Once the police have been notified, the driver of the stolen company car should contact his employer. Business auto insurance has provisions for the handling of a commercial vehicle that is stolen. Specific details about the situation must be reported. The employee will want to provide details concerning:
- The location where the car was stolen
- Condition of the vehicle – was it running? – were the doors locked?
- Any extraneous details concerning the situation
Negligence is an important factor in determining how the auto theft situation will be handled. Employers trust each employee to use precautions when using the company vehicles. In some cases, the company does not carry comprehensive auto insurance on every vehicle. The company would cover the cost of the vehicle if only liability auto insurance is on the company car.
Under comprehensive auto insurance, the insurer will require that the policyholder wait a certain number of days before the claim is paid. A car that is recovered will be examined for damage. Insurance coverage will pay for repairs to the recovered vehicle minus the deductible.
Weeks & Associates Insurance Services offers business auto insurance policies. Each client has specific needs that can be assessed and met through the right combination of coverage.
Contact us today to find out about the flexible coverage options available.