In a recent post on this insurance law blog, we began listing some of the most common reasons why people file homeowners insurance claims. Most people think of weather-related damage that occurs to a home, as well as issues such as plumbing problems.
There is, however, a different threat to the value of your home and property. People tend to think of it as a criminal matter rather than an insurance matter, but theft can also be addressed through a homeowners insurance policy.
The Insurance Journal reports that about 6 percent of claims filed throughout the country are tied to losses related to theft. That might sound as though there is a minimal threat, but should your home get damaged and your property be stolen in reality, the ability to turn to an insurance provider to get back your losses can feel like a financial life-saver.
According to the FBI, the average loss to theft and break-ins throughout the U.S. in 2014 was more than $2,000. For the many families in Oklahoma trying to support their families, a $2,000 loss can make it difficult make a mortgage payment and pay the rest of their necessary bills.
That is why turning to the benefits of a homeowners insurance policy can be so helpful for people. When one's home has been damaged, getting the fixes covered is not only a material fix but also works toward creating a sense of security and safety in the wake of a stressful time.
Want to know more about break-ins, theft and how those incidents are handled through insurance? We will go further in depth regarding the process and details in a future blog post.