Personal Property Coverage - Minnesota Homebuyer's Connection

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Personal Property Coverage

Personal belongings are so important to us all, and it's important to protect what we love. Coverage on your personal belongings is helpful to know if a loss happens, you can retrieve like items or a financial substitute.

Are your personal items covered?

As a homeowner, it’s essential to have proper insurance coverage to protect your personal belongings in the event of unexpected damages, such as from natural disasters, theft, or accidents. One critical component of your insurance coverage is personal property coverage, which protects your personal belongings. Here’s what you need to know about proper insurance on your belongings!

(alt="dresses-g1f3f2bf7b_1920-scaled.jpg")Personal property coverage is an essential component of a homeowners insurance policy. It covers the cost to repair or replace your personal belongings, such as furniture, clothing, and electronics, in the event of damage from a covered peril. Covered perils may include things like fire, hail, windstorms, and theft.

The amount of personal property coverage you need will depend on several factors, such as the value and type of belongings you have. It’s crucial to work with your insurance provider to determine the appropriate amount of coverage needed to fully protect your personal belongings.

It’s also important to review your personal property coverage periodically to ensure that it’s keeping up with any changes to your personal belongings value or acquisition. For example, if you’ve purchased new high-value items or acquired new collections, you may need to increase your personal property coverage to reflect these changes.

It’s important to note that personal property coverage may have limitations or exclusions for certain types of belongings, such as jewelry, art, and collectibles. It’s crucial to review your policy and work with your insurance provider to ensure that you have the appropriate coverage for these items.

Additionally, personal property coverage may not cover damage caused by wear and tear or neglect. It’s important to properly(alt="pen-g153fcd2cf_1920-scaled.jpg") maintain your belongings and make any necessary repairs to prevent damage to occurring.

Having proper insurance on your personal belongings is crucial to protecting them and the investment put into them. It’s important to work with your insurance provider to determine the appropriate amount of coverage needed and to review your coverage periodically to ensure it is keeping up with any changes to your personal belongings value and acquisition.

“What Is Personal Property Insurance?” American Family Insurance,

Minnesota Homebuyer’s connection (2022) Minnesota Homebuyer’s Connection. Available at: (Accessed: March 24, 2023).
Minnesota Home Buyers Connection

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