Personal Property

Your home (homeowners, tenant, condominium unit owners or tenant) insurance covers the contents of a home and personal property that you as named insured and members of the household own, use or wear (including furniture, clothing, dishes, etc.) while on the premises. Sometimes it will cover personal property of others (excluding roomers or boarders who are not related to the insured) that is not otherwise insured. There will normally be worldwide coverage for personal property while it is temporarily away from the home. Your personal property that is not normally kept at home would not be covered. Personal property in a warehouse is usually covered against theft without time limit, but other perils may not be covered, or may be covered only up to 30 days. If you have removed your property to prevent further damage in a claim then the coverage is extended. You can purchase special coverage for items of high value, antiques or higher risk to theft, such as bicycles and laptops. The limit shown on your policy document is usually the maximum to be paid out. If your home policy has expanded coverage such as "single limit" then the total amount of all areas could be used. For example, if you have a fire and determine that you need more coverage under personal property to cover your claim then you can "borrow" from the amount declared for dwelling, detached private structures or additional living expense until the total of all these amounts has been used up.