Car Insurance Theft Claims 101
Car insurance covers you for a lot of things. If you get into a crash, it’ll fix your car. If a hail storm destroys the paint job on your car, you can get the paint job redone. You might be surprised to find out, however, that there is one very blatant thing that is missing from car insurance; coverage for your personal property.
Have you ever had your car broken into? Have you ever had anything stolen from your vehicle? If you can answer “yes” to these two questions, you may already know where we are going with this. Although car insurance will repair or replace any damaged car parts or items, it will not replace any belongings. Simply put, car insurance does not come with any “stuff” coverage (professionally referred to as personal property). When you purchase home insurance or renters insurance, personal property coverage is automatically included. Personal property coverage protects your valuables from disasters like theft, vandalism, fire, hurricane, etc. Because most people do not keep many valuables in their car, valuables typically aren’t covered through car insurance.
So what do you do if your car gets broken into and you have a bunch of valuables stolen out of it? Well, if you have home insurance, you can file a home insurance claim. Most home insurance companies will extend your personal property coverage to include valuables that are in or on your property. A car is your property, and thus would qualify. Also, most renters insurance policies will also extend to protect your valuables while in your car. The only negative of having to use your home insurance for property stolen from your car is if your car has damage. If your car sustained damage from the break-in, you will have to pay two deductibles; one to meet the deductible requirements with your car insurance provider to fix the damage to your car, and one to meet the deductible requirements with your home or renters insurance company to replace your valuables.
What if you don’t have home insurance or renters insurance? Well, tough luck. That sounds harsh, but it is the harsh reality. There’s really not much you can do if you don’t have any personal property insurance through any other insurance provider. Sometimes you can get your car insurance provider to insure a certain dollar amount of personal property for you, but this is the exception and not the rule. If you don’t have home or renters insurance and are worried about the possibility of your car getting broken into, my advice is this; keep all belongings out of the car! Safe driving!