Nothing is more irritating than finding that expensive personal belongings have been stolen from your house. Depending on the situation, you may discover that your homeowners insurance has limitations on the coverage that you have purchased. When your lawn equipment is stolen from your house, you may have coverage to help pay for the replacement cost, but the amount that is available can vary.

Provisions for Theft

Many homeowners insurance policies do have solutions to help pay for the replacement of personal belongings that are stolen from your house, including the lawn equipment. The problem that may arise is related to the amount and the method of calculating the loss.

Some insurers will give the full replacement value of the item. Other insurers may only offer the replacement value after subtracting the depreciation rate from the item. You may also discover that there is a maximum limitation on how much you can claim for personal belongings like lawn equipment.

Protecting Against Theft

Before you assume that your policy has enough to protect against the theft of expensive items, evaluate the details of your plan. In some cases, you may need additional protection due to the high cost of replacing lawn equipment or the limitations in your policy. Many insurers will only provide a percentage of the policy to help pay for the replacement of stolen items. That may mean that you do not have enough to pay for the full cost of replacing expensive equipment.

Every insurance policy is different, so the details about your plan may vary. In some cases, you may want to consider additional protection for expensive equipment or items if you are not sure that your current plan is appropriate. Contact us to talk to an agent for more information.