My car was recently stolen and has yet to be recovered. When I file a claim with my insurance on this matter, will it make my rates go up??
2007-06-12 06:15:13 · 10 answers · asked by Matt T 1 in Business & Finance ➔ Insurance
No it won't!! It's like hitting a deer, its not your fault. Regardless if you left the keys in it or not, it got stolen. The only thing you have to pay is your deductible if it gets crashed and need to fix it (only if you recover it). The only problem is to getting the money from the person that stole the car. IT will be hard to get paid back because you have to go through the court system(sue) and it's just easier to pay the deductible rather than spending hundreds of $$$ for a lawyer.
2007-06-12 06:31:22 · answer #1 · answered by IOWA HAWKEYES 5 · 1⤊ 0⤋
I work in corporate compliance at an auto insurance company. In most states, it is against state law to uprate for not-at-fault accidents and theft is considered not-at-fault. In some states they may drop your claims free discount.
At some companies, if your policy is reviewed for claims history, deemed a high risk (multiple claims paid out, regardless of fault, making it an unprofitable account) your policy may get flagged for non-reinstatement meaning if you miss a payment or are late past say a 10 day window, they will not accept your late payment and cancel you for non-payment.
2007-06-12 07:52:18 · answer #2 · answered by Anonymous · 0⤊ 1⤋
These days, it seems to matter not whether or not you were at fault regarding a payout made from your insurer. If this is your only claim, you probably will not get a rate increase. If you have repetitive claims (your fault or not) expect to get either an increase or a cancellation.
Insurers are not in the business of losing money, if they can help it.
2007-06-12 06:44:25 · answer #3 · answered by acermill 7 · 0⤊ 2⤋
It depends on your state, your insurer, and your past history. Carriers use many different ways to determine rates. As previously mentioned, you could have a loss free discount that might go away. Without knowledge of the carrier and their underwriting tables, no one can say.
2007-06-12 08:47:28 · answer #4 · answered by Phil 5 · 0⤊ 1⤋
you do no longer extremely ought to purchase an coverage plans; be sure with the state in which you storage the vehicles how lots must be saved in an escrow account to self-insure (it will be the state minimum; everywhere fron $5000 to $a million million) howdy, start up your individual organization! i will come artwork for you! ( :
2016-10-17 00:57:52 · answer #5 · answered by fauntleroy 4 · 0⤊ 0⤋
Theft is considered a comprehensive claim, so no, your rates should not go up.
2007-06-12 06:44:31 · answer #6 · answered by My Pits A Lover Not A Fighter 5 · 1⤊ 1⤋
After this is all over set down with a list of questions like this and get you answers ahead of time.
2007-06-12 06:23:27 · answer #7 · answered by Anonymous · 0⤊ 2⤋
Was the keys in the car? Was it left unlocked? If not, then I don't see how they can hold you responsible in any way . If you did, I'm afraid they can use that against you. Good luck.
2007-06-12 06:21:39 · answer #8 · answered by DOT 5 · 0⤊ 2⤋
No, however, it WILL count against you for "rating tier" placement. It is NOT surchargable.
2007-06-12 06:51:48 · answer #9 · answered by Anonymous 7 · 0⤊ 2⤋
Oh ok... i found this for you...
better check on it, im pretty sure you'll discover something useful...
http://www.myautoinsurancetips.com/
2007-06-13 10:00:59 · answer #10 · answered by Anonymous · 0⤊ 2⤋