Will the insurance company compensate for a stolen car?
2 Answers
Will the insurance company compensate for a stolen car? Compensation amount after theft: 80% of the total loss amount per incident should be compensated. Details of compensation: Total vehicle loss: If the insured vehicle is stolen, robbed, or seized, and the local public security criminal investigation department at or above the county level has filed a case, and the whereabouts of the vehicle remain unknown for 60 days, the total loss of the vehicle will be compensated. Compensation based on the value of stolen items and the insured amount: After purchasing the accompanying luggage insurance, if the luggage stored in the car compartment or trunk is stolen, the insurance company will compensate based on the value of the stolen items and the insured amount.
If your car is stolen, will the insurance company compensate you? It mainly depends on the type of insurance you purchased. From my personal experience, a friend's old car was stolen last year. He had comprehensive insurance, so he immediately filed a police report and obtained a receipt, then reported it to the insurance company. They sent an investigator to verify the claim. In the end, he was compensated based on the car's second-hand market value, not the brand-new price, so the payout was much lower. The entire process, from filing the claim to receiving the compensation, took nearly a month, during which he had to provide copies of the car keys, vehicle documents, and other paperwork. After the compensation, his insurance premium increased by a few hundred dollars the following year, which wasn't very cost-effective. I recommend all car owners check their insurance policies to ensure they have coverage for theft under their auto damage insurance—don't skimp on this small expense.
