It depends on the circumstances around the claim, if there's anything suspicious about the claim, whether the vehicle was recovered, etc.
Insurance companies differ, too, on their philosophies around settling the theft of a vehicle. For instance, say your coverages and information are both in order; there's nothing suspicious about your claim; the vehicle wasn't recovered. One company may take two weeks, with the understanding that if your vehicle wasn't found within a few days, it's unlikely to be recovered. Another company may take 30 days, believing the vehicle may eventually show up in that time.
Usually, your carrier will provide you with a rental car for a stolen vehicle, even if you don't carry rental coverage on your policy. That's definitely something to look into.
If your claim is taking an inordinate amount of time -- say, it's been over 30 days -- you might want to discuss it with your claim rep or his/her supervisor. It's possible, given the circumstances of the theft, that your carrier's Special Investigations Unit (or SIU) is involved. If that's the case, you'll very likely see a delay. Insurance carriers are usually required to have an SIU department by law, and their investigations tend to get pretty thorough.
Also, keep in mind that per your policy, you must cooperate with your carrier during the handling of your claim. So, if you haven't returned all the requested documentation -- like an Affidavit of Theft -- delays will occur.
Generally between 2 weeks to 30 days. Investigations will ensue after the report is filed.
30 yrs ago when I was an ins. claims adjuster, it took on average 30 das, depending upon the make, model and age of the vehicle. It may be sooner in the case of an older vehicle that perhaps should not have been insured in the first place, or longer if the investigation revealed any suspicious information. In any case the ins. company would try to limit the extent of the rental it would incur which would have an affect on the salvage value in the event it was recovered.
You or your insurance company. The owner of the stolen vehicle would not be responsible because their vehicle was stolen and the driver of the stolen vehicle's insurance would not cover it because he was driving a vehicle that was not on his policy and he did not have permission to drive.
I think that your insurance covers the items that were yours that were stolen, and the company's covers the car damage.
You must have comprehensive coverage in order to recover on a claim from your insurance company if your vehicle is stolen. Liability only is just that, liability for your legal liability for damage or injuries to others.
You should report the theft immediately to the police and to the car owner's insurance company.
Unfortunately, there is nothing you can do with your insurance company. If you only have liability insurance, they do not pay anything to have your vehicle replaced.
If one's car is stolen, the first step is to call the police and provide information on the stolen vehicle; then follow the advice of the police as quickly as possible so as not to delay recovery of the vehicle. The next step is to contact the insurance provider to process an insurance claim.
No, that wouldn't be a reason for claim denial. It may be a reason for them to investigate you for insurance fraud.
The second vehicle will be covered by it's own insurance. That company will then attempt to sue the driver to recoup it's losses
No, as long as you have let your insurance company know they car is stolen.
Probably because the owner did not exercise normal precautions and by leaving the keys in the vehicle actually participated in its theft. Call that lawyer who advertises on TV. If he can't get the insurance to pay, he'll get a judgment against the owner. The owner of a stolen vehicle is not responsible for the actions of the thief that stole their vehicle. If there is no liability on the owner, the insurance company does not owe the claim for property damage to others.
Liability Insurance and the Stolen VehicleNo, Liability Insurance provides coverage for damages or injuries that we cause to others. It does not provide coverage for our own vehicle damages or theft.
No, That's what Auto Insurance is for.
After making a police report, contact your insurance companies claims department right away and report the theft If you have comprehensive coverage on that vehicle, then your loss will be covered under your policy. If you have rental car coverage then the Insurance Company will also pay for a temporary rental car for you to drive. It just depends how much insurance you bought. For vehicle theft claims, It is customary for the Insurance Company to wait a short time to see if your stolen vehicle is recovered for you by authorities.
They will accept almost any claim, paying it is another matter.
Major benefit of stolen vehicle tracking is being able to identify and locate any stolen vehicle using GPS tracking. Also cars with stolen vehicle tracking can be subject to reduced insurance premiums.
Comprehensive insurance covers theft. Liability & Collision do not.
You either have to return the money or not keep the vehicle. You don't get the benefit of both the value of the car in cash and the actual car.
If you have theft insurance with your policy, yes. It should not matter where your vehicle was stolen.
You can't just cancel a claim. It is basically up to the Insurance co. to either aprove a claim or deny it. However, it the vehicle was stolen, it is your resposibility to provide a police report proving that the vehicle was indeed stolen.
If you only carry liability insurance, that is all that the insurance company is liable for in this state.
It's standard procedure for an insurance company to investigate any and all claims made by it clients to insure any fraudulent activity is not occurring. For example they want to make sure that your car was 'legitimately stolen" and that it is not been illegitimately asked to be taken or possibly hidden just to receive the insurance money.
It depends on what insurance you're talking about, does it include theft?
A campus would not be liable if a vehicle is stolen so they do not have coverage for this.