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Monday, Sep 26, 2022
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Insurance

Theft Coverage

Theft Coverage

Your car is new, and therefore can be quite a sweet tooth for “thieves”. Of course, the better (or more expensive) the car, the more risk there is of being robbed. And we are not just talking about them taking the car, but that they can open it and take some of its accessories, such as the radio equipment; or that your wheels are stolen; or even that you are covered in the event of theft or attempted theft that has caused damage to the bodywork or upholstery.

The truth is that the theft of a new vehicle is more common than that of an old one, so including this coverage in your new car insurance will be a smart decision, and more considering that it does not suppose a significant increase in the final price of the policy.

From there, when you compare insurance, pay special attention to the services offered by this coverage. For example, almost all companies will cover vehicle damage due to theft or attempted theft. However, in the case of total loss (total theft of the vehicle), and although most insurers will offer the value again during the first two years, it is possible that some compensate with the market value (lower) from the second year. Likewise, an important aspect to take into account is whether the service includes coverage for non-series accessories since many times these must be detailed in the policy and their coverage will mean an increase in its price.

Fire Coverage

In this case, unlike in theft, the fact of being a new car does not incur a greater risk of loss. However, contracting it is just as convenient since the money to be recovered in the event of an accident is much more important than the slight increase in price that includes the coverage in the policy.

This means that, in the vast majority of cases, since it is a new vehicle, the insurer will compensate you for the new value in case of partial or total damage. If you do not have this coverage contracted, if you have the misfortune that your car is affected by a fire without a third party assuming the fault, your insurer will not be responsible and you will have to bear the repair costs yourself.

Again, you must bear in mind that even if you have purchased coverage, many companies will not cover non-series accessories that have not been specifically declared at the time of contracting the insurance.

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