Yes, car insurance does cover theft of your vehicle – however, the type of coverage is key: liability car insurance doesn’t compensate for costs related to theft while comprehensive does.

Your insurer will pay the actual cash value (ACV) of your stolen vehicle less any applicable deductibles. If there’s still debt owing on it, consider gap coverage which covers any discrepancies between loan or lease balance and ACV.

Comprehensive Coverage

Car theft may have declined over time, yet it remains an ever-present risk for car owners. Luckily, comprehensive auto policies often cover such losses; details will depend on your policy.

Comprehensive vehicle coverage reimburses you up to the actual cash value (ACV) of your car minus any applicable deductibles should it ever be recovered and returned, accounting for depreciation or other factors which decrease its worth over time.

However, your policy won’t cover personal items taken from your vehicle during a break-in such as textbooks, laptops or electronics that should be covered under homeowners or renters policies instead. Although some insurers offer endorsements that cover personal property in your car as part of comprehensive coverage; other policies only cover items permanently installed such as premium stereo or GPS devices – theft of these is quite frequent, as thieves remove features for profit and sell them on.

Collision Coverage

Your answer depends on the type of coverage you carry. Liability insurance, the minimum requirement in most jurisdictions, protects against bodily injuries and property damages caused by an at-fault accident you cause; however, it does not cover theft or damage to your own vehicle, but comprehensive car insurance does.

Typically, when your car is stolen, comprehensive coverage will pay out its actual cash value (ACV), less the deductible. The ACV is determined using factors like age, condition and depreciation; in case this amount doesn’t cover your remaining loan or lease balance fully, consider adding optional rental reimbursement coverage as part of your policy.

Unless your comprehensive auto policy specifically covers them, aftermarket audio systems or trailer hitches likely won’t be covered if stolen. But you could add custom parts and equipment coverage as an endorsement that generally has lower limits than comprehensive coverage.

Comprehensive Insurance Deductible

With a properly selected deductible, comprehensive car coverage may help cover many costs related to stolen car theft. Repair costs and any actual cash value claims arising may also be covered if the car is never returned.

Depending on the circumstances surrounding its non-return, insurers will most likely classify your car as “totaled”, giving you a check for its current actual cash value less any applicable deductibles. If there’s still an outstanding auto loan balance remaining after receiving this settlement payment from insurance, however, a significant discrepancies could exist between what has been received from them and your loan balance.

Personal items stolen from your vehicle typically won’t be covered by your comprehensive car policy; however, homeowners, condo or renters policies may provide some coverage. Always consult with an independent agent before making a decision regarding adding this type of coverage in your policy.

Collision Deductible

Comprehensive insurance is intended to replace stolen vehicles or their parts and cover damage from vandalism or arson attempts (whether accidental or deliberate). Most insurers will reimburse you the actual cash value of the car less any applicable deductible payments.

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However, an ACV might not cover an outstanding loan or lease balance completely; gap insurance could help bridge this gap.

Be mindful that personal property in your car, like cell phones, laptops and textbooks is usually not covered by auto insurance. If these items are stolen, two separate claims will have to be filed: one with your auto insurer for the stolen car itself and a homeowners or renters policy covering personal items stolen in it. Remember that filing any type of claim usually results in higher monthly premiums; so consider your options carefully before filing one for your stolen car.