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Does renters insurance cover a loss due to scamming?
"I sold a watch on Craigslist and I think the buyer illegally paid for it since their account was just banned. This means I'll have to reimburse PayPal. Can I claim that the watch was stolen from me using my renters insurance, since the buyer used fake funds to pay for it?
"
Jackie Whalen · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Unfortunately, the answer is no. Renters insurance will cover theft, such as if someone steals your watch from your home or your vehicle. But it would not cover you in a fraudulent sales transaction. There may be some protections afforded to you by PayPal, but you would not be able to claim the watch under your renters insurance.
“
View full answer
- Gregory R.
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