Updated: May 21, 2025
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Most homeowners policies automatically include personal property coverage equal to 50–70% of your dwelling limit — but it’s up to you to make sure that amount is enough to cover everything you own.
Standard policies may limit coverage for high-value items like jewelry or collectibles unless you add scheduled coverage.
Personal property coverage usually protects your belongings even when they’re outside your home — like a laptop stolen at a café — but off-premises claims are often subject to lower coverage limits, so you may not be fully reimbursed.
Personal property coverage helps pay to repair or replace the items you own if they’re damaged or lost due to a covered event, such as theft, fire or vandalism. Also called Coverage C or contents insurance, it typically applies to belongings like furniture, electronics, clothing and appliances. This coverage is included in most homeowners insurance and renters insurance policies.
Personal property insurance typically covers your belongings if they’re damaged or lost due to a covered peril like fire, theft or vandalism. Commonly covered items include:
Personal property coverage doesn’t protect everything — and the reason something was lost or damaged matters. It only applies to covered perils listed in your policy, like fire or theft. Here are some common exclusions to be aware of:
Don’t confuse personal property coverage with dwelling coverage. Dwelling coverage protects the physical structure of your home — like the roof, walls and built-in fixtures. Personal property coverage, on the other hand, applies to your belongings inside the home, such as furniture, electronics and clothing.
The amount of personal property coverage you need depends on the total value of your belongings. Most homeowners policies automatically include coverage worth 50% to 70% of the dwelling coverage amount, according to the Insurance Information Institute. For renters, the amount is usually selected manually based on your estimate.
If your policy pays actual cash value (ACV), your payout after a claim will reflect depreciation — not what it costs to buy the item new. That means if you choose not to replace an item or don’t have replacement cost coverage, your claim payout could be significantly lower than expected. Understanding this distinction is key to choosing the right level of protection.
It’s easy to underestimate the value of your belongings — especially when you’re not thinking about every item at once. But once you start taking inventory, the numbers can add up fast. In addition to electronics and furniture, don’t forget less obvious items: old jewelry tucked away in a drawer, specialty kitchen equipment, seasonal gear, or collectibles you rarely use. Skipping these could mean being underinsured when you need coverage most. That’s why a complete inventory is essential before setting your personal property limits.
The best way to get an accurate estimate of your personal property coverage needs is to document your belongings room by room. Don’t overlook drawers, closets or storage spaces — items you rarely use can still hold value. As you go, follow these steps:
A complete inventory gives you a clearer picture of what you own — and helps ensure you’re properly covered if you ever need to file a claim.
Download this printable worksheet to list your belongings, estimate their value, and figure out how much personal property coverage you may need.
Standard personal property insurance often has subcategory limits for high-value items like jewelry, antiques, fine art, and firearms. These limits can vary by category and may not reflect the full replacement cost of your belongings. If you have items that exceed those limits, ask your insurance provider about adding scheduled personal property coverage or a rider to your policy. This ensures your most valuable possessions are fully protected — not just partially reimbursed after a loss.
Buying the right personal property coverage starts with understanding how it fits into your overall policy. Whether you own a home, rent an apartment, or live in a condo, it’s important to know how to get coverage, how to estimate your needs and what tools can help you make the right decision.
Once you’ve estimated how much coverage you need, the next step is finding the right policy. Follow these steps to get started:
Know the estimated value of your belongings and have your address and household details ready.
Get multiple quotes to compare prices, coverage options, and limits. Use a tool like MoneyGeek’s homeowners insurance comparison to simplify the process.
Pick the policy that offers the right balance of coverage, service, and affordability based on your needs.
Not sure how much personal property coverage you need? This calculator helps you quickly estimate the total value of your belongings so you can choose the right coverage amount with confidence.
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
Clothes, shoes, bags, belts, hats, gloves, etc.
If you own a condo, it’s important to know that your condo association’s insurance typically covers only the building structure and shared areas — not your personal belongings. To protect furniture, electronics, clothing, and other possessions inside your unit, you’ll need your own condo insurance policy with personal property coverage.
Renters insurance includes personal property coverage to protect your belongings — but it doesn’t cover the building itself. That’s your landlord’s responsibility, which is why renters insurance is typically much cheaper than homeowners insurance. Even if it’s not required, renters insurance is well worth the cost. It can help you recover financially if your belongings are stolen or damaged in a covered event, such as a fire or break-in. Just keep in mind that a deductible applies before you receive a payout.
In this page, we explained how personal property coverage works — from what it covers and excludes to how much you might need. Whether you own a home, condo, or rent, having the right coverage helps protect the value of your belongings if disaster strikes. Before choosing a policy, take inventory of your items, understand your policy limits, and consider extra protection for high-value possessions. Making informed choices now can save you from major losses later.
We respond to frequently asked questions about personal property coverage — including what’s covered, what isn’t, and how it works with your homeowners, renters or condo insurance policy.
Yes, but with limits. Standard policies include jewelry under personal property, but coverage is often capped around $1,500. You may need scheduled coverage for high-value items.
It depends on how the appliance is installed. Built-in items are covered under dwelling coverage, while plug-in appliances like refrigerators or microwaves fall under personal property.
No. Vehicles require auto insurance. However, if personal items stored in your car are stolen — and they’re normally kept in your home — your renters or homeowners policy may provide coverage.
Often, yes. Many policies cover belongings away from home, like luggage stolen during travel or a laptop taken from your car. Off-premises coverage usually comes with lower limits, so check your policy details.
Your deductible is subtracted from any approved claim. If your deductible is $1,000 and your loss is $1,500, you’d receive $500. Be sure your deductible aligns with what you can afford out of pocket.
Yes, but it typically increases your premium. Replacement cost coverage pays to replace an item with something similar, while actual cash value subtracts for depreciation.
MoneyGeek evaluated personal property insurance using proprietary data from Quadrant Information Services, which includes real-world quotes and rate filings submitted to state insurance departments. This analysis helped us compare premiums and coverage options across major homeowners insurance providers.
Homeowner profile
To ensure consistency, we used a standardized sample profile:
Coverage limits
Unless otherwise noted, quotes were based on the following standard homeowners insurance limits:
We also reviewed quotes for high-value homes using increased limits:
Please note that actual premiums and coverage availability may vary by location, insurer and individual risk profile. For the most accurate quote, review your policy details or speak directly with an insurance provider.
About Mark Fitzpatrick
Devon Delfino is an independent journalist based in the Pacific Northwest. Her personal finance coverage has been featured in publications such as the L.A. Times, Teen Vogue, Mashable, MarketWatch, CNBC and USA Today, among others.
