Getting the proper car insurance for your vehicle is something very important and you should carefully choose one. There are many factors that should be taken into consideration and one of them surely has to be a stolen car. Not many car insurance companies offer this kind of service and this is one of the main reasons why you should conduct a thorough research. The difference in the types of insurance is what you are supposed to look out for. For example, a car insurance for a stolen car will not be covered in the basic version. If you want to make sure that you choose the right one, getting the comprehensive coverage is your way to go. Let us take a look at some of the most important factors.
First and foremost, it is worth noting that not a single state in U.S. requires from you to have a comprehensive insurance. This means that if you have a minimum coverage, getting the comprehensive one is totally up to you. Make sure to compare the rates between these car insurance companies and choose which one is the best for you. Furthermore, it is also important to know what things were actually stolen from the car too.
Let us take a look at what does the comprehensive insurance actually cover. As we said, a stolen car is within the things covered but it is not the only one. Vandalism, stolen keys or key fobs and a damage your car might suffer while getting stolen. You might actually be surprised, but the comprehensive insurance actually covers the theft of a catalytic converter. The price of catalytic converters has sky-rocketed in the past couple of years and this is in fact one of the most common things stolen from a car.
So, the way the comprehensive coverage actually works is this. When the car is stolen and it is not returned or never found, the insurance company is going to pay you the current value of the when it was stolen. Of course, the comprehensive claims have a deductible which basically means you have to pay a certain amount before the company pays the rest. You have to make some calculations too. There might not actually be a need for you to get a comprehensive insurance at all.
For example, if you have an older car, all you have to do is to compare the value of it to the amount of your deductible and the payment of coverage. Once you combine this together, you will get a certain amount and if there is not much of a difference between the value of your vehicle, then it is probably not a good idea to get a comprehensive insurance. This is why planning is always very important. Well, now you know the right wat that a car insurance for a stolen car actually works and what is the best thing to do in such a situation!