FAQS About Theft And Vandalism Claims
Below are some frequently asked questions about Theft and Vandalism Claims:
What is the difference between vandalism and theft, and how might it affect my claim?
Commercial insurance policies often cover losses due to vandalism, or the intentional destruction or defacement of property, but will not cover theft or burglary losses. This can be particularly complicated in cases where vandalism leads to the theft of certain items on the premises.
Homeowners’ and renters’ insurance policies generally cover vandalism and theft for residential properties. If you own your home, your homeowners’ policy will cover damage to the structure and your contents or personal belongings. If you rent your home, the property owner’s policy will cover damage to the property, while your renters’ insurance will cover your personal belongings inside the home.
Can my insurance company adjust my coverage based on my risk?
Insurers often don’t like paying claims for damages sustained by their policyholders. They may assess the risks associated with your home or business location and income levels and adjust their coverage limits, so they have a decreased responsibility to pay for damages due to theft or vandalism.
For commercial policyholders, your insurance company may require you to minimize the risk of vandalism or theft. Your insurance company could require you to install security cameras and devices, advanced locking systems, and appropriate lighting. Your insurance company could still require higher coverage limits if your business is in an area that reports an increased number of thefts or vandalism.
Why did my insurance company deny my theft or vandalism claim?
There are several reasons your insurance company might deny a claim. A vandalism and theft attorney from our office can help you review your policy and claim denial to determine the following:
- Whether you can prove you owned the items listed in your claim
- Whether you can prove that a break-in led to the vandalism or theft
- Whether you know the value of the items taken or the damage caused
- Whether you took proper preventive measures
- Whether you have appropriate business interruption coverage in your policy (for commercial property owners)
How can a theft and vandalism insurance lawyer help me file and manage my claim?
A theft and vandalism lawyer with our firm can help you determine which losses listed in your policy best fit the situation and file the appropriate evidence for your claim. Your theft and vandalism claims attorney can also speak with the insurance adjusters on your behalf. Call us at (713) 461-6500 when you need more than luck!
