Theft Risk Insurance Premium Factor

If you live in a high-theft area and you have comprehensive coverage, you're likely to have a higher rate on your policy.

If you are concerned about theft, you should remember a couple of things. First of all, your insurance company will calculate your theft coverage premium based on where you live and your risk of theft. They will also factor in where and how you park your car. If you park your car in a garage, instead of in a driveway or on the street, it will be harder for thieves to get to your car so your rates will likely be lower.

Also, many insurance companies will only pay for the actual cash value (ACV) of your vehicle. If you own an older car, the cost of theft coverage may not outweigh the value of replacing it.