Your auto insurance company will pay for damage done to your car and will also pay if your entire car is stolen, but what if a few important items were stolen from the car while in the parking lot of the mall or another public area? This is a common concern for many drivers because some cars hold items of especially high value that would be devastating to lose completely due to theft. This could include a top notch sound system, expensive electronics, multiple shopping bags, wallets, and so on.
Unfortunately, most insurance plans are not designed to cover the cost of stolen personal property in most circumstances. Your best bet is to avoid leaving valuable items in your car, or hiding them from view when you leave the car to prevent the appeal for theft. Additionally, make sure to always roll up the windows and lock your doors when leaving the car to prevent the likelihood of theft. If theft is an especially serious concern, you might want to consider installing a car alarm system to add extra security to your vehicle.
Although this isn’t the best news for drivers, you may still be in luck if you own a homeowners insurance policy. Most standard homeowner’s insurance policies will, in fact, cover almost all of your personal property. Your personal property would naturally include your car, boat, hotel room, and other places where you could be at risk for theft.
Although this is good news for most drivers, it’s important to weigh the pros and cons. The deductible for most homeowner’s insurance policies is relatively high, which means that you will want to take this cost into consideration with the cost you would have to pay to replace an item that was stolen out of your vehicle. If the cost for the deductible is significantly higher, it may be in your best interest to forego the homeowner’s insurance policy and practice cautionary measures on your own to prevent theft.