If you are not in the insurance business, you are going to assume all of the property you own is covered under your homeowners policy against any type of claim.

Unfortunately this is not the case.

If it was,  you wouldn’t receive a 100 page policy filled with exclusions.

You would receive a handshake and a receipt and go to bed at night thinking everything is covered.

One of the most difficult claims you will have is when you need to make a claim on your personal property.


Understand your Contents Personal Property Coverage

When you purchase a homeowners policy, most policies will include 50% of the Insured Amount of the dwelling for contents coverage.

Insured Dwelling Amount Coverage A  is 250,000

Your contents limit would be 50% of Coverage A,  so $125,000 would be the limit on your personal property.

But you are not going to get $125,000 of protection on everything item you own.

The HO-3 Special Form policy has limits on certain types of items.




Money, Gold & Silver  $200

We once had an insured try to make a claim that someone stole $20,000 from under his bed.

I would suggest you keep your cash in a bank.

A homeowners policy will only you $200 for stolen cash.


Securities and Valuable Papers $1500


Watercraft $1500

To obtain full replacement cost of your boat, you can purchase a boat policy to get complete coverage.

Don’t depend on your homeowners policy to cover a boat.


Trailers, Semitrailers $1500


Theft of Firearms $2500

If you have a gun collection,  you can insured your gun collection with a personal articles floater or inland marine policy.


Theft of Silverware, Goldware $2500

This is the most surprising claim when your wife’s wedding ring or your husband’s Rolex is not completely covered under your homeowners policy.

It is safe to schedule any valuable item above $2500 on the homeowners policy

or you can purchase a stand alone jewelry floater or inland marine policy.


Business Property $2500

I know some home owners like work out of their house and store their business property in their garage.

You would need to purchase a business owners policy or in home business policy to properly protect your business property,  but be careful as most homeowners policy do not accept business conducting at your residence premises.

If you are running a business out of your house,  check with your agent to see what is covered.


$1000 Property away from Premises

Most companies will determine the amount they will pay. 

It is usually covered at 10% of your personal property limit or $1000, whichever is greater.


Items you should consider to schedule or purchase a stand alone personal articles floater

  • Jewelry
  • Furs
  • Cameras
  • Musical Equipment
  • Silverware
  • Antiques
  • Fine Arts
  • Memorabilia


Items listed above can be added to a homeowners policy with a recent appraisal.


What’s this all about?

Don’t assume all of your personal property you own is covered up to the full replacement cost.

With smartphones,  it is too easy to shoot some quick video of your contents.

If you just take the time to document your personal property,  you will be rewarded with a smooth painless claim adjustment.

And if you have any valuable collections or high value jewelry,  you need to contact your agent to property insure these items either on your homeowners policy or on a stand alone inland marine policy.