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Jan '14

Car Thefts and Insurance Rates

According to the statistical data from the Federal Bureau of Investigation’s Uniformed Crime Reports one car is stolen every 30 seconds in the USA. This makes it a serious crime that requires large resources to tackle. Also, auto theft costs a fortune to insurers every year that affects the car insurance rates for every motorist.

auto theftThe likelihood of losing a vehicle to criminals is one in about two hundred, with the chances accelerating in urbanized areas. Over 1,000,000 automobiles are taken annually in the country. The Western states accounted for the biggest share of stolen automobiles recently with nearly 40%. If you lost your vehicle, report it to the authorities instantly and then call in a claim to your auto insurer.

Unfortunately, the figures are not bright for vehicle owners. Auto theft is probably one of the commonest crimes committed every year in the US, with California being the number one state for highest number of stolen autos.

Drivers have the choice of buying a comprehensive coverage that includes auto theft protection. If they live or work in an high vehicle crime area they shouldn’t take chances by ignoring this cover. For new car this is something you shouldn’t even think about and just go ahead with it. You have a large investment on your automobile and you want to protect it.

Unfortunately, the figures doesn’t help when rates are determined. Car insurance companies will have to charge the costs of paying these claims back to motorists. If you had a theft claim recently, you will see considerable increase on your premium at the next renewal.

The whole automobile does not have to be nicked for it to be considered a theft. Parts of automobiles can be taken like airbags, sound system, wheels and other parts. Some insurance firms will be offering their clients a reduction on their auto coverage if they install anti-theft protection devices in their cars. Some others will charge more if you are living or working near high crime areas.

When you notice an increase on your premium you should look around for better quotes. The increase may be related to high sums of claims in the last a few years. Or it may be that your current provider wants to make more money now. Remember that you have options available to you in the way of other companies.

If you own a vehicle that is one of the models that is stolen very often across the country you may have to pay higher premiums as well. Those automobiles include the 1994 Honda treaty, 1995 Honda Civic, 1989 Toyota Camry, 1997 Ford F-150 Series Pickup, 2004 Dodge Ram Pickup, two thousand Dodge Caravan, 1996 Jeep Cherokee/Grand Cherokee, 1994 Acura Integra, 1999 Ford Taurus and the 2002 Ford Explorer.

If your car or parts of your automobile are stolen, your auto insurance costs will rise. If you’ve got comprehensive coverage in your policy you are entitled to compensation. Your premiums won’t permanently stay at a raised rate and should fall back to their standard rate over a period of three years. This should offer you some sort of relief.

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