What generally does "theft" exclude when it comes to insurance policies?

The term "theft" in the context of insurance policies specifically refers to the unlawful taking of someone else's property with the intent to permanently deprive them of it. When discussing what theft generally excludes, loss not related to personal property stands out as the correct answer because theft must involve tangible personal property being taken without consent.

Insurance policies typically provide coverage for theft of personal property, which can include items like electronics, jewelry, and vehicles. However, theft does not include losses related to real property (like the structure of a home) or intangible property (such as intellectual property or rights).

This distinction is important: if a loss does not involve the taking of personal property, it does not fall under the definition of theft in insurance terms. This is crucial in determining the scope of coverage under a policy and helps insured individuals understand the limitations and exclusions in their coverage regarding theft.