Theft can be a devastating experience, leaving you with financial losses and security concerns. While most insurance policies cover stolen property and related damage, disputes may arise, making it difficult to recover fully.
At FairVantage, we help homeowners and business owners navigate the claims process to ensure they receive a fair and accurate settlement.
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 – Insurance adjusters may undervalue losses. A FairVantage expert ensures all stolen property and damage is accounted for.
7️⃣ Review the Settlement Offer – If the insurance company underestimates your loss, you have the right to dispute the payout.
How FairVantage Can Help
At FairVantage, we:
✔️ Ensure all stolen property and damages are properly documented.
✔️ Review your policy to maximize coverage for personal or business losses.
✔️ Negotiate with insurance adjusters to secure a fair and accurate settlement.
✔️ Assist in disputes, appraisals, and mediation if your claim is underpaid.
