In 2024 The National Highway Traffic Safety Administration has reported more than 850,000 vehicles were reported stolen.
It’s important to know how your auto insurance protects you if the unexpected happens.
Theft of your vehicle is generally covered under the comprehensive coverage portion of an auto policy. This type of coverage often extends to:
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The value of your vehicle if it is stolen and not recovered. The payout is typically based on the car’s actual cash value (ACV), which accounts for depreciation.
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Damages caused by an attempted theft, such as a broken window or ignition damage.
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Permanently installed features in your car, such as a stereo or built-in navigation system, if they are stolen or damaged.
However, it’s worth noting that personal items left in your vehicle—such as laptops, phones, or other valuables—are not usually covered by an auto insurance policy. In these cases, coverage for such belongings is often available through a homeowners or renters insurance policy.
If your policy includes comprehensive coverage, you’ll typically need to pay the deductible first, after which your insurance will take care of the remaining covered costs. It’s also important to remember that the level of protection and limits can vary depending on your specific policy.
If you have any car insurance questions Merit Insurance Group is here to help! Call us at 708-845-5466 or visit our website at www.meritinsurancegroup.com
