Does Homeowners Insurance Cover Theft?

Homeowners insurance gives you the gift of peace of mind. You know your insurer will pay for repairs if something should happen to your home, such as a fire or natural disaster. Homeowners insurance will also cover you after certain crimes, including vandalism and theft.

If someone robs your home in Tampa and you have homeowners insurance, your provider should cover most – if not all – of the price it takes to replace your stolen items. You might not, however, qualify for full coverage of highly valuable items depending on your policy. Additional coverage is available if you own expensive belongings.

What Does Homeowners Insurance Cover?

Most homeowners insurance policies cover your home, other structures on your property, liability for accidents on your property and personal property. Personal property coverage is the category that will pay for item replacement after a burglary or robbery in Florida. Personal property coverage protects your belongs. This can include furniture, electronics, jewelry, firearms and appliances. You could also purchase renters insurance and condo insurance to protect your belongings if you do not own a house. Other forms of homeowners insurance coverage can pay for damages to your home in a burglary, such as structural damage from breaking and entering.

After a criminal targets your home for theft, you could receive payment for stolen belongings through your homeowners insurance provider. Personal property coverage will help you pay for losses to items inside your home. The limits of your policy will determine the maximum amount you can recover through an insurance claim. Your coverage may not be enough to make up for the full amount of the losses you suffered in a burglary. Your insurance agent will be able to explain the limits of your policy during the claims process.

Filing a Homeowners Insurance Claim for Theft

If someone robs your home, call the police immediately. Call 911 and report a burglary. Do not touch anything until the police arrive. You could disturb or destroy important evidence that could lead the police to the perpetrator, such as fingerprints. The police can gather evidence of your losses, such as photos of property damage. Your homeowners insurance company will want to know that you called the police. They will also request a copy of the police report. You may need to take steps to protect your home from further damage if the burglar broke a window or damaged the structure of your home in other ways. Save all repair receipts.

Contact your homeowners insurance company right away to initiate the claims process. Waiting too long could give the insurance provider a reason to deny your claim or delay payout. The agent will ask for details of the theft, a list of stolen items and their values, and the police report number. Include as many details as you can about the items stolen, such as the brand, model, where you bought it, photos of the item (if you have any) and copies of original purchase receipts. Most homeowners cannot receive benefits for lost goods, only stolen goods. You may have to prove you lost the item in a burglary if the insurance company questions your story. If your insurance company is acting in bad faith and you need additional assistance recovering the finances you deserve, contact us. Our insurance dispute lawyer in Tampa works hard for homeowners.

Purchase Scheduled Personal Property Insurance

Most homeowners insurance policies place caps on high-value goods such as jewelry, fine art and electronics. This can lead to financial losses if you become the victim of theft, despite having homeowners insurance. If you have high-value items and wish to purchase full coverage in case of a burglary, consider buying scheduled personal property coverage.

Talk to your homeowners insurance agent about taking out additional coverage on specific items. Scheduled personal property coverage is an endorsement you can add when the value of your household goods exceeds the benefits limits on your policy. Scheduled personal property coverage can fully insure your belongings for their full value. Speak to your insurance agent before a theft to fully cover your high-priced items.