DENVER - With Black Friday and Cyber Monday behind us, the holidays just around the corner and COVID-19 restrictions still in place, online shopping looks to be even more important this year for sending and receiving gifts. But all that online activity means more deliveries, which means more people will be on the lookout to steal these gifts - for tis the season for those grinchy porch pirates.
While we can all do what we can to stop these folks from stealing our holiday purchases, there will be some thieves who do make off with someone’s online loot. In light of all of this, the Colorado Division of Insurance (DOI), part of the Department of Regulatory Agencies (DORA), is encouraging Coloradans to review their homeowner and renters’ insurance.
“Insurance can protect you when your gifts are swiped by people who should be on the naughty list -- that’s what insurance is for” said Colorado Insurance Commissioner Michael Conway. “However, it can’t save you from loud sweaters, bad fruitcake and someone’s re-gift. They don’t have a policy for those yet.”
Once those online gifts hit your doorstep, they are your property, which means that the theft of these items is likely covered under your homeowner or renters’ insurance policy. However, the theft will likely be subject to your deductible. That means that smaller or less expensive items may fall below your deductible, while the big ticket items, like electronics or jewelry, could have a higher dollar value than your deductible.
The claim process would be similar to having something stolen from inside your home, yard or garage. Specific requirements in filing a claim will likely vary by company, but will probably require some kind of confirmation of delivery (e.g., delivery confirmation from the company, a photo of the package, or a video from a “Ring” type doorbell system).
Typically, you should be able to find information about this coverage in the policy declaration page of your homeowners insurance policy, which includes your coverage limit and deductible amount. Consumers can also ask their insurance company or insurance agent specifically about coverage for theft and the deductibles that would apply.
These are likely questions that can be answered simply, however it may present you with the opportunity to review your coverage with your agent or company. Is your current coverage what you want and need? Are the deductibles right for your home, your contents and your financial situation?
And for you renters out there, now is the time to consider renters’ insurance for the property inside your rental. Your stuff can be damaged and stolen too - porch pirates don’t care if you rent or buy - and if you don’t have renters’ insurance, you don’t have protection. Do some research online or ask your agent or insurance company (for the other insurance you have, like auto) for information on renters’ insurance.
Now is the time to take a look at your insurance needs. Contact your insurance agent or insurance company to make sure your home, its contents (whether you are a homeowner or a renter) and automobiles are properly insured as you do not want to risk being underinsured.
If you need help understanding your homeowner or renters’ insurance, figuring out what questions to ask about it, or just want some help decoding the language of your insurance, contact the Division of Insurance Consumer Services: 303-894-7490 / 800-930-3745 / DORA_Insurance@state.co.us.
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About the Division of Insurance:
The Colorado Division of Insurance (DOI), part of the Department of Regulatory Agencies (DORA), regulates the insurance industry and assists consumers and other stakeholders with insurance issues. Visit doi.colorado.gov for more information or call 303-894-7499 / toll free 800-930-3745.
About DORA:
DORA is dedicated to preserving the integrity of the marketplace and is committed to promoting a fair and competitive business environment in Colorado. Consumer protection is our mission. Visit dora.colorado.gov for more information or call 303-894-7855 / toll free 800-886-7675.