When Your Home Insurance Covers Theft
Most standard homeowners insurance policies include personal property coverage that protects against theft. This typically covers items stolen from your home as well as belongings taken while away from your residence. However, coverage limits vary by policy, with high-value items like jewelry, electronics, and artwork often having specific sub-limits.
Filing Process
- Contact police immediately to file a report
- Notify your insurance company as soon as possible
- Document all stolen items with descriptions, approximate values, and photos if available
- Complete claim forms provided by your insurer
- Provide the police report number and any supporting evidence
- Work with the claims adjuster during their investigation
What You'll Need
Creating a home inventory before theft occurs is invaluable. Without one, gather receipts, credit card statements, photographs, or other documentation proving ownership and value. Your insurance company may require proof of forced entry to validate your claim.
Deductible Considerations
Remember that your claim payout will be reduced by your deductible amount. For lower-value thefts, consider whether the claim amount would significantly exceed your deductible before filing.
Impact on Premiums
Filing a theft claim may result in increased premiums at renewal. Multiple claims within a short period could potentially lead to non-renewal, so weigh the claim value against potential long-term premium increases.
Special Situations
If you've recently purchased high-value items, check if they're covered under your current policy limits. For significant valuables, consider scheduling them separately with additional coverage. Theft from detached structures, vehicles, or while traveling may have different coverage rules.
When Claims May Be Denied
Claims might be rejected if there's evidence of fraud, no signs of forced entry, insufficient documentation, or if the theft occurred during an extended home vacancy beyond policy limits.
Understanding your specific policy terms before a theft occurs is the best preparation for successfully navigating the claims process should you ever need to file.