Stolen Pete

As I understand it, Most auto insurance doesnt cover theft... My neighbor had his pickup stolen out of his drive way and the guy that stole it had attempted to steal 3 other vehicles the same night. The guy ended up rolling the pickup, totalling it and killing himself. Luckily for my neighbor his home owners insurance covered it since it was taken from his drive way.

 

wow that is not the answer i was hoping to get at all

 

We do not cover theft. Those were the words from my insurance agent when I signed up, or in like this guys case the guy that stole it wrecked it.

 

thanks guys. I've learned something today. I'm 26 and still green and wet behind the ears

 

So banks require comprehensive insurance on the truck they're loaning 100k dollars on. Truck gets stolen and wrecked. How are they made whole?

 

I wouldn't expect a bank to accept an insurance policy that didn't cover theft. If you were a banker would you?

 

My question was rhetorical. Of course bank underwriting requires insurance policies that protect their investment in the event the truck is stolen.

The same insurance can be purchased even if the truck is paid off.

 

I don’t know who you all insurance carriers are, but I know as a fact, all my vehicles including my semi truck are cover for theft. Now, for my cargo insurance, my insurance will only cover cargo theft while my power unit is attached.

 

Yeah, I wasn't questioning you. I was chiming in. I can maybe see the auto insurance company wanting the home owners policy to cover the theft if a vehicle stolen out of a driveway. But I can't see a comprehensive policy not covering theft at all.

 

A chipped key should at least be an option on new trucks.