Sunday, October 2, 2022

What To Do If Your Car Is Stolen

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They Can Use Your Vehicle Identification Number

What To Do If Your Car Is Stolen

Vehicle Identification Number, together with some other details of your car registration card, can be used to determine the ownership of your vehicle.

The thief can simply sell your car with the vehicle title since they can pass themselves off as the owner. When the time arrives, they might attempt to take it and lawfully sell it without leaving any indications of crime.

Contact Your Financing Or Leasing Company

If you lease or finance your vehicle, keep the lender in the loop throughout the reporting process. They hold the title on the car, which means any insurance settlement will go to them first, Walker says. Once the insurance company processes your claim and disburses payment to the lender, any remaining funds go to you.

Way 3 Inform Your Leasing Company If Your Rented Car Is Stolen

If your stolen car is rented, contact the leasing company after you find the vehicle is missing. Inform them that you’ve already reported the stolen car to the police and ask for the car’s identification numbers and tag.

Also, remember to request an incident form from the rental company and review the contract terms about the liability insurance you have chosen. If you have bought full coverage from the car leasing company, you will be covered if the car is stolen, supposing that you were complying with the contract at the time of the theft.

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What About The Stuff That Was In My Car Is It Covered

Generally speaking, your car insurance covers the vehicle itself and any attached equipment or items used to operate the vehicle, like the rims or the stereo system.

Everything else in your car is covered by your home insurance. In 2015, more than 22,600 thefts of personal items from vehicles were reported in Quebec. If it happens to you, youll need to report the theft to your home insurer and file a separate claim for these items.

Tip: You can make your life easier and maybe even save money by bundling your home and car insurance with the same company. In some cases, youll only have one deductible to pay . And youll often get your settlement faster with only one insurer working on your claim. At Desjardins Insurance, you automatically get Double Contract Savings when you bundle your insurance.

How To Find A Stolen Car

What to Do When Your Car Is Stolen

You can use your vehicles identification number to look up your car on the National Insurance Crime Bureaus VINCheck, which functions as a stolen car database. The database can help you locate your stolen vehicle.

If any partner of the NICBincluding insurance companies and law enforcement agenciesfinds your missing vehicle, it will be reported on VINCheck.

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Telling Your Finance Company

Now its time to let your finance company know. With the details youve already gathered for your insurance company, you now have all you need to inform your finance company too.

This is pretty straight forward really. Just call and give them the crime reference number youve been given by the police. You will have to continue paying your finance instalments while your claim is settled by the insurance company. If your car is later found and returned to you, youll need to get a letter from your insurance company confirming this.If your car is not recovered and returned to you, you should pay off the amount still remaining on your finance with the insurance payout amount. Once thats done, your agreement is finished and youre free to start a whole new agreement for a new car.

What Happens If The Police Find Your Car

A high percentage of cars reported stolen are located, however they are often damaged or even burnt out beyond repair.

When a car reported stolen is located, police will make contact with the owner to let them know.

If the car hasnt been used in any further offences, the owner will normally be given the option of picking up the car or having it towed to their desired location.

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Check It Is Locked And Then Check Again

You can never be too sure. Whether youre parked at home, or whilst youre out and about, double check your car is locked . There are instances when thieves can block the signal from your key to your car if you press a button to lock it – so you’ll think it’s locked and actually, it isn’t! Once you’ve pressed the lock button, just try the handle to check it is definitely locked to be on the safe side.

What Happens If My Car Is Recovered After The Claim Has Been Paid

5 things to do if your car is stolen

If the claim has already been paid, then your insurance company owns the vehicle. First, you must report the recovery of your vehicle right away and let your insurance company know. In most cases, they will send a team to retrieve the vehicle. If you haven’t bought a new vehicle, your insurance company may offer you the option to buy back the car. The exact procedure varies from company to company, so it’s best to check with your insurer about what your options are.

According to the FBI, approximately 721,885 vehicles were stolen in 2019. Only a small number of cars are ever returned after they disappear.

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Am I Liable For The Stolen Car

Typically, you wont be held liable for your car after its been stolen. If the thief gets in a wreck, for example, that damage wont be attributed to your car insurance policy.

However, many states have laws in place that penalize you for negligence that led to the theft. You can be ticketed if youre caught leaving your car unlocked, leaving it running or leaving keys inside the car. Worse yet, its possible to have claims filed against you if your car was stolen due to your negligence and the thief caused damage while driving your car. In cases such as this, the insurance company will pay our liability claims up to your limits, and you can expect to see higher car insurance rates in the future.

