When you purchase homeowners insurance, the general expectation is that you will be insured for loss or damage to your home. You know, the actual house itself, the structure. Sure, likely we also assume other things will be included in the policy, such as our lovely infinity pool, the expensive landscaping, the gazebo.
When we look at our insurance policy, we see a coverage type called personal property coverage. That certainly sounds straightforward enough, right? That’s coverage for your stuff. Your tchotchkes, furniture, clothes, computers, pictures, necklaces, the things that you will inevitably box up and schlep from house to house for your entire life. There is something you need to be aware of. Of all the items listed above, many of them have limitations on how much your homeowners insurance policy will pay in the event of a loss. Let’s touch base on a few of the more common categories.
