How Home Insurance Covers Your Personal Possessions

Your home is where you typically keep your most valuable possessions. Everything from your electronics to jewelry or collectibles, your personal belongings contribute significantly to your home’s value. Standard homeowners insurance usually offers some level of coverage for these items, but many people may not realize the limits and exclusions of their policy, or when to consider additional coverage.

What Does Homeowners Insurance Cover?

Most standard homeowners insurance policies offer personal property coverage, which can help pay to repair or replace your personal belongings after certain risks (e.g., fire, theft and vandalism) as outlined in your policy. The following belongings are often covered:

• Furniture
• Clothing
• Electronics
• Appliances
• Sports equipment
• Tools

However, it’s important to note that coverage is typically capped at a percentage of your dwelling. Check with your insurer to fully understand your coverage limits.

When Do I Need Additional Coverage?

Your homeowners coverage may not fully cover some high-value items, as the cost to repair or replace them after a covered incident could exceed your policy’s limits. Examples of these items include:

• Jewelry
• Fine art
• Antiques
• Firearms
• Collectibles

Certain items may be excluded from your homeowners insurance policy. You may need to purchase additional endorsements or riders to get more coverage and higher coverage limits.

Contact Us

Your personal possessions are a considerable part of your life, and you depend on their safety in your home. While your homeowners insurance may offer you some coverage for your personal belongings, the team at Ramos Insurance in Streamwood, IL can review your policy to make sure you have the coverage you need for your items. Contact us today for a personalized quote or more information.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.