Have you ever thought of the adverse effects of auto theft? It seems that it causes damages at the moment, but in real life, it is not like that. The ratio of your auto theft is a factor for determining your auto insurance rates. The auto insurance companies take this factor in consideration when they decide the amount of premium for you. The auto theft is not the danger for those who are having new expensive cars. It is also a danger for those who have old cars. This post is going to share how auto theft affects auto insurance rates.
According to National insurance crime bureau, the 10 most auto theft cars were
- Honda Accord
- Honda Civic
- Ford Pickup Full Size
- Chevrolet Pickup Full Size
- Toyota Camry
- Dodge Caravan
- Dodge Pickup Full Size
- Acura Integra
- Nissan Altima
- Nissan Maxima
So here you can see that all kinds of cars have to face the threat of auto theft.
How auto theft affects auto insurance rates?
Most of us even don’t know about the actual meaning of auto theft. Here we are sharing it with you. Auto theft stands for both stealing the whole car or some parts of the car like airbags. Many states of the world ask for liability coverage that helps you in auto theft. But some coverages offer to pay only for those stolen cars which are not on lease or rent. While others pay up to a certain limit or only for the depreciated parts of the car. You have to pay high auto insurance rates in the following two conditions.
- If you are living in a state where the ratio of auto theft is high
- If you are having a car that is more likely to be stolen
But if you are living in a state where the ratio of auto theft is less, then you are supposed to pay lower insurance rates Texas. Your driving record also matters a lot. If your driving record shows the number of auto theft, then you are subjected to pay higher auto insurance Rates.
Anti-theft protection devices
The advancement in science and technology comes up with a solution for auto theft as well. The states of the world want to see you out of auto theft. Thus they have developed some special devices that help to minimize the auto theft of your car.Some states of the world give it much importance and make it the part of the vehicles of all the drivers in their state.
The other states don’t take it so much seriously. The reason behind it is that the installation of anti-theft devices cost you more, while in some states of the world, the auto insurance companies give extra discounts to those who have such devices in their cars. It depends upon where you live. So some drivers ignore it. No matter where you live or what you have to pay, never compromise on your life. Remember that your life comes at first.