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Will your insurance company cover a stolen car if you left your key inside?
May 6, 2017
The short answer to this question is simply… Yes. Comprehensive (or Other than Collision) coverage explicitly covers Theft or Larceny, without any “ifs”. On the other hand, any auto insurance policy will contain a provision that speaks to fraud. A snippet from an ISO Auto Insurance policy, common to all 50 states in the US is below: If the insured Continue Reading
The short answer to this question is simply… Yes .
Comprehensive (or Other than Collision) coverage explicitly covers Theft or Larceny, without any “ifs”.
On the other hand, any auto insurance policy will contain a provision that speaks to fraud. A snippet from an ISO Auto Insurance policy, common to all 50 states in the US is below:
If the insured was complicit in a conspiracy to have the car stolen, all bets are off.
Check your policy. If an insurance company is to deny coverage for a theft because of the location of a key, an exclusion or language excepting coverage will spell it out in the Physical Damage Section (Sometimes referred to as Coverage for Damage to Your Auto) under the Insuring Agreement, Exclusions or General Provisions.
As Craig Anderson asserts, I have never read an auto policy that includes such an exclusion, nor have I ever heard of a loss such as described in this question, ever being denied.
This is no excuse for stupid behavior, but bottom line… your insurance company will cover a stolen car if you inadvertently left your key inside.
Originally posted at Quora.com: https://www.quora.com/Will-your-insurance-company-cover-a-stolen-car-if-you-left-your-key-inside
This article may have been originally published at Quora.com.
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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.
