Stolen large sum of cash

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Jul 6, 2018

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Insurance Question from Morgan Hill, CA

Asked on 07/06/2018

Stolen large sum of cash Does home insurance cover it? How do I go about Fula claim

Answer given on July 18, 2018

Homeowner insurance policies do provide a limited amount of coverage for cash that is stolen. You should review your insurance policy, under the property coverage portion and the limits for certain types of property.  Some insurance companies only provide $200 in cash, others provide up to $5,000.  

You will need to file a police report for this theft and provide as much information as possible. Also, if other items were taken, be sure to include them in the report to the police and the insurance company.  Your homeowner deductible will apply to this loss. If the policy limit for stolen cash is not high enough to cover your loss, or is only a few dollars over, you should not file a claim, since you could lose your “claim free” discount on the homeowner insurance. This can be a substantial savings, and not worth losing for a few dollars. 

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