If property stolen from work vehicle and is covered by my employer’s property insurance, who pays the deductible?

I had a lot of stuff stolen from my work vehicle, roughly $11,000 worth, including my engagement ring. The company property insurance policy covers up to $15,000 but there is a $5,000 deductible. Am I responsible to cover the deductible or should the company cover the deductible and I should receive the full value of my losses?

Asked on July 26, 2012 under Insurance Law, Minnesota

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If all of the property that was stolen from your company vehicle was yours, then you should pay the full deductible of such loss.

If company property and your own personal property were stolen from the vehicle than you and your employer should pay a percentage of the deductible to the insurance comoany based upon the ratio of personal loss in comparison to total loss with respect to the $5,000 deductible.


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