There are more and more frequent news about a series of robberies in homes in a certain area, or muggings in the street, either to young people or even to the elderly. Thanks to certain guarantees of our home insurance, these losses can be compensated or indemnified by the insurance company. We are going to explain the nuances that may exist in the policy, in order to understand what is covered and what is not.
Home insurance coverage
Indeed, the homeowner’s policy offers coverage in several cases:
- Theft within the home
- Burglary or robbery both inside and outside the home
The difference between the two terms is simple: in theft/robbery force is used in things or intimidation of persons; while theft is a misappropriation, normally attributable to an oversight on the part of the owner of the stolen property. For this reason, while robbery is covered without problems, theft has many more limitations and exclusions.
Limits and details on these guarantees
These guarantees must be consulted in our home insurance for the following reasons:
- What are the applicable sublimits for each concept? This is the maximum indemnity that the company would pay for: jewelry, cash, cell phone…
- If it covers damage to the lock and the change of the cylinder and replacement of keys
- If it provides coverage for objects of special value, as well as jewelry that is not in a safe and, again, the existing sub-limits. There are companies that, unless you request it, do not offer warranty on these goods.
There is no doubt that we must review these issues to know whether we have a comprehensive policy or not.
How to act in the event of a robbery?
The first thing you should do for insurance purposes, apart from calling the police if it has been in your home, is to take pictures. Apart from the police proceedings that the insurance company may require, it is always good to be able to prove the damages suffered, broken objects, etc. For this reason, it is highly recommended that we have photos of the valuables and jewelry that we have in our home.
As can be seen, these guarantees are different in each company, since each one “packages” the theft coverages in a different way, and in many cases the client is obliged to contract voluntary, optional guarantees, which in most cases are unknown and mean that in the event of a loss there are many gaps in the policy.
If you want to avoid it, contact us and we will help you choose the home insurance that best suits your needs. With more than 30 years of experience in PIB Group Iberia we have handled countless theft claims.
