Jsut curious, when ur car is stolen (expecting you have theft) how much does insurence pay you back for? Getting an R and just wondering how the whole stolen thing works.


Modified by Dr. ***** at 10:56 PM 10/17/2006

 

Depends on your policy and situation. No insurance company will be the same so nobody can answer this for you except your agent.

Insurance usually pays the value of the car. They WILL NOT pay for any modifications you may have done unless you add those parts to your policy seperately and get pictures taken of them as well as maintain receipts. Some insurance companies don't even do this at all due to the hassle/dollar ratio.

When my car was stolen AAA paid me 22K and let me buy back 90% of the car in pieces for 1K. I faired better than most because I had Lojack, even though it didnt work properly. Basically if your car gets stolen and you have no proof that you didn't steal it they will try and shaft you. Honeslty there is so much insurance fraud these days I don't blame them for thinking we stole our own cars.

So I suggest for your own protection you get some sort of GPS location device. AAA was very quick to pay out once they saw my car in pieces in someone else's garage.

I am positive that if it was not found, or was found just sitting on the street they would have taken much longer and would not have paid me as fairly.

Even my own friend who is an insurance agent told me that most insurance companies know how easy it is to scam them which is why they are paranoid. And he said someone with mechanical knowledge like me could easily have stolen my car myself and that he would have flagged it as suspicious.

Know what you are getting yourself into. Insurance companies are not as dumb as they seem and they have people getting paid pretty well to sniff out these situations.

 

I had one of my R stolen last year the amount is not important, but when approaching the insurance co. I had a private appraisal, list prices online, a value from Acura for resale value, and NADA. All of these valuse well above the price they offered me.......sorry they don't care it's just another car to them regardless of the rarity. How to prevent this from happening.......don't get it stolen to begin with. My other R stays parked in front of my civic and MDX locked behind my gate. Good luck with yours. Just be smart and enjoy.

 

it sucks because if you get a part stolen from your car...more then likely your insurance company will cover it....but if it's stolen along with the whole car you only get fair market value of the automobile.

 

Not nearly what it was worth. Was a battle to get anything out of em.

 

I have never had to go through this but have thought about it for a long time.. I would think something along the lines of getting the car appraised.. and the bigger issue would be giving that info to your insurance Now showing them your car is worth more than they thought will probly make your premium go up but atleast incase of a wreck or theft you both would have documentation on what the car is actually worth versus what they think it is.. i think it would be worth atleast calling your insurance company and seeing what you can do to make sure you are covered..

 

check out the new kelly blue book vaule saying the ITR is a collet. car now LOL