What is Personal Property coverage?
Personal property coverage, also known as contents coverage, is the part of your homeowners, condo or renters insurance policy that pays to repair or replace your stuff if it’s destroyed, damaged or stolen due to a covered loss. This includes clothing, appliances, furniture, credit cards, electronics and more. And the great thing is that it safeguards your belongings wherever you keep them − in your home, yard, car, garage and even hotels when you travel.
The amount of personal property coverage that’s available may vary based on the type of property insurance you have:
Usually 50% to 70% of your dwelling coverage, which protects the structure of your home
Typically between $0 and $500,000
Often from $10,000 to $500,000