04/30/2026
Is your personal property covered?
Personal Property Coverage is a part of your home insurance policy that pays to repair or replace your belongings, such as furniture, electronics, clothing, bikes, and jewelry, if they are damaged or stolen.
Most policies cover half to three-quarters of your home's value. If your home is insured for 300,000, your property coverage will likely be between 150,000 and 225,000.
Actual Cash Value vs Replacement Cost: Actual cash value only covers what your items are worth today (after depreciation), while replacement cost covers the cost to buy new, similar items. For example, if your sofa costs $1,000 and has actual cash value, you might only get $500. With replacement cost, you'll receive enough to buy a new one for $1,200.
High-value items, such as jewelry or furs, may exceed your policy's limit, which is often capped at $1,000 per item. Consider adding extra coverage, such as a Scheduled Personal Property rider or Blanket Jewelry coverage, for complete peace of mind.
Make sure your coverage fits your needs. Reach out to Mints Insurance to review your policy today!
