What happens when your car is stolen and recovered?

If your car was stolen and recovered, you do have to take it back if your insurer has not paid out the comprehensive insurance claim for it yet. If your insurance company has already paid out the claim for the stolen car, your insurer legally owns the vehicle and will decide what to do with it themselves.... read full answer

When you accept the claim for a stolen vehicle, you sign over the ownership of the vehicle to your insurance company, so even if you wanted to keep the vehicle, you don’t have any legal right to it after the claim is settled.

However, if your stolen car is recovered but you did not make a claim, either because you do not have comprehensive insurance or you neglected to file the claim, you are fully responsible for the vehicle. In most situations, you can’t refuse to take back your vehicle without it costing a lot of money out of pocket.

What Happens If You Abandon Your Recovered Stolen Car?

If the police find your stolen vehicle and you don’t want to take it back, you could just abandon the vehicle. If a car is abandoned in an impound lot, it will eventually be sold for scrap or sent to auction. However, because the car is still your property, you’ll be responsible for any towing costs, fines, and impound-lot fees the vehicle accrues before then. This will likely be more expensive than it is worth.

To learn more about coverage for stolen vehicles, check out WalletHub’s guide to comprehensive car insurance.

If your car is stolen, you should call the police as soon as possible to file a report, then notify your insurance company. Comprehensive insurance will cover any damage that results from theft, and if your vehicle isn’t recovered, it will reimburse you for what the car was worth prior to being stolen.... read full answer

Even if you don’t have comprehensive coverage, you should still report the stolen car to your insurance company. This way, you can ensure that you won’t be held liable if the thief causes any damage while driving your car.

What to Do If Your Car Is Stolen

1. Call the police and file a report

You should call the police within 24 hours of your car being stolen. When you file a police report after your car is taken, you will need your vehicle’s specific information. This may include your car’s physical description (make/model/year), license plate number, and the vehicle identification number (VIN). You should also provide police with the specific date and time that the theft occurred.

2. Contact your insurance company

You will likely need to give your insurer the same information that you gave the police, in addition to a list of personal items that were in the vehicle when it was stolen. Your car will be covered if you have comprehensive insurance, and any personal items are generally covered by homeowners or renters insurance. If you have rental reimbursement insurance, your insurer may cover the cost of a rental car, too.

3. Contact your lender or lessor

If your car is leased or financed, you need to notify your lender or lessor if the vehicle is stolen. Since they will receive the final settlement if your car is totaled or not recovered, your lender or lessor can work directly with the car insurance company in order to expedite the claims process.

4. If the car is recovered, get it inspected

In the event that the police find your stolen car, you need to take it to a body shop and have it inspected. Cars are often stolen for parts, so it’s important to make sure your vehicle is still in working order and safe to drive.

5. File an insurance claim

If the stolen car gets recovered but is damaged or declared a total loss, your comprehensive insurance can be used to fix or replace it.

Only about half of stolen vehicles are recovered, so there’s a good chance that you won’t get your car back. In that case, your comprehensive insurance will reimburse you for the car’s actual cash value (ACV), which is what it was worth at the time that it was stolen.

For leased or financed cars, the settlement will be paid to your lender or lessor. If there is a balance remaining on your loan or lease after your insurance pays out, then you will need gap insurance in order to avoid paying for a car that you no longer have.

Yes, car insurance covers theft if you have comprehensive coverage, which is optional. Comprehensive auto insurance can help replace your car if it’s stolen or repair damage to your car resulting from break-ins or vandalism.

It is important to note that normal liability car insurance won’t cover theft because it only protects other drivers from bodily injury and property damage resulting from an accident you cause.... read full answer

What Insurance Covers If Your Car Is Stolen

• Your insurance company will pay your car’s depreciated value, or actual cash value (ACV), minus your deductible, if you have comprehensive coverage.
• If your vehicle is financed and you owe more than your car is worth, gap insurance will cover the difference between your car’s actual value and the balance owed.
• If you need help paying for transportation costs related to your car being stolen, rental reimbursement coverage will pay for a rental vehicle.

Car Insurance & Theft of Personal Items

Although comprehensive coverage will apply if your vehicle is stolen, no type of car insurance will cover theft of your personal items from your vehicle. Your phone, laptop, or other valuables should be listed on your homeowners or renters insurance policy, even if you often leave them in your car.

Next Steps

If your car is stolen, file a police report as soon as possible—ideally within 24 hours. Not only will this improve your chances of recovering the car, but you’ll also need a police report to file a claim with your insurance provider. After you’ve filed a report, you should contact your insurer to start the claims process