IS YOUR CAR WORTH REPLACING IF STOLEN?
Having your car stolen is can be an extremely frustrating experience. Not only do you have to deal with the personal violation of having your personal belongings taken from you but you then have to wait. Your insurance company won’t pay right away. First there will have to be a police report filed, and then there will be a waiting period to see if the car is recovered.
Finally if the vehicle is not recovered the insurance company will calculate the vehicle’s depreciated value and pay you enough to buy a similar used vehicle.
Theft is part of your comprehensive coverage along with fire, vandalism and weather damage. Depending on your cars value you may choose not to purchase comprehensive coverage at all. If you decide that your car is not worth the extra cost of comprehensive coverage you can go without knowing that if it is stolen, you won’t be getting any money to replace it.