Does Car Insurance Cover Theft?
Theft of your car is covered under comprehensive (other than collision) insurance. Theft of the items in your car would not be covered by your auto policy, but may be covered under your homeowners policy.
If your car is stolen, you should notify the police as soon as possible. Failing to notify the police could affect the outcome of your claim.
What Comprehensive Insurance Covers
- The actual cash value of a stolen car, or
- The cost to recover and repair your stolen car, if it's found
Your policy may include a 48-hour waiting period before payment is issued. If the car is found after payment has been made, your insurer may have the option to keep the car, since you've already been compensated.
- Your temporary transportation expenses
A stolen car means that you'll likely have trouble getting around. Your insurance policy may reimburse you for temporary expenses like the cost to rent a car, take a taxi, or call a ride-sharing service. Usually, this reimbursement starts after the 48-hour waiting period and ends once the car is repaired, returned, or reimbursed.
What Comprehensive Insurance Doesn't Cover
- Items stolen from your car
Auto insurance does not cover items stolen from your car, unless they're part of the vehicle. Your policy might cover the car's original radio or its hubcaps, but it wouldn't cover the laptop you left on the seat or GPS in the glove compartment. Those items may instead be covered under your homeowners, condo, or renters insurance, subject to your deductible.