One fine morning you see that your car has a broken windshield, or a scratched paint job. It was a dandy morning until your car has been vandalized. You will be swearing and yelling outloud. After you have relaxed, you will be contemplating if your auto insurance policy will cover the damages caused by vandalism. If you are a young adult and an act of vandalism has struck your vehicle, then your insurance for young drivers should be able to cover the damages.
Certain car insurance policies do cover vandalism damage, but there are some conditions. To make an auto insurance claim, there are some actions that need to be taken by the policy holder.
Auto insurance covers vandalism, only if the policy is a comprehensive insurance policy. Not only does it insure your vehicle for vandalism, but also other types of damage like fire, flood etc. However, this might not be applicable in all states, or included as part of the default coverage within the policy.
Also, not all insurance plans will cover accessories damaged because of vandalism. Even comprehensive insurance does not cover vandalism done by relatives.
Deciding whether to purchase insurance, covering vandalism can be a tough decision. It is not a decision that is to be taken lightly.
Firstly, there is the premium. The premium will be determined based on a number of factors like the condition of the car, locality where you stay and more. The deductable you are ready to bear also counts. The higher the deductable you are willing to cover when claiming, the lower will be the premium and vice versa. In addition, if you file multiple claims, the premium might grow. The reason for this is because the insurance carriers may begin to view you as a high risk driver. As it relates to pricing, the general rule of thumb says that if the premium is a tenth of your car’s value or if the deductable comes close to the car value, there is no point in purchasing comprehensive insurance. The added risk protection does not merit the cost outlay.
Assuming you have purchased comprehensive coverage, and there is a vandalism incident, the following need to be done as soon as possible:
1. File a report with the police first. If possible, take snapshots of the damages.
2. Safeguard your vehicle. If there is a broken window, and water gets in, insurance can cover the window, but might not cover the destroyed seating cushions or stolen stereo.
3. After police investigation, move your car to prevent further vandalism.
4. Get an adjuster to evaluate the losses or what sort of claim category you fall into.
5. Check if it is worth the claim. At times it is possible that the deductable is almost covering the loss, so there is no point in going for the claim.
6. If filing, do it as early as possible. Some insurance companies have an online portal also for it. They might ask for police report number and other details like receipts of stolen items etc.
7. If the police investigation or the insurance claims department is able to apprehend the person responsible, it might happen that they may make him pay for the damage. In this case, you might even be eligible for recovering your deductible.
Regardless of which policy you purchase, the most important thing to do is to read all the clauses and conditions before purchasing the policy. You will save a lot of migraines and stress in the future by doing so.
The purpose of insurance providers is to provide protection to individuals in the event an accident occurs. If you operate a vehicle and are looking for car insurance in Ontario, you should find the lowest rates by doing an online comparison.