What Happens If My Stolen Car Is Recovered

In some cases, authorities can recover stolen cars more easily if they’re equipped with a GPS system. Some advanced GPS systems feature tracking technology, which enables law enforcement to pinpoint the location of a stolen vehicle.

But if a thief makes off with your ride, chances are you’ll never recover it. “We find that most car thieves, if successful, take the stolen cars to chop shops in exchange for money,” says Lohmar. “Chop shops buy stolen cars, disassemble them, and sell their individual parts for profit, typically within hours of the car being stolen. They are most often working as a part of a larger criminal organization,” says Lohmar.

If your car is recovered, it may return damaged. Comprehensive auto insurance covers damage to original and custom equipment caused by car thieves, but within limits. “Some things that are not stock equipment require extra coverage,” says Gary Paulson, owner of Mid-Columbia Insurance in Yakima, WA. “Some companies will cover customizations to a limit, like $3,000. But if someone has a $7,000 stereo in their car and it gets stolen, if you don’t have extra coverage to cover that stereo, it’s not going to be covered to replace it.”

If you get a settlement and the vehicle is later recovered, it will belong to the insurance company. But you may have the opportunity to buy it back from the carrier, Paulson says.

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How Does Auto Theft Affect Your Insurance Costs

Auto theft can affect how much you pay for insurance. It costs drivers, companies and the government millions of dollars annually. Your insurance is impacted by many factors such as :

  • Where you live : Larger cities like Mississauga, and Ottawa are known more car theft. If you live in a neighbourhood that is known for a high amount of automobile thefts, you can expect a higher premiums.
  • The automobile you drive : Automobiles that are common targets for theft cost more to insure. Each year the IBC puts out a list of the most stolen cars in Canada.
  • Contact Your Auto Insurance Company And Lender

    What to Do If Your Car Is Stolen

    This should be your very next move after the police. “Call right after making the police report,” advises Penny Gusner, consumer analyst with Insurance.com. “If you wait, it may look suspicious.”

    If your car is financed, as noted, notify your lender as well. Its just a good idea, though, um, yeah, youll still have to make your payments. Sorry to tell you that, but theft doesn’t affect what your bank is owed. Thats why lenders require that you purchase comprehensive and collision coverage. Your obligation to the financial institution ends only when the loan is repaid, whether you have a car in the driveway or not.

    Even if you only carry liability, you should still call your insurance company, Gusner says, to protect yourself if the thief causes damages to other people or property with your vehicle. Typically, if you werent negligent, youre not responsible for damage caused by the thief.

    When you contact your insurer, have the following information handy:

    • Date and time of the theft
    • Location of the vehicle
    • Names and contact information for anyone who had access to the vehicle
    • Detailed description of the car and its condition when it was stolen
    • Contact information for your financing company if the car is financed
    • Police report number

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    Protect Yourself From Identity Theft

    Although there is no foolproof way to prevent identity theft and fraud from ever occurring, there are things you can do to help lessen your chances of becoming a victim:

    • Be careful with your property. Never leave sensitive information or expensive computer equipment in your car, whether it’s parked at the mall or in your own driveway.
    • Protect your personally identifiable information. Don’t carry your Social Security card, birth certificate or passport in your wallet or purse unless absolutely necessary, and never leave it in your car.
    • Be careful when browsing the internet. Don’t use public Wi-Fi networks to access banking or financial information, and only use secure websites when shopping online .
    • Shred sensitive documents before discarding them. It’s a simple step that can thwart thieves.
    • Beware of shoulder surfers. Check your surroundings to make sure no one is looking over your shoulder before you enter personal information on your phone or laptop in public.
    • Review your credit reports regularly. Monitoring your credit history can help alert you to signs of fraud sooner. You can get a free copy of your credit report weekly from each of the three credit reporting agencies through AnnualCreditReport.com from now until April 2022 and enroll in free credit monitoring through Experian.

    Thanks for asking.

    What Happens If My Car Is Stolen While Im Still Paying Finance

    Your car has been stolen & you’re still paying finance. The first thing to do is not panic. Take a look here for what you should do next.

    What should I do if my car is stolen? First things first, lets have a look at what you need to do if your car is stolen. May seem obvious, call the police and call your insurer, right? Well, yes, but theres a bit more to it than that. And we suspect that if youve never had the pleasure of being the victim of a car thief, youll have no idea! So, if you walk outside to where your car should be, and find an empty space instead, first make sure your wife/husband/child hasnt taken it without you knowing. If they havent, you should call the police and report it stolen. If its not an emergency, which is probably wont be, dont use 999 use 101 instead. When you get through, ask for your local police station. Of course, if you believe it is an emergency, use 999.

