WEDNESDAY, JANUARY 27, 2021
At minimum, your car is your source of transportation, and probably something you’re quite proud of. It’s also one of your most significant monetary investments. You clearly don’t want to have a wreck or face any other type of vehicle damage, and one of the most significant of these might be vehicle theft. 
The Insurance Information Institute (III) estimates that vehicle theft caused more than $6.4 billion in financial losses in the United States in 2019. Individually, any theft could be an expensive one.
On one hand, auto insurance will cover vehicle theft, provided that you have the right coverage within your plan. Still, there are a lot of things you can do to both prevent theft and mitigate any losses if the worst ever does occur.
Avoiding Vehicle Theft
Auto insurance plans offer a type of benefit called comprehensive coverage. It insures your vehicle against damage that is not related to a collision. Vehicle theft and vandalism (sometimes called partial theft) are nearly always covered under this benefit. Therefore, if your vehicle ever does get stolen or damaged in an attempted theft, then a claim on your comprehensive coverage can help you repair or replace the lost vehicle.
Still, having auto insurance is no excuse not to use practical theft prevention techniques, such as:
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Always locking the car and arming your security system, even in your own driveway.
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Not leaving valuables on view inside the vehicle.
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Installing GPS tracking devices in the vehicle.
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Placing theft deterrents, like steering wheel locks, in the car.
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Parking in well-lighted areas close to your residence or place of work.
What to Do If You Are A Theft Victim
No matter how hard you try, you might not be able to avoid vehicle theft. Today’s thieves are crafty, after all.
Still, if the worst occurs, then immediately spring into action:
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Call the police. Report the vehicle’s make, model, plate numbers and any distinguishing features. If you have any clues as to what might have happened, share them with the police.
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If you have a neighborhood watch patrol, then notify them of the theft, as well.
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Call your car insurance company. Regardless of whether you have comprehensive coverage for the loss, your insurer needs to know what has happened, and that you no longer have possession of the vehicle.
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Think about whether you have any important possessions in the car. This might include cash, credit cards, photo IDs or valuable belongings. You should report these items stolen and put safeguards in place to mitigate a threat to your identity and bank accounts.
The police and your insurance company are there to help you in case of any instance of theft. So, don’t hesitate to rely on them to guide you through the process of either declaring your vehicle a total loss or recovering it with a minimal personal fine.
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