Does Insurance Cover Cash Stolen From Car?

When cash is stolen from a car, insurance coverage is not a simple yes or no answer. Reimbursement depends on specific insurance policies and their terms. Understanding different coverage types is important for recovering financial losses.

Personal Property Coverage and Your Policies

Standard auto insurance policies, such as collision or comprehensive coverage, primarily address damage to the vehicle itself, including incidents like theft of the car or damage from a break-in. These policies typically do not cover personal belongings, including cash, that are stolen from inside the vehicle. For example, if a car window is smashed and items are taken, the auto policy would cover the window repair but not the stolen items.

Coverage for personal property stolen from a vehicle generally falls under a homeowners or renters insurance policy. These policies often include personal property coverage that protects belongings both within the insured residence and away from it, extending to items stolen from a car. Any claim filed under these policies is subject to a deductible, which is the amount the policyholder pays before coverage begins.

Common Limitations on Cash Coverage

While personal property coverage under homeowners or renters insurance can extend to items stolen from a car, cash is typically subject to specific, lower sub-limits. These sub-limits are often much less than the overall personal property coverage, commonly ranging from $100 to $500. This limitation also applies to other monetary instruments, such as foreign currency, coins, bullion, or stored value cards.

Insurance policies frequently include conditions or exclusions that affect coverage for stolen cash. Some policies may require evidence of forced entry, such as a broken window or damaged lock, for the theft to be covered. Instances of “mysterious disappearance,” where cash simply goes missing without evidence of theft, are typically not covered. Insurers impose these limitations due to the high risk of theft and difficulty in verifying the exact amount stolen. Policyholders should review their policy documents to understand the limits and any applicable exclusions for cash.

Reporting the Theft and Filing a Claim

Immediately after discovering cash stolen from a car, contact the police to file an official report. A police report is usually mandatory for filing an insurance claim for theft and provides documentation of the incident. When reporting, provide specific details, including the date, time, location, and any evidence of forced entry.

Documenting the loss thoroughly is important. This includes taking photographs of any damage to the vehicle, such as broken windows or locks, and gathering evidence of the stolen cash. Relevant documentation might include bank withdrawal slips, ATM receipts, or other records that substantiate the amount of cash present. Maintaining a detailed list of all stolen items, including descriptions and estimated values, aids the claims process.

Promptly notify the insurance company after the police report is filed. Policyholders should contact their homeowners or renters insurance provider, referencing their policy number, and provide all known details about the theft. The insurer will guide the policyholder through the claims process, which may involve submitting claim forms, the police report, and other requested documentation. Cooperation with the assigned claims adjuster is expected, as they will investigate the incident and assess the claim for reimbursement.