Is it standard in a robbery for the homeowner’s insurance to waive your deductible?

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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: Jan 12, 2012

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Insurance Question from Ionia, MI

Asked on 01/12/2012

Is it standard in a robbery for the homeowner’s insurance to waive your deductible? Example: home robbed of items with a value of $1000. If the policy holder has a deductible of $500 does the insurance reimburse the total value of $1000 or $500? My friend argues that because a robbery is different than a fire, wind, etc. that there is no deductible even if the policy has a $500 deductible. Inquiring minds want to know!

Answer given on January 13, 2012

Take out your home insurance policy.  Review the section that list causes of loss. It will say under theft if you subject to your deductible. Normally theft would incur a dedcutible.  Some insurance companies have a separate deductible for theft.  Others state you would incur the same deductible as stated on the policy.  One exception to this is if the items stolen were jewerly items that were schedule on a special protection property floater.  Most items scheduled on a floater do not incur a deductible for theft.  Hope this clears up your confusion.     

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