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What Does Insurance Do After Your Car is Stolen?
June 20, 2016
What Does Insurance Do After Your Car is Stolen? After a vehicle theft, the insurance company will expect there to be a police report and will follow their investigation of the the circumstances surrounding the claim. That will include an effort to recover the vehicle. How long does the investigation process take before it's considered a loss? The time it Continue Reading
What Does Insurance Do After Your Car is Stolen?
After a vehicle theft, the insurance company will expect there to be a police report and will follow their investigation of the the circumstances surrounding the claim. That will include an effort to recover the vehicle.
How long does the investigation process take before it's considered a loss?
The time it takes to investigate a vehicle theft will depend on the what’s on the local police docket. The time can be a few days to a few weeks. Longer if there are extenuating circumstance.
During the investigative phase, the a client can help in one way… be responsive and cooperative with both the insurance company and law enforcement.
If it shows up how do I figure if there's any mechanical damage not immediately present? I don't want to drive for 6 months and engine blow out and insurance say it's my fault on a almost new car.
A complete review of the vehicle’s condition should be part of the claim process or at least agreeable to any reputable insurance company. That effort should include a complete engine and drive-train diagnostic review.
If the car has been compromised by damage to the exterior, interior or in any way mechanically, your comprehensive coverage should respond to that damage.
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“Am I covered if I drive someone else’s car?” Or, “Am I covered if someone else drives mine?”
Many don’t realize that the insurance industry is one of the country's most regulated business segments, especially in New York State. The New York State Department of Financial Services (NYS DFS) wields significant control over the insurance business and has a stated goal of protecting consumers.
Most property insurance companies offer Actual Cash Value or Replacement Cost settlement options. Typically, insurance companies will require that you insure the property to the settlement value you choose. If you select Actual Cash Value, the amount you may be required to insure the property for will be less than the corresponding Replacement Value.
In that spirit, the Ryan Agency is sponsoring a Stearns BBQ Dinner pickup at our office on 57 Broadway Mall in Hornell on September 12th from 3:00 PM to 4:30 PM.
Today, an individual’s credit history can play a more significant role than any one of those traditional factors. Good Credit Scores lead to a Positive Insurance score. A good Insurance Score greatly influences what someone will pay to insure their vehicles.
Insurance companies offer various discounts for which their policyholders may qualify.
Great Eight number Six (6) suggests taking a look at removing Comprehensive and Collision on Older Vehicles.
By reducing the number of claims in your insurance history, you can significantly affect your rates in the future.
Sometimes, this concept meets with resistance from policyholders. The thought of paying more in the event of a claim is off-putting to some. Even if that means I pay more for my insurance.
OK. Admittedly, this strategy doesn't benefit everyone, but it can be very beneficial for those it does. You may have unique home or auto insurance needs that prevent you from bundling with the same company. Alternatively… you might have a better rate without the bundle discount by splitting up your insurance between multiple carriers.
