Do you have home insurance? Does your homeowners policy cover your car if it’s stolen from your driveway? This is a very good question! We’ve created this article to help you understand whether or not home insurance covers car theft.
When Homeowners Insurance Will NOT Cover Car Theft
If you have home insurance and your home is broken into and a car is stolen, your home insurance will not cover this. This means that if someone broke into your home and stole your car from in front of it, neither the home nor the contents would be covered by an insurer because thieves don’t usually break into homes to steal cars! The same goes for other vehicles such as jet skis or motorcycles – these are considered ‘contents’ under most homeowners policies so they’re also un-insured if taken from outside.
Homeowners Insurance WILL Cover Theft from the Car
However, if a thief breaks through locks or windows to take items OUTSIDE your home that are stowed away in your car, then those losses would be covered under home insurance. Standard home insurance policies cover outside property up to a set amount, usually around $1000 or more in the United States – that’s how much you’d get if something was stolen from your car if it were parked at your residence.
Is Car Theft Covered by Auto Insurance?
Car theft is typically covered by auto insurance if it happened when your car was parked on public property (e.g., street parking), but not necessarily at home.
Auto insurers will require you to have comprehensive coverage as part of their standard policy before they’ll pay for this type of claim. Comprehensive covers cars against damage and theft both at home and on the road, so most people already have this as part of their regular auto insurance policy.
If your car is parked on public property and it’s stolen, you’ll need to call the police so they can document what happened – most insurers won’t pay for a claim without a valid police report!
What is Comprehensive Home Insurance?
Comprehensive home insurance adds to your home’s policy and covers damage from theft as well as vandalism, fire, weather (like hail), burst pipes, wind, car crashes into the house, or falling objects like trees.
Home Insurance for High-Risk Locations
If you plan on parking a car outside of your home long term (e.g., in a driveway) then it would be wise to consider homeowners insurance with comprehensive coverage.
Comprehensive home insurance would protect both your home and any cars parked outside of it in this situation by covering the driveway itself too (generally up to around $1500).
So does homeowners insurance cover car theft? It depends – if you park on public streets then yes, but not from inside your home.
If you want coverage for damage to a vehicle parked at home, check that it is included as part of your comprehensive homeowners policy before buying additional protection because chances are good that you already have this kind of coverage.
Disclaimer: This blog post is meant for general informational purposes only and may not reflect your specific policy.
About the Author: Alekha is an expert in the insurance space and has been with the Malhotra & Assoc. Insurance team since its inception. Alekha works to provide expertly written and researched content for the Maholtra & Assoc. Insurance agency.
