Protecting your Texas home and possessions requires homeowner’s insurance, but many homeowners are unsure if their coverage covers theft. After a burglary, knowing how much theft coverage is included in your Texas home insurance might help you avoid unpleasant surprises.
This blog helps understand whether is theft covered by homeowners insurance in Texas, what is often covered, the limits, and the proper way to submit a claim.
What Does Texas Homeowners Insurance Cover for Theft?
Your personal belongings are often protected against stolen property arising from robbery or burglary by homeowners’ insurance theft coverage. This includes goods that have been stolen from within your house structure, such as jewellery, clothing, gadgets, and furniture.
Under your dwelling coverage, it also covers damage to your house that results from a break-in or vandalism, including forced doors or smashed windows.
Furthermore, although the limits are sometimes smaller than those for on-premises loss, some policies provide limited coverage for theft of personal belongings while travelling, such as stolen luggage.
Homeowners Insurance Includes Theft, But Has Its Limits
Typical Theft coverage is a standard feature of a Texas homeowners’ insurance policy that protects your personal belongings in your premises. But there are deductibles and coverage limitations that they actually pay. For instance, costly items like jewellery and collectibles frequently have sub-limits, which means that unless you directly schedule these products with your insurer, only a set actual cash value will be reimbursed.
Unless otherwise noted, outdoor possessions like patio furniture or tools left outside might not be protected. Vehicle theft is also not covered by theft coverage because comprehensive auto insurance deals with those claims independently.
Types of Theft Covered in Texas
If you’re wondering is theft covered by homeowners insurance in Texas, here are a few things you can expect –
- Burglary: Forced intrusion or breaking into your home with the intention of stealing, along with any associated damage to your home.
- Robbery: Although personal injury claims belong elsewhere, homeowners’ insurance may cover theft involving violence or threat.
- Car Theft: While auto insurance covers vehicle theft, your homeowner’s policy may cover personal items taken from your vehicle.
- Theft Outside the Home: Though normally up to a lower amount, usually 10% of your personal property coverage, property stolen while travelling or at a secondary residence may be covered under homeowners policy theft insurance.
What to Do Right Away Following Theft?
Secure the property initially to stop more loss or damage if your Texas home is stolen. Your insurance claim provider will need a thorough police report, so report the theft as soon as possible to the local police. Then, as soon as you can, let your home insurance provider know. Give a thorough inventory of the stolen goods, together with any accessible invoices or pictures. Maintain a track of any associated insured value for any damage the break-in caused to your house.
How to Successfully File a Texas Theft Claim?
Comprehending the claims procedure facilitates effective filing. An adjuster will probably be sent by your insurance company to evaluate the damage and confirm the list of stolen items. When submitting your claim, be truthful, comprehensive, and include any necessary supporting paperwork. Keep in mind that your policy limits and deductible will affect the amount of your claim settlement, so study them in advance.
Additionally, keep in mind that certain insurers make a distinction between repair or replace and real cash worth (depreciated value), which may have an impact on how much you are reimbursed to pay for the damage.
Things to Remember About Limitations and Exclusions
If you’re wondering is theft covered by homeowners insurance in Texas, remember that not all forms of theft or losses are covered by insurance. For instance:
- Unscheduled High-Value Items: Additional endorsements could be needed for collectibles, jewellery, or artwork.
- Theft Without Forced Access: For theft claims, certain insurance policies need evidence of forced entry.
- Items Left Outside Unattended: Unless additional coverage is purchased, many policies do not cover theft of items left outside.
- Vehicle Theft: Vehicle theft is covered by your auto insurance, not your homeowners’ policy.
Preventative Actions Can Reduce Insurance Premiums and Theft Risk
Although insurance is helpful after the fact, lowering the chance of theft safeguards both your house and your finances. Installing cameras, security system alarms, deadbolt locks, and sufficient outdoor lighting might discourage burglars and even earn you insurance savings.
If you own expensive items that are regularly targeted by thieves, think about boosting your personal property coverage. Keep valuables out of sight and safely locked.
Final Words
Is theft covered by homeowners insurance in Texas? The simple answer is yes! However, it’s best to speak to a reputable realtor like Nitin Austin Realtor who is experienced enough to guide you through the intricacies of homeowners’ insurance. Texas homeowners’ insurance coverage typically covers theft, including damage from break-ins and stolen personal belongings.
However, there are restrictions, deductibles, and coverage limits, particularly for valuables and theft that occurs outside the home. In Texas, timely police reporting, comprehensive paperwork, and knowledge of your policy information are essential for a successful theft claim.
Last but not least, spending money on preventative security measures may lower your insurance premiums in addition to discouraging criminals. Texas homeowners should get in touch with us to evaluate their policy to be sure they have enough theft coverage.
FAQs
In Texas, Is Cash Theft Covered By homeowners’ Insurance?
Large sums of cash are typically not fully insured because most policies only cover a limited amount of cash, typically $200* or less.
Does Texas Homeowners Insurance Cover Identity Theft?
No, homeowners insurance usually does not cover identity theft; special identity theft protection products are required for that.
What If The Thief Is A Member Of My Family Or Someone Known?
Although coverage varies and may have limitations, certain policies may still cover theft by known individuals. Carefully review the specifics of your policy.
