How to Use Your Burglary Insurance

An invasion of your home can be disturbing. Yet, burglary insurance can help ease the loss and stress if a thief breaks into your home and steals your belongings. Many who experience a home invasion should understand where to turn and how to make an insurance claim.

Contact the Authorities

The first step to making a burglary insurance claim is to contact the police and file a report. Take a clear inventory of what was stolen or damaged and compare it to your list of insured items. Then, contact your insurance provider to start the claim process. Some companies have a time frame on how long you have to wait to make a claim, so it is important to understand this information up front.

Document the Damages

Once you have alerted the police, you will need to make a list of all that was damaged during the burglary in order to continue with your burglary insurance claim. Document any property damage that was a result of the theft, such as a broken window or door, and take pictures as evidence. Some insurance companies will ask for pictures of the damages to make a claim adjustment. Additionally, you may want to consider including repairs that will make your home safer and prevent future thefts.

Make a List of Stolen Possessions

Your should have a detailed list of items that you specified to be covered when you drafted up your burglary insurance policy. This list will help guide you to determine what stolen items and possessions you can claim. Take pictures and provide necessary paperwork detailing the losses in order to make your insurance claim.

Contact Your Insurance Provider

Once you’ve determined the list of stolen possessions that you wish to claim and you have received estimates for cost of repairs related to any damages from the theft, you should contact your insurance provider to complete the burglary insurance claim. The amount you should expect to receive will depend on the type of policy you have in place. Usually, there is no deductible for depreciation or repairs to the damages.

Understand Your Personal Property Coverage

Your burglary insurance claim payout will depend on the type of personal property coverage you have on your belongings. If you have replacement cost coverage, then you will most likely receive the value of the stolen item at the exact cost it would be to purchase the item today. If you have actual cash value coverage, then you should expect to receive payment based upon the item’s depreciation and value of the actual item that was stolen.

Completing the Claim

Once you’ve processed your burglary insurance claim, you will need to pay your deductible in order to receive the payout of your claim. This amount should have been determined when you purchased the policy. If you are unsure, contact your insurance provider to find out what your deductible cost is on this sort of claim.

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