Your home is filled with items of value and meaning. If they were damaged in any way, you could only be compensated for the loss through personal property insurance. As a crucial part of your homeowners policy, this coverage provides specific protections for your personal property. Here’s what you should know.

What Is Personal Property Coverage?

This form of coverage is designed to protect any of your personal possessions in the event that they are stolen or somehow damaged. Whether the items are situated inside the home or outside, your policy will cover them. If you have a policy for a home or a condo, or you’re a renter, your coverage includes protections for all of your belongings up to your specified coverage.

Which Types of Damages Are Included?

Your belongings are protected from a variety of perils, including weather events, fires, lightning strikes, explosions, damage due to smoke exposure, thefts, and electrical currents, to name just a few. You can also file a claim if your belongings were destroyed because of water damage due to a heating and cooling system failure, or a plumbing malfunction. Disturbances like floods, mold, and insect damage are usually excluded from such policies.

What Types of Items Are Covered?

Property insurance policies cover any of your personal items, either inside or outside of the dwelling. This includes, but isn’t limited to, furnishings, appliances, electronics, clothing, sporting equipment, lawn care tools, and home decor. Although you might own other items, like your pets and your vehicle, they’re not covered by this type of policy. Moreover, items that belong to the dwelling, like furniture that came with the property or a faucet, are covered by separate policies.

How Much Coverage Should You Get?

You can glean a rough estimate of how much you should purchase by assessing the value of your belongings, then rounding it up to the closest $10,000 amount. For example, if you have $38,000 in personal possessions, optimally you would secure $40,000 in coverage.
 

Are you ready to purchase a property insurance policy to protect your belongings? Trust in the professionals at Michael E Glick Insurance in Boerne, TX. Here, you’ll find the right solution for your specific needs, from auto insurance for your vehicle to business liability for your company. They also offer a no-charge insurance review policy for your convenience. Visit the website for more information, or call (830) 816-9488 to speak with a representative.