My Steam account was phished. The hacker traded away my factory-new “Dragon Lore” AWP skin (worth $10,000) to a bot network. Steam Support said, “We do not restore items.” I filed a claim with my renters insurance under “Personal Property.”
Key Takeaways
- The “Right to Use” Clause: Read the Valve/Steam Terms of Service. You do not own the skins. You have a “revocable license to use” the digital items. Insurers argue you cannot insure something you don’t legally own.
- Intangible Property Exclusion: Standard renters/home policies cover tangible items. A digital sword is code. Unless you have a specific “Digital Assets” endorsement, it’s denied.
- Collectibles Insurance: Some specialized carriers (like Wax Insurance for watches/art) are starting to cover high-value digital collectibles. You must “Schedule” the item with an appraisal.
- Steam Won’t Help: In the past, Steam duplicated items to restore victims. They stopped this because it caused inflation. Now, if it’s gone, it’s gone.
The “Why” (The Trap)
The trap is “Ownership” vs. “License.”
Insurance protects your property. Gaming assets are legally the developer’s property that they let you play with. If the developer bans you or shuts down the game, the asset vanishes. Insurers hate this “Platform Risk.”
The Investigation (I Called Insurers)
I tried to insure a $10k CS:GO inventory.
Lemonade (Renters)
- Result: Denied coverage for the skins as standard property. They offered a generic “Electronics” package that covers the PC, not the software/skins.
Chubb (Valuable Articles)
- Result: Possible. If I could provide a third-party appraisal (from a reputable skin marketplace like CS.MONEY) and prove the market stability, they might schedule it as a “Collectible,” similar to a baseball card.
- Cost: Approx 2-3% of value per year.
Comparison Table
| Asset Class | Standard Policy | Scheduled Collectible Policy |
| Physical Magic: The Gathering Cards | Covered | Covered |
| Digital CS:GO Skins | Denied (Intangible) | Possible (High scrutiny) |
| Gaming PC (Hardware) | Covered | Covered |
Step-by-Step Action Plan
- Enable Steam Guard (Mobile Auth): This is mandatory. Without it, you are negligent.
- Revoke API Keys: Hackers often steal your Steam Web API key to intercept trades. Go to Steam Dev settings and “Revoke My Web API Key” immediately.
- [IMAGE: Screenshot of Steam API Key revocation page]
- Schedule High-Value Items: If you have a single skin worth >$5,000, call a specialized broker (like Coincover or an art insurer) to see if they can write a specific policy for it.
- Keep Transaction Logs: Save the purchase history emails. You need to prove the cost basis of the item.
FAQ
Is it theft if I got scammed in a trade?
No, that’s “Voluntary Parting” again. Theft covers account hacking, not bad trades.
What if the game shuts down?
Total loss. Uninsurable.