Why Personal Property Coverage Is Essential For Homeowners

As homeowners we have a lot to be concerned about regarding the welfare of our home. However another type of coverage that’s essential to have included in your policy is personal property coverage. If a loss occurred to the foundation of your house, the homeowners policy would have it covered. But what happens when you suffer a loss to contents inside your home? That’s when personal property coverage is crucial to have.

There are a few types of personal property:

  • Furniture
  • Clothing
  • Sporting Goods
  • Electronics

You may be thinking… If my personal property is locked inside my home, why would I pay extra coverage for it? One important reason: theft. Let’s say you’re away from your home for an extended period of time whether you’re on vacation or an extended business trip. Theft would occur at a higher rate when household occupancy is lower. Burglaries are actually more than 10% higher during the Summer months when families are on vacation.

When is personal property needed?

  • During a burglary your personal property can be damaged when a thief hears an alarm sound and drops your expensive entertainment system. The damages it sustains could permanently destroy the property, forcing you to replace it.
  • Clothes are considered property too. Suppose when an intruder is rummaging through a closet and an expensive wedding dress is torn. You then need to take the dress to a tailor to repair the damage.
  • Thieves main objective is to steal another’s property. Picture your brand new mountain bike stored in your garage, during a robbery the thief takes the bike and all its accessories. You are now forced to replace the bike.

* The following losses would be covered under Personal Property Coverage. Be sure to specifically list what you want covered on your policy. 

What to in the event of a Personal Property loss:

  • Keep a detailed inventory of property covered in the event a claim needs to be filed.
  • Maintain a photographic or video record of all belongings.
  • Save all receipts in case property needs to be restored or replaced.

Contact Us

Our friendly office staff can assist you with any questions about your personal property, coverage options and any questions you may have. Call us at 631-224-100, we’ll be more than happy to help you! We encourage our readers to share their thoughts in the comments section. It allows us to improve the quality of our blog, connect with our audience and address your insurance concerns.

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