Auto theft coverage is offered by the Comprehensive Insurance package and protects you in case your car or parts of it are stolen.
The theft coverage is a no-guarantee kind of insurance. You will have to install any anti-theft devices the insurer recommends and, in general, take good care of where you park your car and who has access to it in order to be eligible for a reimbursement.
In the event of a claim, your rates should not go up unless you have numerous incidents in a short time frame. A single comprehensive claim shouldn’t result in a surcharge because, after all, it wasn’t your fault.
No items inside your car (bags, clothes or other valuables) are covered by the theft insurance, although these may be subject to a homeowner’s or a rental insurance policy. The reasons are obvious – it’s hard, if not impossible, to prove that you had those items stolen and you didn’t take them yourself.
The auto theft coverage is subject to the deductible you chose when signing the contract. If, for instance, you have a $500 deductible and someone breaks in and steals your $1,000 navigation system, the company will reimburse you for the difference of $500. If your $400 stereo gets stolen you won’t be compensated, because it’s under the $500 you agreed to cover.