Does Homeowners Insurance Cover Theft of Structural Elements?

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    Normally when we think of perils that can damage homes, we think of natural disasters, like lightning strikes, rainstorms, windstorms, and wildfires. Or perhaps we think of human disasters, like electrical fires.
    But another potential peril is theft. Thieves can cause damage to a home, or to items inside the home, and your homeowners insurance can help you out there. But what if there’s theft of structural elements of your home? Does a homeowners insurance policy cover that? Read on to find out.

    Does homeowners insurance cover theft of structural elements?

    Yes, homeowners insurance will cover you if any structural elements on your property are stolen. Whether a thief steals an entire large structure, like an above-ground pool, or steals an element from your home, like a wood beam, your homeowners insurance policy will cover the replacement.
    Structural element burglary is not particularly common, but it is aggravating when it happens, and it can end up being quite a financial burden. Thankfully your homeowners insurance will help out.
    One thing to be aware of, though, is that most homeowners insurance plans cover external structures only to a certain percentage of your home’s value, usually around 20%. If your structures exceed that coverage maximum, and you’re worried about them being stolen, you might want to increase your coverage.

    What to do if someone steals a structural element from your home

    If someone steals a structural element from your home or property, you’ll want to handle it the same way as you would if any other peril caused damage to your home. You’ll need to file a claim. After you’ve filed a claim, your insurer will send someone out to your home to assess the theft, ask you further questions, and determine what your payout should be.

    How to prevent the theft of structural items from your home

    While homeowners insurance covers you in the event of structural element theft, it’s still a hassle to go through the process, and you may have to pay your deductible. So, if you can make it harder for thieves to steal structural elements from your home, then you might want to do so.
    A great way to discourage theft is by installing security cameras, or a home security system. These both deter thieves. You can also get outdoor lights to make it seem like you’re home even when you’re not. And you might want to look into ways to secure structural elements that you think are prone to theft.

    Does renters insurance cover theft of structural elements?

    Renters insurance, on the other hand, does not cover theft of structural elements, unless you own them. If the structural elements are part of the home that you're renting, then they’ll be covered under the homeowners insurance purchased by your landlord, and it will be their situation to deal with.

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