Your Car was Stolen, Now What?
Did you know in 2016, Michigan was listed 6th in the top 10 states for stolen cars? According to the Auto Theft Prevention Authority report, over 18,000 cars were stolen in Michigan. Mondays and Thursdays are the most popular days for cars to be stolen and August is the most popular month. However, in good news, “Michigan thefts have declined 56% […] from 2005 to 2015.”
Is your car on the list of the Top 10 Most Stolen Vehicles? Take a look.
*Image taken from 2016 ATPA Annual Report
So What Happens Now?
If your car is ever stolen, the first thing you’ll want to do is call the police and file a report. Make sure to provide as much information about the vehicle as you can. The report will go into a national database that keeps track of stolen cars. This makes it harder for your car to be turned around and sold by the thieves.
Once you’ve filed your report you’ll want to call your insurance company and provide them as much information about the theft as you can: when was it stolen, where was it located, and that you’ve filed a report with the police. Most people will have comprehensive coverage on their insurance policies. Comprehensive covers just about anything that happens to your vehicle outside of your control. Most people prefer comprehensive because it is cheaper than liability or collision. For those who have liability insurance, they are unfortunately not covered as it only provides damage or injures caused to others.
After filing a claim, 1 of 2 things can happen. If your car is found quickly, make sure to let your insurance company know. Your comprehensive insurance will cover any damages done to the car caused by the thieves. If after a 30 day waiting period, your insurance company will pay you out for the market cost of the car. Anything you might owe on your car to lienholders will be withdrawn from what you receive.
Give Me the Statistics
Interested to see the numbers for stolen cars in Michigan? Make sure you check out the Auto Theft Prevention Authority‘s report. And make sure you call Compass to update or check on your Auto Policy. Because we’re always “pointing you in the right direction.”