Who Covers Costs for Stolen Vehicle Accidents in Houston, TX?

The most important thing to check after the accident is the extent of your coverage policy. If the coverage policy is willing to give 80% compensation for the losses you have suffered, then you are in the safe zone. You need to consult with your legal attorney when you are looking for the best settlement offer. An auto accident lawyer works in the best faith of their client. They make sure the legal rights of their clients are fully protected. A legal attorney is the best guidance that the client can get because they have several years of experience.

Most people wonder Who Covers Costs for Stolen Vehicle Accidents in Houston, TX?  So for the stolen vehicle accidents, the cost is mostly covered by the insurance companies, if the car was insured. They will give compensation amount to the victim.

Comprehensive Auto Insurance:

Comprehensive auto insurance ensures protection from a number of risks not pertaining to collisions, such as theft, vandalism, and others. Loss of property due to theft can only be compensated for through a comprehensive insurance policy, which is the primary coverage in this regard. The policy is optional and yet advisable in many states for extra comfort.

Comprehensive insurance typically covers the following in the event of a stolen vehicle:

Stolen Vehicle Replacement: 

In the event that your car gets lost and is not recovered, it will compensate you for its ACV which was established at the time of being stolen. ACV is what’s used as a short way to describe this market value of your car after depreciating it considering its miles plus its own condition.

Recovery and Repair Costs: 

Comprehensive protects the value of a vehicle, even if it’s been damaged in an accident after it was stolen. If your stolen car is found again damaged, it makes sense to pay for the repair bill.

Personal Property: 

Some of the comprehensive policies will cover you in case some personal items also get stolen together with your vehicle; up to the stated amount.

Deductible: 

You will be required to part with the set deductible payment for your comprehensive cover. However, deductibles aren’t all that the same. That is why check your papers to know what you will pay out of pocket.

Liability Insurance for Stolen Vehicle Damage:

Auto insurance involves liability insurance as its basic component, which covers your legal liabilities for any damage and injuries incurred during an accident. In case your stolen car crashes and causes harm to people’s properties or injuries to individuals, then your liability insurance will play a role.

Here’s how liability insurance works in the context of stolen vehicle accidents:

Property Damage Liability: 

In case your stolen vehicle causes damage to another person’s property, like a car or structure, your property damage liability coverage will assist you in paying for repairing or replacing the lost goods. The liability limits, as stated in your policy, are applicable to this coverage.

Bodily Injury Liability: 

Bodily injury liability will also be there to cater for the medical bills for other people if they are hurt in the accident and the suit that may be filed against you. This coverage is also available only up to certain policy limits like property damage liability.

You need to know what you are covered for in the case of a significant accident and whether the coverage is adequate to save you in case of any serious asset loss. You might be worried about areas of negligible coverage and, hence, interested in ways to boost your liability coverage.

Uninsured Motorist Coverage:

Uninsured motorist coverage protects you from accidents caused by uninsured or underinsured motorists. Apart from being relevant for multi-vehicle collision accidents, this policy is also useful during car theft incidents.

Here’s how uninsured motorist coverage can apply:

Unknown or Uninsured At-Fault Party: 

The identity of the wrongdoer in stolen vehicle accidents could remain elusive, or the person may lack insurance coverage. In that case, uninsured motorist coverage can pay your medical bills and damaged property if the at-fault driver is not insured, but they escape being punished.

Hit-and-Run Accidents: 

An uninsured motorist comes in when your stolen car was responsible for a hit-and-run where the offender is unknown and thus not apprehended.

Underinsured Drivers: 

Underinsured driver in a stolen car crash? In this case, you may also have uninsured motorist coverage that can help cover the extent of your injuries until all the costs are settled and paid directly by the guilty driver.

Uninsured motorist coverage offers a vital safeguard if the liable person cannot repay the damages caused by motor car accidents.

Towing and Recovery Costs:

After an accident where a vehicle got stolen, you might need to pay for the towing, recovery, or storage of your retrieved vehicle. Such expenses usually fall on you unless you have some insurance coverage. In some cases, comprehensive insurance policies cover theft-related towing and storage fees.

You should also ensure that your insurance policy has this cover or is one of its add-ons. Without the body, you will have to pay the bills yourself.

Bottom Line:

In conclusion, you can get the desired compensation for your stolen car with the help of a legal attorney. The right legal attorney will guide you throughout your legal lawsuit. For free consultation, call us at   (281) 609-9224.