I dont think it covers theft ,but if i get my gear back valued 。@ ,。$6000 its getting insured..i so regret not insuring my gear.i had even reed some past threads on insuring ur gear.dont make the mistake like i did.like on one of the posts in this thread,someone said ,it only cost ´s a fraction compared to what ur gear is worth.i HOPE MY THEORY IS RIGHT.MUSICIANS BEHIND MY HOUSE.BANG