What to do if Your Car is stolen: Complete Guide!
What to do when your car is stolen? Find out here! Owning a car bought with hard-earned money is a big milestone for people who wished for it. Moreover, things can go worse when you come to know that your car is stolen, there is nothing to stress over, we got you covered!
The aim is to educate people what to do when car is stolen. Firstly, you must be aware of the situation and try not to panic. If you are not able to find the car where you last parked it, chances are higher that it may be towed. Moreover, the recommendation is to call tow companies in order to clear the matter.
There are a few things you can follow to recover the lost car at the earliest. Besides, keep reading this exceptional blog guide and learn professional tips.
Make sure you report the theft as soon as possible. Insurance claims aren’t always the easiest and the claim payout might take a while to get. The waiting period is usually the hardest to go through but it’ll be ok.
Call the police, your local law enforcement to report the stolen vehicle since you’ll need this report when filing your claim. Now car theft might affect the insurance rates depending the area you live at.
What to do when your Car is stolen?
- Taking a Tour to a Police Station: The time you find that your car is stolen, do not waste a single minute and visit the local police station. According to the survey, around 30% of cars were recovered within the same day of the robbery. You may need to provide the following essential details:
- Make, model, and type of your car
- VIN details
- License Plate Number Details
- Any cosmetic changes making your vehicle stand apart
- Details about GPS if the car has one
- The exact time the car stolen
- Getting in touch with Insurance Firm: Once complete the process at the police station, now you have to reach the insurance corporation. You must carry the original stolen report as a few firms want to see the proof to begin their work. In addition, you can file for the benefit if you have comprehensive insurance covering the loss by theft condition. If you do not have such insurance then getting such benefits is not possible.
- Contact Home Insurance Providers: Things do not remain the same for a longer duration. Moreover, if your precious assets like laptops, mobile, cameras, or any other were left in the car then contact your home insurance provider for the losses suffered. Auto insurance companies do not cover these losses. Therefore, getting home insurance is a great way to counter such situations.
- Visiting the lenders: If your car was on a loan taken from lenders or financial institutions. Moreover, the first thing is to get in touch with lenders and update them about the situation. They will set a fraud alert so that if something wrong happens it can be reported at the earliest. Besides, they are the owner of the car and should know everything.
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What happens if your car gets stolen and I owe a title loan?
If you owe a title loan on your stolen car then things do not change at all. Moreover, you need to make regular payments according to the payment plans. Lenders won’t be held responsible for the losses suffered. In addition, if you tried everything but were not able to locate your stolen car then you need to file for claim benefit.
The claim benefit is only applicable if you have comprehensive insurance covering the loss by theft benefit. In such a situation, the insurance company will pay the amount based on the vehicle’s current value and deduct the fees charged for the process.
To get the best amount you need to share all the evidence. Moreover, if you fail to clear the title loan then your credit ratings will get affected if lenders report to the credit bureau. In short, you will consider a client who defaulted on the title loan.
What if I found my car?
The greatest moment is when doing hard work and putting effort to find your car. Moreover, it does not matter who finds the car whether the police or you found it on your own. The initial step to do after finding the car is to update the insurance firm.
Besides, if you find the car after the claim settlement then this determines that the insurer owns the car. If you want your car back then you can buy the car if the replacement is not done yet.
If the police find your car then they will impound it and update you to pick up the car from their lot. Moreover, if you got the claim for your stolen personal items then the need is to talk with the home insurer and let them know about the situation.
If the stolen car has paint scratches, dents, broken windshield, or interior damage then you need to let the insurance firm know about it. They will pay for the repair expenses and deduct the fees associated with it.
You need to pay the fees for perfectly completing the process. Moreover, if you discover any illegal substance inside the car then allow police to inspect it. You must let them know to avoid any association with the crime.
If you are renting a car, make sure to get renters insurance to make sure the car is truly covered from theft.
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