Does homeowners insurance cover theft or robbery from your person while away from the home?
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Asked June 8, 2010
The answer to this is going to depend on your insurance company, and exactly how your policy is worded. In many cases, you will be covered for theft or robbery while away from home, although limitations will generally put a cap on the amount you can recover. In general, you will be covered under the personal property portion of the policy, but it is best to check with your insurance company to find out exactly how your policy is defined.
Another item that should be taken into consideration is your deductible. Since you must cover this portion of the claim before the insurance company is obligated to make a settlement on lost or stolen items, it is not always cost-effective to file a claim. For instance, if you are robbed of a total value of $450 and have a deductible of $500, your insurance isn't going to make a settlement and you would be better off to avoid filing the claim, since it will be placed in your insurance record even if there is no settlement paid.
If you are traveling, it might be a wise idea to pick up a travel insurance policy. This type of personal insurance will protect you against more types of incidents than your homeowner's policy can do, and may even cover your auto insurance requirements while using a rental vehicle in an unfamiliar region.
Answered June 8, 2010 by Anonymous