You may think your personal property is already covered, but it all depends on your home insurance limits.
Home insurance does a lot for you. It protects your house itself, helping you rebuild or repair if a disaster comes your way. It can also help you cover the cost of legal defense if you experience another kind of disaster, like a guest slipping and falling. But that’s not all! Your home’s policy will also cover your stuff… theoretically. When the rubber meets the road, you’ll only be covered up to your policy limits. Do you have enough insurance to protect your personal property?
To find out, first update your home inventory (or make one if you haven’t yet). Your home inventory should list every single item you own, along with its value. Include relevant receipts, appraisals, and credit card statements to make insurance claims easier in the future. Once you’ve made or updated your home inventory, total it up. The value of that inventory needs to equal the personal property coverage limit in your home policy.
Next, consider your more expensive items. Your homeowners insurance likely has limits as far as valuables go, so if you’ve got jewelry, art, fur, antiques, firearms, or other pricey items that exceed those limits, you’ll need additional protection. Fortunately, you can get that straight from your home’s coverage by scheduling each valuable. If you’re not sure whether or not you have enough protection for your high-value items, talk to your agent. He or she can make sure you schedule any possessions that need extra care.
If you’re not sure whether your personal property has enough protection, contact Nahai Insurance Services. We have years of experience helping families look over their home insurance policies. Call us today so we can review yours to make sure your stuff is covered!