Contents coverage is the portion of the policy that protects the personal belongings inside the home. This can include:
- Removable appliances (refrigerator, toaster oven, etc.)
- Furniture (television stands, mattresses, etc.)
- Electronics (cell phones, cameras, televisions, etc.)
- Contents of an attached garage (tools, lawn mowers, snow blowers)
- Other personal property
Covered events can include fire, theft, vandalism, water damage, natural disaster, or other circumstances.
Contents coverage does extend outside of the home. If you have expensive personal belongings in a vehicle and they are stolen, it is your property insurance that covers the cost to replace them and not your auto insurance.
Are There Limits On My Contents Coverage?
Yes, most insurance companies have special limits on specific items. While every insurance company is different, some items with special limits include coins, jewelry, utility trailers, musical instruments, luggage, bicycles, sporting equipment, boats and others. If you have any high value items or collections, talk to your insurance broker about scheduling those items. By scheduling an item you insure that item for its full value, get a separate (typically) smaller deductible, and more thorough coverage that includes mysterious disappearance. A commonly scheduled item is hearing aids.
If you are storing project vehicles, motorcycles, boats, holiday trailers, or other vehicles in an attached garage, they will need their own insurance policy or a specialized coverage through the property policy to be covered in the event of a total loss.
