TUESDAY, NOVEMBER 21, 2023
There are a lot of misconceptions out there when it comes to home insurance, many of which are unpleasantly jarring to the policyholder. They may believe that an event is covered only to file a claim and be denied. But in the case of theft of your possessions, the misconception works the other way in that certain events are covered that not everyone knows to file a claim for. Learn more about tell and when to file a theft claim under your policy.
Possession Coverage 
The first step for a homeowner to do is verify that their possessions are covered first. In some cases, your home insurance policy may only cover the structure and the grounds. Typically, you'll find the terms of coverage labeled under personal property protection.
When to File a Claim
Most homeowners know that if someone breaks into their home, they can file for the cost to repair or replace their property. The percentage the insurance company pays is based on your dwelling coverage. This is why it's important to update your insurance company if you've acquired items of value (e.g., new jewelry, electronics, etc.), so your policy can be adjusted to include them. If the insurance company has not been notified, the reimbursement may only be for a fraction of what it costs to replace your things.
What homeowners may not realize is that they can also file for a claim if their possessions are stolen while away from the home. So, if you go shopping for your Christmas presents on one day and they're taken from the trunk of your car, you can file under personal property protection. Your insurance provider may have specific limitations for this event but filing a claim can at least relieve you of some of the financial loss.
If you have questions about how to file a claim, it helps to talk to your insurance provider to understand more about how to get your paperwork processed as quickly as possible. The most important thing for homeowners is to consider all their options when certain events occur. While it may not seem intuitive to call your home insurance carrier after your wallet was stolen on vacation, it may be the only way for you to replace what was lost.
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