{"id":64141,"date":"2023-01-28T13:19:00","date_gmt":"2023-01-28T13:19:00","guid":{"rendered":"https:\/\/businessyield.com\/?p=64141"},"modified":"2023-02-07T17:12:38","modified_gmt":"2023-02-07T17:12:38","slug":"personal-property-insurance","status":"publish","type":"post","link":"https:\/\/businessyield.com\/insurance\/personal-property-insurance\/","title":{"rendered":"PERSONAL PROPERTY INSURANCE: Coverages and Policies","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"

When you get a home insurance policy, you receive various benefits, including personal property insurance. Personal property coverage, also known as contents coverage or contents insurance, protects your valuables and is an important component of your home insurance policy. Let’s see what personal property insurance can cover. Read on…<\/p>

What Is Personal Property Insurance?<\/h2>

Personal property insurance is known as Coverage C in a basic homeowners insurance, renters insurance, or condo policy. It safeguards your possessions (aka the items inside your house). The quantity of personal property coverage provided by a policy varies based on the insurer, but in general, it is a percentage of the amount of dwelling coverage you have. Dwelling insurance, often known as Coverage A, protects your home’s physical structure. As an example, if you have $250,000 in housing coverage and your personal property is set at 50% of that value, you would have $125,000 in coverage.<\/p>

What Forms of Damage Does Personal Property Insurance Cover?<\/h2>

Each policy has different coverage limits. There are two sorts of homeowners\/renters\/condo insurance policies: open peril and named peril, and they determine the types of harm for which you are covered.<\/p>

Policies with specific perils<\/h3>

HO-3 plans are standard homeowners insurance policies that cover personal belongings against specified risks. To file a claim, your goods must have been destroyed by anything specifically mentioned in the policy. These policies mention the following as the 16 most common perils:<\/p>