture this scenario: You are going out of the office one late night after a long tiring day at work. As you're heading out to your usual parking spot on the street, you get this feeling that something may not be right. As you get a little closer to where your car should be, your heart starts to skip a beat. Your car is not there anymore! Already frantic, you try to remember every single detail about your car that day just before leaving it earlier. You called 911, and by the time the police arrived, you still could not recall how your car lost its way. Still, you are hoping for its safe return.
What would you do if you're confronted with a similar situation? How would you handle it when your car got stolen? Do you already know how the stolen car insurance claim process works? And how to start with the process of stolen car insurance claim investigation?
But wait, you try to recall, did you park illegally? Making it possible for your car to be towed? Will you be in a tough situation of having your car repossessed? Of course, it can be quite an embarrassment if you filed a stolen car insurance claim and police report only to realize that your car wasn't stolen in the first place.
Once you have already determined that your vehicle was stolen, it is high time to start with the car insurance claim process.
Will Your Car Insurance Policy Cover Theft?
Normally, you must have purchased comprehensive insurance coverage on your insurance policy to acquire the stolen vehicle coverage. So even if your vehicle were stolen from your home, only your auto policy with comprehensive insurance would be able to cover your loss, and not your home insurance policy. It has been a common misunderstanding that your home policy will be able to cover your vehicle, and it's not true at all.
When your car got stolen, you need to report it immediately to the police. You can take action for stolen car insurance claim investigation to commence. You should also inform your insurance company right away by reaching out to your insurance agent. He can help you verify whether you got a comprehensive coverage in your insurance policy and help you file a claim.
Most of the insurance companies have a minimum waiting time for a stolen car claim to be concluded because they would like to see if the car can still be recovered. The time frame usually starts when the car was stolen and not by the time you filed the claim.
Stolen Car Insurance Claim Investigation
Whether it's about your vehicle or belongings, theft claims are typically investigated thoroughly by insurance adjusters. They often ask you for recorded conversations as part of their company's standard operating procedure when handling stolen car insurance claim investigation. If the questions seem to sound suspicious or investigative, do not take them personally. It's the job of the adjuster to always be on the lookout for some other fraudulent claims. Information collected during the claims process are the following:
- Time and date of the theft
- Location of the car
- Year, make, model, and mileage of the stolen car
- Police report
Dealing With a Total Loss Claim
If your car got stolen, you have a total loss claim at your disposal. Now, you will discuss with the adjuster the current worth of your car less your deductible. When the agreement has been made, you will need your financer (or lender) sign on the title. After that, you also would need to sign the title over to the insurance company. Now, you will no longer have possession or ownership of that vehicle. It is possible to discuss with the insurance company after the vehicle is found and repurchase it.
What About Damages Done to the Vehicle if It Is Recovered?
So the insurance company conducted a stolen car insurance claim investigation. The result was overwhelming because your car was recovered! But when your vehicle is recovered and has signs of damages, your comprehensive insurance can also cover the expenses of repairing it. Obviously, the thief may have destroyed the interiors or even wrecked the car. The repairs will be covered with comprehensive insurance, less your deductible.
Is There Coverage for Your Belongings in the Stolen Car?
Some of your belongings were in your car when it was stolen. Car seat, GPS, flash drives, the list goes endless of what might have been lost together with your car. Sadly, personal belongings inside the car are not part of the inclusions covered under your auto policy. Yes, they have conducted a stolen car insurance claim investigation. Still, if the car was recovered without your personal belongings hanging in there, you could not hold your auto policy accountable for that.