Homeowners Insurance Quotes Explained:

Personal Property Insurance Coverage

An essential part of your home insurance, personal property insurance provides protection for your personal belongings against damage or theft at home or anywhere else in the world.

Covered items can include things like:

  • Furniture
  • Clothing
  • Sporting goods
  • Electronics
  • Tools
  • Appliances

Often overlooked by consumers looking for the cheapest homeowners policy, these items are expensive to replace.

Replacement Cost vs. Cash Value

At the time of a loss, your personal property value is evaluated by its age and condition. This is the actual cash value.

The Hartford, one of our home insurance providers in St. Louis, goes even further than just reimbursing you the actual cash value. With replacement cost coverage you’re reimbursed the amount it would cost today to replace an item with a like, kind, and quality item.

With the appropriate coverage, The Hartford will first pay you the actual cash value. After you buy a new item and provide a receipt, pays the remainder of the replacement cost.

Determining Your Personal Property Coverage Limits

Your personal property coverage is automatically calculated as a percentage of your dwelling coverage. This is usually 70 percent.

You can always customize your coverage to accommodate items with values exceeding the 70 percent level.

Get Extra Protection for Your Valuable Items

In some cases, you may need extra protection for your valuable items. This is where valuable items blanket coverage comes in. This coverage provides extra protection for your items. It will give you peace of mind, knowing that you’re prepared for the unexpected.

One of several supplemental homeowners insurance coverages that can be added to your homeowners policy.

Commonly covered items:

  • Jewelry
  • Furs
  • Silverware
  • China
  • Crystal

While many homeowners policies cap coverage for theft of jewelry at $1,500 and silverware up to a $2,500, a valuable items blanket coverage can increase the limit to $10,000 per item. Also extending coverage for lost or damaged valuables, keep your agency appraised of any expensive property additions.

As you consider what you need for coverage, remember that certain damages are not covered by standard homeowners insurance policies. For example, say your property is damaged by a flood. Losses endured are not typically covered unless you have flood insurance coverage.