What is personal property on a home policy?

Everything you own is personal property. I know everything is a lot of stuff. What I mean is that if you buy a couch, it is personal property. Did you buy groceries, new dishes, a fun new bed set, yep, you guessed it personal property.


Okay, take you home and picture it in your mind, now turn it upside down and remove the roof. What all falls out? Did you see pens, paper, computers, cleaning supplies, shoes, your coffee pot, and so much more, yes, good, that is all your personal property for everyone that lives in the house. Okay, now mentally walk over to your car, do you see your favorite jacket, maybe some Kleenex, or even a few dirty baby bottles, guess what, that is part of your personal property coverage.


Did your children go off to college and take half of their bedroom, good news, that is also covered under the personal property as well. That is, as long their permanent residence is your home. Once your kiddos get a place outside of that dorm room, they will need their own coverage.


So now, let's trick you up and say that you live in two houses in the same state. How does your personal property work then? If you do not have a separate policy for the second home then only 10% of your Coverage A (dwelling) will cover belongings at the second home. That is pretty standard for any home policy, but please double check with your agent.


Lastly, let's talk about your storage unit. Yes, your storage unit. I am sure that all the things in there are things that you are not really worried about, however, if the case that you are, this is also covered under personal property.


Have other thoughts or want more examples, reach out. I am here for you.

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