Renters Insurance and Theft
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Does Renters Insurance Cover Theft?

Does renters insurance cover theft

No one wants to deal with the unfortunate incident of a theft or burglary, but it can happen – and knowing you have renters insurance can be a huge relief. Your renters insurance policy may cover your personal possessions – such as those listed below – in the event someone breaks into your home or your car (with the exception of pre-installed systems):

If you have just experienced a potential theft, contact the police immediately and file a police report. This is a crucial step in filing a renters insurance claim. 

Reduce the chances of theft with these tips

While you can’t always prevent theft, there are certain safety measures you can take to help avoid a burglary:

Theft isn't the only damage that renters insurance can protect you against. Learn more about the variety of damages renters insurance covers so you can properly safeguard your belongings.

Does renters insurance cover bike theft?

If your bike is stolen, your renters insurance policy may reimburse you for the cost. However, the amount you receive depends on the type of policy you have. A replacement-cost policy generally will cover the cost of a new bike that is of the same quality as the original, whereas actual cash value insurance can help cover the amount that the bicycle was worth at the time it was stolen.

While replacement cost coverage may be a bit more expensive, it could prove more beneficial in certain circumstances.

Be sure to keep your receipts when purchasing a new bicycle, as it will make the claims process move more quickly and efficiently. You should also add the bike to your home / apartment inventory list.

Tips to keep your bike safe and secure

It’s important to take the proper precautions to keep your bike safe and reduce the chances of it being stolen:

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