It’s every car owner’s worst nightmare–you get back to the place you parked, and your car is nowhere to be found. When your car is stolen, there are a whole slew of things to worry about, from getting a new car to replacing all the property that you lost inside it. One thing many people don’t know about is how theft affects your car insurance rates, but there are some important things you’ll want to know about coverage in the rare event that your car is ever stolen.
Before You Buy
Before you even buy your car, there are some things to keep in mind to keep your car insurance rates low. Essentially, car insurance companies are going to charge you more to insure a car that has a high risk of being stolen. There are ample statistics about car theft today, and the cars that are most commonly stolen are the Honda Civic, Honda Accord, and Toyota Camry. If you buy a car on the list of most commonly stolen vehicles, you are going to be charged more for insurance. Additionally, you will be charged more if you live in a state with a particularly high rate of car theft, like California, Texas, or Florida. If you want to avoid high insurance costs due to the likelihood of theft, do some research. Pick a car that does not appear on the commonly stolen list, and if your living situation is flexible at all, choose to live in a state with low car theft rates.
Theft and Coverage
Car theft is technically defined as theft of the entire vehicle or theft of an important component of the vehicle, like the steering wheel or airbags. When choosing a car insurance policy, you’ll need to purchase a comprehensive one that provides you with coverage of your actual physical car, not just liability coverage. While having coverage for your car in the rare case of theft can be extremely helpful, it’s important to know that most insurance companies will only cover the depreciated value of the car, rather than the amount it will cost you to replace it. Also, some insurance companies will not cover the cost of a rental vehicle between the time your car is stolen and the time it is replaced. So, investigate policies thoroughly and make sure yours covers everything you need in case of an emergency.
Some features of a car are considered anti-theft devices, and having these in your car can help lower your insurance costs. Many states require car insurance companies to give drivers discounts for anti-theft features, since they greatly reduce the risk of having your car stolen. Anti-theft devices include wheel locks, tire locks, alarm systems, GPS tracking devices, steering column locks, starter disablers, and fuel disablers. Opt to purchase anti-theft devices, and you can see reductions of anywhere from 5 to 30 percent of your premium costs.Need more information on car insurance rates? Call Accu Rate Insurance Agency at 888-607-6499 for additional assistance on St Louis Auto Insurance.