What is the cost of car theft?

Insurance deductibles is not the only cost for car theft. Though you have to admit that it just doesn't seem fair that when your car is stolen you have to pay the deductible. Yes, it's better then buying another vehicle but hey, you didn't steal the car!

There are far greater costs involved in car theft. We're not talking about the policing costs when an investigation occurs. Nor are we talking about the time lost from work for the victim. What we are talking about is the danger that a car thief poses to the general public.

When the police chase a stolen car it can often end up in a crash situation. A high-speed chase does not usually end without some sort of damage occurring.

That same high-speed chase puts everyone in the area at risk. It's bad enough that there are drunk drivers on the road. It doesn't help that many of the worst drivers who have suspended licenses are driving. Now you've got the cops chasing the bad guys through your neigbourhood.

So be careful where you park your car. Set your alarm. Do not leave valuables in the vehicle that will make your vehicle more attractive to a thief. Lock your door and if you park in a garage, shut and lock those doors as well.

Insurance help

Be sure that you carry at least Specified Perils coverage on your vehicle, even if it is an older model. The older it is then usually the cheaper the price. The insurance will help you with impound fees, towing charges and possible damage or restoration of your vehicle if repairs or replacement is required. This is usually not considered a claim that affects your rating though you could lose a claims-free discount with some companies. Talk to your agent or broker.