My car was stolen the other night, its a leased car, so i have full coverage. Im worried that I might get it back with damage, since it has happened in my neighborhood before. If the car is found without knowing who stole it, with damage, am i still responsible to pay my deductible for any repairs that may need to be done?
2007-01-21 17:21:38 · 12 answers · asked by chad m 2 in Cars & Transportation ➔ Insurance & Registration
Have you ever sat down and read your Policy ???
As a Lease Car you might also be up for other fee's that your insurance doesn't cover on a Lease Car. Even if its not recovered.
If you get the car back or not, your responsible for your contract for the Lease and Insurance to the Car for the Contract.
Make sure you read all the fine Print. If you get the car back you'll be up for the Deductible and anything not covered under your policy.
Good Luck with that.... Read or Lease and your Policy....
...
2007-01-21 17:33:57 · answer #1 · answered by Spinner...428 6 · 0⤊ 0⤋
Yes, you are responsible to pay for your deductible. Consider purchasing an insurance policy with $0 deductible next time although it will drive your premiums up a bit. Getting an insurance policy with a high deductible keeps the premiums down and it's all fun and games until someone loses an eye! (or a car, in this case)
2007-01-22 11:05:14 · answer #2 · answered by rob1963man 5 · 0⤊ 0⤋
Of course you are responsible for the deductible to get it fixed if it is found.
You say it is a "leased car so you have full coverage"...you might want to check that. Many insurance policies don't cover theft, or cover it fully...you might owe a deductible there too.
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2007-01-21 17:25:10 · answer #3 · answered by non_apologetic_american 4 · 1⤊ 1⤋
If it is a leased car, then you definately have theft coverage because the leasing company requires it. You WILL be required to pay your deductible whether or not the find the car.
Good luck.
2007-01-22 02:03:11 · answer #4 · answered by NY1Krr 4 · 0⤊ 1⤋
This falls under your comp coverage and your deductible will apply. That's your agreement with you....you will pay your deductible, the insurance pays for damage OVER your deductible.
2007-01-22 13:55:30 · answer #5 · answered by bundysmom 6 · 0⤊ 0⤋
Aw! How terrible! Yes you are still responsible to pay deductible for the repairs. Good luck! :)
2007-01-21 17:24:25 · answer #6 · answered by Alex 4 · 0⤊ 0⤋
My vehicle was stolen from me, I reported it to the police. I then reported it to the insurance immediately. They sent a check, I sent the registration and title. Low and behold 2 weeks after I reported it stolen, , three days after I had the check in hand, it was recovered. I told the police the vehicle was now owned by the insurance company and let them deal with it. It's been 5 years. Once the vehicle is signed over to the insurance, it's theirs!
2007-01-21 19:11:20 · answer #7 · answered by phantom 2 · 0⤊ 1⤋
Not if you reported it and make sure you get a copy of the police report! Make sure you take a copy to the insurance company and talk with them. They will let you know what is or is not covered in your policy. Good Luck!
2007-01-21 19:03:02 · answer #8 · answered by LSD 4 · 0⤊ 0⤋
I hope your car is insured. If so, you can claim it and then get it fixed before turning it back in. Read your lease contract or talk to your customer service where your lease is held and ask them...
2007-01-21 17:25:23 · answer #9 · answered by Elise 2 · 0⤊ 0⤋
The insurance company pays for the tow and other related expenses, and the adjuster will go out and see what the damages are. It could STILL be a total loss - but if not, the insurance company will pay to have a duplicate title issued back to you.
2016-05-24 13:45:40 · answer #10 · answered by Anonymous · 0⤊ 0⤋