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Buying A Car

Am I Covered for Car Theft?

You’re most likely covered for theft if you have a comprehensive auto insurance policy. Comprehensive coverage helps pay for situations involving theft, fire, vandalism, hail damage, and hitting an animal, or if something such as a tree falls on your car. Other coverage options may include theft, but it will depend on the insurer and any exclusions in the policy. Theft coverage in a comprehensive policy is separate from the collision limit and deductible.

Comprehensive Coverage is a Smart Option

Your coverage will only extend to the dollar amount stated in the policy. That’s why comprehensive coverage is a better solution. It does cost more, but it’s worth it if your car is stolen. Be prepared to purchase comprehensive coverage if you’re financing your vehicle – lenders require it to protect their investment when they approve your car loan. The policy may also cover damage done to a vehicle as a result of a natural disaster or civil disturbance.

What a Comprehensive Policy Doesn’t Cover

A comprehensive policy doesn’t pay for damage to your car in a collision, damage to the other person’s vehicle, or medical expenses for passengers.

Choosing Limits and Deductibles

When you purchase an auto policy, you’ll decide the amount of coverage for which you want to pay. There are coverage limits and it’s usually restricted to the actual cash value of the vehicle. You’ll also choose a deductible. The deductible is the amount you’ll pay toward any claim you might file.

Don’t Forget Depreciation

Comprehensive auto insurance won’t reimburse you for the entire cost of the vehicle. Insurance companies always factor in depreciation of the vehicle, along with your deductible amount. To purchase a new vehicle, you’ll have to use the reimbursement amount and add some out of pocket. The good news is that there will be far less for you to finance.

For more information about how The Sena Group can help you with any

of your insurance needs, please contact us at 561-391-4661.

We can be found on Social Media at the following links.


The Sena Group
6501 Congress Ave., Ste. 100
Boca Raton, FL 33487