What Is Personal Property On Homeowners Insurance?

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    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Personal property is physical property that is either owned by you or in your care.  The basic coverage is for this property that is located in the covered residence.  There is often an extension of this coverage when the property is away from your residence but there is also an internal limit on coverage (10% is common.)  Your policy puts limitations on certain property such as money, securities, jewelry, silverware, and guns.  Coverage for business related property stored at your residence is also limited.  There is also personal property that isn’t covered such as animals, trees, cred cards etc.
    Answered on March 13, 2014
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