Is there a way an insurance company could assist with a vehicle that was stolen while parked in company grounds.
Free Insurance Quote Comparison
Secured with SHA-256 Encryption
UPDATED: Nov 15, 2012
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.
Insurance Question from Barrigada, GU
Asked on 11/15/2012
Is there a way an insurance company could assist with a vehicle that was stolen while parked in company grounds. NULL
Answer given on November 29, 2012
If your car was stolen from any property, and you have comprehensive coverage on the car, the insurance compamy will work with you to settle the claim on your car. The insurance company really can’t assist with finding the car. That would be up to the police. Presumably you have reported this to the police, as the insurance company will want you to do so. The comprehensive coverage does have a deductible, but any value to the car over that will be a part of the settlement with the insurance company. They will also help you with a rental car while settling the claim. However, the insurance company will not settle the claim until the car is gone for a minimum of 30 days, or is recovered by the police. the value of the car will be settled based on the actual cash value of the car at the time of a loss. If you had updated items on the car, you need to show proof of this to get the value of the add-ons.
IMPORTANT NOTICE: These answers are for general information purposes only and are provided by the person answering and FreeAdvice.com AS IS. It has not necessarily been reviewed by the management staff of FreeAdvice.com nor is it binding any insurance agent, broker, or other insurance professional or any attorney or insurance company. Insurance laws, regulations and practices vary from state to state and insurance policies and practices differ from company to company, by type of policy, by state and locality and by type of insurance. Tiny variations in the facts, policy language or a detail not set forth in a question often can change the outcome or a professional's conclusion. Although FreeAdvice.com has confirmed that the answer(s) was/were provided for the account of an experienced insurance professional, that professional may not be licensed in the state referred to in the question, and may not be experienced or up to date in the subject area. Unlike the answers provided here, upon which you should NOT rely, for personal advice you can rely upon we suggest you consult a licensed insurance professional in your area or retain a licensed attorney listed on AttorneyPages.com to represent you.