Vehicle owners rely on Car Insurance in Winston Salem NC to cover damage from collisions, storms, and vandalism. They also count on insurance to pay them for the vehicle if it is ever stolen and not recovered. One day the car disappears from the driveway or a convenience store parking lot, leaving the owners distraught and frantic. There’s another problem, too. The car had the keys in the ignition. Will insurance still cover the theft?
Coverage for Theft
Fortunately, most automotive insurance policies will pay this type of claim as long as the policyholder has comprehensive coverage. The policies typically do not have restrictions about keys in the ignition, in a cup holder or the glove box. Consumer experts strongly encourage vehicle owners not to keep their keys inside the car, but many do this at home or when only parking for a brief time at a store.
Relevant Statistics
The National Insurance Crime Bureau reports that more than 10 percent of stolen vehicles are easy pickings for thieves each year because the ignition key is right there. All they have to do is get in, turn the key and drive away. About half of the stolen vehicles are never recovered. Even though Car Insurance in Winston Salem NC pays for the market value or the Blue Book value, this may not be enough for the owner to buy a comparable car.
Value Considerations
An older model with high mileage might only be worth $1,500 according to insurance guidelines. The owner may have sunk a fair amount of money into this car to keep it in good working order. Trying to buy a good used car with that amount of cash will be a daunting effort. In some instances, the cash value is $5,000, but the person still owes $7,000 and is still responsible for those payments.
The best solution is to take protective action against vehicle theft by keeping keys out of the car when it’s not in use and locking the doors. The owner will still want to have comprehensive and collision insurance from an independent agency like Darst Insurance so that theft and other expensive issues with the car are covered.
