In the event of a car being stolen it falls to the comprehensive or first party cover (Vollkkasko) to rescue the situation. The extent and type of recompense on offer is dependent on the small print of the policy in question but typically the
Autoversicherung would offer up a sum equivalent to the value of the vehicle at the time it was stolen. They would subtract a contractually agreed sum for the service.
So the so called Wiederbeschaffungspreis (valuation at replacement cost) is the sum that the insured party must pay in order to buy a replacement vehicle of equivalent sort (age, capacity, model) or parts of equivalent value. The cost ceiling in all cases is determined by the manufacturers recommended price at the time of the theft. There is consideration for a small deduction to be taken from this sum under the “new for old” principle. This deduction is justified by the wear and tear inevitable in a used car.
Depreciation, delivery and registration fees, compensation, hire car costs and fuel are not covered by the Autoversicherung under normal circumstances. Because luxury cars have a tendency to lose value quickly after a couple of years in comparison with your standard family saloon these are, in reality, much harder to replace like-for-like with the Wiederbeschaffungsgeld. The charges of a mechanic or other expert will only be met by the insurer when the work has been approved by them.
Should the stolen vehicle reappear within a month after the submission of the claim then the claimant is obliged to take it back. After this period the vehicle becomes the property of the
Autoversicherung and they will determine what happens next. They may yet return it to its former owner but it is more likely that they will sell it or auction it off.
