Reader’s Question:

I have minimum state coverage insurance on my vehicle in Manhattan, New York. The vehicle was stolen. Does the insurance carrier compensate for the stolen vehicle?

Jane

Manhattan, NY

No, with just the minimum state coverages in Manhattan New York your vehicle is not covered by your car insurance company in any way if it is stolen. State minimum coverages do not cover your car in anyway, you need physical damage coverages of comprehensive and collision on your vehicle for it to be covered by your insurance carrier.

To have a stolen vehicle covered by your auto insurance coverages you would need to have the comprehensive coverage on your car. According to the New York Insurance Department with comprehensive coverage, your insurance company pays you, regardless whose at fault, for damage to your vehicle from causes such as theft, fire, flood, glass breakage, windstorm, vandalism, hitting or being hit by an animal, or by falling or flying objects.

If your vehicle is stolen comprehensive coverage will also give a certain amount per day specified in your car insurance policy for transportation expenses such as rental car. This coverage is generally provided until the time the insurer makes an offer to settle your car insurance claim.

Since you did not have comprehensive cover on your car there is no coverage on your car to cover the stolen automobile and thus your insurance carrier will not compensate you or be required to help you with your stolen car in any way.