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How long does it take for the insurance company to process a claim for a stolen vehicle?

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2015-07-15 19:27:43
2015-07-15 19:27:43

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.

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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.

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I think that your insurance covers the items that were yours that were stolen, and the company's covers the car damage.

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You should report the theft immediately to the police and to the car owner's insurance company.

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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.

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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.


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