It’s every driver’s worst nightmare to be the victim of car theft. While you can never prepare for such an event, having insurance against the financial loss of losing your vehicle provides piece of mind. But is cover against theft included as standard on all policies?
The answer depends on the type of cover you take out when getting car insurance. Cover against theft is included as standard on all Fully Comprehensive and Third Party, Fire and Theft policies. On the other hand, you would not be covered for acts of theft should you only take out a basic Third Party Only policy. Considering a recent poll revealed that only 4% of drivers have Third Party Only cover, the odds are pretty good that you are sufficient cover in place should you ever need it.
So, what should you do if you’re the victim of theft?
When you realise your car is gone, it is imperative to report the theft to your nearest Garda station as well as to your insurer’s claims department immediately. If you do not declare your vehicle stolen to the Garda Síochána as soon as possible, your insurance claim to recoup any financial losses arising from the theft may not be honoured. Following your report of the Garda, they will issue you with written documentation relating to the theft which must then be given to your insurer who in turn begins the claims process should the car not be recovered.