You just got out of the gym and discovered that someone had jacked up the trunk of your car and stolen your set of golf clubs. Alright, you think, no big deal I’ll call the police and then my car insurance company and get it all settled. Then you discover that car insurance doesn’t cover your property inside the car! There goes your nice $500 set of golf clubs… or are they?
Your property is protected by your renters or homeowners insurance, even if they were stolen off your property! Your particular insurance policy may have certain limits (such as a certain distance from your home, what countries, etc) but in general your property is protected against theft and damage (but you are subject to your deductibles). Now, one notable exclusion is a typical $2,000 limit on items such as art and jewelry. In order to have those covered you usually purchase something called a rider or a floater - which isn’t subject to deductibles.
If you are the unfortunate victim of a theft, immediately report the theft to the authorities. Record the time, date, and what’s missing (do this also if property has been damaged or destroyed, but you won’t need to call the police unless you suspect criminal activity) - report this immediately to your insurance provider.
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