What Does Homeowners Insurance Cover for Personal Property?

Homeowners insurance can be a vital safeguard for financially protecting your home and belongings against unexpected events. One of its key components is personal property coverage, which helps reimburse you for the loss or damage of your possessions.

What Is Personal Property?

Personal property refers to the movable items within your home. Essentially, this means property that isn’t permanently attached to the structure. This can include furniture, electronics, clothing and appliances. If these items are damaged or stolen, personal property coverage can help pay to repair or replace them.

Covered Perils

Most standard homeowners insurance policies cover personal property against a range of named perils, such as:

• Fire and smoke

• Theft and vandalism

• Windstorms and hail

• Lightning strikes

• Water damage from burst pipes

• Explosions

• Falling objects

However, coverage may vary depending on your policy type. A named-perils policy only covers events specifically listed, while an open-perils policy covers all causes of loss except those explicitly excluded.

Limits and Exclusions

While personal property coverage is broad, it does come with limits. High-value items like jewelry, collectibles and musical instruments may have sub-limits, meaning the insurer will only pay up to a certain amount unless you purchase additional coverage, such as a scheduled personal property endorsement.

Additionally, certain types of damage, like those caused by floods or earthquakes, are typically excluded from standard policies. You may need separate insurance for those risks.

Learn More

Personal property coverage is a crucial part of homeowners insurance. To verify that you’re fully covered, it’s wise to inventory your belongings, understand your policy’s limits and consider additional coverage for high-value items. For homeowners insurance near you, contact Cadenas Insurance Agency.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.