• Jul 25, 2023
• / by admin

What Happens If Your Rental Car is Reported Stolen?

Rental cars are an easy getaway option for many different purposes. Whether you are 

• Planning for a trip with friends or family
• Looking for a replacement for your car that is undergoing repairs
• Want a luxury rental for a photo shoot or video shoot

Rental cars offer flexibility and versatility in many aspects.

Thus, people prefer rental cars. But what if the car you rented gets stolen? It will certainly put you in a bad situation. That is why it is important to know what would happen if your rental car gets stolen. 

And that is precisely what we are going to cover in this blog. We will also share the things you can do if you get stuck in that situation.

What Happens If Your Rental Car Is Reported Stolen?

There are many situations that can happen in case the rental car gets stolen. One situation is that you would have to pay for the lost car based on the car's worth. However, signing up for insurance coverage or a fee waiver for loss damage can help in preventing that. 

Let's have a look at all the possible scenarios that can take place. 

• You will have to bear the cost of losing the rental car and compensate the car rental company. 
• The responsibility for covering the lost rental car falls on the car rental company. 
• Another instance would be that the insurance company pays for the loss. 
• It is also likely that the police will take up the job of finding the car and the thief.  

However, the most common scenario is that the renter bears the daily cost of not returning the car on time. There are many factors as well that can influence the situation, such as 

• The car rental company
• Insurance coverage
• Whether the police complaint was filed within 24 hours
• Location of keys at the time of theft

The Car Rental Company 

There are instances when people try to settle the case by themselves. However, it cooks up even more trouble for them as car rental companies do not hesitate to charge the person with a felony. It may not happen all the time, but it is a possibility that will complicate the situation. 

Having a brief understanding of the company's policies may be of help. Some common policies are: 

• The company requires you to file a police complaint asap (within 24 hours usually). And then, you would have to fill out a report for the vehicle's theft. However, do know that it will not save you from the late return charge. 
• Some companies may be more helpful and would try to find the car. That is possible with the help of trackers in the car, and they also take help from the police. 

Insurance Coverage

Having insurance coverage can be a big help in such situations. You can either go for 3rd party insurance or take the insurance from the company itself. That will cover the costs even if the vehicle gets stolen. 

Some companies also cover damage waivers, supplemental liability protection, personal accident insurance, etc. Third-party insurance packages also provide different coverages. Both options are available, and the final decision to choose the right insurance is yours. 

Police Complaint 

Most car rental companies require you to file a police complaint within 24 hours of the theft. They mention it clearly in their documents as well. An inability to do so may even take away your insurance coverage.

Also Read: Top 10 Car Rental Companies in Bloomington, MN for Hassle-Free Car Booking 

Location Of Keys At The Time Of Theft

Obviously, no one would consciously leave the keys in the car and make it an easy target for theft. And car rental companies are also aware of that fact. That is why there are policies where you will be liable if the key was inside the car at the time of theft. A simple reason for that is that a rental car becomes the renter's responsibility after renting it. 

So, make sure that you keep the keys with you even if the car gets stolen. That will at least prevent you from losing the coverage, which you would lose otherwise if you also lose the key.  

How Long Does A Car Rental Company Take To Call In For A Stolen Car?

There is no specific time period as to when the car rental company would call for a stolen vehicle. It can also depend on the company from which you were renting the car. However, you can expect the duration to be in the 2-3 days range. It can change based on the situation, but usually, it is around that time period. 

Now, one question is that should you report the stolen car to the company? Informing the company may help you avoid legal complications. In some cases, the company cooperates and even helps the individual to the best of their ability. 

What Can You Do If Your Rental Car Is Stolen?

If you rented a car and it was stolen already, then there are some things that you must do. Doing so will ensure that the liability does not fall completely on you. You may even get out of the situation without any major loss. 

The things you should do are as follows: 

• Call the police immediately and inform them of the incident. They would ask you for the documents to confirm the rental car was yours. You may also have to provide some additional information which usually varies based on the condition. 
• Next, you should inform the rental company and request any information that can help in finding the lost car. The information includes the car's license and VIN (vehicle identification number). Also, make sure that you have a record of the conversation with the company's representative. 
• Contact the insurance company if you have third-party insurance. They will instruct you on how you can go about the process of claiming the insurance. 
• You can also hire a legal professional to not let the situation become any more complex. The professional will help you to receive the claim and ensure that you come out with the least possible loss. 

What If The Car Insurance Does Not Cover Vehicle Theft? 

In case you break the agreement or violate some law that leads to theft, the responsibility will fall completely upon you. So, it is certain that you will not be eligible for any insurance coverage. 

If, for any reason, your insurance coverage fails, then all you can do is call a lawyer who specializes in rental cars. However, the situation would resolve in the best way only when you return the car to the company. 

Frequently Asked Questions

Do rental cars have trackers?

Not many people are aware of the fact that rental cars have trackers installed. However, the reason is not to track the people but the car, as it is nothing more than a safety feature. It also helps find a car easily if it gets stolen. 

What is a theft waiver?

A theft waiver is coverage that covers the cost of a vehicle in case of theft of a rental or any damage due to the theft.