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Does Renters Insurance Cover Theft? (2024 Guide)

Determine what essential theft protections renters insurance policies deliver, limits around high value items, and exclusions for related-party claims against baselines.

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via Lemonade
Updated: Apr 16, 2024
Written by
Jacqueline DeMarco
Written by Jacqueline DeMarco Author

Jacqueline DeMarco is a contributor for Quartz Advisor who has worked with more than two dozen financial brands, including LendingTree, Capital One, Credit Karma, American Express, Chime, Bankrate, CreditCards.com, SoFi, and Northwestern Mutual. She provides thoughtful content to give readers insight into complex topics that they likely didn’t learn in school.

Edited by
Kelly Larson
Edited by Kelly Larson Senior Editor

Kelly is an editorial leader and collaborator with over 14 years of experience creating and optimizing data-driven, reader-focused digital content. When he’s not helping readers make more informed financial decisions, Kelly enjoys running, taking on DIY projects, and trying to make his kids laugh.

Being a victim of theft can leave you shaken up. Thankfully, if you have renters insurance, you can receive a reimbursement for some or all of your losses. There may be some coverage limits for high-value items like electronics or jewelry, so always confirm how much coverage you have and if you need to buy any endorsements to fully protect yourself. Our guide provides insight into how your renters insurance policy can step in to save the day if you’re the victim of theft.

Baseline Personal Property Protections

Typically, your renters insurance policy provide coverage for items that are stolen, not just from the property you rent, but from your car, a storage unit, or even while you’re traveling. There are limits on how much of a reimbursement you can receive, so make sure you have a high enough replacement value limit to fully protect your belongings including furniture, appliances, electronics, and collectibles. You can usually adjust your policy to give you more coverage or purchase an endorsement like scheduled personal property endorsements or increased coverage limits for specific items.

Commonly Covered Events

Commonly covered theft-related events under basic renters insurance include:

  • Burglary
  • Theft of personal belongings from the insured dwelling or vehicle
  • Vandalism resulting in stolen property
  • Robbery occurring inside or near the insured residence
  • Theft of belongings from a storage unit covered by the policy

Special Exclusions Impacting Claims

If you own multiple expensive items, pay attention to any exclusions in your policy. You may need to buy an add-on or rider to file claims for high-value jewelry, collectibles, or cash. Expensive belongings can surpass standard coverage limits (think a diamond engagement ring), and if you don’t have the right endorsements on hand, you may find yourself uninsured when a theft occurs.

Note too that most renters insurance policies typically exclude coverage for theft committed by relatives living with the policyholders. If a theft occurs and it’s found that a relative was involved, the claim may be denied.

Commonly Excluded Events

Not all theft events receive coverage. Some commonly excluded events under basic renters insurance include:

  • Theft of high-value jewelry, collectibles, or cash exceeding standard coverage limits without appropriate endorsements or riders
  • Theft of belongings from unsecured or unlocked vehicles
  • Theft resulting from negligence or voluntary parting with property
  • Theft committed by relatives residing with the policyholder

How To Get Comprehensive Theft Coverage

“When scoping out renters insurance, you want to make sure everything blends together just right,” Bonnie J. Walker, AIC, CLX Technical Lead, Property at Lemonade, shares. “First thing to consider is what are your coverage needs? Make a quick inventory of your contents in your apartment being sure to include those expensive laptops, bikes, and gaming equipment. Jewelry and designer clothing can also add up fast if you have a loss, so make a mental note of these specialty items when choosing the policy limit.”

Walker also recommends doing your research on policy premiums, as the cheapest may not always be the best choice for you. Consider if the carrier offers additional coverages for the things most important to you like computer equipment or musical instruments.

To enhance theft coverage beyond basic coverage when getting a new renters insurance policy, policyholders can add endorsements tailored to their needs and valuables to provide additional protection against various theft-related risks. Endorsements commonly offered to improve theft coverage include:

  • Scheduled personal property endorsements
  • Increased coverage limits for specific items
  • Identity theft coverage
  • Watercraft and recreational vehicle coverage

How To File a Theft Claim

In the unfortunate event of a theft, it’s helpful to be familiar with the claim-filing process. Here are the steps you can generally expect to take:

  1. Contact the police: Before connecting with your insurance company, you need to immediately report the theft to the police. Obtain a copy of the police report as evidence for your insurance claim.
  2. Notify the insurance company: Inform your renters insurance provider about the theft and provide them with necessary details such as the date of the incident and a description of the stolen items.
  3. Document stolen items: Create a detailed inventory of the stolen possessions, including photographs, receipts, and any other relevant documentation. This step will help you establish ownership and value.
  4. Cooperate with the investigation: You’ll need to work closely with your insurance company’s claims adjuster. Provide them with any additional information or documentation they request to help process your claim efficiently.
  5. Submit your claim: Once you complete the necessary claim forms provided by your insurance company, including the itemized list of stolen belongings and any supporting documentation, you can move forward to officially submit a claim.

Tips for Preventing Theft

As helpful as a renters insurance policy can be when a theft does occur, the obvious better choice is avoiding theft in the first place. To help protect yourself and your belongings, consider taking extra safety measures. Always double-check that doors and windows are locked before leaving the house, especially when leaving for extended periods of time. You can also install security cameras and alarms, and consider hiding valuables so they aren’t sitting in plain sight. Keep a running inventory of your belongings to make filing claims easier if you do ever fall victim to theft.

Taking extra safety precautions will not only reduce the risk of claims, but can also make renters insurance cheaper through discounts.


Frequently Asked Questions About Theft Claims Under Renters Policies

What is typically not covered by renters insurance?

Generally, you should not expect your renters insurance policy to cover damages or losses caused by floods or earthquakes, which require separate policies. Intentional acts of damage or harm, such as vandalism committed by the policyholder, also don’t receive coverage.

Does renters insurance protect the tenant by covering damage or theft?

Renters insurance covers damage to the policyholder’s personal belongings and provides coverage for theft of their possessions within the terms and limits of the policy.

Does renters insurance cover stolen items while traveling?

Renters insurance typically covers stolen items while traveling, but coverage may vary depending on the specific policy and circumstances of the theft. Some policies may have limitations or require additional endorsements for coverage outside the insured dwelling.

Does renters insurance cover roommate theft?

Renters insurance typically does not cover theft committed by roommates if they’re listed on the policy. If they aren’t included on your renters insurance policy, your insurer may be able to help. If one roommate steals from another, the victim may need to pursue legal action or seek restitution separately from the insurance policy.