Vehicle Fraud Insurance Broker- Comprehensive Accident Insurance Can Stop Loss_1

In a recent interview, insurance broker experts have highlighted a crucial aspect for car owners in Southern California: the necessity of having Comprehensive Insurance to receive compensation in case their vehicle is stolen. This advice comes in light of rising incidents of towing scams targeting local car owners, one of whom witnessed her nearly $300,000 luxury vehicle taken.

Angelina, a driver from the area, recounted her frightening experience during a hit-and-run accident. She noticed that up to three unsolicited tow trucks arrived at the scene, insisting on towing her vehicle. A man, claiming to be a bystander and witness to the accident, asked for her contact information. Just minutes later, she received a call from someone pretending to represent a roadside assistance program, but Angelina confirmed that her vehicle was not registered with any such service.

Law enforcement authorities have indicated that scammers often monitor police radio communications to arrive at accident scenes impersonating tow truck companies dispatched by insurance agencies. They pressure victims into agreeing to have their vehicles towed. Police warn that if car owners fall victim to these tactics, they may never see their vehicles again, as they could end up at a junkyard or subject to extortion.

In response to such incidents, Jason Wang, the manager of the automotive and homeowners insurance division at Huaxing Insurance, suggests that the first step for car owners when their vehicle is stolen is to report it to the police immediately to check if it can be recovered. If recovery isn’t possible, they should contact their insurance company right away. The insurance company will evaluate the vehicle based on its year, mileage, and condition to initiate the claims process. It’s essential, however, that the owner has Comprehensive Insurance, which typically covers circumstances like glass damage, intentional scratches, and theft. This coverage is often required for new car purchases or vehicles with outstanding loans.

Jason also reassures that filing a theft claim typically won’t affect the owner’s future insurance premiums, so they need not worry about a potential increase. However, he cautions that car owners may face difficulties obtaining coverage from a new insurance company the following year.