Did you know that if your car is stolen without insurance, the car insurance company is going to have a difficult time recovering their money? And that's not all.
Because you are not insured, the car insurance company has no legal way of collecting their loss if your car is stolen. They can do nothing if the car is totaled by an uninsured driver. Let's take a look at what happens when your car is stolen without insurance in Columbus, Ohio.
Once the car is stolen, the car insurance company has a few ways to recover their money. The first and best way is through the loss adjustment claim.
The loss adjustment claim by the insurance company is more than just a nice little envelope for the insurance company to mail you. It is the legal means of recovering your rightful losses.
The first thing that the loss adjustment claim will tell you is that the loss adjuster has very specific powers. You must learn to read it, understand it, and use it to your advantage.
The loss adjuster works for the insurance company, not you. He is not your lawyer, he is the broker who gets paid by the insurance company for handling the claims on their behalf.
The loss adjustment broker will send a representative to the scene of the theft, to collect the claim. That representative will collect information on the vehicle from the thief and write a report stating the exact make, model, and serial number of the car stolen.
This report is required by law and will include your VIN number, license plate number, and ownership documents for your vehicle. Also included in the report will be the signature of the report author, the date and time of the authorized visit, and a notation that the report is being forwarded to the insurance company.
When the broker gets back to the office, the loss adjuster will then evaluate the report. If the report shows that your car is stolen and recovered, the loss adjuster will file a claim for a recovery fee based on the estimated loss.
At this point, the loss adjuster has turned over evidence and information that the insurance company needs to file a lawsuit. Once that happens, the loss adjuster is assigned to your car by the company and is protected by your automobile insurance policy against a lawsuit.
That means that the loss adjuster can be sure that your car insurance company will never be able to collect their losses. If they did, the loss adjuster would have to file a lawsuit right away.
So, now you know what happens when your car is stolen without insurance. Take that knowledge and use it to protect yourself and your car.