insurancePorch pirates are the scourge of unsuspecting neighborhoods.

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Porch pirates are the scourge of unsuspecting neighborhoods.

It only takes a few seconds for a thief to snatch a package from in front of your house. Porch piracy is a crime of opportunity and is on the rise. A 2019 FedEx survey indicated that one in three Alberta homeowners had at least one package stolen.

If you can, have your items shipped to a P.O. Box or your work address. If that’s not possible, invest in a doorbell camera.

Can I claim insurance ?

The short answer to this is, yes, as the good is considered personal content. As defined, personal content is things you own, such as electronics, furniture, and clothing. It helps pay to repair or replace your belongings after a covered loss with personal content coverage, such as theft or fire. Here are some things to think about when it involves protecting your belongings.

There are two sorts of personal insurance coverage: cost and actual cash value. A cost policy typically pays the dollar amount. It'll fancy buying a replacement item at the time of a claim. An actual cash value policy factor in depreciation to supply reimbursement supported the present value of an item. It is also essential to understand that private property coverage usually has certain limits on what it'll pay to exchange an item or category.

However, before you put in a claim, consider the following

1. Deductible

When claiming for property lost on the insurance policy, often asked questions will be what is insurance deductible amount. The cost for home insurance is affected by this insurance deductible. Any final payout amount on a claim will be less of the insurance deductible amount from the claim.

 The insurance premium rate is directly affected by the insurance deductible amount. The higher the insurance deductible, the cheaper the cost for home insurance. Accepting a higher insurance deductible amount with a lower payout on a claim will lower insurance costs.  

So, a simple calculation. if your item is $500 and your insurance deductible is 1000, you will not get anything after you report to insurance company.  Even if your item is $1200 and your deductible is $1000, you will get back $200, but consider launching a police report, completing the proof of lost and hours of telephone or adjuster coming your way, sometimes asking your neighbor, you may want to consider the cost. plus the following 

2. Increase in premium or denial of renewal

Most of the personal insurance companies in Canada will increase or decrease the personal insurance premiums for many reasons. Most of the factor may attribute to premium and claims frequency and neighborhood crime will increase your insurance. Worst of the consequence if one had frequent claim, insurance company will denial the renewal policy due to this.

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