Don’t Rely on Your Homeowners Insurance Policy to Cover Cash Kept at Home

A homeowners insurance policy might include personal property, but don’t rely on your home insurance to replace cash that was stolen in a robbery or burglary. Homeowners insurance doesn’t cover cash because it’s near impossible to prove ownership. A video inventory of your personal belongings may support your insurance claim, but don’t count on your homeowners insurance to cover cash kept at home.

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Natasha McLachlan is a writer who currently lives in Southern California. She is an alumna of California College of the Arts, where she obtained her B.A. in Writing and Literature. Her current work revolves around insurance guides and informational articles. She truly enjoys helping others learn more about everyday, practical matters through her work.

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Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...

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Reviewed by Laura Walker
Former Licensed Agent

UPDATED: Nov 22, 2020

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Even though a homeowners insurance policy includes personal property, do not rely on your home insurance to replace cash that was stolen in a robbery or burglary. It is not so much a question of having the coverage; it is a question of being able to proof the possession of the cash before it was stolen.

Personal property is insured through your home insurance up to around 10 percent of the total home policy value. This includes everything you own, from appliances and tools to your clothing and decorative items, even your jewelry and other valuables. Technically, cash would be part of your personal property, if not for the problem of proving ownership.

Unless you have the serial numbers from all of the cash stored in your home, there is not much your insurance company can do for you. Just claiming that you had $100 or $1000 stolen is not sufficient proof for filing the claim. But if you did record the serial numbers, as might be the case with collectible cash, you can file the claim equal to the face value of the lost cash.

If you plan to keep money in the home and want it to be covered on your insurance, you will have to include it on your home inventory. In addition to including the cash on the video, take the time to record each serial number directly, so that you have a visual representation of the cash, complete with indisputable recognition of the bills. Even then, your insurance company may balk at paying a claim for cash, but having those numbers will be the only possible way of getting compensation from your insurance
company.

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