While fire is the most dangerous risk to your home, man is the risk that hurts the most. When your home has been violated and a thief has come into your personal space it is hard to feel safe. We expect nature to be against us but when we act against ourselves it comes as a betrayal.
According to the FBI in 2011, in the United States, there were 2,188,055 burglaries. That means you are four-times more likely to be burglarized than to have a household fire.
Where you live will greatly affect your chances. Crime rates in the rural areas are half of that in the big cities. Even within the cities you will find that some areas have a burglary incident rate several times higher than in other areas.
The property insurance portion of your home owners insurance policy will cover property crimes and often will cover your property even when you are away from home. However, since it is so location dependent, and since there is good data concerning where the crimes are occurring, your insurance rates will reflect that true risk to the insurance company. You are going to pay for living in that high-crime area, even if you never file a claim.
You can’t fully protect yourself but you can make life more difficult for the thieves.
Bars on windows, security systems, deadbolt locks, and cameras monitoring your house will discourage most thieves and may result in the capture of those that aren’t. Such measures will also be appreciated by your insurer, who is likely to favorably price your property insurance to cover their reduction in risk.
Of the above measures the one that gets me excited is the use of security cameras. Such systems are becoming quite reasonable. Even a small apartment can be covered with a single camera attached to cheap notebook. While it is one more thing to maintain, it can bring great peace of mind.
This wraps up my article on home owner’s insurance.
Here is a quick summary of all that I covered:
1. Home owners insurance is priced based on risks and costs related to the home, the location and the customer
2. Lawyers are looking for a chance to sue you, so it is a good thing that your home owner’s insurance policy covers liability, you probably need more of it and never own or be associated with a dog, a pool, a trampoline or a host of other things that are dangerous to you such as sidewalks or children.
3. Your home insurance covers your house, the stuff inside it, and any other structures on your property.
4. Should you survive your home owning experience you are lucky. Nonetheless, out of the goodness of their hearts, insurers are willing to cover your losses due to Fire, Water, Wind, Hail, Thieves and Stray Mimes, but not Earthquakes, Floods, or whatever other claims are particularly expensive and irksome.
To Top of Page - Theft and Your Home Owners Insurance
To First Page in Series - Factors Affecting Home Insurance Rates
To Second Page - Home Owners Insurance and Liability Insurance
To My Great Dane Story
To Third Page - Home Insurance and Your Personal Property Insurance
To Fourth Page - Fire Insurance and Your Home
To Fifth Page - Water Damage Insurance
To Sixth Page - Natural Disasters
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