Can you add coverage for Theft, Vandalism or Burglary and does it cost extra? Check your policy for specific details or contact your agent if you have questions. Your deductible may also differ for those losses. So, while you may have insured your property for $100,000, you may only have $30,000 worth of coverage for Theft, Vandalism (VMM) or Burglary, for example. Even if you have coverage for Theft, VMM, or Burglary, the limits of coverage may still be restricted for just those perils. Unlike perils such as Fire, these coverages may have their own “sublimit” underneath the main property coverage limit. Special Form: Includes VMM, Burglary Damage and adds Theft Can coverage for Theft, Vandalism or Burglary be limited? Though the most common policy formats used for real estate investment properties tend to be Basic and Special Form, below is a summary of what coverages are available under each of the three policy formats.īasic Form: Includes Vandalism & Malicious Mischief (VMM)īroad Form: Includes VMM and adds Burglary Damage Basic, Broad and Special – Which coverage is available under each format? Tenants are treated differently within the insurance contract because you have allowed them to be a caretaker of your home through the lease agreement.

Depending upon the laws of the state, they may have committed a crime, but your tenant is not a stranger that has broken into your home. No, a tenant intentionally damaging your property is not considered Vandalism from an insurance perspective. If my tenant purposefully damages a unit, is that considered Vandalism? An example would be the damage done to an entry door when burglars pry it open. someone spray painting the walls with graffiti, breaking sinks and toilets or punching holes in walls.īurglary: includes damage to your property caused by burglars, but not theft of property. Vandalism & Malicious Mischief: the intentional injury or destruction of property. Theft: the taking and carrying away of the personal goods or property of another without permission.

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