Reader’s Question:

I have already paid eighty percent off on my auto loan but my vehicle was recently stolen. What do I get from my car insurance company in Illinois? I do not want another car.

Bobby

Rockford, IL

When your vehicle is stolen and was not recovered you make a car insurance claim with your auto insurance carrier under the comprehensive coverage of the car insurance policy. The settlement will be for the car will depend on your specific insurance carrier’s rules and guidelines and state laws.

Most insurance carriers in Rockford, Illinois will settle the car insurance claim on the stolen car by offering you what they see as the ACV of the car at the time of the vehicle got stolen, less your deductible for your comprehensive insurance coverage. Most states, such as Illinois, permit the insurance carrier to replace your car if certain conditions apply.

To know exactly what type of settlement you may expect to get you will have to talk with the car insurance claims adjuster from your insurance carrier that is working this insurance claim. He should be able to tell you the details of your car insurance policy.