Theft coverage is a very common guarantee when contracting car insurance. Even though the number of stolen cars has dropped considerably in recent decades, the figure is still worrying. According to data from Unespa and the Ministry of the Interior, between 2007 and 2012 an average of 50.000 vehicles per year were stolen.
What is theft coverage?
This guarantee provides the insured with compensation in the event that their car is stolen. Theft coverage is an optional coverage that can be included in auto insurance. Normally, insurers offer it within a package of extended coverage that also includes the vehicle's fire guarantee. In addition, the All Risk coverage includes vehicle theft.
Depending on the type of theft, compensation will be different. Companies distinguish between total theft, partial theft, and attempted theft. The particular and general conditions of the contracted policy will determine the compensation criteria in case of theft. For this reason, it is important to have the appropriate advice to hire the best coverage for your vehicle.
When to contract the theft guarantee in car insurance?
When determining whether it is convenient to contract the theft guarantee in our car insurance, certain factors must be taken into account: characteristics of the car, time spent on the street, if the place where you usually park is a conflictive area , or if the vehicle is new. In any of these cases, it is advisable to take out the theft guarantee.
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