Simply call them and give them the crime reference number you’ve been given by the police, along with any other relevant information they ask for. Once the police and your insurer are informed, get in touch with your finance company and tell them about your stolen car using the information you’ve already gathered from your insurance company. If you’re unfortunate enough to have your car stolen while on finance, it’s important to let your lender know as soon as possible. What happens if your car gets stolen on finance? Read our guide to find out what happens if my car is written off while I’m still paying finance. This would be the same process as challenging the amount being offered for a car write-off.
If you’re not happy with the amount they want to give you, you can challenge it. If you have a classic car, they should pay you the valuation agreed in your policy. This is the amount you could have expected to get had you sold it, taking into account its age, mileage, and condition. Your insurer should pay out the market rate for the stolen car. But this usually only happens if you’re claiming for an accident and there’s some debate about who is to blame. If they need any further information, the claim may take longer. So long as you give your insurance company all the details they need and the crime reference number to prove your case, they have three months from the date you contacted them to settle your claim. Once your payout has been settled, you can get on with the more interesting task of finding your new car. It’s important to let your insurer know as soon as possible that your car has been stolen - the quicker you get the ball rolling with any claim, the quicker it will be resolved and a payout made.
#EXETER FINANCE SETTLEMENT HOW TO#
How to tell your insurance company your car has been stolen Let’s now take a look at what happens when you contact your insurer and finance company about your stolen vehicle. If you’ve bought the car on finance and you’re still making repayments, you’ll also need to inform your finance provider. The next step is to let your insurance company know so they can start setting the wheels in motion on any stolen car claim you make. They’ll also inform DVLA if the car is recovered. The police will inform DVLA of the theft, so that’s one less thing to worry about. You’ll need to refer to this number when you call your finance and insurance companies to report your stolen car. The police will then give you a crime reference number, which you should make a note of. If there are any modifications that would make it stand out, such as spoilers, unusual alloys, or a custom paint job, tell the police about those too. When you call the police, make sure you have some basic details to hand about the stolen vehicle, such as its registration, make, model and colour. If your car has been stolen, it’s time to call the police using the non-emergency 101 number - although it might feel like an emergency at the time, it’s probably not going to be one worth dialling 999 about. But, before you do, it’s probably best to make sure there’s not been a mix-up and a friend or family member has taken it without you realising. If you suspect your car has been stolen, you should call the police and your insurance company as soon as possible.
Let’s take a look at exactly what you should do if your car has been stolen, and see what the implications are if you still owe money on a finance arrangement.
Having your car stolen can be traumatic, but there are a few steps you can take to make the aftermath a bit less painful. If your car has been stolen and you're still paying finance, the last thing you should do is panic.
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