A theft in the home can devastate a homeowner to a huge extent. In the home are some of the most valuable items belonging to the owner and the family. It is therefore very vital that you, as a homeowner, have an insurance policy that covers you. Unfortunately, theft is commonplace, especially in certain neighborhoods. As such, you need to ask yourself this question:
Does home insurance cover theft?
Typically, home insurance covers your personal property. This policy, in essence, covers losses due to theft and catastrophic damages. It follows that break-ins are covered by home insurance packages. Most of them also protect your property while it is away from home. This means that if it is stolen when you aren’t at home, you are covered but with certain limitations. The limit is set at a certain percentage of the whole insurance package.
7Who else is covered in your home insurance policy?
Apart from you, an insurance policy covers those you specify in the list of individuals to be covered. This may include your spouse, parents, children, etc. When out in college, your child’s belongings are protected by the policy as long as they are still enlisted. This can only end when your child relocates to live on their own home. Then, he or she is no longer covered. They are required to get an insurance of their own after moving out.
Which items are covered?
There are some items that may not be covered by your home insurance. Examples include jewelry and cash. This is because such items require an above-average cost to reimburse or replace. Your car also may not be covered by the policy because it needs to be insured separately.
Also covered in the home insurance, are the physical damages as a result of a break-in. Damaged doors, locks and windows among others are included here. Other items are copper pipes which can be stolen by the burglar from your premises. The cost of repairing these pipes and the damages in your basement are also covered by your insurance company. However, you should read the policy keenly and in detail to know what is covered and to what extent.
Insurance companies have different limitations on theft coverage. It is therefore of benefit to inquire about whether the policy would fit your needs or not. But of importance is to ensure that you are covered when it comes to theft. If you carry out theft-proof measures to your home, your insurance company can offer you some savings inform of discounts. Therefore, using Grade 1deadlocks on your doors are a good practice. You could install alarms and motion lights around your home to get between 2% to 15% discount from your insurance company as well.