Our top pick: Policygenius home insurance
- Personalized policies
- Compare top-rated companies
- Switch online hassle-free
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Whether you own your home or you’re renting, personal property insurance provides crucial financial protection for all your most treasured possessions. But to be fully protected, you’ll want to keep an inventory of what you own and how much it’s worth.
Personal property insurance, also known as contents insurance, covers the cost of repairing or replacing your possessions when they are stolen or damaged due to an insured event. It’s usually included in your homeowners or renters insurance policy.
It covers everything from furniture and appliances to clothing, jewelry and your TV, offering financial protection if any of your items are damaged due to fire, storms, theft and a wide range of other risks.
There are two types of policies available:
Personal property insurance is designed to cover damage to or loss of the contents of your home. This can include:
Exclusions will vary between insurers, so it’s a good idea to check your policy to find out exactly how you’re covered. Common home insurance exclusions include:
Yes, contents insurance can provide cover for your personal valuables, including items such as jewelry, smartphones, computers, cameras and more. However, it’s important to be aware of any limits that apply to coverage. For example, your laptop may be worth $3,000, but your insurer may only pay a maximum benefit of $1,500 for any one item.
Most policies will include off-premises coverage, which covers your belongings outside of the home — like if your phone is stolen from your car. But it may have a lower limit, and not all policies cover off-premises losses the same way, so it’s a good idea to check with your insurer.
If you need to put some or all of your contents into a storage facility for a few months or longer, the good news is that many policies will provide coverage for your possessions while in storage. This means you’ll be protected if your belongings suffer loss or damage due to any insured event.
But terms and conditions will likely apply. For example, your stuff may need to be stowed in a lockable and fully enclosed storage unit that is located in a commercial storage facility and accessible only by you.
If you need to put stuff into storage so you can renovate, downsize or just find some extra space at home, contact your insurer to find out whether they’ll cover you.
When comparing policies, keep an eye out for the following features:
The right level of coverage depends on a few important factors:
It’s a good idea to go inventory your possessions before purchasing a policy — and update your inventory regularly. It can help you work out exactly how much coverage you need, and will make things easier if you need to file a claim.
Go through your house one room at a time and take pictures of all the important belongings you need to insure, writing down how much each would cost to replace. For example, in a living room this list might include your furniture, TV, stereo, DVD player and gaming consoles, coffee table, lamps and artwork. You can also save any receipts or warranties with your inventory.
Home inventory apps like Sortly and Magic Home Inventory can help make the process run smoothly.
To get the best deal on your insurance policy:
If you need to make a claim on your home insurance policy, you’ll generally need to:
Personal property insurance can help make sure that you’re financially protected if your belongings are damaged or stolen, and it’s usually included in other insurance policies. If you’re ready to find a policy that fits your needs, compare homeowners insurance or renters insurance polices to find the right one.
From hunting dust mites to sweeping ceilings and much more, a deep clean is a targeted cleaning operation. Find out if you really need it.
Got a mold problem? Here’s what to know before you hire a professional including where to find one, costs and frequently asked questions.
If your child gets sick or injured and has to take time away from college, tuition insurance can reimburse you for what you already paid.
Here’s what you need to know about price protection policies ahead of Black Friday, from time frames to product exclusions.
What you need to know about MyHeritage’s no-frills DNA kits, which offer competitively-priced tests and fast results.
Get the financial help you need as you search for a new job.
Find a professional that can sanitize your rugs and eliminate dirt, dust and allergens. Learn what rugs you should steam clean, dry clean and handwash.
These coverage options serve different functions but have one benefit in common.
While it’s incredibly convenient, you’ll need the right tech to be eligible for this service.
Most working Americans pay around $1,489 in premiums each year. Compare costs now.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.