Homeowners insurance protects your home, but what about what’s inside? When peril strikes, knowing your belongings are covered financially can make a world of difference.
Here’s a basic guide to how personal property coverage can help secure your belongings.
Personal property coverage offers financial protection for your personal items if they’re damaged by certain perils.
Personal belongings covered under this policy type can include:
There are two coverage types for this insurance: named perils and open perils.
Named perils policies only cover you specifically from perils listed. An open perils policy covers everything except the specific exclusions provided.
Personal property coverage is included with renters insurance. It covers personal belongings the same way it would with homeowners insurance.
However, the building you’re renting is not covered under the same policy. Instead, the property owner will have their own policy for the building itself.
Personal property insurance typically doesn’t cover:
Personal property insurance usually comes as part of homeowners or renters insurance.
The average cost of a homeowners policy is about $1500 per year, while renters insurance costs about $160 per year.
Personal property coverage can mean greater peace of mind. Discuss your coverage options with an insurance company to make the best decision for your property.
I pride myself in providing exceptional customer service to my clients by responding back to them quickly and addressing their own unique needs. I have been involved in real estate in the Phoenix area for over 25 years and I look forward to helping you sell your home or finding you a beautiful new one. Unlike other realtors, I am also a licensed Real Estate Appraiser, which gives me a unique in-depth background and a more complete understanding of the industry. My goal is to make your transaction as seamless as possible, while minimizing any surprises along the way. I would love to hear from you, please call or text me at 602-750-8711.