Personal Property Coverage

In general, homeowners policies cover contents in your home for their actual cash value (ACV) less depreciation, generally limited to a certain percentage of coverage on your home. Replacement cost coverage provides for the cost of replacing an item without subtracting depreciation. Documenting your personal property with photos, receipts, and video footage can help ensure you have an accurate inventory of your personal property should you need to file a claim. Be aware that the contents portion of all homeowners policies generally has specific limitations on items such as money, computers, jewelry, furs, silver-ware, artwork, and securities. Refer to your policy for a full description of limitations. You may want to consider buying additional coverage for expensive items and/or collectibles as needed.

-Robert Catalano