Dwelling and personal property coverage helps pay for damage to your home and personal property. Other structures such as a detached garage, a tool shed, or any other building on your property are usually covered for 10% of the amount of coverage on your house.
Personal property coverage will pay for personal belongings including household furniture, clothing, and other personal items. The amount of insurance coverage is usually 50% of the policy limit on your dwelling. The coverage is also limited by the types of loss listed in the policy. The coverage only pays the current cash value of the item destroyed, unless you purchased replacement cost coverage.
Your homeowner’s policy also provides off-premises coverage. This means the policy covers your belongings against theft even when they are not inside your home. Your insurer will reimburse you for the cost of replacing your suitcase and its contents if it were lost or stolen while you were on vacation, but only for replacing them with items of like kind and quality.
Your homeowner’s insurance policy does not cover your pets. Although your policy does not cover your pet or damage it does to your possessions, it will cover injury or damage your pet does to others or their possessions.
Generally, your homeowner’s insurance policy does not cover your automobile.
If you have questions about your insurance, need coverage, need additional coverage or want to request a free consultation, contact us at 608-222-4555.