Does Renters Insurance Cover Car Theft?

Q&A Renters: Does Renters Insurance Cover Car Theft?

(Here's exactly what you need to know)

Table of Contents

Does renters insurance cover car theft?
Does renters insurance cover theft of personal property inside the car?
What insurance covers car theft?
Would renters insurance cover theft of other "motor vehicles," like a scooter?

Does renters insurance cover car theft?

I know renters insurance covers property even when it isn't in my house. This got me thinking whether it would cover other, larger property items, like my car. I looked at a few renters policies and I see that theft is a named peril. Does this mean that renters insurance would cover car theft? 

No, renters insurance doesn't cover car theft. It's true that theft is a covered peril under almost all renters insurance policies. While certain personal property items are covered by renters insurance, these are things like clothing, electronics, and furniture. 

A car is something that is specifically covered by your auto insurance policy. If your car is stolen, that's a claim for your auto insurance, not your renters insurance.

Does renters insurance cover theft of personal property inside the car?

This is an important point to remember. Renters insurance doesn't cover your car, but it does cover personal property. It even covers personal property that isn't at your home. The only difference is that the limit will be lower. 

This can differ by policy, but is typically 10% of your policy limit. If your personal property limit is $25,000, property stolen from your car in a public place would be covered up to $2,500. This means you can file a renters insurance claim for personal property taken with your car, but not the car itself.

What insurance covers car theft?

Auto insurance covers car theft. It's important to note that you need comprehensive insurance for car theft coverage. This is different from liability insurance, which is the minimum required insurance if you own or lease a car. Comprehensive coverage protects you from non-collision-related loss, such as theft.

If you're unsure which type of auto insurance coverage you have or want to add comprehensive coverage in case of car theft,an independent insurance agent can help.

Would renters insurance cover theft of other "motor vehicles," like a scooter?

This is becoming a more common question, so it's worth addressing. Renters insurance doesn't cover the theft of any "motor vehicle," including things like motorized scooters. You can discuss how to get any of your motor vehicles covered by speaking with an independent insurance agent.

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