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Are Your Belongings Covered in the Event of Disaster?

As is the case for many cities across the United States, theft is a real issue in Texas cities. In 2016, the FBI reported that Dallas had 26,370 reported incidents of theft crime, while Houston had 69,630 and Austin had 26,125. When presented with numbers like these, many residents may wonder whether their property is secure and feel compelled to consider adding additional security measures such as alarms, remote monitoring and insurance to ensure they’re covered in case of theft.

Of course, each insurance policy will vary based on an individual’s situation, but there are several security options that can help protect your home and belongings and lower your insurance bill, as well. It’s important to plan ahead and consider your options before you become a statistic.

Theft, robbery and burglary: What’s the difference?

Although the terms theft, burglary and robbery are often used interchangeably, there are important distinctions that set each crime apart. According to FindLaw, the term theft describes a situation in which someone steals an item with no intent to return it. Robbery is when something is taken by force, and burglary is when someone unlawfully enters a structure, with or without theft.

It’s important to know the difference between these terms because insurance companies (and the police) will treat each scenario differently. Although some coverage is standard, it’s best to review your homeowners or renters insurance policy to determine what is covered under your policy.

What does insurance cover?

Most homeowners insurance policies include theft/burglary insurance, which covers any personal belongings or valuables that are taken from your home or yard. Some policies even cover items stolen from your person on the street. The method of repayment is generally computed using the Actual Cash Value (ACV), or sometimes using the Replacement Cost Value (RCV). ACV uses the current value of the stolen item for reimbursement purposes, while RCV considers how much it would cost to directly replace the item.

Although most items in your home are covered under many homeowners insurance policies, some items, such cash and jewelry, may not be covered. If you keep these items in your home, you’ll want to consider purchasing additional insurance to cover them. Also, cars and the items within them are generally covered by their own policy, which may have different rules regarding theft. Check with your insurance professional to ensure you’re covered and examine your insurance deductible.

Weaving a security safety net

The best way to ensure that you and your family are covered in case of a theft or burglary is to couple a good insurance policy with a sound security system. The best security safeguards come with monitoring, alarms and more, all of which make it more difficult for someone to steal or break into your home. On top of monitoring for theft, many systems include fire safety and remote monitoring, which will keep your home safe both when you’re home and when you’re not.

One extra perk of installing a home security system comes in the form of additional insurance benefits and discounts. Some of these discounts can be so substantial that the savings essentially pay for the security system you’ve installed. Check with your provider to see if you can qualify for a lower rate if you purchase a home security system.

Get everything under one roof at Smith Thompson

After considering the current theft statistics and the benefits of getting insured, many Texans have determined that a home security system is an absolute must. Smith Thompson Home Security has been a trusted Texas home security resource since 1978. With a full line of security products, from remote security and fire monitoring to the newest technologies, Smith Thompson does it all in-house from their Plano, Texas headquarters. Their decades of experience working with insurance agents mean that they’ll help you get the best deal possible on your new security system while helping you compare insurance options and find the best home insurance in Dallas, Houston or Austin.

Don’t wait until you’re just another statistic. Contact Smith Thompson Home Security today to learn more about their home security solutions.

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