Auto Insurance
5 min read

Does My Car Insurance Cover Theft?

Published on
October 27, 2022

If you've ever had your car stolen, you know just how traumatic the experience can be. You also have to worry about all of the personal belongings you lost that were in your car. And though it's a frightening experience, finding out that your car insurance policy covers theft may be one bright spot in an otherwise horrible situation.

Most car insurance policies cover vehicle theft, but the specific terms and conditions of your coverage will depend on the policy that you have chosen. Keep in mind that even if your policy does cover theft, any personal belongings that were inside the car when it was stolen won't be covered depending on the terms provided by your insurance provider.

Which type of auto insurance coverage covers theft?

When it comes to the specific type of coverage you need to cover the theft of your vehicle, there truly is only one type that you need. Comprehensive coverage protects you if your car is stolen.

This also includes damage caused by natural disasters, such as a tornado or hurricanes. Collision coverage is usually required to have comprehensive coverage and it will help pay for any repair costs on your car if it's damaged in an accident. It will help to pay for the repairs or replacement of your car if it is stolen. Liability coverage will not provide this type of protection or cover the costs of a stolen car.

Does car insurance cover the theft of my personal items?

Your car may be covered in the event of a theft, but your personal belongings likely are not. Even if you do have comprehensive coverage, there are typically limits on how much protection you have.

Most homeowners or renters policies cover theft of your personal property. In most cases, this includes theft of items from the vehicle even if it is parked in a public place. As with any insurance policy, it is important to read the terms and conditions carefully to make sure you are aware of what is and isn’t covered.

If your personal property is stolen from your car, you will likely need to file two separate insurance claims. One should be made to your car insurance company for the damage to the car itself and another should be made to your homeowners or renters insurance company for the value of the stolen items inside the car.

What’s the average cost of a car theft in America?

In 2019, victims of motor vehicle theft lost a total of $6.4 billion. There were 612,187 reported motor vehicle thefts throughout the year, meaning an $8,886 average loss per vehicle. In 2022, the average cost of car theft in America was even higher.

Using data from the FBI and the National Insurance Crime Bureau, we analyzed the state of motor vehicle theft in the U.S. in 2022.

Here are our key findings:

  • Motor vehicle theft increased by 10 percent from 2019 to 2020, despite an overall decrease of 62 percent in the past 30 years.
  • The national average for motor vehicle theft is 246 incidents per 100,000 people (that being 0.25%).
  • The average dollar loss per stolen vehicle was $8,886 in 2020.
  • Colorado is the biggest state for auto theft, with 524 motor vehicle thefts per 100,000 inhabitants. This makes auto theft 53 percent more likely in Colorado than the national average.
  • The biggest city for auto theft is Bakersfield, California, with 905 thefts per 100,000 inhabitants, which is 75 percent higher than the average rate for MSAs.

It's important to be aware of the average cost of car theft in your state and take the necessary precautions to protect your vehicle. Car insurance is one way to help offset the costs associated with car theft.

Ways to prevent your car from getting stolen

Protecting your car from theft is important and there are several necessary precautions you should take.

Here are a few tips to help you maximize your protection from theft:

  • Park in a well-lit area. Thieves prefer to work in darkness, so parking in a well-lit area will make it less likely for them to attempt to steal your car.
  • Use a steering wheel lock. It's inexpensive and easy to use, and it can be attached to your steering wheel in just a few seconds.
  • Install an alarm system. It will notify you if someone is trying to steal your car, and it may even scare away potential thieves.
  • Use a tracking device. A tracking device is a small device that can be hidden in your car. If it's ever stolen, you can track its location using GPS technology.
  • Keep your car locked at all times. This may seem like common sense, but many drivers don't bother locking their cars when they're not driving them. Make sure to always lock your car when you're not using it and avoid leaving valuable items inside the vehicle.

And in the event your vehicle is stolen, you should always file a police report. It's important to take precautions to protect your car from theft. Following these tips will help you deter thieves and keep your car safe.

Where to find affordable anti-theft gadgets you can buy for your car

One way to help protect your car from being stolen is to purchase and install an anti-theft device. Here are some tips on where to find affordable anti-theft gadgets you can buy for your car.

Check online stores

One of the best places to find affordable anti-theft devices is online. There are many online retailers like Amazon that sell devices such as wheel clamps, steering wheel locks, tracking devices and more. Be sure to read customer reviews to get an idea of the quality of the product before making a purchase.

Look for discounts

Many retailers offer discounts on anti-theft devices, so it’s worth checking the manufacturer websites directly or calling ahead to ask about any current promotions. You may be able to find a coupon code to use at checkout, which can save you even more money.

Check newspaper ads

Local newspapers often have ads for retailers selling anti-theft devices. These can be a great way to find a good deal on the device you’re looking for.

Get More Car Insurance Info

At LOOP, we are committed to providing our customers with the information they need to make informed decisions about their car insurance policies.

We also offer a variety of tips and resources to help protect your vehicle from theft. Be sure to visit our website and check out our credit calculator. You’d be pleasantly surprised to see how much you can save on car insurance when your credit score isn’t factored into your rating.

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