Does renters insurance cover theft?

You probably already know that renters insurance can help you replace your things if they’re accidentally damaged or destroyed. But what if the loss isn’t exactly an accident? What if someone very intentionally stole your TV, your laptop, or your expensive jewelry?

The answer to that question depends on your policy. While all renters insurance policies cover theft, some have coverage limits that aren’t enough to replace those high-value items.

So if you’re considering taking out a new policy (or just want to better understand the one you have), keep reading to learn what to look out for in the fine print.

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Does renters insurance cover theft?

Most renters insurance policies will cover theft that occurs in your home by reimbursing you for the replacement cost—or at least part of the replacement cost, depending on your coverage limits.

And this is where things can get confusing. Even if your policy includes, say, $30,000 of “contents coverage,” there are typically sub-limits within that amount for specific types of items. For example, many basic renters insurance policies will only reimburse up to $1,500 for jewelry or watches.

So your favorite earrings? Probably covered. But that sparkling engagement ring from the love of your life? A basic renters insurance policy will probably only cover a fraction of the replacement cost.

But basic policies aren’t your only option. We also offer additional coverage with Power-Ups to make sure you can easily replace high-value items them if they’re stolen (or otherwise damaged or destroyed).

The Valuables Protection Power-Up adds extra coverage for items ranging from jewelry to expensive camera gear to designer shoes. If any of those things are stolen, you’ll be reimbursed for the full value, minus a deductible of $100.

The Portable Electronics Power-Up, then, lets you purchase additional insurance specifically for your electronics. This can cover your iPhone, laptop, and other personal tech items, whether they’re stolen, destroyed, or fall victim to a shattered screen after one too many collisions with the floor.

What about theft outside of your apartment?

You’re not always in your apartment, and neither is your stuff. So what happens if your bike is stolen from outside your office building? Or if someone snags your luggage at the airport?

Depending on your plan, you might be covered.

While some renters insurance plans only protect your things at home, that’s not the case with Jetty. We offer the same protection no matter where you (and your things) are, and that includes protection from theft.

Theft and reasonable care

As a caveat, having renters insurance doesn’t mean you should be careless with your things. After all, dealing with theft is never fun—even if you know that your policy will help you replace stolen items.

Plus, your claim could be rejected if you didn’t take “reasonable care” to protect your belongings from theft.

If you knowingly leave your apartment door open while you’re out of town for two weeks, for example, it’s unlikely that you’d be covered.

But as long as you take reasonable precautions, a renters insurance policy can protect you from suffering significant financial loss from theft.