Does My Homeowner’s Insurance Cover a Stolen Cell Phone

stolen-cell-phoneDear Sherri, My son’s cell phone was stolen while he was at the park, does my Homeowner’s policy cover this? – Very Angry Mom in Queens

Dear Very Angry Mom in Queens,
I have good news and I have bad news. The good news is yes your policy does cover this since the phone is part of your contents coverage and if you have “off premises theft” coverage on your policy, the phone is covered. Now, I wish I could just stop here, but I have to also give you the bad news. The deductible on your Homeowner’s policy will apply and most people have a deductible from $250 to $2,500. Considering the fact that most people’s phone will cost less than $600, I would not put in a claim for this type of loss. Instead, I would just buy a new cell phone and take it out of your son’s allowance for the next few years and chain or superglue the new phone to his wrist! For more detailed information on covering electronics, see our guest blog on Equifax Financial
– Sherri

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