Imagine finishing shopping or an evening out or leaving your home to go to work in the morning and finding that your car is missing. Initially, you may wonder if you’re having a memory lapse and have forgotten where you parked, but as the cold reality and disbelief sink in, you realize you have a problem with none-too-small dimensions.

Don’t panic. First, contact your family members to verify if someone has borrowed your vehicle. If not, consider the possibility that it has been towed, so check for indications in the area for parking and towing information.

With all other possibilities exhausted, your car has most likely been Stolen. Breathe deeply and follow the following steps to get the situation under control.

1. Contact Your Local Police

Call the police and the sooner the better. The faster the police are aware of a missing vehicle, the more possibility there is of finding it. The NICB (National Insurance Crime Bureau) reports that an impressive 35% of stolen cars are found the same day they are stolen. 45% are recovered within 48 hours.

When you contact local authorities, have the following information ready:

• the car manufacturer, model, year, and color
• the car’s license plate number
• the VIN or vehicle identification number
• where you parked the car
• if the car has a GPS installed
• any distinguishing features on the car

2. Contact Your Auto Insurance Provider

Once you have alerted law enforcement, your next call should be to your Insurance Provider. Not all insurance policies cover theft of the vehicle. Only comprehensive insurance policies include stolen vehicle coverage. Minimum car insurance will not cover the loss.

Depending on your insurer, you may not be able to file a claim without a copy of the police report. Your insurance agent may also ask for information about any other family members or friends who had access to the vehicle and the whereabouts of all duplicate keys to the car.

Some policies may include stolen property coverage. If so, they will request a list of your personal property and a description of the property. These items should be included in your police report.

3. Contact Your Home or Renters’ Insurance Company

If you had property in your car such as a smartphone, tablet, laptop, or personal items, they will have been stolen along with your car. Auto insurance rarely includes personal property theft for items in a vehicle. Home or renters’ insurance often does. So, your best chance at reimbursement will be with this type of policy. Check your policy and make that call.

4. Contact Financial Institutions Involved

If you have taken out a loan to purchase your car or are leasing the car, call lenders to report the theft immediately.

You will also want to contact your bank or credit card companies if you left personal information and documents in your car. Your car registration will contain some personal information. Talk to your bank and the credit card companies about the possibility of establishing a fraud alert even temporarily.

5. Be Prepared

Most insurance providers will wait 2 to 3 days from when the car is declared stolen to process a claim. This is to allow for the possibility of recovering the automobile. During the waiting period, you will need to arrange and pay for alternative transportation. The only exception is if you have rental reimbursement insurance coverage.

Car theft does not usually translate into higher insurance premiums after a file is claimed. This is because you are not considered responsible for a stolen vehicle. You may, however, lose a claim-free discount if you had one.

In the Event of Car Recovery

Should you find your car, you’ll need to tell the police as soon as you find it. Should local law enforcement find it first, they will impound the car and inform you as to how and where to pick it up.

Call your insurance provider immediately. This is vital because if the insurer pays your claim and the car is found, the insurer is now the owner of the car. If you haven’t bought a new replacement, your insurer may allow you to repurchase it.

If stolen personal property is recovered, you will also need to inform any provider with whom you have filed a claim. Should your car be recovered while the claim is still being processed, examine it carefully for missing or damaged parts and verify that it is safe to drive.

Photograph any damage found. Check for items left in the car that do not belong to you and inform the police. If the car is damaged, a comprehensive policy will reimburse you for any damage after subtracting the deductible.

In the Event the Car Is Not Returned

With a comprehensive insurance policy, your insurance provider will pay you the value of your automobile on the day it was stolen. Your deductible will be subtracted from the final payout sum. If your car was worth $8000 and your deductible was $1500, you will receive $6500 from your insurance company.

An insurance adjuster will determine the value of your car when stolen. He or she will evaluate car maintenance, repairs, and service records, so be prepared to share all of your receipts. Keeping updated photographs, perhaps after service will aid in getting you the correct payout.

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