Stolen car and insurance

Bicky

I got up this morning to discover my car was missing. Turns out it was stolen by a group of dubs who went on a spree of taking cars and ramming them into walls. They were cornered in athy and rammed a police car. Three of them were arrested.
Went to the station to see the damage and the car is totaled. The problem is my insurance is only third party fire and theft and the detective (didnt seem to interested tbh) says that because it was recovered i wont get anything off the insurance company
Anybody know if this is true?
Was hoping the theft part of my insurances title might mean something.

omb0wyn5ehpij9

I think the garda was right im afraid

Hagar

Just because the Gardaí recovered your car doesn't alter the fact that it was stolen. At the very least it was damage caused be an un-insured driver and we all pay a levy to cover that. Talk to your insurance company.

alias no.9

Surely the insurance covers you for the theft damage? The car recovered is not in the same condition as it was before the theft so the insurance should indemnify you against the loss, ie the difference in value between its pre theft and post recovery values.

Bicky

Well it would be cheaper to by a new one tbh and since i am a student i will have to pay off the loan on the car first
I really hope that the detective was wrong.

mike65

Phone your insurance company!

Mike.

dcGT

Hagar wrote:

At the very least it was damage caused be an un-insured driver and we all pay a levy to cover that.

I remember trying to claim from this a few years ago when a drunk 16 year old took his father's van out for a spin and smashed into my car. I think is was the Motor Insurance Bureau (MIB). Talk about trying to get blood from a stone. They wouldn't help me in the least.

DC.

Boggle

Why dont you sue the lads who stole the car? If they are convicted then it'll be open and shut! It may take a while but you can sue them for all costs incurred ot of it... (Also if the caes is guarantted by the solicitor, the credit union would give you a loan to replace it and suspend the repayment until the case is settled)

uberwolf

man that seems crazy that it wouldn't be covered!!

I'm deciding between comp and 3rd party at the mo, have to decide this evening - I figured comprehensive only came into play if you didn't feel like paying for your own mistake and every other situ was covered by 3rd & fire & theft

seamus

Your insurance policy insures you against all losses arising out of theft of the vehicle.

Crash damage is a loss arising from theft of the vehicle.

http://www.oasis.gov.ie/transport/motoring/motor_insurance.html?search=Insurance

Third party, fire and theft

This is the most popular form of motor insurance in Ireland. It covers you for loss of the vehicle through fire or theft and for any loss as a result of attempted fire or theft. Damage to property is also covered. There are also optional extras available such as windscreen breakage

Claim from your insurance company.

Bicky

Turns out these lads are from a notorious Dublin family.

I am going to call my insurance tomorrow. Just wanted to get everything straight first.

thanks for the replys

edited as I'd sooner no names were mentioned. Mike.

DaveD

You can definitely claim from your insurance. Contact them straight away and report the claim to them. You won't have any problems.

D!ve^Bomb!

of course you can claim - hence third party fire and THEFT:D

FX Meister

You wil be covered as it's theft of your vehicle. Motor Insurance Bureau won't cover you here as fas as I know, they only cover if a spa with no insurance hits you. Someone mentioned blood from a stone about them. I found the exact opposite, they paid up without any hastle. Only problem with them is the €444 excess you have to pay. I upped my claim to compensate for this though.

dahamsta

Bicky wrote:

the detective (didnt seem to interested tbh) says that because it was recovered i wont get anything off the insurance company

You'd have to wonder about that detective...

fishfoodie

Its a very good idea to real the T&Cs of your loan agreement for any Car. It usually EXPLICITLY tells you that a condition of the loan is Comprehensive coverage. The reason being that the Bank/Kneebreaker doesnt want to be in sthuck if you wrap their/your nice around a tree somewhere & go & kill yourself, thereby leaving them with only teh scrap value of the car.

For some reason they are a little slow to point this out when you sign the loan agreement,

rander00

Interesting comments there, Fishfoodie.
Not fully sure what your saying though. Do you mean that if you get a loan to buy your car, you have to have fully comprensive insurance for the car??

Or are you saying the lender of the money will have comprensive insurance on "their"/your car whilst your paying them back the loan?

Bogger77

rander00 wrote:

Interesting comments there, Fishfoodie.
Not fully sure what your saying though. Do you mean that if you get a loan to buy your car, you have to have fully comprensive insurance for the car??

Or are you saying the lender of the money will have comprensive insurance on "their"/your car whilst your paying them back the loan?

It's a condition of getting the loan, that you, the owner/person getting loan, has comp insurance on the car. This is usually the case, if you have a finance agreement directly related to the car, i.e. arranged by the car dealer. I've had both type, a finance agreement and a BOI motorloan. In the case of the motor loan, I was the guarantor and the loan wasn't related to the car, as I hadn't even thought about what car I was getting when I got the loan. The terms and conditions of the Finance agreement, with Lombard/Ulster did have the condition of Fully Comp Insurance on the car, and this was pointed out to me by the Car Dealer at the time, and was in big print on my agreement (not hidden down as sub section 12a) sub clause B.). But I always have Comp Insurance, it's less than 10% extra so it's worth the peice of mind.

I was involved in a crash where I was hit by stolen car, the insurance company wanted to know if I had finance on the car, with whom, and were going to pay off what was owed directly, and give the rest to me. I think if I'd been in the case where car was worth less than was owed, the insurance company would have paid the excess and claimed that total from the MIBI.()

fishfoodie

Spot on Bogger.

I unfortunately wasnt aware of this clause/recommendation with my 1st car & ended up paying for a car long after it went to the big car park in the sky(my own fault). It's an experience I try to get other people to avoid, hence I always recommend Fully Comp, it just isnt worth the risk to get 3rdPFT

seamus

I suppose it depends on the loan agreement. I always thought that motorloans were normal loans, as opposed to loans borrowed against the value of something that could be repossessed - like a house.

I'm glad now I didn't get a motorloan for my bike. There's no way I can afford comp on it.

quarryman

seamus wrote:

I suppose it depends on the loan agreement. I always thought that motorloans were normal loans, as opposed to loans borrowed against the value of something that could be repossessed - like a house. .

me too. i reckoned that getting the loan just required you to state what you were planning on spending it on.

Victor

seamus wrote:

I suppose it depends on the loan agreement. I always thought that motorloans were normal loans, as opposed to loans borrowed against the value of something that could be repossessed - like a house.

Cars can and do get repossessed, it's actuall easier than repossessing a house. The bank having some security is better than none, in their opinion.

Separately house mortgages are not limited to the value of the house, if you debt exceeds the value of the house (unlikely, but possible), they can still chase you for that part of the debt. In the USA, this is different and the mortgage is often linked only to the house and hence banks there will repossess much sooner.

unkel

fishfoodie wrote:

it went to the big car park in the sky

RIP

seamus wrote:

I'm glad now I didn't get a motorloan for my bike. There's no way I can afford comp on it.

Is there that much in it for bikes, seamus? I presume you have full license?

In any quote I ever got for my car insurance there was something like 5-15% extra for fully comp compared to TFT

seamus

A motorcyclist will incur a lot of losses in the event of an accident (due to the injury that will occur), and bikes are also a big theft target, so Fully comp for me is 1.5-2 times the cost of TPO.