Theft and Insurance

Anyone who thinks that insurance covers all theft damage often ends up with a negative experience. Most insurances only cover damage under the following categories:

Burglary, robbery, or vandalism.

But not every insurance covers vandalism and looting, as there are often separate clauses that exclude so-called civil unrest from insurance cover. So should a protest or civil war break out in your area and some vandals take your belongings with them, then you may have problems with the insurance.

Burglary and robbery are almost certainly covered, but here the stolen items are usually only replaced at the current value (i.e. at the value they had at the time of the theft) and not at the value for which you bought them. So if you bought an expensive smartphone 2 years ago, it is worth less than before and you get paid less. You would only have an advantage if you bought a painting 2 years ago, the value of which has increased in the last 2 years, because then you get more than you paid for it.

All other thefts are only covered by the insurance company with a small sum as a goodwill gesture. Unless you have a new, fairly expensive policy that covers simple theft as well. Therefore, the question is whether you should only rely on the insurance or take matters into your own hands – Guardmine reliably protects your valuables and you save yourself the time-consuming and often unsatisfactory procedure with the insurance.

Theft on vacation

In Germany alone, an average of 100,000 pickpockets are reported each year. It is one of the most common types of theft in the world. How many pickpockets actually steal each year is unfortunately impossible to determine. But pickpocketing isn’t the only risk on vacation! Many have also had the bitter experience that valuables were stolen from the hotel room. If something is stolen from the holiday accommodation, the landlord or tour operator is usually not liable. Theft from the hotel room or the room safe is part of the so-called “general life risk”, for which neither the tour guide nor the hotel must answer.

Valuables should therefore always be kept in the hotel safe and the room should be locked when leaving. If something is stolen, it is best to report it to the police and the hotel owner immediately. On the other hand, some hotel owners are insured under certain conditions.

Silviu Reghin
Lead Marketing & Sales

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