Hundreds of thousands of vehicles get stolen every year. More so, most people think they cannot be victims of such a crime unless they live in unsafe or low-income areas. However, you should know that some vehicle theft cases are crimes of opportunity, and the offenders only need minutes to access your car and take off with it. As such, an auto insurance policy against that is one of the best ways to ensure you don't pay for a new car. Here is everything on insuring your vehicle against theft.

Your Steps After A Car Break-in

You want to start by taking photos when an unauthorized party accesses your car to record the state they left it in. More importantly, the images will help you prove that the incident happened. Secondly, you should note everything that is missing from the vehicle and its estimated value. In addition, call the police and file a formal report of the incident, which will be very useful in making a claim. Following this, inform the insurance company if you have a personal possession add-on coverage. They will work on the case and compensate you as soon as possible.

Choosing the Right Insurance Product to Cover Theft

Several insurance types can help you deal with the unfortunate situation of car theft. For example, a comprehensive policy is an excellent product, although it can be pricier. That said, it will help you have a stress-free life as a vehicle owner. In addition, you should add custom parts and equipment coverage. This is because a comprehensive plan cushions against the parts that came with the car from the factory. So if the car theft involves the removal of aftermarket parts, the policy might not compensate you. However, the custom parts coverage will help you replace them. More importantly, know that a comprehensive plan reimburses the vehicle's value, which could be lower than the loan you took to buy it. In this case, gap insurance coverage should help you deal with the additional cost of the loan.

What the Insurance Doesn't Cover

Comprehensive coverage compensates you when your vehicle or its parts get stolen. However, it does not come in if dealing with stolen items inside the car, as it only pays for the original bits of the vehicle at the point of purchase. Moreover, you will not get compensated if the catalytic converter gets stolen in some states. So talk to your insurer and see what you stand to gain by purchasing this product in your state.

Speaking to an automobile insurance agent is the best way to determine what insurance products cushion you against and what you will pay out of pocket. This way, you can take out a policy when you understand how it will help you. In the end, you will have peace of mind when fully insured.