Car theft insurance is the insurance you need to make sure that your car and its contents are protected in case of theft. Some people might consider this a trivial matter but it is not. You do not just protect your car when it is parked in a garage. In fact, you should protect your car even while it is parked in a mall or a public parking lot. Here are some of the most important facts about car theft insurance.

A car that is stolen will lose a large amount of value as well as its actual physical structure. In some cases, yes, even the door locks and the ignition system will be replaced. Having more than one security system for your car can also help in keeping your car safe. However, having full coverage car theft insurance will reimburse you for all damages that your car undergoes during an unfortunate incident such as vandalism, collision, wind damage, theft, etc. Furthermore, if your car is vandalized, then your car should also be covered for the damages caused to its body, its paint job, its engine and so on. Similarly, if your car is stolen, then you will also get compensated for the stolen personal effects of the driver of the car as well as the vehicle’s registration and plate number.

There are different types of car theft insurance available in the market. One of them is liability cover theft insurance, which is meant for the people who use their vehicles for business purposes and carry other persons with them. In fact, it covers only the damages incurred to properties that are inflicted as a result of vehicle collisions. In addition, the liabilities incurred by the passengers in the vehicle as a result of injuries will also be taken into account in this regard.

On the other hand, comprehensive car theft insurance will also come in handy whenever you meet accidents. This coverage basically involves all the damages that are incurred to the vehicle due to events like collisions, fire, storm, etc. However, this kind of insurance does not provide coverage for your personal health or life in any way. You will have to obtain comprehensive insurance from a specialized provider.

There are some circumstances under which a comprehensive car insurance cover theft will not cover all the losses. If the stolen vehicle has been restored or repaired at a workshop, then you will not be able to claim for the damages. For this reason, the coverage will be calculated on the normal market price of the vehicle that was stolen. However, if the same vehicle has been modified subsequently, then you can apply for specialized car insurance cover theft.

The prices of both liability and comprehensive car theft insurance will vary from company to company. Since this kind of coverage comes with various discounts, it is advisable to shop around before deciding on one particular provider. Make sure you understand every aspect of the agreement before signing on the dotted line. You may get comprehensive coverage for a lower price, but you may have to pay extra for liability coverage, especially in the case of a lawsuit. Therefore, it is always advisable to check everything very carefully.

The collision car theft insurance protects against damage due to collisions with other vehicles and it covers only your car in case it is damaged by a falling vehicle or a collision with an object. It does not have coverage for your car in case it is stolen. If you want to protect your car and other belongings against damages due to flooding, fire or storm, then you should purchase the flood insurance. Comprehensive coverage on the other hand, provides coverage for your vehicle in the event that it is damaged by storms, vandalism, theft, vandalism, riots and civil disturbances.

When searching for a cheap car theft insurance policy, it is important that you find a provider that offers the right amount of coverage for a reasonable price. Make sure you read the fine print carefully so that you understand what you are covered for. Also, you need to check if you need to make any claims before the insurance company makes a payment for your claim. This will save you from unnecessary tensions.