I was packed shoulder-to-shoulder in the dealer hall at GenCon, my backpack seemingly secure against my chest. I stopped at a booth to look at a Magic: The Gathering Alpha Lotus, and when I looked down five minutes later, the bottom of my bag had been slit open with a razor, and my binder worth $12,000 was gone. I sprinted to security, but in a crowd of 70,000 people, the thief had vanished instantly, and my stomach dropped when I remembered my homeowners agent telling me “travel limits” were low.
Key Takeaways
- The Travel Limit Cap: Standard homeowners policies often limit coverage for items “away from the residence” to 10% of your personal property limit, or a hard cap like $1,000 for collectibles.
- “Unattended” is the Dealbreaker: If you set the bag down on a table to play a game and walked to the bathroom, that is “Unattended.” Insurance usually denies that. Pickpocketing (while holding it) is different.
- Police Reports are Mandatory: You cannot file a theft claim without a police report number. Convention security reports are not enough.
- Specialty Policies are Essential: Policies from companies like Collect Insure or CIS often cover “Travel and Exhibition” up to a much higher limit (e.g., $50,000) specifically for this risk.
The “Why” (Theft Away From Residence)
Insurers hate conventions. It is a target-rich environment for pros.
“Coverage for property away from the residence premises is limited to… [Low Amount].”
Furthermore, the burden of proof is on you to prove it wasn’t just “lost.” A slit bag proves theft. A missing binder might just be “Mysterious Disappearance” (often excluded).
The Investigation: Coverage on the Floor
I asked three providers how they handle a GenCon theft.
1. Travel Guard (General Travel Insurance)
- Verdict: Useless. They have per-item limits for “valuables/electronics” often capped at $500. They are for lost suitcases, not lost grails.
2. State Farm (Renters/Homeowners)
- Verdict: High Risk. They might cover it up to the sub-limit ($1,000 usually). If you have a “Personal Articles Floater,” it is covered worldwide, but filing a $12k claim here will likely get your home policy cancelled next renewal.
3. Collect Insure (Specialty)
- Verdict: The Best. They include “Travel and Exhibition” coverage. As long as the item was in your “care, custody, and control” (which it was, on your chest), they pay.
Comparison Table
| Policy Type | Travel Limit | Deductible | Note |
| Homeowners | $500 – $1,000 | $500+ | Danger of cancellation |
| Travel Insurance | $500 Per Item | $0 | Not designed for collectibles |
| Specialty Policy | Policy Limit (e.g., $50k) | $0 | Designed for Conventions |
Step-by-Step Action Plan
- File Police Report Immediately: Go to the local precinct (not just the convention center desk). Get a case number for “Grand Larceny.”
- Preserve the Bag: Do not throw away the slashed backpack. Take photos of the cut. This is physical evidence of the crime (Force).
- Check Cameras: Ask the booth vendors nearby if they were live-streaming or had security cameras. In 2026, many dealers record their own tables.
FAQ
Does it count if I left it in the hotel room?
Only if the hotel room was locked and there are signs of forced entry. If you left it in an unlocked room or with the bellhop, it’s likely denied.
[IMAGE: Photo of a backpack with a clean razor slit across the bottom canvas]