Are stolen items on house insurance?
Today I had my handbag stolen with my ipod and camera inside. I have reported it to the police, but do you get stolen items, (or the money equivalents) on your house insurance?
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car253 posted: 29 Aug at 5:06 pm
Yes. But since you have a deductible you should not claim it on your home insurance. Every claim counts against you. Save claims for something big.
Ginger posted: 29 Aug at 5:30 pm
How much do you think your claim total will be? If it is less than $2,000, I would highly recommend you take the loss and NOT file a claim. There are companies out there who will cancel you for 3 claims in 3 years and honestly, insurance should be saved for huge losses such as a water pipe bursting in your home, roof torn off by wind, fire, tree falling on house…etc. Basically, insurance is designed to protect you from losing your home or filing bankruptcy and in this day and age, if you lose your homeowners insurance, it will be very hard to replace it with a reputable company or reasonable price.
mbrcatz posted: 29 Aug at 5:49 pm
Do you have coverage for theft off premises, on your policy? What is your deductible? Do you have replacement coverage?
The insurance company won’t buy you items – they’ll give you the DEPRECIATED value, minus your deductible. Then, if/when you replace them, you get the rest. But you still pay your deductible.
It’s probably not worth it to file a claim. Your homeowners rates will go up, and maybe your policy will get cancelled.