Does Renters Insurance Cover Theft?
- Renters insurance covers stolen belongings, whether the theft happens inside your home or away from it.
- Adding replacement-cost coverage helps you get the full value of stolen items.
- Check your policy limits and consider extra coverage for high-value items to make sure everything’s fully protected.
Is theft covered by renters insurance?
Yes — renters insurance typically covers stolen belongings (but not your car), whether the theft happens inside your home or somewhere else. That’s because theft is a covered peril under your policy’s personal property
Your policy will reimburse you for the loss (up to your coverage limits) based on the value of the stolen items. Keep reading to learn how renters insurance protects your property in different theft situations. The reach of your coverage might surprise you.
💡 Zebra Tip: Check your coverage and upgrade if needed
Renters insurance covers stolen belongings at home or away, but most policies only pay actual cash value (what your items are worth today). If you own pricier things (like jewelry, tech, or bikes), make sure your coverage limits are high enough. Consider adding replacement-cost coverage so you can replace stolen items with new ones.
How much will renters insurance cover after a theft?
The amount renters insurance will cover after theft is based on your policy's personal property limit. Personal property coverage usually equates to 10% of your liability coverage, a share that can be adjusted to suit your needs, depending on the value of your personal belongings. For instance, if your liability limit is $100,000, your personal property limit might be $10,000 by default. A few things to keep in mind:
- Each category of property might have different "sub-limits". For example, while $10,000 of your property might be covered, jewelry might only be limited to $1,500.
- Renters insurance will reimburse you for your stolen items on an actual cash value basis, which deducts depreciation.
| Sub-limit | Property | Limitations |
|---|---|---|
| $200 | Money, gold, coins | |
| $1,500 | Jewelry, watches, furs | Theft only |
| $1,500 | Watercraft, trailers | Theft only |
| $2,500 | Firearms | |
| $2,500 | Silverware | |
| $2,500 | Business property | On-premises |
| $500 | Business property | Off-premises |
| Varies | Electronics |
Depreciation means your belongings lose value over time as they age or wear out. So if your insurer pays “actual cash value,” you’ll get what the item is worth today, not what you originally paid.
How to ensure you have enough renters coverage
Set your renters personal property limit high enough to cover your most expensive or valuable items should they be stolen from your home. If you have numerous valuables, consider adding an endorsement or rider to be paid out on a replacement cost basis instead. You don't want to be shocked to find your payout is less than expected and not sufficient to cover your losses.
A good way to estimate your coverage is to add up the value of everything you own: furniture, clothes, electronics, kitchen gear, and even décor. Most renters find their stuff is worth between $20,000 and $40,000, but yours might be higher if you own more tech or jewelry.
Your coverage limit should be high enough to replace all your belongings at once after a total loss (like a fire or major theft).
Is Renters Insurance Worth It?
Renters insurance is a great and affordable way to protect you and your belongings
Does renters insurance cover theft outside my home?
Yes. Also known as off-premises coverage, renters insurance will cover your stolen items even if they were not inside your home at the time of theft. For example, if your bike is stolen from your front yard, it would be eligible for replacement by your renters insurance. Additionally, renters insurance coverage follows you even while you’re not at home. If your phone is stolen while you’re running errands, you could file a claim for its replacement with your insurer.
💡 Zebra Tip: Consider your deductible before filing a theft claim
Your deductible is the initial amount you pay when filing a renters insurance claim. If a stolen item's value is below your deductible, it's often better to cover the cost yourself to avoid potential premium increases. For instance, with a $500 deductible and a $3,000 stolen bike, it's worth filing a claim, especially with a replacement-value endorsement that guarantees you the full $2,500. However, it's likely not worthwhile if the bike's value is less than your deductible.
Does renters insurance cover auto theft?
No, renters insurance does not cover auto theft, including theft of your car's parts such as its catalytic converter. If your car is stolen or vandalized, that’s a matter for your auto insurance to help you settle. However, if belongings are stolen out of your car, renters insurance can help you replace those items.
If your car window was smashed and your laptop was stolen, you would need to get both your car insurance and renters insurance involved by filing separate claims for the property damage and theft. Your car insurance will cover the broken window as an act of vandalism, while your renters insurance will reimburse you for your stolen property up to the coverage limit.
Is Car Theft Covered by Auto Insurance? | The Zebra
Car insurance does cover vehicle theft, but only if you have comprehensive coverage. Explore how to navigate the claims process if your car is stolen.
Does renters insurance increase after a theft claim?
According to The Zebra's data, a renters insurance theft claim makes the most impact on your premium. It can increase your rate by about 25%.
While the average cost of renters insurance is relatively affordable at $20 per month, it never hurts to shop around for a better rate, particularly in the aftermath of a settled claim.
| Number of Claims | Average Annual Premium | $ Difference |
|---|---|---|
| No Claims | $246 | - |
| 1 Theft Claim | $308 | +$62 |
| 2 Theft Claims | $381 | +$73 |
Get a renters quote today!
Renters insurance and theft FAQs:
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About The Zebra
The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.
- The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
- The Zebra’s insurance editorial content is not subject to review or alteration by insurance companies or partners.
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- The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.