In Ontario, a car is stolen every 48 minutes. New technology and the pandemic have made it easier than ever for car thieves to steal vehicles — it can take as little as 30 seconds! Thankfully, there are steps you can take to minimize stress and feel less alone. We’ve outlined all of the necessary steps to take if your car was stolen.
1. Assess the situation
Before jumping to conclusions, retrace your steps and think about where you last were before your car went missing. Did you accidentally park in a prohibited area? Maybe your car was towed instead. If after retracing your steps you still haven’t come to a conclusion, it is safe to say that your car was stolen. CTV News released the top ten vehicles that were stolen in 2021.
2. Contact the police
As soon as you’ve concluded your car has been taken by a thief, the first step is to call the police. When speaking with the police they’ll ask for a lot of information regarding your car, including: the model, the year, the colour, the licence plate number and the vehicle identification number (VIN). They’ll likely also ask where you last saw your car or if there were any valuables inside. Once a police report is filed, obtain a copy to share with your isure broker in order to make a claim.
3. Contact your isure broker
Once you have a police report stating that your car was stolen, contact your isure broker. Similar to your conversation with the police, the more details you can provide your isure representative, the better. Your broker will go through your car insurance policy with you, making sure any specific coverage is taken care of. Additionally, if any valuables were in your stolen car, let your isure broker know.
4. Contact your stolen car’s financing or leasing company
It is important to let your stolen car’s financing or leasing company know of the incident. If your stolen car is leased and not recovered, your isure broker will send a co-payable cheque to the leasing company (depending on your policy.) And if your stolen car is financed, you will likely receive a co-payable cheque to provide to the lender.
5. Purchase a rental car or organize alternate transportation
Until the logistics are sorted out, you will have to find another mode of transportation. If you are interested in renting a car, speak with your isure broker about options covered by your policy, or with your lender about options in your stolen car’s extended warranty. Additionally, public transit or cycling in the warmer months are also possibilities.
We hope this article gives you a straightforward plan in the unlikely event that your car has been stolen. Unfortunately, it is rare to ever see a stolen vehicle again — most thieves sell it for parts within hours of stealing it. If you have any questions regarding your current auto insurance policy and how it can help you in this situation, reach out to a member of our isure team today.