    Have the car details to hand, like the registration, make, model and colour. If there are any modifications that would make it stand out, such as spoilers or unusual alloys, tell the police about those too.

    The police will give you a crime reference number. Make a note of this, as youll need it when you call your finance and insurance companies to report your car stolen. The police will inform the DVLA of the theft, and if your car is found again, so you dont have to worry about that.

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    Way 4 Use Gps Device To Locate Your Stolen Car

    If you’ve installed a GPS tracking system, like OnStar, LoJack, etc. to your vehicle, the company of the tracker can help you determine the location of your stolen car, and even shut it down.

    No matter where your car got stolen, such as the dealership, driveway, garage, valet parking, or a mechanic shop, you can trace your stolen vehicle with the GPS quickly.

    Way 10 Keep A Record Of Your Belongings When Your Car Is Stolen

    How to get your stolen vehicle back

    As noted above, if your car is stolen, the insurance company might compensate for your loss including your personal belongings left in the stolen vehicle based on your insurance policy.

    So instead of immersing yourself in the sadness when you find your car is stolen, keep a record of your valuables in the stolen vehicle while your memory is fresh. Also, prepared the receipt of the items you’re going to include in the insurance claim to recover your loss.

    Besides the above effective ways to look for your stolen car, you can get detailed answers below to the hottest “Car Is Stolen” questions, including stolen car insurance, chances of finding stolen vehicles, etc.

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    What Steps Should You Take If You Suspect Your Car Is Stolen

    1. Avoid touching anything

    Be sure to avoid touching or moving anything the offender may have possibly touched at the scene .

    2. Report it to police

    Contact your local police service to report the missing vehicle. Some states have online reporting tools or you can call Policelink on 131 444.

    When making a report, you will typically be asked to provide answers to the following questions, which will assist police to begin investigations into your stolen car:

    • Your details
    • When it occurred
    • Where it occurred
    • Victim details
    • Details of the vehicle involved
    • Details of any property stolen or damaged

    3. Check for possible CCTV

    If you or your neighbours have CCTV cameras, check them to see if they captured anything police may be able to use. Alternatively, if your car was parked in a public area , you can try contacting your council to request this footage. You can upload videos and images to your police report online.

    4. Contact your insurer

    Report the theft to your insurance company, if your car was insured.

    Should I Cancel My Insurance Policy When My Car Is Stolen

    No, keep your liability insurance for at least 30 days after the car is stolen. A few reasons:

    • The police may recover it and return it to you in the same condition it was in before, and you wont want to have to start a new policy just to drive it.
    • Most car insurance companies will extend your liability coverage to a rental car if youll be using one.
    • If you end up without a car for an extended period of time, you can transition your current policy to a non-owner car insurance policy . This means that youd retain continuous coverage as a driver, avoiding a lapse in insurance, and ultimately pay lower rates down the road.

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    Making A Claim If Your Car Is Stolen

    If your car is stolen, even for a short time, tell the police and your insurer immediately and check to see if your policy covers the cost of a replacement vehicle. If youre paying your premium by instalments you may have to keep paying until your policy is due for renewal.

    Your insurer may wait to see if the vehicle is found. If they settle your claim and the vehicle is then found they will keep the vehicle. If your car isn’t found your insurer should pay you its market value, which is what you could have sold it for.

    If you’re not satisfied with how much the insurer offers you, try to prove the car was worth more, by using car price guides or prices in local papers.

    An insurance pay-out may end your policy but this depends on the policy. If you paid the full amount up front, you probably won’t get the rest of your premium refunded.

    What Are My Options For Car Theft Insurance

    Quick Tips: What to Do if Your Car is Stolen

    You can add protection against auto theft by adding any of these additional modifications to your insurance :

  • Comprehensive : This pays for the cost to repair or replace your automobile as a result of unforeseen situations.
  • All Perils : In addition to theft protection, it provides protection against loss if your vehicle is taken by someone living in your home.
  • Specified Perils : If you dont want to add comprehensive but want theft protection, you can add a specified peril.
  • Gap Insurance : Comes in handy during total loss claims, such as stolen car. It is the difference, or gap, between how much your vehicle is worth and how much you owe.
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