Does renters insurance cover theft?

Renters insurance is a safeguard against many of life’s unexpected moments, including theft. Whether it’s that bike you’re proud of, your essential electronics or other cherished belongings, renters insurance has you covered.

Does renters insurance cover theft outside of the home?

Say your purse is stolen at a coffee shop or someone swipes your laptop at the airport. Are you covered for events like these? With a renters policy from American Family Insurance, you’d have protection that follows you anywhere you go — even while traveling or on vacation, domestically or abroad!*

Let’s take a closer look at how renters insurance can protect you from theft.

What stolen items are covered by renters insurance?

Your renters insurance policy is designed to cover your personal property if it is stolen. This includes:

• Furniture
• Clothing
• Jewelry
• Electronics
• Wallet

To learn if a specific item is covered by renters insurance, reach out to your American Family Insurance agent.

When a theft occurs, knowing the value of your property is crucial for accurately filing a claim, which you can do either online or by calling your insurance agent.

Keep in mind, you need to pay your deductible before your insurance will cover your stolen belongings. Typical renters insurance policies offer $500 and $1,000 deductible options. If the value of the stolen items is less than your deductible, filing a claim might not be beneficial.

To help with unexpected events like theft, American Family offers a diminishing deductible option that can lower your deductible and help you better prepare for out-of-pocket costs when you have a claim.

Does renters insurance cover bicycle theft?

Yes, your bicycle or pedal-assist e-bike is covered by your renters insurance if it’s stolen.

Does renters insurance cover stolen packages?

Maybe, but coverage is subject to your policy limits. Consider making a claim if the value of your stolen package is more than your deductible. To reduce your deductible amount, consider diminishing deductible coverage.

How much does renters insurance cover for theft?

The coverage amount for theft depends on the specifics of your policy. There is typically a standard limit based on the total value of your possessions, but many policies also have sub-limits associated with the type of property stolen. For example, special categories such as firearms and tools have unique limits for losses caused by theft.

By creating a detailed inventory of your belongings, adding up the value of your personal property, and discussing your policy limits with an agent, you can help ensure you have enough coverage to replace your belongings if they’re stolen.

What types of theft does renters insurance cover?

You’ll have peace of mind knowing your renters insurance covers most types of theft. Here are a few scenarios where your coverage can protect you:

• In-home burglary: If your apartment is broken into and items are stolen, renters insurance can help pay to replace them.
• Travel theft: If your laptop is stolen from your car while running errands, renters insurance will help cover the cost of replacing it.*
• Vacation theft: If you’re pickpocketed or your hotel room is broken into while on vacation, your renters insurance can assist, even when you’re away from home.*

Pro tip: Take photos of your personal property before traveling to easily reference any items for claims if they’re stolen.

Additional coverage for renters insurance

Renters insurance can cover more than just your physical belongings. Consider these optional coverages for comprehensive protection against the unexpected:

• Identity theft restoration: Our Identity Fraud Expense Coverage assigns someone to help get your life back to normal if your identity is stolen.
• Credit monitoring: We’ve teamed up with CyberScout to provide a credit monitoring service that helps protect your finances by keeping an eye on your credit score and detecting fraudulent activity.
• Pet insurance: Pet coverage pays certain veterinary costs and final expenses up to $1,000 if your pet is hurt in a covered loss.
• Home-based business coverage: You may be eligible to add extra liability and business property protection if you run a small-scale business out of your rental.
• Diminishing deductible coverage: This provision helps ease the burden of an unexpected theft by reducing your out-of-pocket deductible amount.
• Electrical appliance coverage: If you own top-line appliances or expensive electronics — like TVs or home theater equipment — and you experience a loss caused by equipment breakdown, this coverage can help.

Protect against the unexpected

Dealing with theft can be challenging, but renters insurance is here to help protect the things that matter to you.

If you’ve experienced theft at your rental or while out and about, file a claim online or with your American Family Insurance agent right away. In addition, learn more about how you can stay protected with our apartment safety tips.

Have a question about renters insurance? Check out our renters insurance FAQs and get a quote online.

This article is for informational purposes only and based on information that is widely available. This information does not, and is not intended to, constitute legal or financial advice. You should contact a professional for advice specific to your situation.

This information represents only a brief description of coverages, is not part of your policy, and is not a promise or guarantee of coverage. If there is any conflict between this information and your policy, the provisions of the policy will prevail. Insurance policy terms and conditions may apply. Exclusions may apply to policies, endorsements, or riders. Coverage may vary by state and may be subject to change. Some products are not available in every state. Please read your policy and contact your agent for assistance.

*Regular coverage limits do not apply when traveling outside of the country. Coverage is limited to 10 percent of your personal property coverage limits.