Holiday Gift (Insurance) Guide | Personal Finance

For all the shiny gifts and sweet treats that come with the holiday season, there are some unsavory characters waiting for an opportunity to swipe your holiday haul.

If you’ve ever gone on a big holiday shopping trip, chances are you’ve kept some of your purchases in your car while you continue to browse and shop in other stores. After all, carrying around multiple bags and awkwardly shaped boxes can get tiresome.

But all of those store-branded bags and gift wrapped goodies can attract the wrong kind of attention.

Cars are a common target for opportunistic thieves: 27% of larceny-thefts in 2019 were from motor vehicles, according to the FBI’s uniform crime report. The average value of items stolen was $1,012.

If you are the victim of gifts stolen from your car, you’ll have coverage through your renters, condo or home insurance. You may need to provide receipts, or bank and credit card statements, to verify the amount of the merchandise. You’ll also typically need to file a police report in order to make an insurance claim for theft.

An insurance claim check for theft will be reduced by the amount of your deductible.

For example, if you have a $500 deductible and the total value of your insurance claim is $1,000, you would get an insurance check for $500. If the total value of your claim is less than your deductible amount, there’s no point making a claim.

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