When it comes to protecting your home, it's easy to focus on the structure itself – the walls, the roof, and the foundation. But what about everything inside your home? Your personal property, from your furniture to your electronics, jewelry, and even your golf cart, needs protection too. At Ovation Home Insurance Exchange, we understand the value of your belongings and offer comprehensive coverage options to ensure they're well-protected.
Understanding Personal Property Insurance
In the world of home insurance, "personal property" refers to the contents of your home – those items not permanently attached to the dwelling’s structure. This includes items like clothing, furniture, electronics, and kitchen appliances. Your personal property insurance limits can be found under Coverage C in your homeowners policy.
In contrast, Coverage A (dwelling) in your policy refers to the physical structure of your home, and Coverage B (other structures) refers to detached structures like sheds, garages, or pools.
It's essential to understand what your personal property insurance entails and ensure it meets your needs. To ensure your personal property insurance limits are adequate, consider creating a home inventory. Documenting your belongings, their value, and keeping receipts or photos can also streamline the claims process if you ever need to file one.
Why Personal Property Insurance Is Important
Imagine losing everything you own in a fire or hurricane. Replacing your personal belongings out of pocket could be financially devastating. It’s for this reason personal property insurance is crucial. You gain valuable peace of mind knowing your valuables are protected against a range of risks, including fire, windstorm, theft, and certain types of water damage.
Tailor Your Coverage at Ovation
At Ovation Home Insurance Exchange, we offer several options to customize your personal property insurance, ensuring it fits your unique needs.
1. Increase Your Coverage C Limits
Standard homeowners policies typically set personal property insurance at 25% or 50% of the dwelling coverage amount (Coverage A). However, you can increase your personal property limit up to 75% with us to ensure more comprehensive protection for your belongings.
2. Switch to Replacement Cost
Standard homeowners policies typically cover personal property at actual cash value, which factors in depreciation (the age and condition of each item). By opting for replacement cost coverage for your personal property, you can receive the amount needed to purchase new items equivalent to what you lost, without depreciation deductions.
3. Opt for a Premium Package
Our premium packages offer enhanced personal property insurance coverage limits for money, credit cards, and jewelry. This means you can have greater financial protection for these valuables without having to purchase additional policies.
4. Golf Cart Coverage Is Included!
For golf enthusiasts, an Ovation homeowners policy already includes golf cart coverage up to $5,000 for damage or loss, with some exclusions. This ensures your golf cart is protected whether it's parked in your garage or out on the course.
5. Get Equipment Breakdown Coverage
This coverage protects major household appliances and equipment from unexpected mechanical or electrical breakdowns. It can help cover the cost of repairs or replacements, ensuring your home runs smoothly – and it’s surprisingly affordable.
Maximize Your Protections: a Personal Property Insurance Checklist
At Ovation Home Insurance Exchange, we offer customizable options to ensure your belongings are adequately protected. We're here to help you safeguard what matters most.
If you're unsure about your current personal property insurance protections or want to explore the additional options mentioned above, contact an Ovation agent now or go online to get a quote. Protecting your home and everything in it has never been easier with Ovation Home Insurance Exchange.