Does Homeowners Insurance Cover Theft Outside the Home?Posted by Prince Bernstein on March 16th, 2021 Homeowners insurance is a must have for every home owner. A home without homeowners insurance is like a bank account with nothing in it. If you do not secure your home, then you are putting yourself and your family at risk by not providing insurance coverage for your belongings. In the unfortunate event that something were to happen to the possessions inside your home, you would not be covered. It is very important to make sure that you know what your homeowners insurance covers. When a home is insured it provides security and protection to the home owner. This is done through a variety of means. One of the main ways that insurance helps protect the home is by paying the cost of replacing the stolen possessions. The cost of replacement varies greatly depending on the type of item that was stolen. This means that the price of your homeowner's insurance will depend on the value of the items that you take with you when you leave the home. Contents of the home are also protected by insurance. These are commonly known as the personal property of the home owner. This means that if a burglar steals anything from your home or your belongings inside the home, then you will be able to get them replaced. This will mean that you will be able to live normally like everyone else without worrying about the cost of replacing the items that you have taken. Many people think that their pet is covered by their homeowners insurance policy. Pets are animals, just like our families pets. Therefore, they too should be protected just like our homes. However, this is not always the case. The way that the insurance companies determine how much they are going to pay for this type of loss depends on how the pet was insured when the owner took out the policy. If the pet was insured at the time it was purchased, then that is usually how the insurance company determines how much they will pay you for replacing the items. On the other hand, the insurance company may consider the worth of the contents of the home when they are trying to determine how much they will pay you. Contents coverage will vary depending on the company that you are working with and the value of the items that you have in your home. If you own a home and have expensive jewelry, art work or other items inside of your home, you should be very happy to know that your homeowner's insurance will protect these types of items. There are even times when you can replace the items yourself instead of having to hire an art restorer. In fact, there are companies that will even come to your house and evaluate the damage and tell you what they are willing to do to help you save money on your insurance premiums. Another type of theft outside of the home that insurance companies won't cover is damage caused by fires. No matter how big the fire may be, your home will typically be covered no matter what the cause of the fire. This is because your home is considered a total loss for insurance purposes. With this type of protection, you won't have to worry about losing all of your valuable possessions if your home burns down to the ground. In some cases, if the fire was not discovered within the confines of the home, the owner may be responsible for adding these items into the loss account of the insurance policy. Homeowner's insurance policies will usually provide coverage for any damages that occur to the landscaping, as well as the outside of your home. If you have any porches or patios at your home, you should check with your insurance agent to see what types of coverage you have available to you. Some policies will give you additional coverage for such things as smoke damage or mold damage. The type of coverage that you choose will depend upon the value of your home and the amount that you pay per month. As you can see, it is pretty important that you know what your homeowners insurance covers so that you can avoid having to spend money on items that aren't covered by the policy.Like it? Share it! |