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Web and Mobile. Contact Us. You are about to leave geico. We're here to help. Call the police as soon as possible. Report your claim online or by phone.
Location of all keys to the vehicle before and after the theft. Names and contact information of everyone who had access to the vehicle. A list of personal property stolen with your vehicle. Coverage for personal items varies from state to state, and your homeowners or renters insurance policy may provide additional coverage for personal items that were stolen. Please include any finance or leasing company contact information and your account number, if applicable.
Has your vehicle been recovered? Once your payout has been settled, you can get on with the more interesting task of finding your new car. So long as you give your insurance company all the details they need and the crime reference number to prove your case, they have three months from the date you contacted them to settle your claim.
If they need any further information, the claim may take longer. Your insurer should pay out the market rate for the car. This is the amount you can expect to get had you sold it, taking into account its age, mileage, and condition.
If you have a classic car, they should pay you the valuation agreed in your policy. Then you need to send the rest of your V5C to your insurer. Depending on your loan terms, this may or may not cover the remaining balance on your loan.
Another option is if you have gap insurance. Gap insurance will cover the difference between what you owe on your loan and the value of your vehicle. Unfortunately, without gap insurance or comprehensive insurance, you would be responsible for your loan balance. While not ideal, you could potentially roll your loan balance into a new car loan. However, this will likely cause you to be upside down on your loan for a few years, depending on how much you currently owe.
If you do decide to do this, be sure to have gap insurance. Jerry finds you the best rates for customized coverage with up to 50 top insurance providers. Gap Insurance Car Theft. Emily Maracle Answered on Aug 18, Emily Maracle is a car insurance specialist living in New York.
Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car. Did this answer help you? Ask us a question by email and we will respond within a few days. Like this answer 0. Have a different question? You can meet us at our office and discuss the details of your question. Ask a question.
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