Theft can be a devastating experience, leaving you with financial losses and security concerns. While many insurance policies cover stolen property and related damage, the claims process can sometimes involve documentation challenges or questions of coverage.
At FairVantage, we help homeowners and business owners navigate the claims process by documenting losses and supporting a clear, accurate resolution.
What Does Insurance Cover?
Most homeowners' and commercial property insurance policies cover theft-related losses, including:
✅ Stolen Personal Property – Coverage includes stolen electronics, jewelry, appliances, clothing, and furniture.
✅ Business Inventory & Equipment Theft – Commercial policies cover stolen inventory, tools, computers, and office equipment.
✅ Forced Entry Damage – Covers broken windows, doors, locks, and security systems damaged during a burglary.
✅ Stolen Cash & Valuables – Some policies cover stolen cash, but limits often apply unless additional coverage is in place.
✅ Identity Theft Coverage – Some policies offer protection for stolen financial information, fraudulent transactions, and identity theft recovery services.
✅ Temporary Relocation Costs – If your home or business is unsafe due to theft-related damage, your policy may cover temporary housing or business relocation expenses.
Common Exclusions & Limitations
🚫 High-Value Item Limits – Jewelry, collectibles, and fine art may require additional endorsements for full reimbursement.
🚫 Business Inventory Restrictions – Some policies may limit coverage for business assets unless specifically scheduled.
🚫 Unforced Entry Exclusion – Theft claims may be denied if there was no evidence of forced entry.
🚫 Vacant Property Exclusion – If the property was vacant for 30+ days, theft coverage may be restricted.
🚫 Delayed Reporting – Insurance companies may deny claims if theft is not reported promptly to both police and the insurer.
Steps to Filing a Theft Insurance Claim
1️⃣ Call Law Enforcement – Report the theft to police immediately and obtain a copy of the police report.
2️⃣ Document the Loss – List all stolen items and provide receipts, serial numbers, or appraisals if available.
3️⃣ Take Photos & Videos – Document any property damage caused by the break-in or theft.
4️⃣ Secure the Property – Replace broken locks, board up windows, and install temporary security measures.
5️⃣ Notify Your Insurance Company – File the claim as soon as possible and provide detailed documentation.
6️⃣ Request a Professional Claim Review – Some losses may be undervalued or missed. A FairVantage expert ensures all stolen property and damage are accounted for.
7️⃣ Review the Settlement Offer – If you believe your losses were not fully addressed, you can request additional review or pursue resolution options such as appraisal.
How FairVantage Can Help
✔️ Ensure all stolen property and damages are properly documented.
✔️ Review your policy to help clarify coverage for personal or business losses.
✔️ Collaborate with involved parties to support a fair and well-documented resolution.
✔️ Assist in appraisals or mediation when further review is needed.
