I work in an office tower with an underground parking garage. We’ve recently had a rash of vehicle break-ins in the parkade, and one of my coworkers had some expensive belongings stolen from her car. Naturally, I asked whether they would be covered by her insurance, and she explained that she was luckily carrying property insurance for her vehicle.
I hadn’t realized that property insurance was available for vehicles. I always assumed that personal property in a home was covered by home insurance and personal property in a vehicle was covered by auto insurance. After my conversation with her, I did some digging and discovered she was wise to be carrying property insurance for her vehicle.
Why Property Insurance for Vehicles Matters
While some policies may offer limited types of coverage for some belongings, many personal items simply aren’t protected by vehicle insurance policies. By and large, car insurance only covers the value of the vehicle itself.
Police statistics show that personal property is almost never recovered from stolen vehicles that are later found. Property insurance for a vehicle is the only real way to protect valuables, including:
- Wallets, purses and identification replacement costs
- Briefcases and suitcases, and their contents
- Portable electronics (GPS systems, MP3 players, car stereos, etc.)
- Sporting equipment
- Fashion accessories (expensive sunglasses, watches, etc.)
- Newly purchased items that have been left in the vehicle while it is parked
Without personal property insurance, car owners are left to cover these replacement costs out of pocket. Homeowners generally have personal property in vehicles covered by their home insurance policies, but my coworker was smart to protect herself, since she doesn’t own a house and wouldn’t have been eligible for reimbursement if not for her foresight.
Protect Your Belongings
I think everyone knows not to leave valuables in plain sight in a parked car, but I found a few other helpful tips that I wanted to share:
- According to police services, the trunk is the safest place in your car to keep valuables
- The police recommend keeping valuables in a gym bag, and putting it in the trunk before leaving the vehicle
- Add another level of protection by locking the trunk release switch; this prevents thieves from breaking the car’s window and pulling the trunk release to gain access to valuables
Parkade Safety Tips
Of course, it’s also a good idea to brush up on general parking and driving safety tips for parking lots and parkades. Because I’m super careful, I always make sure to:
- Park in a well-lit area, and within view of a security camera if possible
- Roll up my windows all the way (leaving them down even a little bit can give thieves a useful entry point)
- Lock all doors and the trunk release switch
- Report suspicious activity to the police
I never leave my car running if I have to run into a store, even for a minute. Always turn off the ignition, lock the vehicle and take the keys.
Parkades and parking lots pose some driving risks, which I mitigate by:
- Turning on my headlights as soon as I enter an underground parking garage
- Reducing speed while driving in a parkade or parking lot, especially when rounding corners
- Watching for reversing vehicles and giving the right of way to drivers backing out of parking spots
- Using my horn to signal my presence to drivers who may not be able to see me
- Taking the first open spot I find in a busy lot or parking garage
I also recommend using an anti-theft device to deter thieves from messing with my new car.
What to Do if Your Car Gets Stolen
Luckily, I’ve never had my car stolen, but if it ever happens, here’s what I’ve been told to do:
- Call the police and report the year, make and model of the car, as well as its license number, VIN number, and the time and location where it was last seen
- Call my insurance company and report the theft
- File a police report and open an insurance claim, then follow up with the police department and insurance company if the car isn’t found promptly
Telematics Can Save the Day!
Here’s another hot tip: telematics devices can help locate stolen vehicles! They’re also a great tool for safe drivers who want to save money on insurance, and are available from InsureMy, a progressive new provider serving customers in Alberta and Ontario.
