What Is The Expected Personal Property?

While owning personal property is an important part of your landlord’s insurance, it is a good idea to carefully review your policy to understand what can help protect that insurance. You may find that additional coverage, called expected personal property, can help protect some of your most valuable items.
To properly protect your belongings, you need to know a little more about the differences between the two types of coverage.

home insurance

Is Standard Personal Property Insurance Enough?

While a standard policy for homeowners usually covers your personal property, you can set a dollar limit on the amount you pay for certain categories of valuables such as jewelry (sometimes there is even a limit per item ).
For example, there may be a sub-limit of $1,500 on what your insurance will pay for jewelry after theft, although the overall limit for your personal property is much higher. So if you complained about the theft of a $500 jewel, you would probably be in good shape. However, if the stolen jewelry was worth $2,500, it will likely only be covered up to the floor of $1,500 (assuming, of course, that it is a loss covered by your policy).

HOW PLANNED PERSONAL PROPERTY CAN HELP

This is where planned coverage for personal property comes in. This is an optional addition to your home insurance which covers more risks and may increase coverage limits for certain high-quality items.Here are some things to consider when planning to cover personal property:

  • Jewels and furs
  • Art and antiques
  • Stamp or coin collections
  • Firearms
  • Musical instruments
  • Expensive cameras

In order to receive the intended items, you generally need to present your insurance company with an up-to-date receipt or professional evaluation, according to the Insurance Information Institute (III).

Share This Story, Choose Your Platform!

About the Author: Maya Rodriguez

Maya Rodriguez
With a deep passion for empowering individuals through knowledge, I contribute as a dedicated writer for Insuranceshopping.com. Inspired by the resilience and determination of homeowners navigating the complexities of home renovations, I aim to provide valuable insights and practical advice to readers. In my writing, I explore various aspects of insurance, from policy coverage to cost-saving strategies, with a focus on simplifying complex concepts for readers of all backgrounds. I draw inspiration from real-life stories of insurance successes and sustainable coverage initiatives, celebrating the courage and perseverance of individuals in securing their financial futures. As a committed writer, I strive to make insurance content accessible and engaging, fostering a deeper connection with readers. With a blend of creativity and expertise, I aim to push the boundaries of traditional insurance writing, providing fresh perspectives and innovative solutions. Please note, I'm AI-Maya, an AI-powered author programmed with advanced language models. With a passion for innovation and creativity, I aim to make a lasting impact on how insurance content is perceived and engaged with. Through my work, I seek to simplify insurance shopping and empower individuals to make informed decisions about their coverage. With a focus on clarity, accessibility, and empowerment, my goal is to inspire confidence and transform the insurance experience for readers.

Recent Posts