If you're paying for comprehensive car insurance, then you're paying for financial protection from a number of serious things that could damage or destroy your car, including car theft. Comprehensive car insurance coverage can cover all of the costs of a stolen vehicle, less a deductible, so it's one of the most important types of car insurance coverage to have. However, it's also important to realize that if your vehicle is stolen, you need to report the theft right away. Doing so will improve the chances of a successful car insurance claim and reduce your liability from a car insurance perspective.
When your vehicle is stolen, your first call should be to the police to report the theft. They'll fill out a report that reports the vehicle as "stolen" and take some details from you that might be able to help them locate the stolen vehicle, such as the license plate number, the car's make, model, and color, and details about when and how the car was stolen. Making a report with the police as soon as possible increases the chances of finding a stolen vehicle, and as your insurance company will know, it will decrease the chances that they'll have to pay for the total cost of your vehicle in the process. After contacting the police, you should contact your insurer and explain that the car is stolen, including any relevant details. Reporting the theft right away lowers your liability in the situation, as you'll have done all that you possibly can to help police find your vehicle. Your car insurance company will be much more likely to pay out on a theft claim if everything was handled as quickly as possible.
Unfortunately, car theft is one of the most expensive types of car insurance claim imaginable, and you may see your car insurance rates rise after you make the claim. There's no way to avoid this after the fact, although you can take a few steps to reduce the increase in your rates. Ask your insurance agent about discount programs, and when you buy another vehicle, be sure to look online for car insurance quotes in order to find the lowest priced policy that provides the coverage that you need. When you look for quotes, be sure to tell insurance companies about your previous vehicle's theft, as this will be an important factor in figuring accurate auto insurance quotes. Making a claim on a stolen vehicle can be a long process, but with the right techniques you can avoid overpaying for your future car insurance policies while ensuring adequate coverage.