Personal Property Coverage
Personal property coverage protects the contents of your home, furniture, clothing, electronics, appliances, and personal belongings, against fire, theft, and other covered perils.
Personal Property Coverage
If you own jewelry, art, collectibles, or other valuable items, it is worth checking whether the limits and scheduling match what they are worth.
What You Need to Know About Personal Property Coverage
Coverage Amount
Standard home policies include personal property coverage at 50–70% of the dwelling limit. This may or may not be adequate depending on what you own. A home inventory, even an informal one, helps validate whether the coverage amount reflects the actual value of your contents.
Scheduled Personal Property
High-value items, jewelry, art, collectibles, musical instruments, firearms, cameras, are typically sub-limited under standard home policies. Scheduling these items separately provides full agreed-value coverage without the standard policy's per-item caps.
Replacement Cost for Contents
Like dwelling coverage, personal property can be insured at actual cash value (depreciated) or replacement cost (what it costs to replace). Replacement cost coverage for contents is available at modest additional premium and eliminates significant out-of-pocket exposure when replacing depreciated items after a loss.