If you have comprehensive car insurance as part of your policy, it will likely cover the theft. You\u2019ll need to check your policy\u2019s terms and conditions to fully understand what\u2019s covered and how much you could receive. But if you don\u2019t have comprehensive coverage, you might be out of luck. <\/p>\n\n\n\n
Also remember that even if your car insurance covers the theft of the vehicle, it typically won\u2019t cover any personal property that was in the car. Comprehensive car insurance only pays you if your car gets stolen. This optional coverage is the only way that car insurance reimburses you for theft. <\/p>\n\n\n\n
That\u2019s why it\u2019s smart to buy comprehensive coverage.<\/p>\n\n\n\n
If you want insurance for car theft, you\u2019ll need to add comprehensive insurance to your\u00a0car insurance\u00a0policy. Comprehensive coverage pays out for car theft and certain types of vehicle damage, up to the actual cash value of your car, minus your deductible.<\/p>\n\n\n\n
Car insurance comes in a\u00a0few different varieties.\u00a0Liability is the most basic kind of auto insurance and covers bodily injury and property damage. It\u2019s mandatory in all states except New Hampshire.\u00a0Collision insurance is an optional coverage that helps pay for damage to your vehicle in case of an accident with another car or an object like a telephone pole.\u00a0Neither liability nor collision coverage protects against vehicle theft.<\/p>\n\n\n\n
If you\u2019re looking for insurance that covers stolen vehicles, or damage to your vehicle from a break-in, you need a comprehensive policy. Comprehensive insurance also covers damage from storms, falling objects, or animals.<\/p>\n\n\n\n
Comprehensive car insurance\u00a0will cover these theft-related problems:<\/p>\n\n\n\n
You will be responsible for your deductible for a theft claim. For example, if you have a $500 deductible and your car is valued at $7,000, you would get an insurance check for $6,500 ($7,000 \u2013 $500 deductible = $6,500).<\/p>\n\n\n\n
Comprehensive insurance also covers damage to your vehicle from problems such as vandalism, fires, floods, hail, falling objects (like tree branches) and collisions with animals (like deer).<\/p>\n\n\n\n
No state law mandates that you have comprehensive insurance. But if you finance or lease your vehicle, your lender will likely require you to buy comprehensive coverage in order to protect their financial interest.<\/p>\n\n\n\n
Comprehensive insurance won\u2019t cover personal items that are stolen from your vehicle. For example, if your laptop gets stolen, comprehensive coverage won\u2019t pay to replace it. However, you generally have coverage for stolen items under condos, renters, or homeowners insurance.<\/p>\n\n\n\n
Another thing comprehensive insurance won\u2019t cover is the cost of a rental car. If your vehicle is stolen or damaged, you\u2019ll need rental reimbursement insurance if you want to make an insurance claim for a rental car while your vehicle issue is resolved.<\/p>\n\n\n\n
Though comprehensive generally covers vehicle theft and damage from break-ins, it covers only the car itself. If you had personal property stolen from inside the car, like a laptop or sports equipment, your car insurance won\u2019t cover it.<\/p>\n\n\n\n
However, most\u00a0homeowners or renters policies\u00a0cover theft of your personal property, even items stolen from your car.\u00a0Check the exact terms and conditions of your policy so that you know what is and isn\u2019t covered. Then, you\u2019ll\u00a0file two different insurance claims, one to your car insurance for the car itself, and another to your homeowners or renters insurance for the personal property that was inside the car.<\/p>\n\n\n\n
The average cost of comprehensive insurance is $298 per year,\u00a0based on Forbes Advisor\u2019s analysis.<\/p>\n\n\n\n