What is personal property insurance?

Personal property coverage helps pay for the personal property inside of your home if it is ever damaged or lost.

What does personal property insurance cover?

Personal property insurance may cover the following items that are not permanently affixed to your home, like:

  • Furniture
  • Clothes
  • Sporting goods
  • Appliances
  • Electronics

However, many people do not know exactly how much all their personal property is worth. To ensure that you are not in this majority, it is a good idea to create an inventory of all your personal property (which would include pictures and the purchase price of every item) and update it yearly. Then, store this information electronically as well as on paper, in two different locations. This will greatly simplify the claim-filing process if something happens in the future.

How much personal property coverage do I need?

Coverage limits are typically 50-70 percent of your dwelling coverage. In most states, replacement cost coverage for personal possessions is automatically provided with our standard policies. In others, actual cash value is standard, and you may elect to purchase replacement cost coverage. To learn more about what it means to have replacement cost coverage, visit our Learning Center. (And, to ensure your most highly valued items are protected, learn more about scheduling personal property.)