What’s Personal Property Coverage in a Home Insurance Policy?

Home insurance policies provide multiple coverages that define the protections they offer. Personal property coverage is a staple protection of these policies.

The Core of Personal Property Coverage

Personal property coverage protects the policyholder’s belongings – from furniture and electronics to clothing and personal items – against loss or damage. If your San Antonio, TX home is broken into, burns down, or sustains significant covered damage, the coverage will likely pay to replace your damaged or lost possessions.

Scope and Limitations of Coverage

The extent of personal property coverage typically includes a wide range of items, but it’s important to note that there are limits and exclusions. High-value items like jewelry, art, and collectibles may require additional riders or endorsements for full coverage. Standard personal property protection often provides only minimal protection for high-value possessions.

Additionally, coverage might apply only when possessions are located at your residence. Many home insurance policies provide "worldwide coverage," broadly extending protection for belongings almost anywhere you go. Some policies don’t offer this broader protection, though.

Because coverage terms and limitations can vary, review the specifics of any home insurance policy you’re considering with a knowledgeable insurance agent. At Versatile Insurance Planners, our agents can check the specifics of a policy’s personal property coverage. 

Valuation of Possessions

Home insurance policies might value lost possessions at their actual cash value or replacement cost. The former is usually a lower amount based on what the belongings would sell for, including after depreciation. The latter usually pays to replace lost belongings with new ones.

Get the Personal Property Protection You Need

If you’re in San Antonio, TX, contact us at Versatile Insurance Planners for help finding home insurance. We’ll ensure you find personal property coverage and any other coverages you need that work for you.