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Would one be required to pay off a note on a stolen vehicle when they had full coverage insurance as well as Gap coverage?
Quantumvp
this question has dual legalities each reasonable in it's jurisdiction. Firstly, the act of vehicle misuse by the act of theft is not covered by any insurance clause i.e, non gave permission for the vehicle to be misused. It only gave protection for remuneration/indemnification should the vehicle is stolen to the owner or to a third party on the event of an accident .
secondly, ways of discouraging theft acts is enterly an issue for the police pursuant to the local laws and has nothing to do with insurance cover policy.
However, note that these answers are only for situations where the vehicle owner is not the thief but another caught by the police and is being cahrged to pay a bill or two.
As for the owner of the vehicle, who as at the time of recovery of vehicle must have pre-reported it's theft to the police and obtained a statement which is forwarded to the insurance firm. where this is the case then, there is not need to be surcharged for the stolen vehicle now recovered.
since it is assumed a full premium has been paid for the policy cover against such event occurring.( You may take out the insurance policy document( proposal form ) for that risk cover and re-read the little prints again to be more sure of your rights against such surcharge.
-lawstudent-
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∙ 12y ago
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What happens to your title loan if your vehicle is stolen and wrecked?
Since you have a loan you should be required by the lender to have full coverage insurance which will pay you the value of the vehicle. With out insurance you are still responsible for repaying the loan no matter what happens to your vehicle. It is not the lenders fault your car was stolen and wrecked...
Does liability insurance cover a stolen car?
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.
Who pays for your stolen vehicle?
If you have comprehensive coverage on your vehicle, that is the coverage that will pay for your stolen vehicle.
Do colleges have insurance to cover stolen vehicles on their campus?
A campus would not be liable if a vehicle is stolen so they do not have coverage for this.
Does auto insurance cover stolen cars?
Auto insurance will cover the theft of your vehicle if you maintain comprehensive coverage. Comprehensive coverage is generally sold in conjunction with collision coverage. However, unless there exists a lender that requires collision/comprehensive coverage, it is usually not mandated by law as it is considered "first-party" coverage (designed to protect the owner only). Comprehensive coverage also applies to the theft of belongings in the vehicle if they were permanently affixed to the vehicle. For example, if you have an after- market stereo system and sub-woofer that is stolen from your vehicle, it is covered under comprehensive coverage. However, if you leave your purse in the car and it is stolen, it is not covered because it is not permanently affixed to the vehicle.
What if car is stolen and you have full coverage?
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.
Will homeowner's insurance cover a stolen car?
The simple answer is NO. Homeowners policies will specifically exclude any vehicle licensed or intended for road use. To get coverage you will need to have Comprehensive coverage on your auto insurance policy.
If a vehicle is stolen and is only covered by PLPD will the insurance company pay for the loss?
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.
Can you file a claim with your insurance company if your car is stolen and there is a lien on it?
If you maintained "comprehensive coverage" on the car, absolutely. This differs from collision coverage in that collision coverage is triggered by a physical impact to the vehicle and resulting damage. Comprehensive covers a broader range of occurrences. The lien holder is likely to have required you to maintain comprehensive and collision coverage in order to protect its security interest in the vehicle. That is, the insurance provides some assurance that the lien will be satisfied from the insurance proceeds. In that respect, the lien holder likely required that it be named as a "loss payee" on the policy, so any settlement will be paid jointly to you and to it.
Does homeowners insurance cover a stolen uninsured vehicle?
No. Homeowners insurance specifically excludes all coverage for any 4-wheeled self propelled vehicle with few named exceptions like a lawn mower. The only coverage that would cover this loss is if you have an auto policy with physical damage coverage on the policy.
Does theft of personal items from your auto vehicle affect your insurance rates?
depending on what coverage yes it can, my cosine got his wallet stolen from his car and it did
Does automobile insurance cover items stolen from an automobile?
No. Auto insurance will only cover the vehicle and items that came installed standard on the vehicle. You can, however make a claim on your homeowners insurance for other items stolen from your vehicle. Homeowners insurance gives you coverage for items off premises up to 10% of your contents coverage on the policy. This is to cover situations like this, thefts or damage while on vacation, and even dependent children's items while in a dorm room. The biggest problem is that you will have a deductible for damage to the car and another deductible for the items stolen and covered on the homeowners policy.
