DEFINITION of 'Broad Form Personal Theft Insurance'
Insurance coverage to protect personal assets. Broad form personal theft insurance coverage can be placed on all personal property, and is on an all risk basis meaning no matter whether the loss is from vandalism, theft, loss etc. the same coverage will apply. A limited form of broad form insurance is more commonly known as personal theft insurance.
BREAKING DOWN 'Broad Form Personal Theft Insurance'
There are limitations on the coverage of personal assets which are most often subject to theft such as jewelry, coins and securities, among others. Personal assets insurance is commonly included in homeowners and auto insurance, however, additional insurance may be purchased.