Does home insurance cover theft

Answer 1

The foregoing answer is not altogether correct and I am concerned that some users may be misled.Theft coverage under a homeowners policy is provided, if at all, under the personal property section, and coverage is provided in an amount stated on the Declarations page of the policy. The amount shown on the Declarations usually refers to the coverage for theft of items from the insured premises. While it is true that many policies do coverage off-premises theft coverage, not all do; it is therefore critical that you check your own policy for verification. If your policy does not, you may be able to obtain a rider for it through your agent/broker. Similarly, if the property that you wish to protect exceeds in value the amount of coverage that can be obtained by a rider, you may be able to "schedule" the property. The reason for doing this is because many/most homeowners policies, in the property (contents) coverage will provide a maximum recovery for the loss of a category of property (for example, electronics). Therefore, if you have a high value computer or TV, you may want to shedule it so that in the event of loss you are not limited in the amount of recovery. There will be an additional premium for doing so, so you will need to make a financial judgment.

Answer 2

Home insurance covers both theft and vandalism. This coverage is provided under the personal property section of the policy. While most believe theft is only covered when belongings are taken from the insured premises, this is not the case. A home insurance policy will pay for the theft of your belongings anywhere in the world up to the limits stated on the policy. The policy may exclude theft from other owned properties as the policyholder is required to carry insurance on that property to claim theft of belongings.