Will my car insurance go up after theft?
Asked by: Morgan Dicki MD | Last update: September 2, 2025Score: 4.7/5 (71 votes)
Does car theft raise insurance rates?
Automobile accidents
All these crashes cost the insurance companies a lot of money, and that cost was passed on to consumers. Car theft has also skyrocketed, raising insurance rates even more.
What happens with insurance when your car is stolen?
Yes, if you have comprehensive coverage on your policy, auto insurance can help pay for your stolen vehicle if you don't recover it. Depending on your policy, you may also have coverage for custom parts, paint, rims, and other aftermarket additions.
What kind of claims make your insurance go up?
Filing an insurance claim can have long-term ramifications, such as a hike in your premium or difficulty in switching providers in the future. Certain types of claims, such as dog bites or slip-and-fall incidents, can have a significant impact on your rates and may even disqualify you from coverage with some carriers.
How does insurance determine the value of a stolen car?
Insurance companies generally use your car's ACV to determine whether it's a total loss after an accident. If you have comprehensive or collision coverage, most auto insurance policies will also largely base your payment on the car's ACV after it's totaled or stolen.
What happens after your car is stolen | Tips & Tricks
How much money will I get if my car is stolen?
If someone steals your car and you have comprehensive coverage, your insurance provider will pay out based on your vehicle's actual cash value. This doesn't mean they give you the amount you paid for your car. Instead, they pay out the cost to replace it minus depreciation.
Will insurance total my car if it was stolen?
If the car is not found within 30 days, the insurance company will usually decide it's a total loss and pay you the actual cash value. It's the amount your insurance will pay if your car is totaled or stolen.
Will a small claim affect my insurance?
Many assume that only major claims affect premiums, but even minor claims can lead to increased rates. In fact, it's often the reporting of an incident, rather than the insurance claim itself, that triggers higher premiums.
What is the best insurance for car theft?
Comprehensive insurance usually helps cover theft of the car itself, stolen car parts or damage caused by a break-in (such as broken windows or damaged door locks). Comprehensive coverage is typically required by your lender if you're leasing or financing your vehicle.
What happens when someone steals your car?
After you've filed a report with the police, the next call you need to make is to your insurance company. They will guide you through the process of filing a claim. Be prepared to provide them with information such as your policy number, the police report number and any other relevant details they may require.
Do you have to pay a deductible for theft?
The market value of your vehicle is what it was worth at the time it was stolen, not what you initially paid for it. With Comprehensive, you would also need to pay a deductible before your insurance pays out.
How does car insurance work with theft?
Comprehensive coverage will usually cover theft, as well as repair costs from break-in damages. Liability insurance likely won't cover theft, as it usually protects against bodily injury and property damage resulting from an accident.
Can you report a car stolen if the person is on the insurance?
ANSWER: The answer to your question is yes. If the vehicle is titled in a person's name, no matter whether they make the payments or not, they can report the vehicle as stolen. I hope this information helps you. Please let me know if you have any other questions or need further clarification.
Will a theft claim raise my homeowners insurance?
After you file a home insurance claim, it's possible that your premium will increase when your policy renews. If you file one claim, your insurance company may see you as likely to file another in the future. To offset the cost of that potential claim, your insurance company may charge you more for your policy.
Will my insurance go up if I don't make a claim?
Will my car insurance go up after an accident? Unfortunately, the simple answer to this is yes. Whether the accident was your fault or not, making a claim will usually lead to an increase in your car insurance premium the next year and you could see an increase even if you don't make a claim.
Is it worth going to small claims court for $500?
Conclusion: Going to small claims court may be worth it for $500, but it will determine how you weigh your costs versus benefits. At a minimum, it is worth it to send a demand letter.
What is the downside of filing an insurance claim?
It could increase your premiums
When determining your premiums, insurance companies consider your likelihood of filing a future claim — which could cost them money. The higher your perceived risk, the more likely you are to pay more in premiums. Your claims history tends to play a direct role.
Will Geico raise my rates after a claim?
With Accident Forgiveness on your GEICO auto insurance policy, your insurance rate won't go up due to your first qualifying accident. We waive the surcharge associated with the first at-fault accident caused by an eligible driver on your policy. GEICO Accident Forgiveness is per policy, not per driver.
Why does my car insurance keep going up with no accidents?
Car insurance rates can sometimes increase unexpectedly, even without being involved in an accident. This can be due to different factors, such as changes in the insurance company's rates, adjustments to your policy, or even external factors like inflation or rising repair costs.
Will my insurance go up if I have protected no claims?
No-claims bonus protection is an optional add-on to your car insurance policy. With this protection, you can make claims without affecting your no-claims bonus. Having no-claims bonus protection doesn't guarantee your car insurance premium won't increase after a claim.
Does insurance go up if car is stolen?
Claim History: If you have filed claims in the past, adding another claim for a stolen vehicle could be seen as increasing your risk profile, which might lead to higher premiums. Insurance Coverage: The type of coverage you have can also play a role. Comprehensive coverage is what typically covers theft of a vehicle.
Should I tell my insurance my car was stolen?
If your car is stolen, you should file a claim with your insurance company. As long as you have comprehensive coverage, vehicle theft should be covered. If the car is later recovered after the claim has been paid, it's the insurance company's property.
Is it worth buying a theft recovery car?
Dealers make money on “Theft Recovery” vehicles by making cheap repairs, hiding damage, or selling the vehicle with missing parts. Never buy a Salvage/Junk/Rebuilt vehicle, even if it was a “Theft Recovery.” Many insurance companies will refuse to insure a Salvage/Junk/Rebuilt vehicle.