According to the FBI, there are roughly 2,000,000 home burglaries reported in the U.S. each year. But because there usually aren't witnesses or much physical evidence, law enforcement typically clear only 13 percent of break-ins. While this may be an unnerving statistic, it doesn't mean you have to face these risks alone. Find out how homeowners insurance can offer a much-needed layer of protection against personal property theft.
does homeowners insurance cover theft?
The average homeowners insurance policy covers most personal belongings against theft up to your chosen coverage limits. In the event of a home burglary, for instance, personal property coverage would help replace or reimburse you for stolen items, and dwelling protection would help cover repairs or replacement for any resulting property damage.
What's more, your home policy can also kick into gear if a thief makes off with some goodies from your garden. At Esurance, you can get financial protection — up to 5 percent of your dwelling coverage limit — for your trees, shrubs, and other plants. So if you carry $100,000 in dwelling protection, your leafy friends would be covered up to $5,000 (with no more than $500 for any one plant, regardless of coverage limit).
If you're a policyholder at Esurance and have questions about theft insurance (or questions about anything, for that matter), feel free to give one of our licensed agents a call at 1-800-ESURANCE (1-800-378-7262), where we're available to help at these times.
Off-premises coverage for homeowners insurance
Unlike auto coverage, homeowners insurance can follow you out the door. A standard homeowners policy includes off-premises coverage, which means you and your family could be financially protected against theft or vandalism virtually anywhere in the world.
A common example of this is stolen or lost luggage that's checked by an airline. If you opt to have your luggage insured with the airline, you could be reimbursed up to a certain limit, but you'd also be protected by off-premises coverage in your homeowners insurance policy. Same goes for your college student living in a dorm. If their laptop is stolen at the library when they're studying for finals, you'd likely be covered for it.
insurance endorsements for your most valuable items
As we mentioned earlier, a standard homeowners policy comes with coverage limits, and some of your most valuable items — including jewelry, fine art, antiques, or home office equipment — may surpass those limits. And unfortunately, it comes as no surprise that valuable items are coveted by thieves.
But don't fret just yet. Many home insurance companies — like Esurance — offer what is called an insurance endorsement. If a certain prized possession exceeds the normal limits of your policy, an endorsement could step in to lend an extra boost of protection if it's ever stolen, lost, or damaged.
The best way to find out what your belongings are worth and whether to increase coverage is by creating a thorough home inventory. Because many valuables appreciate over time, it's good measure to get them reappraised every now and again to ensure you have adequate coverage. Likewise, it's smart to maintain your home inventory on a regular basis to make sure any new belongings are accounted for in the event of a claim.
homeowners insurance and theft of cash
Stowing large amounts of cash underneath the mattress or in cereal boxes is a strategy some Americans use if they want fast cash on hand or are wary of financial institutions. But having large amounts of money lying around is never a good idea — if burglars ever make off with your secret stash (and they do know where to look), it might not be covered by homeowners insurance.
An insurance policy isn't designed to cover legal tender (i.e. money, checks, bank notes, traveler's checks, coins), since banks are federally insured for that purpose. In addition, there's no documentation proving the cash was there during the theft. Case in point: large sums of money are safest in the bank.
home safety features discount from esurance
According to the FBI, a home burglary occurs every 13 seconds in the U.S., and is among the most common threats to the home. If that statistic isn't ominous enough, a home that isn't furnished with a security system is 300 percent more likely to be robbed.
So not only does having a security system in place greatly reduce the risk of a break-in, but Esurance policyholders could also score with our Home Safety Features discount. That's right — by outfitting your home with video surveillance, alarms, and other types of monitoring systems, you're taking effective measures to prevent a home burglary, and could stack up some sweet savings on your homeowners insurance premium in the process.
get reliable homeowners insurance coverage from esurance
Having to deal with theft of any kind can be a trying time for anyone, which is why you want reliable homeowners coverage you can trust. With an A+ rating from A.M. Best*, financial backing from Allstate, and world-class customer service — you can count on Esurance to have your back every step of the way.
When you get your fast, free homeowners insurance quote today, don't forget to check out our wide range of coverage options that can be customized to the unique needs of you and your household. Plus, we offer many other money-saving perks so you can spend your hard-earned dough on the things that matter most. For more information, just give us a call at 1-866-439-5633, where our licensed insurance agents are standing by to help and answer any of your questions.
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