I had the very unfortunate experience of having my car stolen last week.

Parking at my building is $5 per day. For the past 2.5 years, I’ve been able to find parking about a 5-10 minute walk away, in local neighborhoods, along the street. For 2.5 years, I didn’t have any trouble. Then, one Tuesday afternoon, I walked out of my building, heading towards the side street where my car was parked. As soon as I had gotten out of the building, I noticed a blue jeep drive by. “Wow, that looks just like my car”… “oh wait, that is my car”. I noticed my two bumper stickers on the back and realized it was my car being stolen. I actually chased them down the street and verbally confronted them at a red light. All to no avail and they drove off. After the fact, I learned that older Jeep Cherokees are actually quite easy to both steal and sell. Just like that, I had my car stolen. As painful as this experience has been for me, it’s been quite the learning experience for me, and its helpful information that I would like to share.

1) Have the right mindset

I live in Atlanta, which is a pretty big city here in the US. Crime happens with some regularity in big cities. It’s important to not become naïve to the point where you say, “It’ll never happen to me”. Statistics don’t lie and there’s a decent chance that at some point in your life, you’ll have something bad happen to you. Your car will get stolen, your house will get broken into or somebody will steal a package from your front door. Even if you don’t live in a big city, crime doesn’t discriminate and you still run the risk of being a crime victim out in the country.

Once you go ahead and accept this mindset, it’ll make things a little easier for you. By having this mindset, you’ll be able to prepare yourself for when it actually happens. I knew that one day I would walk out to my car and it would likely have a dent in it or even have the window busted (never thought it’d get stolen though!). By not getting too attached to my things (store up your treasures in heaven), I was able to make peace a little faster with the fact that I had been robbed. Learn to value the important things in life, and try not to worry as much about the rest.

2) Prepare for the worst

There’s the saying, “Prepare for the Worst, Hope for the Best”. By doing a little planning ahead, you won’t totally be caught off guard. Don’t leave valuables in your car, and if you do, don’t leave them in there for very long. Ask yourself, would I be ok without this item if my vehicle got stolen? Also, not having anything with my address on it made me feel a lot better and helped me sleep at night. For a while I panicked that they had my address, knew where I lived and would next come to rob my house. Go ahead either memorize your license plate number or have a picture of it on your phone. The police’s efforts were hindered and slowed as I didn’t have my license plate handy.

One important factor to consider is the insurance coverage you elect. The two main options are: general liability and full coverage. (How does car insurance work?) While full coverage is more expensive, it will compensate you in the event of a loss to your car. Because I had full coverage, I will now get a check from the insurance company for my car’s fair value. Had I just had general liability, I’d be on the hook for a new car. Ask yourself this question, “If my car is stolen, am I financially ready to buy a new one?” If you’re not in a feasible spot to buy a car (doesn’t have to be brand new, just a driveable one), you should probably consider having full coverage. Also, think twice before you decline the rental insurance option. I figured that if in fact I was out of a car (repairs, etc…), that I could make due for the couple of days. A couple of days in this instance are turning into 3-4 weeks. A buddy of mine’s hail damaged car? 35 days. It might actually be worthwhile to consider getting the rental coverage.

3) What to do after the fact

Definitely call the cops, as soon as you notice it missing. They’ll come out and file a police report and your car will be listed as stolen. That way, if a cop comes up behind the vehicle and runs the plates, it’ll be listed as stolen and the thieves will get pulled over. Sure it’s an offset chance but wouldn’t you rather it be listed as stolen? To file an insurance claim (with comprehensive coverage especially), they’ll need to know the case number that the police gave you. Before they just write you a check for the value of your car, they’ll want to make sure the police have looked into it as well.

It’ll likely take a couple of weeks before you actually get a check from your insurance company. They’ll want to give it plenty of time for your car to turn back up, and hey; sometimes it will. There are only a couple of things thieves actually steal cars for. Sometimes it’s just some kids looking for a thrill and will take it for a joyride. They’ll likely ditch it when they get bored or when it runs out of gas. Other times, they’ll take it straight to a chop shop. They’ll get paid and some shop will tear it apart and sell all the parts that they can. Finally, the last likely option will be to use it for a crime. If they are going to rob a store or shoot somebody, they obviously don’t want to do it in their own car. That’s ever more important why you call the cops and have it listed as stolen!

In the coming week or two, spend some time on: Craigslist, KBB (Kelly Blue Book) and NADA (National Automobile Dealers Association). All 3 will help give you a sense of what the insurance company will offer you for your car. There will likely be some negotiation involved, so don’t be afraid to push back (with data from the above websites).

Thanks so much for reading! It’s my hope that something like this will never happen to you but hopefully you’ve gained some tips to hopefully avoid or minimize your loss.

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