Having something stolen from you is never a pleasant experience. And then figuring out a way to replace the stolen property is another challenge. In these situations of theft, renters insurance can help. Most policies for renters insurance cover theft. It is always good practice to review your policy with your licensed insurance agent to ensure it covers the items and situations important to you. Additionally, you will need to value your property so that the policy limits you select will protect you.
Most renters insurance policies will cover personal property that is stolen from within your rental unit, car, and even storage unit (if you have one). Theft of the actual vehicle or storage unit (i.e., the physical structure) is not covered under renters insurance. These items may be covered under a different type of policy, like automobile or personal property insurance. It is the “stuff” that is stolen from within that renters insurance covers. For example, if your car is broken into and your laptop is stolen from the back seat, then your renters insurance policy will likely cover the stolen laptop up to your policy limit and after the deductible payment.
Depending on your renters insurance policy, coverage of stolen property would be up to your policy limit after any deductible. When you design your renters insurance policy, be sure to set limits that are in line with the protection needed. This requires you to place a value on your personal property.