Theft Insurance: Definitions & Articles

What Is Theft Insurance?

With only about 1,600 larceny-theft incidents per 100,000 inhabitants and an ever-declining larceny-theft rate, you might not think the risk is worth the money. However, for those willing to protect property and belongings, theft insurance can be a savior.

The term ‘theft’ encompasses robbery, theft, and burglary, so you don’t have to worry about misinterpretation:

What Does Theft Insurance Cover?

Theft insurance can cover all your property and belongings or only a part of it. A specific theft insurance plan may cover:

Both theft insurance and homeowners insurance have a coverage limit, which is the maximum amount you can get paid toward a claim. Besides, there’s usually a deductible, which is the amount of money you have to pay before your insurance plan starts to pay.

How Much Is Theft Insurance?

To reduce an insurance premium, you can

  1. Choose the plan that covers the most valuable assets, but not in excess.
  2. Take preventive measures, such as installing an alarm, safety devices, CCTV cameras, fencing, etc.
  3. Reduce the level of theft risk in the eyes of the insurer by any available means.
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Renters Insurance: How it Shield From Abrupt Liability Claims

Imagine going on vacation for a week, then returning to the house you are renting and finding that you’ve been robbed! Your TV, laptop, jewelry, and other personal property are missing, and some of your furniture is broken. Are you able to replace it all yourself? If your answer is no, you definitely need renter […]

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What Is A Snowmobile Insurance? Find Out More About Liability & Comprehensive Coverage

It is a rare chance to enjoy riding a recreational vehicle for some drivers. For others, it is a lifestyle. But regardless of the proficiency level, any rider needs additional reassurance that his sled is protected against a sudden threat or accident. The latter can entail numerous risks like bodily harm, crash, repairs, or property […]

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Motorcycle & Scooter Insurances: Key Points

Motorcycle insurance is meant to shield owners and their motor transport from unexpected losses and associated material risks. Different policies are intended to compensate for theft, damage to motor transport or other vehicles, and medical costs. Riders can purchase multiple add-ons to safeguard the motorbike accessories, ensure towing handling, and compensation for physical harm. The […]

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Condo Insurance: The Most Important Things to Know and then Some

Condominium insurance is a specific form of insurance aimed at safeguarding the living space by covering both the overall core structure of the building and the items stored inside it from the indicated perils like theft and damages caused by acts of vandalism or fire. It provides financial support for when disaster strikes a condominium – […]

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Boat Insurance: Definition & Types

Boat insurance is intended to safeguard the vessel and its commuters from accidents and other unexpected events. The policies may differ depending on the specific power limit and the boat class. Most of them guarantee year-round coverage and typically shield the craft from acts of vandalism, theft, fire, and storm throughout the off-season. Boat insurance […]

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What Does Home Insurance Cover?

Home insurance is a category aimed at safeguarding the structure of private residences, dwellings, and items stored inside. The policy typically incorporates different forms of protection, including numerous losses and, in individual cases, extra living costs. It can also secure the homes and adjacent areas from disaster-specific damages. Home is not only where the heart […]

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What is a Car Insurance & How Does it Work

Clients tend to look for additional benefits that go beyond cheap car insurance options. For instance, it can be a sense of social protection and welfare that often seems unattainable unless it comes with a price. And this price varies when it comes to shopping for auto insurance in particular. What is a Car Insurance? […]

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Airbnb Hosting and Renting 101: A Short Guide to Home-Sharing Insurance

Short-term rentals, otherwise known as vacation or short-stay rentals, have been gaining immense popularity for quite a while now. Around the same time, such services as Airbnb started capturing the headlines. For most Americans, renting out their personal property, spare rooms, or vacation homes is not a foreign concept. However, short-term renting and hosting is […]

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Top Reasons Why You Need Renter’s Insurance for the Holidays

Renters often think that they don’t need to have insurance because they don’t own the property they live in. However, the truth is far from that, and just because you’re renting doesn’t mean you don’t need to get insurance for your place. You may need renter’s insurance to safeguard against the loss of your possessions and get […]

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How Renters Insurance Can Help You Deal With Theft

If you ever experienced a theft or robbery, you are familiar with the feeling. Such experience often triggers regret and anger. And as a result, people feel the need to enhance the protection of their property.  With 6.92 million property crime cases reported countrywide in 2019, it is only fair for people to feel concerned […]

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