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Insurance does not stop thieves!

Insurance does not stop thieves!

It goes without saying, you need an insurance. The deductible is always less than the costs related to getting your wheels stolen. So if really well insured, why would you need a wheel lock?

Because an insurance is reactive - it supports you if something has happened, it does not stop it from happening. AND perhaps it does not even support you as much as you thought it would.

Here are a couple of things your insurance does not do: 
  1. It does not protect you from the actual theft.
  2. It does not protect your car from any related damages.
  3. It does not protect your well kept car from becoming a restored car.
  4. It does not get you to the place you are going when you find your car on crates.
  5. It does not reimburse you for new wheels, only the ACV of the ones stolen from you. 

Let's break the above down a little, no. 1 we skip, as it is quite obvious, in insurance is not a lock. 

2. Insurance does not protect from related damages
Well, the point trying to be made here, is the same as for no. 1. What most do not know is that a wheel theft often causes quite brutal damages to the car. Damages that will need time in the work shop. Time when you will be without your car, referred to a rental, friends or public transportation. 

3. A well kept car becoming a restored car
Further more, that time in the work shop will give you in return, if really bad, a car with a restored undercarriage and/or wheel axles. The same car that you kept so well maintained is not a restored car, which simply is not fun and might even impact its resell value. 

4. Missed - flight, interview, pick up, work... 
It is only when you are going somewhere, and you intend to use your car to do so, that you are going to realize that your wheels are missing. Unless you spend a lot of time looking at your car for the sake of looking at your car, if that close at hand, you are not going to know.

5. Actual Cash Value - ACV
Yes, your insurance will cover reimburse you for new wheels, BUT only with the ACV of the ones stolen from you, minus your deductible. Insurance companies normally depreciate the value of your wheels and tires by approx. 10-15% per year. If your complete set of wheels and tires cost $2,600 new, and you have kept them really well for 2 years when they get stolen - you are looking at: 

 Your tires, new $2,600.00
Depreciation 2 years, 15% -$721.50
Actual Cash Value, ACV $1,878.50
Deductible -$500.00
Your reimbursement 1,378.50
If you want a set of new wheels, your cost will be $1221 

Your Rimgard wheel locks can save you a lot of headache, and money

Some will say that the above will be the same anyway, even if they do have a good wheel lock. We argue that this is not the case. Your wheels did not get stolen, your undercarriage and breaks were intact and you got to where you were going, in time.
The down side is you might need new locks and restoration of your wheels, but that is most likely not the case either. Thieves don't ask for greater challenges if they can be avoided. They will simply leave your car and wheels untouched. 
And so the thief walked away
in evil search for easier prey
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